Report ID: 10086176 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
"The market value of interventional cardiology equipment/interventional cardiovascular devices in 2021 is estimated to be approximately USD ~14 billion with a compound annual growth rate of ~7% during the period 2022-2030. The interventional cardiology equipment market is expected to be significantly affected by the COVID-19 pandemic, as most elective surgeries are postponed to curb the spread of the SARS-Cov2 virus. According to a research article published int;Best Practices and
During the COVID-19 pandemic, both patients and medical staff face a higher risk of infection, and the overall risk of cardiac surgery is related to this . In addition, according to the results of the study published in the 2020 Thoracic Surgery Yearbook ", compared with 2019, the total number of heart operations in the United States in 2020 is estimated to be reduced by 53%, which is mainly due to the impact.
The cause of the COVID-19 pandemic. Therefore, due to the aforementioned factors, the research market is expected to be affected during the COVID-19 pandemic. The main factors for the growth of the interventional cardiology equipment market include the increasing prevalence of coronary artery disease (EAC), technological advancements in interventional cardiology equipment and the increasing demand for minimally invasive treatments. Heart-related diseases are the most serious health conditions in the world and the main cause of death.
Coronary artery disease (CAD) is one of the most common causes of morbidity and mortality in low/middle income countries and developed countries. According to data from the British Heart Foundation Centre, in 2018, there were approximately 7.4 million people in the UK suffering from heart and circulatory diseases. In the UK, more than 43,000 people under the age of 75 die each year from heart and circulatory diseases. According to the 2018 American Heart Association research report, cardiovascular disease, listed as a potential cause of death, caused nearly 836,546 deaths in the United States.
This is almost one-third of the country’s death toll. Approximately 2,300 Americans die from cardiovascular disease every day, an average of 1 death every 38 seconds. In addition, according to research articles, the global prevalence of cardiovascular diseases is estimated to have almost doubled, from 271 million in 1990 to 523 million in 2019, and the number of deaths from cardiovascular diseases has been found to have increased from 12.1 million in 1990 Increased to 18.6 million people in 2019.
Published in the Journal of the American College of Cardiology, 2020. People with cardiovascular disease or high cardiovascular risk need early detection and treatment. Therefore, it is expected that the increase in the burden of cardiovascular diseases, including coronary artery disease, will promote the use of coronary stents and promote the research market during the forecast period.
SCOPE OF THE REPORT:
Within the scope of this report, interventional cardiology is a subspecialty of cardiology that uses technology based on fluoroscopic endovascular catheters to treat congenital heart, valve, and coronary artery diseases. The interventional cardiology equipment market is segmented by product type and geographic location. By product type, the market is segmented into coronary stents (bare stents, drug-eluting stents, and bioabsorbable stents), catheters (angiography catheters, intravascular ultrasound (IVUS) catheters, and percutaneous coronary angioplasty (PTCA) guidance Catheters)), balloons for coronary angioplasty (PTCA), guide wires for percutaneous transluminal coronary angioplasty (PTCA) and other types of products). By region, the market is divided into North America, Europe, Asia Pacific, Middle East, Africa and South America. The report provides the value (in billions of dollars) of the aforementioned market segments.
KEY MARKET TRENDS:
The drug-eluting stent segment is expected to achieve significant growth during the forecast period. The drug-eluting stent segment is expected to dominate the research market in the next few years. Increasing adoption of advanced cardiovascular treatment methods and technological advancements in the development of drug-eluting stents are the main driving forces for the growth of the research market. The drug-eluting stent is coated with a drug, which is slowly released to prevent the growth of scar tissue on the inner wall of the artery.
This helps the arteries to stay smooth and open, thus ensuring good blood flow. Drug-eluting stents are commonly used in the lower extremities. They provide better results than self-expandable and balloon stents. A large number of patients with heart problems have been successfully treated with drug-eluting stents, avoiding the need for more invasive procedures, such as coronary artery bypass surgery. Drug-eluting stents help prevent the recurrence of symptoms such as chest pain.
This also reduces the need for repetitive angioplasty, because repetitive angioplasty carries the risk of complications such as heart attack and stroke. Therefore, the advantages of drug-eluting stents over other treatment options are expected to promote the growth of the research field.
In addition, the growing trend of product approvals is also expected to drive the growth of this segment. For example, in February 2019, Biotroniks Orsiro drug-eluting stent (DES) system was approved by the US FDA, which is an ultra-thin, bioabsorbable polymer-coated DES. In addition, in July 2020, Scitechs Inspiron coronary sirolimus drug-eluting stent received CE mark approval. Therefore, due to the above factors, the drug-eluting stent segment is expected to maintain a healthy growth in the prophase.
IT IS EXPECTED THAT DURING THE FORECAST PERIOD, NORTH AMERICA WILL DOMINATE THE INTERVENTIONAL CARDIOLOGY EQUIPMENT MARKET .
The existence of advanced medical infrastructure, favorable government measures for product development, high level of patient awareness and costs. The relatively high growth rate of healthcare in the region is some of the important drivers for the market growth of interventional cardiology equipment in the coming years.
North America has a high consumption rate of high-priced interventional cardiology equipment, and this region can meet the high innovation rate of medical devices, thus leading the research market. In the United States, 1 in 7 people die from heart disease. Coronary heart disease is the leading cause of cardiovascular death in the United States (43.8%), followed by stroke (16.8%), heart failure (9.0%), hypertension (9.4%), arterial disease (3.1%) and other cardiovascular diseases ( 17.9%).
This situation has led to an increase in demand for interventional cardiology equipment for effective treatment, which in turn is expected to promote the development of the US market. In addition, few major market players in the region participate in the development of new products and technologies to compete with existing products, while other major market players are acquiring and cooperating with other market trend companies.
For example, in May 2020, Philips Image Guided Therapy Corporation’s Reconnaissance PV .018 OTW digital IVUS catheter received 510 (K) approval from the US FDA. The catheter can be used as an adjunct to routine angiography to aid in diagnostic imaging. Vascular cavity and wall structure. Therefore, due to the above factors, the research market in North America is expected to grow steadily during the forecast period.
COMPETITIVE LANDSCAPE :
nterventional cardiology equipment market has moderate competition. Some of the major market players are Abbott Laboratories, B. Braun Melsungen AG, Biosensors International Ltd, Biotronik, Boston Scientific Corporation, Cardinal Health Inc., Cook Medical Inc., Medtronic plc. There is also Terumo Medical. Major participants participate in strategies such as investing in research and development activities, launching new products, and forming alliances such as acquisitions and cooperation to ensure their position in the global competitive market. For example, in May 2020, Cook Medical and Surmodics signed an agreement to distribute Surmodics products, which are hydrophilic percutaneous transluminal angioplasty (PTA) balloon catheters.
MAJOR PLAYERS :
Cook Medical Inc.
Abbott Laboratories
Boston Scientific Corporation
Terumo Medical Corporation
Medtronic plc
LATEST DEVELOPMENT:
In October 2020, Boston Scientifics product Ranger Paclitaxel-coated PTA balloon catheter was approved by the US FDA for use in percutaneous transluminal angioplasty (PTA) surgery. Everolimus eluting platinum-chromium coronary stent system (single track), SYNERGY everolimus eluting platinum-chromium coronary stent system (online) and SYNERGY XD everolimus eluting platinum-chromium coronary stent system (single track) ."
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Report ID: 10086176 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
