Growing global prevalence of cardiovascular diseases and introduction of new products are expected to drive market growth over the forecast period.
San Francisco, California (PRWEB) May 07, 2014
The global market for interventional cardiology devices is expected to reach USD 26.06 billion by 2020, according to a new study by Grand View Research, Inc. Growing global geriatric population base and the prevalence of cardiovascular diseases are expected to drive market demand over the next six years. Growing demand for minimally invasive procedures owing to shorter hospital stays and faster patient recovery times associated with them is also expected to enhance device demand. The introduction of technologically advanced products such as bio-absorbable stents exhibiting higher efficacies in terms of curbing re-stenosis prevalence is expected to be a key opportunity for market participants.
The report “Interventional Cardiology Devices Market Analysis By Product (Catheters, PTCA Guidewires, Stents, Balloon Inflation Devices, PTCA Balloons) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/interventional-cardiology-devices-market-analysis.
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Stents dominated the overall market in 2013, with revenue estimated at USD 10.31 billion. High price and usage rates associated with these products and the introduction of new products enabled with technological advancements, are some of the factors attributing to its large share.
Further key findings from the study suggest:
- Catheters were another key product segment in the market, with revenue estimated at over USD 1.50 billion in 2013. The introduction of new products exhibiting relatively higher efficacies such as angiography catheters is expected to drive catheter demand during the forecast period.
- North America was the largest regional market in 2013, accounting for over 33.0% of global revenue. The presence of high healthcare expenditures, patient awareness levels and sophisticated healthcare infrastructure are some of the factors accounting for its large revenue share.
- Asia Pacific interventional cardiology devices market is expected to grow at the highest CAGR of over 8.5% from 2014 to 2020, owing to the presence of high unmet medical needs in countries with high economic development such as India and China
- Key industry participants include Abbott Laboratories, Terumo Medical Corporation, Medtronic Inc., B Braun Melsungen AG, Johnson & Johnson, Boston Scientific Corporation and others.
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For the purpose of this study, Grand View Research has segmented the global interventional cardiology devices market on the basis of product, application and region:
- Interventional Cardiology Devices Product Outlook
• Interventional Catheters
• IVUS Catheters
• Guiding Catheters
• Angiography Catheters
• PTCA Guidewires
• Drug Eluting Stents
• Bare Metal Stents
• Bio-Absorbable Stents
• Balloon Inflation Devices
• PTCA Balloons
• Cutting Balloons
• Scoring Balloons
• Drug Eluting Balloons
• Normal Balloons
- Interventional Cardiology Devices Regional Outlook
• North America
• Asia Pacific
Browse all medical devices market reports at http://www.grandviewresearch.com/industry/medical-devices.
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