Interventional Cardiology Devices Market to Partake Significant Development During 2022 to 2030: Grand View Research Inc.

 Interventional Cardiology Devices Market Growth & Trends 

The global interventional cardiology devices market size is expected to reach USD 16.11 billion by 2030, according to a new report by Grand View Research Inc., expanding at a CAGR of 3.7% from 2022 to 2030. Demand for interventional cardiology devices is on the rise owing to favorable reimbursement policies for coronary intervention procedures, rising prevalence of cardiovascular diseases (CVDs) and diabetes across the globe, and the launch of new product lines in the market. Cardiovascular diseases have become one of the major causes of mortality and morbidity in the world. Coronary artery disease and congenital heart defects are the major cardiovascular diseases that are prevalent across the globe. 

Furthermore, the adoption of unhealthy lifestyles, such as smoking, a sedentary lifestyle, and improper diet, is responsible for diabetes. Cardiac catheterization, angioplasty, and Percutaneous Coronary Intervention (PCI) are some of the major procedures used for the treatment of cardiovascular diseases. Since diabetes is one of the major reasons behind triggering cardiovascular diseases, increasing diabetes cases are expected to surge the demand for interventional cardiology devices over the forecast period. Although the market is anticipated to expand over the coming years, it might witness slower growth possibly brought on by the high price of medical devices, especially in developing economies with insufficient insurance coverage.

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Interventional Cardiology Devices Market Report Highlights

• The coronary stents product segment dominated the market and accounted for a revenue share of over 35.0% in 2021. Stenting technology is increasingly being preferred over conventional balloon angioplasty owing to the introduction of advanced DES and evolving bioresorbable scaffolds
• Technological advancements in coronary stents, such as the development of bifurcated stents and the use of biodegradable materials, have led to efficient and improved outcomes of CVD treatment. Companies are proactively involved in product developments and partnerships and strategic collaborations. The aforementioned factors are expected to propel industry growth over the forecast period
• In 2021, Asia Pacific accounted for the largest revenue share of over 55.0% and it is expected that this trend will continue in the near future. This industry growth is fueled by factors including regulatory revisions, economic expansion, and notably favorable reimbursement in some nations such as Australia. The market is also being impacted by growing government spending on healthcare and new initiatives to introduce devices at affordable costs in cost-constrained countries such as India
• The market is fragmented due to the presence of several players. This is expected to intensify the competition in the coming years. Market players are adopting various strategic initiatives such as partnerships, sales & marketing activities, mergers & acquisitions, service expansion, integrated offerings, and product launches to increase their market presence 

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Interventional Cardiology Devices Market Segmentation

Grand View Research has segmented the global interventional cardiology market based on product and region: 

Interventional Cardiology Devices Product Outlook (Procedure; Unit Volume; ASP; Revenue, USD Million, 2017 - 2030)

• Coronary Stents
  • DES
  • BMS
  • BRS
• PTCA Balloon Catheters
  • Normal
  • Specialty (Includes cutting, scoring, and lithotripsy balloons)
  • DCB
• Accessory Devices
  • PTCA Guidewires (Workhorse, Specialty)
  • Diagnostic Catheters
  • PTCA Guiding Catheters
  • Introducer Sheaths
• Intravascular Imaging Catheters and Pressure Guidewires (IVUS Catheters, OCT Catheters, FFR Guidewires)

Interventional Cardiology Devices Regional Outlook (Procedure; Unit Volume; Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe (EU-5)
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Turkey 

List of Key Players of Interventional Cardiology Devices Market 

• Abbott Laboratories
• Medtronic
• Boston Scientific
• Spectranetics
• Cardinal Health
• Philips Healthcare
• Terumo
• Alvimedica
• Teleflex Medical
• Braun
• Biosensors International
• Meril Life Sciences
• BIOTRONIK
• ACIST Medical Systems
• ASAHI INTECC
• CID Vascular
• Cook Medical
• Medinol
• Merit Medical Systems
• NuMED
• Opsens
• Vascular Solutions
• Zeon Medical

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.