The global interventional cardiology market is currently valued at over USD 10 billion and is expected to surpass USD 13 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global interventional cardiology market, under its cardiovascular devices portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Abbott Vascular, Boston Scientific, Cordis, Medtronic, and St. Jude Medical.
According to Barath Palada, a lead analyst for cardiovascular devices research at Technavio, “PTCA and stenting are expensive procedures, and for every procedure about 2-3 guide wires are used. Reimbursement coverage for products such as guide wires, stents, catheters, and other consumables under an insurance scheme is anticipated to propel their adoption.”
Some developed countries such as the US, the UK, Germany, Italy, and France reimburse 50%-60% of the total procedure cost, which is borne by the government or insurance agencies. Furthermore, the European Society of Cardiology recently released favorable recommendations for using stents that are drug-coated and for using FFR guide wires. Such initiatives are likely to foster the growth of the interventional cardiology market in the coming years.
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Emergence of bioabsorbable stents
Bioabsorbable stents have the potential to eliminate the negative issues of long-lasting polymer stents, which will prompt a significant shift in the treatment of conditions such as atherosclerosis, stenosis or fibrous disease. The vast application spectrum of such stents will spur more patients to undergo stent implantation surgery, subsequently leading to the growth of the market.
Growing popularity of hybrid procedures
Hybrid procedures help to eradicate plaque entirely from the blood vessels and offer qualitative results to patients. Hybrid procedures are an amalgamation of the best aspects of both, bypass surgery and stenting by using a minimally invasive surgical procedure. Patients are increasingly opting for hybrid procedures primarily owing to the several advantages associated with them.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Interventional Cardiology Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Vascular Guidewires Market 2016-2020
- Global Angioplasty Balloons Market 2016-2020
- Global Ventricular Assist Devices Market 2016-2020
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