Interventional cardiology devices are devices that are used to unclog blood vessels and restore normal blood flow. The market for these devices is expected to reach USD 20.85 billion by 2022 from USD 14.52 billion in 2017, at a CAGR of 7.5% during the forecast period. Growth in this market is mainly driven by factors such as the rapidly increasing geriatric population and technological advancements in interventional cardiology devices.
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Other factors supporting market growth include the increasing incidence of cardiovascular diseases, rising healthcare expenditure in emerging, improving healthcare infrastructure across the globe.
On the basis of type, the interventional cardiology devices market is categorized into angioplasty balloons, angioplasty stents, catheters, plaque modification devices, hemodynamic flow alteration devices, and other interventional cardiology devices. The plaque modification devices segment is expected to register the highest growth during the forecast period. Growth in this market is mainly due to the increasing adoption of these devices for plaque removal in arteries due to their effectiveness.
The angioplasty stents market is further segmented into bare-metal stents, drug-eluting stents, and bioresorbable stents. The bioresorbable stents segment is estimated to register the highest growth during the forecast period. Growth in this segment can be attributed to the benefits associated with the use of these stents, such as the dissolvability feature which minimizes the risk of restenosis after the interventional procedure.
The other interventional cardiology devices market is further classified into guidewires, vascular closure devices, introducer sheaths, and balloon inflation devices. The vascular closure devices segment is estimated to grow at the highest rate during the forecast period. The increasing demand for vascular closure in minimally invasive interventional cardiology procedures and technological advancements in these devices are driving the demand for vascular closure devices in the other interventional cardiology devices segment.
The interventional cardiology devices market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is expected to register the highest growth due to the improving healthcare infrastructure, the heavy burden of cardiovascular diseases, rising healthcare expenditure, and growth in the demand for interventional cardiology devices.
Given the immense opportunities in the major applications of interventional cardiology devices, market leaders and emerging players are increasingly focusing on the market in the segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.
