Interventional Cardiology and Peripheral Vascular Devices Market Growth, Trends and Overview for the by 2022
Allied Market Research adds “Interventional Cardiology and Peripheral Vascular Devices Market” new report to its research database. The report provides a comprehensive analysis of current & future trends and emerging avenues for the growth of this market globally.
Key players have adopted product development as their key strategy to cater to the changing needs of the industry. Major players operating in this market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, C. R. Bard, Inc., Cardinal Health, Inc., Cook Medical, Inc., Medtronic plc, St. Jude Medical, Inc., Terumo Corporation, and The Spectranetics Corporation. As of 2015, Medtronic dominated the overall renal denervation market, followed by Abbott Laboratories and Boston Scientific Corporation.
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Interventional Cardiology and Peripheral Vascular Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $25,349 million by 2022, registering a CAGR of 9.7% during the period 2016-2022. Angioplasty stent systems are estimated to generate the highest revenue among all segments throughout the forecast period, owing to technological advancements and development of bioabsorbable stents. North America held the leading position in the global market in 2015, and is expected to maintain its lead in the future. This is attributed to the increase in incidence of heart failures, changes in lifestyle, and high adoption of interventional cardiology and peripheral vascular devices in the region.
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Growth in geriatric population, increase in prevalence of chronic diseases, changes in lifestyle of the people, technological advancements in devices, improvement of healthcare infrastructure in developing countries, development of minimally invasive procedures, and increase in patient awareness propel the market growth. However, stringent approval process for interventional cardiology and peripheral vascular devices is a major factor that hampers the market growth.
Plaque modification devices are projected to be the fastest growing segment, with a CAGR of 13.7% from 2016 to 2022, as these devices provide an efficient alternative when ballooning of arteries fail. In addition, plaque removal is also important before a stent implant as this helps in prevention of restenosis in the arteries. Apart from this, increase in incidences of plaque buildup in coronary as well as peripheral arteries and minimally invasive nature of the procedure will also drive the market.
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