Global Cath Lab Services Market 2017-2021
About Cath Lab Services
Cardiac catherization is a procedure used to diagnose and treat cardiovascular diseases (CVDs) and other related conditions. Catherization laboratory or cath lab is an examination room equipped with diagnostic imaging equipment. Cath labs play an important role in the visualization of arteries of heart and heart chambers. Based on the type of services/procedures, the market is segmented into cardiac catherization, vascular angiogram, stenting, and other cardiac procedures.
Technavio’s analysts forecast the global cath lab services market to grow at a CAGR of 5.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cath lab services market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cath Lab Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global cath lab services market: Alliance HealthCare Services, and Alliance Medical.
Other Prominent Vendors in the market are: Ramsay Health Care, Alberta Health Services, Care UK, Campbell County Health, and Netcare Hospital.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of advanced treatment procedures. Currently, cardiac cath labs are involved only in the catherization procedures. Cardiac catherization is the most common procedure performed in the cath labs. It is also one of the highest revenue generators in the cath lab services market.”
According to the report, one driver in the market is rising incidence of cardiac diseases and growth of insurance providers. In the Americas, the US occupies the major market share due to the increasing incidence of CVDs. According to the CDC (2017), about 28.4 million people were diagnosed with heart diseases. About 18.6 million people visit physician offices. About 614,348 deaths were reported in the country due to cardiac diseases by CDC. According to the CDC (2015), about 610,000 deaths were caused because of CVDs in the US. Coronary heart disease was the most common cardiac disease, reporting about 375,000 deaths in the US annually.
Further, the report states that one challenge in the market is managing cath labs with multispecialties. Hybrid cath labs include the installation of various medical imaging equipment such as interventional X-ray systems, ECG devices, and other patient monitoring devices. There is a lack of qualified medical professionals in most cath labs. With the introduction of hybrid cath labs, the management of different imaging specialties is difficult. In the developing countries such as India, South Africa, and Mexico, there is a shortage of experts for handling medical specialties.
Alliance HealthCare Services, and Alliance Medical, Ramsay Health Care, Alberta Health Services, Care UK, Campbell County Health, and Netcare Hospital.