Global Interventional Cardiology Market 2017-2021
About Interventional Cardiology
Interventional cardiology devices are primarily related to heart disease, and most of the heart diseases have some serious medical conditions, such as angina, congestive heart failure, and arrhythmias. These are often caused by partially blocked coronary arteries, which is the most common cause of death globally. Since the 1980s, balloon angioplasty has been the standard method for treating coronary artery disease. Coronary artery disease (CAD) blocks the artery that supplies blood to the heart. It occurs when the coronary artery is narrowed or blocked with the formation of plaque, which forms due to reasons such as cholesterol, fatty deposits, calcium, and other substances.
Technavio’s analysts forecast the global interventional cardiology market to grow at a CAGR of 7.15% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global interventional cardiology market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of interventional cardiovascular devices to key end-users such as hospitals and ambulatory surgical centers (ASCs).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Interventional Cardiology Market 2017-2021
Technavio recognizes the following companies as the key players in the global interventional cardiology market: Abbott Vascular, Boston Scientific, Cordis, Medtronic, and St. Jude Medical
Other Prominent Vendors in the market are: Aachen Resonance, Acrostak, Alvimedica, AngioScore, Arthesys, Asahi Intecc, AtriCure, B. Braun, Biosensors International, Biotronik, BrosMed Medical, C.R. Bard, Cardionovum, Coherex Medical, Cook Medical, Cardiovascular Systems, Elixir Medical, Fortimedix, Gadelius Medical, GaltNeedleTech, Gore Medical, Hexacath, JOTEC, Lepu Medical Technology, Medinol, Meril Life Sciences, Merit Medical Systems, MicroPort Scientific, Natec Medical, OptiMed, Reva Medical, SHOCKWAVE Medical, Simeks Medical, Smiths Medical, Spectranetics, STENTYS, Svelte medical, Teleflex, Terumo, Tokai Medical Products, US Endovascular, and Volcano
Commenting on the report, an analyst from Technavio’s team said: “The introduction of new stents, such as biodegradable scaffolds, bioabsorbable polymers, and bifurcation stents, is projected to increase the utilization of stents in CADs. These 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 conception of bioabsorbable stents has created interest since the past 20 years and the latest advances with the stent dissolving from the treated site with improved lesion have resulted in better enhancement in the treatment with the help of imaging, such as magnetic resonance and computed tomography. Also, these stents have the potential of allowing the vessel growth that does not require surgical removal. The vast application area will encourage patients to undergo stent implantation surgery.”
According to the report, there has been an increase in the incidence and prevalence of cardiac diseases, globally, with the sudden cardiac arrest being the leading cause of death among individuals aged above 40. The rise in vascular disorders has led to an increased sales of access devices in treating cardiac and peripheral disorders. According to CDC, every year, about 8.5 million people in the US aged above 60 suffer from PAD, which is a result of plaque formation in peripheral arteries (leg or pelvis). In the US, about 102,600 PCI procedures were performed in 2015, and these numbers have doubled over the last two years. In 2015, about 18.66 million vascular guide wires units were in demand with coronary guide wires accounting for 14.13 million units and peripheral guide wires with 4.53 million units.
Further, the report states that regulatory bodies have imposed a stringent labeling requirement, and regulatory framework for interventional cardiology devices, such as coronary stents, PTCA catheters, atherectomy devices, LAA closure or occlusion devices as their use leads to various complications. Medical devices are considered to have high risks involved and need to undergo safety examinations to demonstrate medical efficacy before being approved by regulatory agencies. Interventional cardiology devices are Class III devices and require extended clinical trials and PMA applications. Strict product approval processes and safety regulations make it difficult for manufacturers to launch new products in the market. In the US, interventional cardiology devices need to fulfill the US FDA regulations that govern all medical devices. The US FDA prevents unsafe and ineffective devices from entering or remaining in the market. Stringent US FDA regulations have delayed the approval of many products.
Abbott Vascular, Boston Scientific, Cordis, Medtronic, St. Jude Medical, Aachen Resonance, Acrostak, Alvimedica, AngioScore, Arthesys, Asahi Intecc, AtriCure, B. Braun, Biosensors International, Biotronik, BrosMed Medical, C.R. Bard, Cardionovum, Coherex Medical, Cook Medical, Cardiovascular Systems, Elixir Medical, Fortimedix, Gadelius Medical, GaltNeedleTech, Gore Medical, Hexacath, JOTEC, Lepu Medical Technology, Medinol, Meril Life Sciences, Merit Medical Systems, MicroPort Scientific, Natec Medical, OptiMed, Reva Medical, SHOCKWAVE Medical, Simeks Medical, Smiths Medical, Spectranetics, STENTYS, Svelte medical, Teleflex, Terumo, Tokai Medical Products, US Endovascular, Volcano.
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