In accordance with the recent report by, Credence Research, Inc. “Interventional Cardiology and Peripheral Vascular Devices Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global interventional cardiology and peripheral vascular devices market was valued at US$ 14.53 Bn in 2016, growing at a CAGR of 8.8%.
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Interventional cardiology and peripheral vascular treatment is a preferred alternative to traditional open surgical procedure in cardiovascular disease treatment. Interventional approaches are gaining acceptance in the medical fraternity for treating cardiac disorders and peripheral vascular diseases for being safe and efficient in terms of treatment outcome. The interventional cardiology and peripheral vascular devices market is expected to witness steady growth due to enhanced personal satisfaction of patients experiencing coronary heart disease and peripheral vascular disorders. In the future interventional approach will continue to expand since new technologies take over open surgeries.
The global interventional cardiology and peripheral vascular devices market growth is fuelled by increasing cardiovascular ailments and subsequent high rate of death across the world since heart disease caused 633,000 death of Americans in the year 2015, as per data reported by the National Center for Health Statistics. Peripheral arterial disease affect more than 10 million patients, causing further discomfort and serious complications. Sedentary lifestyle with fat-enriched diet habit, increasing tobacco and alcohol consumption, and stress act as triggering factors for cardiovascular diseases. Apart from these, other two major risk factors of cardiovascular diseases are diabetes and obesity which are also on rise, and would successively boost market growth. Adoption of evolving technology in healthcare facilities, increasing number of cardiac catheterization laboratories and increasing fund for ongoing cardiovascular research have positive impact on the market growth.
The complete report is available at http://www.credenceresearch.com/report/interventional-cardiology-peripheral-vascular-devices-market
Based on the type of interventional cardiology and peripheral vascular devices, the market was dominated by angioplasty stents and angioplasty catheters in the year 2016. Increasing proclivity towards minimally invasive surgical procedure, deployment of angioplasty stents and catheters in cardiac procedures are accelerating. This acts as primary driving force for the lucrative market growth due to lower complication and faster recovery.
On the basis of regional segmentation, North America leads the global interventional cardiology and peripheral vascular devices market owing to advanced healthcare infrastructure, increasing healthcare expenditure in order to develop innovative treatment and growing health awareness in people. Rising prevalence of cardiovascular disorders owing to constantly changing lifestyle and increasing geriatric population primarily drive the interventional cardiology and peripheral vascular devices market. Gradually rising number of percutaneous coronary intervention (PCI) centers in the United States also plays as key driver of interventional cardiology and peripheral vascular devices market. The interventional cardiology and peripheral vascular devices market in Asia Pacific region is expected to witness substantial growth due to developing economies and rising initiatives for betterment of health and rising health consciousness.
Market Competition Assessment:
The major industry players of interventional cardiology and peripheral vascular devices market having interventional cardiology and peripheral vascular devices market includes Cook Medical, Inc., Boston Scientific Corporation, Cardinal Health, Inc., St. Jude Medical, Abbott Laboratories, C. R. Bard, Inc., Medtronic plc., Edwards Lifesciences Corporation, Terumo Corporation, B. Braun Melsungen AG, Baxter International Inc., 3M Company, and other notable players.
Key Market Movements:
- Increasing geriatric population, growing prevalence of cardiovascular disease, rising focus into treatment with lesser complication and improved outcomes, inclining trend towards minimally invasive procedure acted as major drivers of the interventional cardiology and peripheral vascular devices market.
- Conventional treatment and medication are considered to act as threats for interventional cardiology and peripheral vascular devices market.
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