The global interventional
cardiology devices market is expected to reach USD 25.16 billion by 2020,
according to a new report by Grand View Research. Increasing prevalence of
cardiovascular diseases coupled with adoption of minimally invasive surgeries
is expected to boost the interventional cardiology device market over the
forecast period. Unhealthy lifestyle habits such as high alcohol consumption,
smoking, and lack of physical exercise are triggering incidences of
cardiovascular diseases. Furthermore, the number of congenital heart disease
patients is on a constant rise and this acts as a growth driver for the market.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/interventional-cardiology-devices-market-analysis
According to a report published by the U.S. CDC (Centers for Disease Control and Prevention) in 2011, congenital heart defects are the most common birth defects in the U.S., affecting approximately 1% of the births every year. The treatment of cardiovascular disorders has changed dramatically due to the introduction of new drug therapies and devices such as guidewires and stents allowing the patient to live better quality and longer lives.
The advent of technologically advanced internal substitutes plays an
integral role in this market and manufacturers focus on developing new products
to curb problems associated with previous versions. For example, the evolution
of stents began from bare metal stents and has now reached a completely new
horizon in the form of disappearing stents (bio-absorbable stents). Stents
accounted for over 70% market share primarily owing to high usage rates in
2013.
Catheters in sync with stent are expected to register steady growth to reach
up to a market size of over USD 2.5 billion in 2020. The growth is primarily
driven by primarily the rising demand for minimally invasive medical procedures
in the field of cardiovascular diseases. Faster patient recovery time and
lesser procedure duration are two most significant factors contributing towards
the rising demand of these medical procedures.
The North America interventional cardiology device market in 2013 was valued
at over USD 5.5 billion, owing to factors such as the presence of favorable
government initiatives encouraging new product development, sophisticated
healthcare infrastructure and increasing patient awareness levels coupled with
relatively higher healthcare expenditures in the region.
On the other hand, the Asia Pacific market is expected to reach over USD 6.4
billion by 2022, growing at a lucrative rate over the forecast period. The
growth is attributed to the presence of large untapped opportunities, rising
healthcare expenditure, cardiovascular disease incidence rate, and disposable
income levels. Prominent players operating in this industry includes Cordis
Corporation, Abbott Laboratories, Medtronic, Inc, Terumo Medical Corporation,
B. Braun Melsungen AG, and Boston Scientific.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
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