Market Overview
The global interventional cardiology devices market size was valued at USD 13.35 billion in 2023. It is estimated to reach USD 24.85 billion by 2032, growing at a CAGR of 7.15% during the forecast period (2024–2032). In recent years, there has been a surging burden of CVDs and other heart-related diseases worldwide. These conditions' increasing incidence and prevalence drive the demand for interventional cardiology devices for diagnosis and treatment. The growing geriatric population, which is more prone to this disease, further adds to the growing burden of this disease, thereby fostering market expansion. Moreover, a rise in the strategic initiatives by the key players is estimated to create opportunities for market growth.
Highlights
- North America is the highest shareholder in the global market
Market Overview
Interventional cardiology devices refer to medical instruments and tools interventional cardiologists employ to diagnose and treat cardiovascular diseases. These devices are commonly used in minimally invasive procedures in a catheterization lab or interventional suite. Interventional cardiology devices commonly used include catheters, stents, balloons, guide wires, and other instruments.
Interventional cardiology devices, in addition to others, have a crucial function in the diagnosis and treatment of coronary artery disease, heart attacks, heart valve issues, and other cardiovascular disorders. Cardiologists can do treatments with reduced patient trauma compared to traditional open-heart surgery, resulting in accelerated recovery periods and enhanced outcomes.
Market Dynamics
Global Interventional Cardiology Devices Market Drivers
Increasing Prevalence of Cardiovascular Diseases (CVDs) and other Heart-Related Diseases
Cardiovascular disease is the primary reason of mortality worldwide for both males and females. In 2019, CVD caused the deaths of 17.9 million individuals globally, or 32% of all fatalities, as reported by the World Health Organization (WHO). Cardiac arrests and cerebrovascular accidents accounted for 85% of these deaths. Moreover, in the year 2019, CVD represented 38% of the total 17 million premature deaths (occurring before 70) caused by non-communicable diseases.
Furthermore, the prevalence of cardiovascular disorders, such as ischemic heart disease, strokes, hypertensive heart disease, congenital heart disease, rheumatic heart disease, cardiomyopathy, myocarditis, aortic aneurysms, and other chronic conditions, is on the rise in the field of diagnostic cardiology equipment. Governments and non-governmental organizations worldwide are raising public awareness about cardiovascular diseases to lessen the disease's financial toll. This identifies them early and provides affordable and secure diagnostic outcomes. As a result, the global market for interventional cardiology devices is experiencing significant growth.
Rising Geriatric Population
The global population is seeing an increase in age, resulting in a greater occurrence of cardiovascular diseases associated with aging. Visual Capitalist reports that in 2022, the global number of those aged 65 reached 771 million, representing approximately 10% of the world's total population. This category has been experiencing exponential growth and is projected to reach a rate of 16% by 2050 and, finally, 24% by 2100.
Moreover, after about thirty years, projections indicate that a quarter of the population in Europe, North America, and Asia will comprise individuals aged 65 and above. With the expanding older population, there is a rising need for interventional cardiology businesses to address illnesses like coronary artery disease and structural heart defects. Therefore, the increase in the elderly population is projected to propel the global market growth.
Global Interventional Cardiology Devices Market Restraint
Complex Regulatory Pathways
Regulatory organizations such as the Food and Drug Administration in the United States or the European Medicines Agency (EMA) in Europe oversee interventional cardiology devices. These authorities have created complex regulatory routes that manufacturers must follow to receive device approval. Moreover, the procedures frequently encompass various phases of preclinical and clinical trials, the compilation of safety and efficacy data, and adherence to quality assurance criteria. The complexity of obtaining regulatory permission for these devices hinders market expansion.
Global Interventional Cardiology Devices Market Opportunities
Rising Strategic Initiatives by the Key Players
In recent years, there has been a rise in the strategic initiatives taken by key players to enhance their market share. For instance, in June 2023, Transluminal, a prominent firm in Interventional Cardiovascular medical devices with production facilities in Germany and India, officially acquired Blue Medical Devices, a company belonging to the Wellinq group and located in Helmond, Netherlands. The company (established in 2013) manufactures a range of advanced balloon catheters, which include drug-coated balloons (DCB) and other specialized balloons designed for complex coronary interventions.
Similarly, in August 2022, GE Healthcare and Boston Scientific partnered to offer comprehensive interventional cardiac care solutions in India. GE Healthcare is a prominent global innovator in medical technology, diagnostics, and digital solutions, while Boston Scientific is a renowned maker of medical devices. The partnership aims to facilitate enhanced accessibility to medical treatment and ultimately enhance cardiac care for patients, hence tackling the prevalent disease burden in the nation. This is estimated to create market expansion opportunities.
| Study Period |
2020-2032 |
CAGR |
7.15% |
| Historical Period |
2020-2022 |
Forecast Period |
2024-2032 |
| Base Year |
2023 |
Base Year Market Size |
USD 13.35 billion |
| Forecast Year |
2032 |
Forecast Year Market Size |
USD 24.85 billion |
| Largest Market |
North America |
Fastest Growing Market |
Asia Pacific |
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Regional Analysis
Based on region, the global interventional cardiology devices market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America Dominates the Global Market
North America is the most significant global interventional cardiology devices market shareholder and is expected to expand substantially during the forecast period. The increasing incidence of CVDs is the main factor contributing to North America's interventional cardiology devices market growth. According to Global Health Data Exchange, the incidence of cardiovascular diseases in the region rose by 13.5% from 2010 to 2019. Likewise, based on the data released by the CDC in June 2020, heart disease is responsible for around 647,000 fatalities in the United States each year. In the US, the average mortality rate from cardiovascular disease (CVD) is one death every 37 seconds. As a result, the rising incidence of these diseases has caused a significant increase in the demand for and use of interventional cardiology devices.
Furthermore, regional institutions are also undertaking efforts to promote the utilization of interventional cardiology devices. For instance, in March 2023, Loma Linda University International Heart Institute became the first center in the western United States to employ a heart assist device, specifically the Impella ECP, to support patients undergoing high-risk percutaneous coronary intervention (PCI) procedures. LLU's heart care team participated in the Impella ECP Pivotal Trial conducted by the Food and Drug Administration (FDA). This trial was aimed to assess the safety and effectiveness of Abiomed's percutaneous left ventricular assist device for high-risk percutaneous coronary intervention (PCI) procedures.
Moreover, regulatory organizations have observed an increase in the approval of innovative devices. For instance, in April 2023, Genetesis, Inc., a prominent company specializing in biomagnetic cardiac imaging solutions, was granted Breakthrough Device designation by the U.S. Food and Drug Administration for their primary imaging product, CardioFlux MCG. Due to this classification, the device can be used to identify patients with myocardial ischemia who may have coronary microvascular dysfunction (CMD). Therefore, all of these variables contribute to the expansion of the regional market.
The Asia-Pacific market is experiencing growth, further facilitated by the government's initiatives to enhance the healthcare system. For instance, in August 2020, the Indian government announced the implementation of a national health ID for every Indian citizen. This measure established a centralized mechanism for the National Health System to authenticate and distinguish individual users. Moreover, the rising per capita disposable income of middle-class households, which constitute a significant portion of the population in Asia, leads to higher expenditures on healthcare. This will fuel the regional market expansion for interventional cardiology devices over the forecast period.
Furthermore, prominent participants in the market are introducing novel diagnostic and treatment technologies to augment their market dominance. For instance, in October 2023, Abbott unveiled India's latest vascular imaging platform, equipped with the advanced Ultreon 1.0 Software. The intra-vascular imaging program integrates optical coherence tomography (OCT) with artificial intelligence (AI), enabling physicians to assess blood flow and obstructions in coronary arteries fully. The cutting-edge imaging program can autonomously distinguish between a calcified and non-calcified obstruction, ascertain the extent of calcium-based obstructions, and quantify the diameter of blood vessels. It also assists physicians in accurately positioning the stent, ensuring it expands and aligns well, and provides immediate feedback to boost accuracy during coronary stenting procedures. These factors enhance the expansion of the regional market.
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Segmental Analysis
The global interventional cardiology devices market is segmented by product type.
Based on product type, the global interventional cardiology devices market is bifurcated into coronary stents, catheters, percutaneous transluminal coronary angioplasty (PTCA) balloons, percutaneous transluminal coronary angioplasty (PTCA) guide wires, and other product types.
Coronary stents are small, flexible mesh tubes inserted into narrowed or obstructed coronary arteries, which are the blood vessels responsible for delivering oxygenated blood to the heart muscle. The narrowing or blockage of these arteries can occur due to the accumulation of plaque, a combination of cholesterol, fat, and other substances. This constriction or obstruction can result in diminished blood circulation to the heart, causing chest pain (angina) or even a myocardial infarction. A coronary stent is implanted into the afflicted artery using a catheter, usually directed through a blood vessel in the groin or wrist to the location of the obstruction. Moreover, there has been an increase in the authorization of innovative products by regulatory bodies. For instance, in August 2022, Medtronic announced the launch of its latest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES), after receiving CE Mark approval. These factors contribute to the growth of the segment.
Percutaneous transluminal coronary angioplasty (PTCA) balloons, also known as angioplasty balloons or angioplasty catheters, are medical instruments employed in a less invasive intervention for treating coronary artery disease (CAD). These balloons are employed in the medical procedure called percutaneous coronary intervention (PCI) or angioplasty. Moreover, PTCA balloons are available in various sizes to meet varying artery diameters and lesion characteristics. These devices can be constructed using materials like nylon or polyethylene, and they frequently have radiopaque markers to aid the interventional cardiologist in visualizing their location during X-ray imaging. PTCA balloons are crucial instruments in the realm of interventional cardiology, enabling the management of coronary artery disease with minimal invasiveness and remarkable rates of success.
Percutaneous transluminal coronary angioplasty (PTCA) guide wires are utilized as medical devices in minimally invasive interventions for the management of coronary artery disease. PTCA guide wires are slender and pliable wires introduced into the coronary arteries by a catheter, usually through the femoral or radial artery. PTCA guide wires are available in various lengths, diameters, and combinations to suit different patients' specific anatomical features and lesion characteristics. The selection of guide wire is contingent upon various criteria, including the precise position and severity of the blockage, the existence of arterial tortuosity or calcification, and the personal preference and expertise of the interventionalist.
Market Size By Product Type
Coronary Stents
Catheters
Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons
Percutaneous Transluminal Coronary Angioplasty (PTCA) Guide Wires
Other Product Types
Impact of covid-19
People's lives and companies were affected by the COVID-19 outbreak worldwide. During the COVID-19 outbreak, delivery service companies confront several obstacles. Due to the tight restrictions, more people are purchasing online. In response, e-commerce and online retail & grocery enterprises faced a big issue in delivering groceries on time. By assigning delivery executives optimal routes, route optimization software helped to reduce vehicle idling time and enhance delivery executive productivity, therefore promoting the route optimization software business during the pandemic crisis.
List of key players in Interventional Cardiology Devices Market
- B. Braun Melsungen AG
- Biotronik
- Abbott Laboratories
- Biosensors International Ltd.
- Boston Scientific
- Terumo Medical Corporation
- Cardinal Health
- Cook Medical Inc.
- Medtronic Inc.
Interventional Cardiology Devices Market Share of Key Players
Interventional Cardiology Devices Market Segmentations
By Product Type (2020-2032)
-
Coronary Stents
-
Catheters
-
Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons
-
Percutaneous Transluminal Coronary Angioplasty (PTCA) Guide Wires
-
Other Product Types
Frequently Asked Questions (FAQs)
The global interventional cardiology devices market size was valued at USD 13.35 billion in 2023. It is estimated to reach USD 24.85 billion by 2032, growing at a CAGR of 7.15% during the forecast period (2024–2032).
Asia Pacific region has the highest growth rate in the interventional cardiology devices market.
Rising prevalence of cardiovascular diseases (CVDs), increasing geriatric population are the major growth factors of the interventional cardiology devices market.
Coronary stents segment is the leading segment for the market during forecast period.
The key players in the global interventional cardiology devices market include B. Braun Melsungen AG, Biotronik, Abbott Laboratories, Biosensors International Ltd., Boston Scientific, Terumo Medical Corporation, Cardinal Health, Cook Medical Inc., Medtronic Inc.
