Interventional cardiology is a catheter-based diagnosis and treatment used for the treatment of vascular diseases, acquired structural heart diseases, and coronary artery diseases. The steerable catheters are excessively used in the interventional cardiology as they possess technologically advanced characteristics. Interventional cardiology tracks the pressure in the coronary arteries and blood flow with the help of diagnostic techniques, such as specialized imaging. It is also capable of evaluating abnormalities treating medications, which may impair the cardiovascular system.
Globally, the rising prevalence of cardiovascular diseases, including abnormal heart rhythms or arrhythmias, aorta disease and Marfan syndrome, congenital heart disease, coronary artery disease (narrowing of the arteries), deep vein thrombosis, pulmonary embolism, heart attack, heart failure, heart muscle disease (cardiomyopathy), and others globe is expected to drive the global interventional cardiology devices market growth. This can be attributed to the drastic change in eating and drinking habits among millennials and low to the middle-income population across the globe.
To attend to the situation, the governments in the developed regions, including North America and Europe, are launching umpteen healthcare insurance programs to support the treatment of cardiovascular diseases through interventional cardiology. Moreover, smoking is responsible for causing several cardiovascular diseases and the growing number of smokers across the globe is boosting the market growth to some extent. In the last few years, the use of interventional cardiology has been witnessing a significant surge due to its effectivity to treat the disorders in less time. In line with this, several leading players are heavily investing in the R&D activities to develop innovative products in order to sustain in the cut-throat competition, which is further boosting the market growth.
Global interventional cardiology devices market was valued at USD 15,827.3 million in 2019 and is expected to reach USD 24,581.6 million by 2027.
Constant development and advancement in the interventional cardiology devices, including the development of progressively smaller profile balloon catheters, the introduction of bare-metal stents, improved guidewires, Sirolimus-eluting stent, Everolimus chromium cobalt stent, Everolimus platinum chromium stent, and Magnesium stent is boosting the interventional cardiology devices market.
Biodegradable Polymer Stents: As compared to the first generation of stents, the second generation of stents, including Thin strut, permanent polymer, Everolimus chromium cobalt stent (Xience), Everolimus platinum chromium stent, Zotarolimus stent (Endeavor, Resolute), bioabsorbable polymer, BP-Biolimus stent (Biosensor, Biomatrix, Nobori), BP-Everolimus stent (Synergy), and no polymer Biolimus A9 polymer-free stent (BioFreedom), provide lower rates of stent thrombosis, easy delivery, and long-term outcomes. As per the recent research and development studies, the biodegradable polymer stents possess better efficacy as compared to bare-metal stents. Thereby, the extensive use of stents in interventional cardiology for complicated procedures is expected to drive the market growth. Moreover, the development of magnesium stents, chromium cobalt stents, and bioabsorbable polymer stents, is further reducing the complications in the interventional cardiology, which is subsequently boosting the market growth.
Drug-Coated Balloons: Drug coated balloons were first introduced in 2003. Initially, balloons used paclitaxel as the antiproliferative agent. However, today, it is coated with sirolimus. Clinical trials have shown higher efficacy of drug-coated balloon as compared to the plain balloon catheter. For the treatment of in-stent restenosis, the drug-coated balloon has a wide application scope and overall market growth is expected to be escalated with the use of drug-coated balloon in unfavorable anatomy where stenting procedure is not recommended, which is further boosting the market growth to some extent.
Bioabsorbable Stents: Stent is needed to hold the balloon-induced arterial dissections against the vessel wall. It is not needed to hold the balloon in the long term and can act as a disadvantage for positive vascular remodeling and restoration of normal vessel vasomotion. Stents may also block access to side branches and cause problems in the treatment of in-stent restenosis. To overcome the stent thrombosis, bioabsorbable stents have been introduced in the market, which degrades with time and is then absorbed by the body over the course of the 12-month period. With the use of bioabsorbable stents, an over-time follow up of patients is possible with the use of permitted visualization of the artery segments through computerized tomography, which is expected to increase the demand for bioabsorbable stents as per future prospective. As of 2015, around 16 bioabsorbable and biodegradable stents were in pre-clinical trials and are expected to be marketed during 2024–2026.
The global interventional cardiology devices market is segmented into product type and region.
By product type, the interventional cardiology devices market is segmented into coronary stents, catheters, percutaneous transluminal coronary angioplasty (PTCA) balloons, percutaneous transluminal coronary angioplasty (PTCA) guide wires, and other product types. The coronary stents segment is further segmented into bare stents, drug-eluting stents, and bioabsorbable stents. The catheters segment is segregated into angiography catheters, intravascular ultrasound (IVUS) catheters, percutaneous transluminal coronary angioplasty (PTCA) guiding catheters, and pulmonary artery catheters.
By product type, the catheters segment is expected to account for the highest share in the interventional cardiology devices market. This can be attributed to the growing use of catheters in the treatment of cardiac diseases through interventional cardiology. Catheters are mainly used in the diagnosis of cardiac diseases. Moreover, the dye is inserted into the arteries through catheters, which further diagnoses the blockages and narrowing when illuminated with X-rays. Catheterization is an effective way of diagnosing and avoiding the possibility of heart attacks, which is expected to drive the catheters segment to some extent.
The stents segment is among the major shareholders due to the rising technological advancements in the field, which has increased the efficacy of stents in the treatment of cardiac diseases through interventional cardiology. For the record, the coronary stents are intended to hold the operated part of the artery in its place and avoid re-narrowing of the artery. Coronary are placed in the arteries after most of the interventional cardiology procedures, which is further increasing the demand for coronary stents. The percutaneous transluminal coronary angioplasty (PTCA) balloons segment is expected to grow at a healthy CAGR during the forecast period as an emerging technology. Similarly, the drug-coated balloons are expected to grow at a significant rate in the global interventional cardiology devices market.
Regionally, the global interventional cardiology devices market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa.
North America is dominating the global interventional cardiology devices market and will continue the same during the forecast period. The growth can be attributed to the increasing use of interventional cardiology techniques, the growing prevalence of high cholesterol, obesity, and cardiac diseases, rising consumption of unhealthy food, and sedentary lifestyle across the region. Interventional cardiology has one of the highest success rates in treating cardiovascular diseases, which is why it is extensively used for the treatment of critical conditions under cardiology. In the U.S. alone, around 39.8% of adults aged 20 and above were obese in 2016 and the number is projected to double in the years to come, which is further adding fuel to the market growth.
European interventional cardiology devices market is flourishing with respect to the presence of established prominent players and rising prevalence of cardiac diseases, especially in the U.K, Germany, and Switzerland. As per the European Heart Network AISBL, CVD causes more than 3.9 million deaths every year across the region. To attend to the situation, in the U.K, National Health Services (NHS) is providing insurance and reimbursement for the treatment of cardiac diseases. Moreover, the rise in the demand for highly effective cardiac treatment, such as interventional cardiology is subsequently boosting the interventional cardiology devices market growth in the region. Other factors driving the market growth include the rising prevalence of obesity, increasing healthcare expenditure, growing consumption of alcohol and unhealthy food, and the gradual shift towards a sedentary lifestyle.
Asia Pacific is housing one of the highest patient pool suffering from cardiovascular diseases (CVD). This can be attributed to the growing consumption of unhealthy food in the emerging countries, including India, Singapore, Thailand, Malaysia, Australia, and New Zealand, which is expected to boost the interventional cardiology devices market growth. To attend to the situation, the governments in the region are arduously working to organize umpteen initiatives, programs, and campaigns to educate the people regarding cardiovascular diseases and their effects on life. In the region, India, Singapore, and Thailand are some of the major contributors to the interventional cardiology devices market.
Some of the key players in the global interventional cardiology market include B. Braun Melsungen AG, Biotronik, Abbott Laboratories, Biosensors International Ltd, Boston Scientific, Terumo Medical Corporation, Cardinal Health, Cook Medical Inc., and Medtronic Inc.
By Product Type