Interventional cardiology deals with catheter based treatment of heart diseases. Most of these procedures are minimal invasive as they do not require large incisions These procedures include carotid stents and stroke intervention, balloon angioplasty, congenital heart defect correction, Fractional Flow Reserve (FFR), intracoronary stenting, angioplasty, valvuloplasty and coronary thrombectomy. The key driver for this market is increasing prevalence of cardiovascular diseases coupled with rise in patient awareness level regarding them.
Rise in demand for minimally invasive medical procedures and increase of global geriatric population base will further drive the market growth. Minimally invasive procedures exhibit advantages such as decreased pain, low infection risk, shorter recover time. Introducing high end products such as bio absorbent stents owing to the technological advancement will also serve as a market driver.
In addition new emerging applications in the field of hypertension and left atrial appendage occlusion is expected to drive the market demand in future. The market is categorized into five major product segments including balloon inflation devices, PTCA balloons, PTCA guidewires, stents and catheters.
In terms of revenue, stents were market leaders and are expected to maintain a consistent growth rate owing to introduction of technologically advanced products such as bio absorbable stents coupled with low stenosis rate associated with this product. Catheters are devices inserted through a small incision made in femoral artery which is then moved towards the target sire and are second in regards to revenue share owing to growth in demand for angiography catheters. Diagnosis of heart related disorders including congenial heart defects; atherosclerosis etc. is done using angiography catheters. The market for interventional cardiology devices comprises of regions including Europe, Asia-Pacific, North America and rest of the world. Presence of sophisticated healthcare infrastructure along with high patient awareness level made North America a market leader in terms of its revenue share. Interventional cardiology device market in Asia Pacific is expected to grow rapidly. China and India are developing economies with a number of medical needs that are not catered to and will thereby exhibit potential for market growth. Interventional cardiology device market is oligopolistic in nature and the market participants strive to establish their dominance over a particular product segment through development of product with high capability.
Market players such as Johnson and Johnson, Abbott Laboratories, Medtronic Inc and Boston Scientific are market leaders in global coronary stent market.The segment has presence of many untapped opportunities that instigated new market players including Terumo medical to enter this market. Terumo Medical a Japanese manufacturer has successfully entered the coronary stent market through the launch of drug extracting coronary stent called Nobori.
In addition, Boston Scientific Corporation is a market leader owing to presence of an extended product portfolio in the drug extraction segment stent platform, for instance Taxus and Promus and also its strong market platform assists in effective marketing of its products. For More Information About Interventional Cardiology Devices Market Research Report Visit - http://www.grandviewresearch.com/industry-analysis/interventional-cardiology-devices-market-analysis