Interventional Cardiology Devices And Equipment Global Market Report 2024

The interventional cardiology devices and equipment market size has grown strongly in recent years. It will grow from $14.1 billion in 2023 to $15.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth observed during the historic period can be attributed to several key factors, including the prevalence of cardiovascular diseases, an aging population, the increasing demand from patients for minimally invasive procedures, and advancements in clinical guidelines and research.

The interventional cardiology devices and equipment market size is expected to see strong growth in the next few years. It will grow to $21.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The expected growth in the forecast period can be attributed to various factors, including the adoption of personalized medicine, the integration of telehealth services, increased global access to healthcare, and the utilization of robot-assisted interventions within interventional cardiology. Noteworthy trends anticipated during the forecast period encompass the application of advanced imaging technologies, the incorporation of artificial intelligence (AI) in interventional cardiology, the treatment of complex lesions, and the development of next-generation drug-eluting stents (DES).

The growth of the interventional cardiology devices and equipment market is primarily being fueled by the increasing prevalence of cardiovascular diseases. Cardiovascular diseases encompass a range of health issues affecting the heart, blood vessels, and circulatory system. The surge in cardiovascular diseases has led to a rise in healthcare expenditure in the medical equipment sector, further propelling the market for interventional cardiology devices and equipment. According to estimates from the Centers for Disease Control and Prevention (CDC), heart diseases accounted for 697,000 deaths in 2020. Additionally, the World Health Organization (WHO) projects that cardiovascular diseases are expected to cause approximately 23.6 million deaths by 2030.

The primary categories of interventional cardiology devices and equipment encompass angioplasty balloons, angioplasty stents, catheters, plaque modification devices, and other specialized interventional cardiology instruments. Catheters are flexible, tubular medical devices designed for insertion into canals, vessels, passageways, or body cavities to facilitate the injection or withdrawal of fluids or to maintain the passage's patency. The market is further segmented by age group, including newborns (0-30 days), infants (31 days to 1 year), children (1-18 years), and adults (18+ years). These devices find applications across a variety of settings, such as hospitals, clinics, cardiac catheterization labs, and ambulatory surgical centers.

The interventional cardiology devices and equipment market research report is one of a series of new reports that provides interventional cardiology devices and equipment market statistics, including interventional cardiology devices and equipment industry global market size, regional shares, competitors with a interventional cardiology devices and equipment market share, detailed interventional cardiology devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the interventional cardiology devices and equipment industry. This interventional cardiology devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing adoption of minimally invasive procedures is anticipated to drive the expansion of the interventional cardiology devices and equipment market in the future. Minimally invasive procedures involve medical techniques and surgical interventions characterized by small incisions, delicate instruments, and advanced imaging technology for diagnosis, treatment, or surgery within the body. Interventional cardiology devices and equipment are utilized for performing minimally invasive procedures in the heart, offering patients a less risky and less invasive alternative to traditional open-heart surgery. For example, as of January 2023, reports from Intuitive Surgical Inc., a US-based manufacturer of robotic products, revealed that there were approximately 1,875,000 surgical procedures conducted using the Vinci Surgical System. This marked a notable 18% increase compared to the approximately 1,594,000 surgical procedures performed with Vinci Surgical Systems in 2021. Therefore, the increasing adoption of minimally invasive procedures is a significant driver of the interventional cardiology devices and equipment market's growth.

The market for interventional cardiology devices and equipment is being hindered by the high costs associated with procuring and using these devices. These devices include drug-eluting stents and pacemakers, which can be quite expensive. For instance, research indicates that implantable heart devices such as pacemakers and stents are two to six times more costly in the United States compared to Germany and other European Union countries.

One notable trend in the market is the advancement in the technology of interventional cardiology devices. Advanced devices encompass technologically sophisticated imaging modalities like Intravenous Ultrasound (IVUS), Fractional Flow Reserve (FFR), and Optical Coherence Tomography (OCT). These innovations have substantially transformed the treatment of cardiovascular diseases, enabling the introduction of new drug therapies and devices such as guidewires and stents that allow patients to live longer, higher-quality lives, according to a study published by the US Centers for Disease Control and Prevention (CDC).

Leading companies operating in the interventional cardiology devices and equipment market are focusing on developing innovative technological products to meet the growing demand for minimally invasive procedures in the treatment of cardiovascular diseases. For instance, in February 2023, SIS Medical AG, a Switzerland-based medical company, introduced the OPN NC percutaneous transluminal coronary angioplasty (PTCA) dilatation catheter with Twin-Wall technology. This next-generation balloon catheter is designed to deliver superior performance when treating challenging coronary lesions. The OPN NC percutaneous transluminal coronary angioplasty (PTCA) catheter holds the potential to enhance the outcomes of patients with coronary artery disease.

Major companies operating in the interventional cardiology devices and equipment market include GE Healthcare, Abbott Laboratories, Boston Scientific Corporation, Medtronic Inc., Johnson & Johnson, B. Braun Melsungen AG, Biosensors International Ltd., Novacam Technologies Inc., Cook Medical LLC, Biotronik SE & Co. KG, ACIST Medical Systems Inc., Cordis Corporation, Terumo Corporation, Edward Lifesciences Corporation, Cardinal Health Inc., iVascular GmbH, Becton Dickinson and Company, Teleflex Incorporated, Merit Medical Systems Inc., MicroPort Scientific Corporation, Asahi Intecc Co. Ltd., AngioDynamics, C. R. Bard Inc., Endologix Inc., Lombard Medical Limited, Spectranetics Corporation, Vascular Solutions Inc., W. L. Gore & Associates Inc., Cardiva Medical Inc., Cardiovascular Systems Inc., ClearStream Technologies Ltd., Contego Medical LLC, Shockwave Medical Inc.

North America was the largest region in the global interventional cardiology devices and equipment market in 2023. Western Europe was the second-largest region in the interventional cardiology devices and equipment market. The regions covered in the interventional cardiology devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the interventional cardiology devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The interventional cardiology devices and equipment market consists of sales of equipment with technologies such as vascular closure, atherectomy, intravascular ultrasound, fractional flow reserve, and optical coherence tomography (OCT) that are used for the treatment of interventional structural heart diseases. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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