Interventional Cardiology Devices Market Analysis & Forecast 2024-2034: Market By Product; By End-user; and By Region

The global interventional cardiology devices market size was estimated to be USD 13.82 billion in 2023 and is expected to reach at USD 30.46 billion by 2034 with a CAGR of 7.45% during the forecast period 2024-2034. Increasing prevalence of cardiovascular diseases, including coronary artery diseases (CADs), growing technological advancements in interventional cardiology devices, rising demand for minimally invasive treatment, surge in launch of advanced products for better treatment, increasing investment in research & development activities, growing government initiatives to make IC therapies more affordable & available, and surge in approval of innovative stents platforms by regulatory bodies are some of the fundamental factors driving the market growth.

Surge in approval of innovative stents platforms by regulatory bodies is predicted to boost the market growth during the forecast period. Specialized equipment is needed for interventional procedures in order to treat restricted arteries, damaged or weakened vessels, or other impacted areas of the heart anatomy without the need for surgery. Therefore, at hospitals or cardiac catheterization labs, minimally invasive procedures are carried out using interventional cardiology instruments. Thus, there is an increasing need for interventional cardiology devices as cardiovascular diseases (CVDs) become more prevalent. For instance, in May 2022, Medtronic plc has gained approval from the United States Food and Drug Administration (FDA) for the Onyx Frontier drug-eluting stent (DES). This new iteration in the Resolute DES series utilizes the same stent platform as the Resolute Onyx DES but comes with an improved delivery system.

By Product, Coronary stents was the highest revenue-grossing segment in the global interventional cardiology devices market in 2023 owing to rising introduction of next-generation DES, increasing adoption of advanced cardiovascular treatments, growing technological advancements in the field of drug-eluting stents, and surge in regulatory approvals. For instance, in January 2023, The BioFreedom Drug Coated Coronary Stent System (P190020) from Biosensors International has received approval from the U.S. Food and Drug Administration (FDA). This stent system is designed for the treatment of narrowed coronary arteries resulting from coronary artery disease. Additionally, PTCA balloon catheters is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of PCI operations, rising prevalence of untreated CAD.

By End-user, Hospitals & ambulatory surgical centres was the highest revenue-grossing segment in the global interventional cardiology devices market in 2023 owing to growing number of hospitals performing interventional surgeries, increasing number of patient visiting hospitals for coronary procedures, rising healthcare expenditures, and surge collaborations within market players. For instance, in February 2023, Abbott and Cardiovascular Systems, Inc. (CSI) have entered into a formal agreement, with Abbott set to acquire CSI. CSI is a medical device firm known for its groundbreaking atherectomy system utilized in the management of both peripheral and coronary artery disease. Additionally, Clinics & others is predicted to grow at fastest CAGR during the forecast period owing to the increasing access to medical services for people with structural or ischemic heart disease, and surge in number of catheterization laboratories.

North America region is anticipated for the highest revenue share during the forecast period owing to the rising healthcare infrastructure, growing government initiatives for product development, surge in regulatory approvals of novel therapies, and increasing focus on developing novel products & technologies. For instance, in September 2022, The U.S. Food and Drug Administration (FDA) has granted approval to Edwards Lifesciences Corporation for the SAPIEN 3 Ultra RESILIA valve, which is utilized in heart valve replacement procedures. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of CAD, growing demand for better CAD screening, rising government investment in healthcare, surge in technological advancements such as next-generation DES & BRS, and increasing approvals by regulatory authorities. For instance, in April 2022, The Japanese PMDA has given Biosensors International Group, Ltd. permission to use its BioFreedom Ultra and BioFreedom devices in situations involving coronary vascular problems.

Segmentation: Interventional Cardiology Devices Market Report 2022 - 2033

Interventional Cardiology Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)

PTCA Balloon Catheters

• DCB
• Normal
• Specialty

1. Cutting
2. Scoring
3. Lithotripsy Balloons

Coronary Stents

• Bioabsorbable Stents
• Durg-eluting Stents
• Bare Stends

Intravascular Imaging Catheters and Pressure Guidewires

• OCT Catheters
• IVUS Catheters
• FFR Guidewires

Accessory Devices

• PTCA Guiding Catheters
• Diagnostic Catheters
• Introducer Sheaths
• PTCA Guidewires

Interventional Cardiology Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)

• Hospitals & Ambulatory Surgical Centres
• Clinics & Others

Interventional Cardiology Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

North America

• U.S.
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA