ID: MRFR/MED/2288-CR | 157 Pages | Published By Rahul Gotadki on July 2019
Percutaneous Coronary Intervention Market is expected to register a CAGR of 5.1% to reach USD 23.2 Billion during the forecast period 2022-2030.
$23.2 Billion
5.1%
North America
2022-2030
The percutaneous coronary intervention market size is projected to reach USD 23.2 Billion by 2030 and anticipated to grow at a compound annual growth rate of 5.1% through 2022-2030. Treatment is known as percutaneous coronary intervention, or PCI is used to treat coronary artery disease by opening up narrowed arteries. Heart vessels that have been restricted by plaque buildup may be opened with the use of this surgery, which involves the use of a catheter to insert an implant.
Recent years have seen an increase in heart disease as one of the top causes of mortality for both men and women. Acute heart attacks, angina, heart attacks, and heart problems may all be helped by PCI, which is a procedure that uses small incisions in the arteries that provide blood to the heart. Cardiovascular disease is becoming more and more common, and as a result, PCI has become more important in the last several years. An estimated 3.9 million Europeans die each year from cardiovascular disease, with the EU-wide death toll exceeding 1.8 million. In particular, cardiovascular disease is responsible for around 45 percent of all fatalities in Europe and 37 percent of all deaths in the EU. Having many such people with renal illness has promoted the industry's growth over several years.
This report contains all the information on the global percutaneous coronary intervention market analysis and the market strengths. In addition, the report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global percutaneous coronary intervention market forecast for 2030 is also included in the report.
Covid 19 Analysis
It was anticipated that these markets would expand at a Compound Annual Growth Rate of around 5percent over the next 10 years before the breakout of the Covid-19 virus. While the pandemic is predicted to influence the development of various MedTech industries, the cardiology demand is anticipated to be less affected than the others. Due to their elevated risk of contracting Covid-19 and the time-sensitive nature of their medications, people with cardiovascular conditions need ongoing care.
Percutaneous Coronary Intervention Market Dynamic
Drivers
The expanding senior population, which is more prone to heart illness, the increasing incidence of cardiac disorders, and the increasing desire for minimally invasive treatments are all expected to expand this percutaneous coronary intervention market growth.
Opportunities
Additionally, the adoption of technological improvements within the percutaneous coronary intervention, like sophisticated silicone and polymer implants in growing countries such as China, Brazil, and India, presents chances for the market's development throughout the projection period.
Restraints
Nevertheless, the strict rules imposed by the government about the process can be a barrier to the expansion of the percutaneous coronary intervention market value.
Challenges
Nevertheless, the market's expansion will be slowed if reimbursement policies in undeveloped countries are unjust and unfair. There may also be problems for the industry due to the high expenses of robotically assisted surgery. The backward countries' lack of access to qualified specialists is another factor that would slow the pace of market expansion.
Percutaneous Coronary Intervention Market Cumulative Growth Analysis
Chinese coronary heart disease is the 2nd biggest cause of cardiovascular fatalities, contributing to 23% of urban deaths and 14% of country deaths. CVD is responsible for 41% of China's annual mortality toll, over 3 million people.
Ischemia of the heart affects over 2.4 million Canadians over 20. In 2012, heart disease was the second leading cause of death in Canada, taking the lives of more than 48500 people. CVD also claims the life of one Canadian every seven minutes. In Europe, cardiovascular disease is responsible for over half of all fatalities. When AIDS, tb, and malaria are taken into account, the disease burden of cardiovascular disease in Europe is greater. Hypertension, obesity, alcohol and cigarette use are all factors that lead to an increased incidence of CAD disorders. As the prevalence of coronary heart disease rises, so does the use of percutaneous coronary intervention devices, boosting the global market for these devices.
Percutaneous Coronary Intervention Market Value Chain Analysis
According to the product type, the worldwide percutaneous coronary intervention market has now been split up into the following categories: coronary stents, coronary guidewires, PTCA catheters, and accessories. The market for percutaneous coronary intervention has indeed been segmented into hospitals and treatment centers, ambulatory surgery centers, study and academic institutions, and other organizations based on the kind of end-user they serve.
There are four main categories of products in the worldwide percutaneous coronary intervention industry: catheters, stents, guidewires, and accessories.
Percutaneous Coronary Intervention Market Segmentation Overview
The market is segmented based on: coronary stents, coronary guidewires, PTCA catheters, accessories and geography. As a result, the global percutaneous coronary intervention market trends are expected to witness decent growth during the forecast period.
By Product Type
The market is segmented into Coronary Stents, PTCA Catheters, Coronary Guidewire, and Accessories.
By end-users
The market is segmented into hospitals and treatment centers, ambulatory surgery centers, study and academic institutions, and other organizations based on propulsion types.
Regional Analysis
The worldwide market for percutaneous coronary intervention has been segmented into the following four areas: the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
It is predicted that the Americas will account for most worldwide percutaneous coronary interventions. Percutaneous coronary intervention (PCI) is becoming more popular in the United States and Canada, and that region is projected to take the lead in the next years. Over the projection period, Europe is predicted to have the second-largest market share. Percutaneous coronary intervention procedures, like carotid artery angioplasty and cerebral angioplasty, are driving market expansion in this area.
In the worldwide market, Asia-Pacific is expected to expand at the quickest rate due to the growing incidence of cardiovascular illnesses and improved healthcare facilities and rising income levels. It is projected that the Middle East & Africa percutaneous coronary intervention market share will increase owing to the high frequency of the procedure in Kuwait, Saudi Arabia, and the UAE.
Percutaneous Coronary Intervention Market Competitive landscape
In the worldwide market for percutaneous coronary intervention, the most important tactics that market participants used were innovation, the creation of new products, and acquisitions and mergers.
Major Key Players
Report Overview
The following report comprises of –
Recent Developments
Market Segmentation
Percutaneous Coronary Intervention Market, by Product Type
Percutaneous Coronary Intervention Market, by End User
Percutaneous Coronary Intervention Market, by Region
Americas
North America
Latin America
Europe
Western Europe
Rest of Western Europe
Eastern Europe
Asia-Pacific
Middle East & Africa
Report Attribute/Metric | Details |
---|---|
Market Size | USD 23.2 Billion |
CAGR | 5.1% |
Base Year | 2021 |
Forecast Period | 2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product Type, End User and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Abbott (US), ASAHI INTECC Company Limited (Japan), B. Braun Melsungen AG (UK), Biosensors International Group, Ltd (Singapore), BIOTRONIK (US), Boston Scientific Corporation (US), C. R. Bard, Inc. (US), Comed BV (Netherlands), Cook (US), Cordis (US), Medtronic PLC (US), Meril Lifesciences Pvt. Ltd (India), Merit Medical System ( Utah), and Terumo Corporation ( Japan) |
Key Market Opportunities | Favorable Reimbursement Scenario |
Key Market Drivers |
|
Percutaneous coronary intervention market projected to grow at approximately 5.1% CAGR during the assessment period (2022-2030).
The valuation of the global percutaneous coronary intervention market is estimated to increase to USD 23.2 BN by the end of 2030.
In addition to the rising prevalence of chronic heart diseases, the increasing adoption of PCI procedures performed on patients with coronary artery disease and rising funding for R&D & clinical trials are major tailwinds pushing the growth of the global percutaneous coronary intervention market.
North America holds the largest share in the global percutaneous coronary intervention market, followed by Europe and the Asia Pacific, respectively.
Abbott (U.S.), Boston Scientific Corporation (U.S.), ASAHI INTECC Company Limited (Japan), Cordis (U.S.), Cook Medical (U.S.), Comed B.V. (The Netherlands), C. R. Bard, Inc. (U.S.), Biosensors International Group, Ltd. (Singapore), Meril Lifesciences Pvt Ltd. (India), Terumo Corporation (Japan), Medtronic Plc. (U.S.), B BIOTRONIK (U.S.), Braun Melsungen AG (Germany), and Merit Medical System (U.S.), are some of the top players operating in the global percutaneous coronary intervention market.