Tepid Growth Expected for Interventional Cardiology Devices Market

Slow and steady. Such is the growth forecast for the worldwide interventional cardiology devices market over the next half-decade.  

Medi-Tech Insights estimates the sector—valued at $6.7 billion in 2021—to expand 2% to 3% in the next five years. Growth drivers include the rising geriatric population and corresponding increase in the prevalence of coronary artery diseases; growing incidence of diabetes and concomitant increased risk of coronary heart disease; technological advancements in interventional cardiology devices; and favorable reimbursements for interventional cardiology procedures.
 
Interventional cardiology is a branch of cardiology that utilizes nonsurgical, catheter-based treatments for structural heart diseases. It utilizes devices such as catheters and sheaths; guidewires; balloons; stents; vascular closure devices; atherectomy devices; intravascular ultrasound (IVUS); and other devices to repair narrowed arteries, damaged or weakened blood vessels, heart valve disorders, and congenital heart diseases.
 
A rising prevalence of cardiovascular diseases and hypertension, a higher degree of unmet clinical needs, and rising affluence are creating ample opportunities for the interventional cardiology devices market in the APAC region. The market’s growth in this area is likely to be driven by China and India. Considering the lucrative prospects of the interventional cardiology devices market in the APAC region, prominent companies have expanded their footprint in the region. For instance, in March, Boston Scientific Corp. expanded its footprint in India with its second R&D Center, which addresses patient needs in India, APAC, and worldwide. It also provides expertise to all of the company’s diverse therapy areas, namely interventional cardiology, peripheral interventions, cardiac rhythm management, endoscopy, neuromodulation, urology, and pelvic health.
 
Abbott also intends to expand coverage and resources in training programs related to cardiovascular treatment in China. Abbott owns two training centers there—the Abbott Medical Advanced Technology Center in Beijing provides doctors with first-class cardiological learning experiences and practice opportunities while the Crossroads-Abbott Academic Center in Shanghai provides interventional treatment training for physicians from different regions in China, making medical treatment and standardized treatment and care more accessible to patients in remote areas.
 
“China is one of the most prominent markets for cardiovascular diseases. The demand from patients to be treated as well as doctors to get trained is humongous. This is why interventional cardiology device manufacturers are investing in China,” the director of a leading U.S. stent manufacturer said.
 
The interventional cardiology devices market is a technology-driven market and is marked by product enhancements/innovations. In May, Medtronic received U.S. Food and Drug Administration (FDA) approval for the Onyx Frontier drug-eluting stent (DES), used for treating patients with coronary artery disease (CAD). It offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent.
 
In April, Translumina launched VIVO ISAR, its latest generation dual drug polymer-free coated stent (DDCS), in various international markets including Europe.
 
The global interventional cardiology devices market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner market share. In April, Transit Scientific announced FDA clearance of its XO Cross Support Catheter Platform to include coronary use. The platform is indicated to guide and support a guidewire during access of the peripheral or coronary vasculature, allow for wire exchanges, and provide a conduit for delivery of saline solutions or diagnostic contrast agents.
 
In April, Boston Scientific close its acquisition of Baylis Medical Company Inc., a provider of advanced transseptal access solutions as well as guidewires, sheaths and dilators used to support catheter-based left-heart procedures. The acquisition allows Boston Scientific to integrate the Baylis platforms with its existing electrophysiology and structural heart offerings, further strengthening its position in the cardiology market.
 
The interventional cardiology devices market is expected to continue to grow in the coming years due to growing cardiovascular cases, growth opportunities in the APAC region, technological advancements in interventional cardiology devices, and favorable reimbursement in key markets. The sector is marked by the presence of key market players such as Medtronic, Boston Scientific, Abbott, Medinol, Biotronik, SMT, Terumo, Lepu Medical, and Microport, among others.