Interventional Cardiology Devices Market to Top $36B by 2032

Solid growth is forecast for the interventional cardiology devices market over the next decade.

Future Market Insights predicts the sector to expand 8.4% annually to reach $36.9 billion in value, up from $16.4 billion in 2022. Main growth drivers include the world’s aging population, the rising incidence of coronary artery disease, new product approvals, and increasing numbers of diabetes cases. However, the availability of alternative therapies, as well as product failures and recalls, could somewhat hinder the market’s growth.
 
COVID-19 has had a global influence on every element of the medical device business, including the market for interventional cardiology equipment. Despite the fact that emergency and outpatient treatments are offered in cardiology departments, the number of patient visits to hospitals has decreased dramatically as a result of nationwide lockdowns and social distancing tactics. This has led to lower sales of interventional cardiology goods.
 
In the United Kingdom, 170,000 individuals die each year as a result of heart and circulation illnesses. With such a large patient population and a high mortality rate, the demand for interventional cardiology equipment is likely to rise in the future years.
 
Diabetes and hypertension are other risk factors that drive the demand for interventional cardiology equipment. Diabetes is more likely to be associated with other illnesses that increase the risk of coronary heart disease. High blood sugar levels might harm the blood arteries that regulate the heart over time.
 
The prevalence of interventional cardiology illnesses will likely rise along with the world’s elderly population, increasing demand for interventional cardiology devices in key markets. India, China, and Brazil are largely untouched interventional cardiology devices markets. Diabetes prevalence and a large geriatric population in these and other rising interventional cardiology devices markets provide considerable potential market opportunities.
  
North America has the biggest share of the interventional cardiology devices market, likely due to higher volumes of diabetes cases, more elderly residents, reimbursement availability, and the presence of important companies.
 
In the product sector, angioplasty stents from the marketing attribution software market is expeced to post the best growth—8% annually through 2032. North America’s marketing attribution software sector is forecast to swell 7.9% annually, with the U.S. market rising 8.2% annually to reach $12.9 billion in the next decade. China’s market expansion is nearly identical to North America’s—the former is expected to rise 7.8 percent annually to reach $2.7 billion in 2032. The United Kingdom’s marketing attribution software market will grow 7.5% annually to hit $1.5 billion by 2032. Japan’s sector, meanwhile, will probably be worth $2.1 billion, growing 6.7% annually, and South Korea’s market is likely to be worth $1.3 billion thanks to a 6.2 percent annual growth rate. 
 
Medtronic, Boston Scientific Corporation, Abbott, Edward Lifesciences Corporation, Cardinal Health, iVascular, Becton Dickinson and Company, B. Braun Melsungen, Terumo Corporation, Biosensors International Group, and BIOTRONIK SE & Co. KGaA are prominent interventional cardiology devices market players.
 
Boston Scientific is the interventional cardiology devices market’s dominant player. The firm manufactures guidewires, stents, catheters, angioplasty balloons, and structural cardiac devices, and has spent the previous three years concentrating on increasing its interventional cardiology portfolio through different organic and inorganic initiatives. Aside from that, the corporation has a substantial presence in the United States. As a result, the United States accounted for 46% of the company’s overall interventional cardiology revenue.
 
Recent market developments include:

• Edward Lifesciences Corporation nabbed Chinese regulatory clearance for the SAPIEN 3 Transcatheter Heart Valve in 2020 to treat patients with severe, symptomatic aortic stenosis (AS) who are unable to undergo open-heart surgery.
• Medtronic gained U.S. Food and Drug Administration (FDA) clearance in 2019 for its next-generation Evolut PRO+ TAVR System to treat symptomatic severe aortic stenosis in patients.
• Abbott received FDA clearance for its MitraClip Heart Valve Repair Device to treat mitral regurgitation in 2019.