Overview of the global interventional cardiology market
The global interventional cardiology market is anticipated to grow at a steady rate and will post a CAGR of more than 7% during the forecast period. The growing demand for minimally invasive (MI) procedures will drive the growth prospects for the global interventional cardiology market in the forthcoming years. Some of the major factors responsible for the growing preference for MI includes faster recovery, less pain, fewer post-surgery infections, reduced hospital stays, minimized incision marks, controlled bleeding, and minimal complications and high accuracy. Also, MI artery stenting enhances the surgical precision by providing a 3D view of the patient and allowing the manipulation of small surgical tools for the placement of stents in the individual's body. As a result, 3D-MRI techniques for improved imaging has increased the popularity of MRI procedures, which will eventually increase the demand for cardiac surgeries.
The growing popularity of hybrid procedures will drive the growth prospects for the global industrial castings market over the next four years. According to the industry research report, one of the major factors responsible for the growing preference for hybrid procedures is their ability to eradicate plaque entirely from the blood vessels and offer qualitative results to patients.
Competitive landscape and key vendors
The global interventional cardiology market is highly competitive and diversified due to the presence
Overview of the global thrombectomy devices market
The global thrombectomy devices market is anticipated to grow at a steady rate and will post a CAGR of close to 6% during the forecast period. The growing trend of acquiring small specialized hospitals by tier-1 hospitals will drive the growth prospects for the global thrombectomy devices market for the next four years. This trend influences the market positively by increasing the patient care management. The acquisition of smaller hospitals by the larger ones helps to train the healthcare staff, physicians, and nurses with better equipment and techniques. This helps in the enhancement of their skills and ensures positive outcomes in patient management and the diagnosis of peripheral artery disease (PAD). Also, the rising cases of peripheral artery disease and limb amputation in the US increases the procedure volumes. Moreover, the peripheral vascular procedures and thrombectomy procedures and techniques used by healthcare professionals have improved with the increasing number of M&A of hospitals. For instance, in the UK, hospitals are acquired by the National Health Service (NHS) for providing better facilities to patients. Other factors driving the requirement of more number of vascular specialists include the growing incidence of stroke cases that triggers the establishment of stroke units in hospitals.
In terms of geography, the Americas accounted for the maximum market share during 2015 and will continue to dominate the market until the end of 2020. One of the major factors responsible for the market’s growth in the region is the increasing incidence of cardiovascular diseases that contributes to the increased demand for thrombectomy devices. Another factor responsible for the market’s growth is the changing preference of cardiologists for peripheral vascular procedures.
Competitive landscape and key vendors
Overview of the global vascular guidewires market
The market research analyst at Technavio predicts that the global vascular guidewires market will grow steadily and post a moderate CAGR of around 6% by 2020. One of the major factors positively affecting this market’s growth will be the growing demand for minimally invasive (MI) procedures. The rising demand for MI procedures will be due to benefits such as faster recovery time, less pain, fewer post-surgery infections, reduced hospital stays, reduced incision marks, bleeding control, minimal complications, and heightened accuracy. Advances in surgical techniques and improvements in equipment handling results help in enhancing surgical precision with a 3D view of the patient; thus, allowing manipulation of small surgical tools for the placement of stents in the individual's body. Also, the usage of guidewires made of materials that provide better flexibility, support, and tracking of the stent during the procedure will lead to the accurate placement of stents as they allow distal device delivery and catheter exchange without the loss of distal wire position.
During 2015, the Americas dominated the market, accounting for approximately 48% of the total market share. The adoption of technologically advanced interventional vascular devices will contribute to the growth of the market. The vendors will invest in research and development of services with advanced medical technologies that will help improve patient outcomes during surgeries, which, in turn, will lead to the progression of the market during the forecast period.
Competitive landscape and key vendors
The market appears fragmented due to the presence of several vendors consisting of both regional and local players who compete to introduce low-cost vascular guidewires. Vendors are investing in resources for the development of products with advanced features such as
Overview of the global ventricular assist devices (VADs) market
According to the market research analysts at Technavio, the ventricular assist devices (VADs) market is expected to witness rapid growth at a staggering CAGR of more than 12% over the forecast period. Due to an impending shortage of heart donors and the high cost of heart transplantation, the VADs market is anticipated to have a positive outlook in the coming years. Cardiovascular diseases sometimes lead to heart failure, and it becomes imperative for the patient to undergo heart transplantation. However, it is quite difficult to get a heart transplant due to the shortage of heart donors. It has been observed that with each year, the number of people who require heart transplants is rising, while only a few donors are available. This has resulted in an increase in the average waiting time for heart transplantation. Moreover, heart transplantation procedures are very expensive, making them unaffordable for many people, thereby leading to an augmented demand for VADs. Many people are using VADs due to their cost-effectiveness and easy availability. Unlike artificial hearts, VADs help the heart rest after cardiac surgeries and can also be implanted in people awaiting donor hearts and for long-term use in individuals with advanced congestive heart failure.
Small companies are forming partnerships with hospitals and other companies to develop advanced technologies for market entry. However, only a few products are in their development stage or have received regulatory approval in one region. These products are highly advanced and specific to the preference of physicians. Post approval, these advanced devices will be increasingly adopted and will pose a serious threat to large companies such as Thoratec and ABIOMED. This will bolster the growth prospects for this market during the predicted period.
Overview of the global angioplasty balloons market
Comprehensive market research carried out by the analysts at Technavio has shown that the global market for angioplasty balloons will grow at a moderate CAGR of over 3% during 2016 to 2020. Much of this market’s growth can be attributed to the recent emergence of digital cath labs in hospitals. Cath labs or cardiac catheterization laboratories in hospitals have the capability to carry out diagnostic and therapeutic procedures, and can also be used to conduct normal procedures such as the monitoring of blood flow and heart pressure. Recent advances in technology, especially in the area of catheterization, like robot-assisted catheterization for percutaneous coronary intervention (PCI), has led to the development of advanced digital imaging systems. As these systems help to improve the detection and intervention of cardiac diseases, its demand among the healthcare end users will rise substantially over the next four years.
This market study considers three key regions to estimate this market’s growth rate during the forecast period. Out of the three regions considered for estimating this market’s growth potential, the Americas is predicted to account for more than 40% of the overall market share by 2020. The strong growth of this market in the Americas can be attributed to the high adoption of balloon angioplasty devices for carrying out angiographic procedures as they are minimally invasive. Since these devices improve the quality of life, offer better patient healthcare benefits, and minimize hospital stays, its demand among the patients will increase substantially during the predicted period.
Competitive landscape and key vendors
The global angioplasty balloons market will exhibit steady growth and is characterized by the presence of
Overview of the global flow diversion aneurysm treatment market
Technavio’s market research analyst have predicted that the global flow diversion aneurysm treatment market will grow at a CAGR of more than 14% by 2020. Flow diversion aneurysm stenting is one of the most widely accepted minimally invasive (MI) procedures for the treatment of intracranial aneurysm. Surgeons, interventional cardiologists, radiologists, and neurologists have the expertise to perform this procedure. The growing acceptance of flow diverters by physicians across the globe has led to the increased use of other endovascular stents. Many hospitals and healthcare centers worldwide are recommending the procedure to people with carotid artery stenosis. Also, several vendors are focusing on getting clinical data and findings that support the adoption of flow diverters, which will enable manufacturers and researchers to develop new technologies for treating intracranial aneurysm. The growing demand for minimally invasive endovascular surgeries will significantly contribute to the growth of the global flow diversion aneurysm treatment market during the predicted period.
According to this market research report, the products available for flow diversion aneurysm treatment are in the initial stages of approval, and over 80% of the products present in the market have got CE mark approval. Regions such as Germany and Western Europe account for the maximum number of flow diversion aneurysm treatment diverters in the market. Several pure play companies such as Phenox and Acandis are performing rigorous clinical testing to
The market for cardiovascular devices is expanding with the rising burden of cardiovascular disease. Developed countries currently dominate the market. However, the market is expected to grow significantly in developing countries due to an increased number of patients affected by cardiovascular diseases. Changing lifestyles and chronic conditions such as obesity are contributing to the growth of this market.
Vendors in the cardiovascular medical device market are focusing on developing new and improved products and technologies to address the changing market dynamics.