Major players in the interventional cardiology devices and equipment market are GE Healthcare, Abbott Laboratories, Boston Scientific Corporation, Medtronic Inc. , and Johnson & Johnson. The global interventional cardiology devices and equipment market is expected to grow from $6.
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Interventional Cardiology Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067868/?utm_source=GNW
7 billion in 2020 to $7.38 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.93 billion in 2025 at a CAGR of 7.7%.
The interventional cardiology devices and equipment market consists of sales of interventional cardiology devices and equipment and related services.Interventional cardiology devices and equipment are used in interventional cardiology, a branch that deals with the catheter-based treatment of structural heart diseases.
This segment is focused mainly on minimally invasive treatments for functional and structural heart diseases using catheter-based approaches to reach the heart under x-ray visualization.
The intervention cardiology devices and equipment market is being restrained by high cost associated with the procurement and use of interventional cardiology devices.The interventional cardiology devices include drug-eluting stents, tiny mesh tubes coated with medicines and pacemakers.
For instance, according to a study the implantable heart device like pacemakers and stents cost two to six times more in US than in Germany and other European Union countries.
Advancement in the technology of Interventional cardiology devices is one of the major trends in the market.Advanced devices cover the technologically advanced imaging modalities such as IntraVenous Ultrasound (IVUS), Fractional Flow Reserve (FFR) and Optocal Cohorent Tomography (OCT).
For instance, according to a study published by the US CDC (Centers for Disease Control and Prevention) the treatment of cardiovascular diseases has changed substantially due to introduction of new drug therapies and devices such as guidewires and stents which allows the patient to live quality and longer lives.
According to The International Standard for Medical Device Manufacturers ISO 13485:2012, which sets standards regarding both product quality and compliance with governmental regulations, the medical devices manufacturing companies should follow all the strictest regulations.Companies earning this certification have consistently met both regulatory and customer requirements.
Within the United States, regulations for medical devices are known as Current Good Manufacturing Practices (cGMP). The FDA’s Center for Devices and Radiological Health (CDRH) is responsible for certifying medical devices should meet appropriate standards before they are made available for patient use.
The interventional cardiology devices and equipment market is being driven by an increase in cardiovascular diseases.Cardiovascular diseases are the health problems which are associated with the blood vessels, circulatory system as well as heart.
The rise in cardiovascular diseases has led to rise in healthcare expenditure in medical equipment market which further drives the interventional cardiac devices and equipment market. According to an estimate by WHO, ischaemic heart disease caused 8.9 million deaths in 2019 while stroke was responsible for 11% of the total deaths. Further, according to an estimate by WHO, cardiovascular diseases are expected to account for 23.6 million deaths by 2030.
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