Interventional cardiology is branch of cardiology that deals with catheter based treatment of cardiovascular diseases. Interventional cardiology uses small flexible tube known as catheter to repair damaged or narrowed heart arteries or other affected parts of heart structure. A large number of heart problems can be rectified by using cardiovascular catheterization. The most commonly used treatment for cardiovascular diseases involve insertion of sheath into artery and cannulising the heart under x-ray visualization. Cannulising heart vessels offers several benefits such as easy accessibility of artery, better control on bleeding during procedure and enhancement of convenience and comfort delivered to patients. Angioplasty and stenting are common types of interventional techniques used to correct heart deformities.
Common conditions which can be effectively treated with interventional cardiology include coronary artery diseases, heart wall diseases and peripheral vascular diseases. Peripheral vascular diseases (PVD) are blood circulation disorder that causes blood vessels outside heart and brain to narrow or block due to arteriosclerosis leading to clot development. It is characterized by reduced weak pulses, cramps and heaviness in muscles. PVD can be treated with medication such as atorvastatin that increases blood flow to arteries and veins. Significant blockage requires high end surgeries such as angioplasty or vascular surgeries performed by inserting catheters in the artery of neck or arm and then threaded it to heart through blood vessels for improved blood circulation.
Increasing geriatric population, rise in demand for minimal invasive surgeries coupled with technological advancements are expected to drive growth of the market. According to a study conducted by American Heart Association in 2017, around 92.1 million American adults are living with some or other type of cardiovascular condition. Such high prevalence of cardiovascular diseases will increase demand for interventional cardiology devices. Furthermore, rise in patient awareness about coronary heart diseases and increasing demand for better healthcare infrastructure especially in emerging economies will propel growth of the market. However, high cost of devices and strict approval process for interventional devices is expected to slow down growth of the market.
Key players operating in the global market include Edwards Lifesciences Corporation, AngioDynamics, Inc., Becton, Dickinson and Company, Abbott Laboratories, Terumo Corporation, Cardinal Health, Inc., and Spectranetics Corporation. New product development is the key strategy adopted by many players operating in this industry to gain competitive edge by acquiring large market coverage. For instance in July 2016, Abbott had announced FDA approval for new product known as Absorb. Absorb is bioresorbable heart stent used for treating coronary heart disease. Absorb is only the treatment approved for treating coronary heart disease by keeping artery open which promotes healing of treated artery.
Emerging markets and technological advancements will provide ample growth opportunities for players operating in the global market. Furthermore, increasing FDA approval for new technologies and devices will drive the growth market in coming years. For instance in October 2012, FDA had approved robotic system for use in interventional cardiology procedures and for catheter ablations for precise controlled over cardiovascular diseases. In addition, development of Nanobots (small size robots) that might have application for targeted medical therapies in the future will revolutionize interventional cardiology and vascular peripheral devices market in coming years.
Interventional Cardiology and Peripheral Vascular Devices Market Segmentation:
By Product Type:
- Bare Metal Stents
- Bio absorbable Stents
- Drug-eluting Stents
- Old/Normal Balloons
- Drug-eluting Balloons
- Cutting and Scoring Balloons
- Guiding Catheters
- Angiography Catheters
- Inferior Vena Cava (IVC) Filters
- Permanent Filters
- Retrievable Filters
- Endovascular Aneurysm Repair Stent Grafts
- Thoracic Aortic Aneurysm
- Abdominal Aortic Aneurysm
- Hemodynamic Flow Alteration Devices
- Chronic Total Occlusion Devices
- Embolic Protection Devices
- Plaque Modification Devices
- Atherectomy Devices
- Thrombectomy Devices
- Introducer Sheaths
- Vascular Closure Devices
- Balloon Inflation Devices
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country