In a recent published report, Kenneth Research has updated the Market report for Interventional Cardiology Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Interventional Cardiology Market Products.
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Interventional cardiology is the catheter-based treatment of cardiovascular diseases (CVDs). Certified cardiologists who perform these procedures are known as intervention cardiologists. Interventional procedures are specialized examinations designed for the diagnosis or treatment of diseases. It uses minimally invasive technique, performed under the guidance of images, for treating maladies. Interventional procedures in cardiology are carried out using cardiac monitoring and medical devices. According to Netscribes, the global interventional cardiology market is projected to expand at a compound annual growth rate (CAGR) of 7.0% over 2018–2023, generating USD 23.39 Bn in revenue by 2023.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The global interventional cardiology market can be segmented based on type (stents, catheters, PTCA balloons, plaque modification devices, embolic protection devices, vascular closure devices, chronic total occlusion, imaging systems, guidewires, and others [accessories, introducer sheath, etc.) and based on end user (hospital, catheterization labs, and ambulatory surgical centers).
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Type segment insights:
The plaque modification devices market is expected to grow the fastest at a rate of 9.0% during the forecast period (2018-2023) owing to its sustainable benefits such as minimizing vessel trauma and reducing plaque burden. With 27% market share, stents contributed the highest revenue share in 2017. Increase in prevalence of CVDs coupled with benefits of stenting, such as rapid return to normalcy, improving blood flow, and brief hospitalization.
End user segment insights:
Hospitals held the largest market share (48%) in 2017. Ambulatory surgical centers (ASCs) are expected to grow at a significant rate of 9.6% during the 2018-2023 period. With accelerated outpatient procedures, the prominence of ASCs is also swelling.
Regional insights:
The global interventional cardiology market can be divided into regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America led the global interventional cardiology market with a share of 38% in 2017. Asia-Pacific is expected to expand at a CAGR of 7.6% over 2018–2023. Wide adoption of stents is mostly magnifying the market share.
Companies Covered:
1. Medtronic PLC
2. Boston Scientific Corporation
3. Abbott Laboratories S.A.
4. C. R. Bard, Inc.
5. Johnson & Johnson Pvt. Ltd.
6. Edwards Lifesciences Corporation
7. Terumo Corporation
8. LivaNova, PLC.
9. B. Braun Melsungen AG
10. Teleflex Incorporated
11. MicroPort Medical Apparatus (Shanghai) Co. Ltd.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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