Some of the main factors propelling the market’s growth are the aging population and the corresponding rise in coronary artery diseases, the rising number of diabetes cases and the associated elevated risk of coronary heart disease, technological advancements in interventional cardiology devices, and favorable reimbursements for interventional cardiology procedures.
Interventional cardiology is a subspecialty of cardiology that uses nonsurgical, catheter-based therapies for structural heart problems. It uses catheters and sheaths, guidewires, balloons, stents, vascular closure devices, atherectomy devices, intravascular ultrasonography (IVUS), and other devices to treat restricted arteries, damaged or weakened blood vessels, heart valve abnormalities, and congenital heart illnesses.
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APAC Interventional Cardiology Devices Market to See Highest Growth in the Next Five Years
A increasing frequency of cardiovascular illnesses and hypertension, a higher level of unmet clinical demands, and rising affluence are all offering significant prospects for the interventional cardiology devices market in APAC. China and India are expected to fuel growth in the APAC interventional cardiology device market. Given the potential prospects of the interventional cardiology devices market in APAC, several firms have increased their presence in the area. For instance,
- In March 2022, Boston Scientific expanded its footprint in India with its second R&D Center. The new R&D Center addresses the needs of the patients in India, APAC, and around the world. It also provides expertise to all of the company’s diverse therapy areas, namely interventional cardiology, peripheral interventions, cardiac rhythm management, endoscopy, neuromodulation, urology, and pelvic health.
- Abbott also intends to expand coverage and resources in training programs related to cardiovascular treatment in China. Abbott owns two training centers in China. The Abbott Medical Advanced Technology Center in Beijing provides doctors with first-class cardiological learning experiences and practice opportunities. The Crossroads-Abbott Academic Center in Shanghai provides interventional treatment training for physicians from different regions in China, making medical treatment and standardized treatment and care more accessible to patients in remote areas.
“China is one of the most prominent markets for cardiovascular diseases. The demand from patients to be treated as well as doctors to get trained is humongous. This is why interventional cardiology device manufacturers are investing in China.” – Director, Leading Stent Manufacturer, United States
Technological Advancements Drives the Interventional Cardiology Devices Market
The interventional cardiology devices market is a technology-driven market and is marked by product enhancements/innovations. For instance,
- In May, 2022, Medtronic received U.S. FDA approval for the Onyx Frontier™ drug-eluting stent (DES). The Onyx Frontier DES is used for the treatment of patients with coronary artery disease (CAD). It offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx™ drug-eluting stent
- In April 2022, Translumina launched VIVO ISAR, its latest generation dual drug polymer-free coated stent (DDCS), in various international markets including Europe. VIVO ISAR is the first Dual Drug Polymer-Free Coronary Stent technology, which brings together a stent with a superior safety profile without compromising the drug release kinetics. It is the first technology that uses Probucol, an antioxidant and lipid-lowering drug, as a carrier for releasing Sirolimus (an anti-restenotic drug) and thus creates a polymer-free DES platform with uncompromised safety and efficacy
- In March 2022, SIS Medical AG receives FDA 510(k) approval for its lead product, OPN NC® TWIN-Wall Super High Pressure PTCA Balloon. The OPN NC balloon utilizes an unique double balloon (TWIN-Wall) technology invented by SIS Medical AG, providing a super high pressure resistance with a rated burst pressure of 35 atm with a very low compliance. These performance features allow for a perfect preparation of challenging lesions prior to stenting without over-dilating of the blood vessel. The device can also be applied for post-dilatation of under-expanded stents.
Organic and Inorganic Growth Strategies Adopted by Key Players to Establish Their Foothold in the Market
The interventional cardiology devices market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner market share. For instance,
- In April 2022, Transit Scientific announced the FDA clearance of its XO Cross® Support Catheter Platform to include coronary use. The platform is indicated to guide and support a guidewire during access of the peripheral or coronary vasculature, allow for wire exchanges, and provide a conduit for delivery of saline solutions or diagnostic contrast agents
- In April 2022, Boston Scientific announced the close of its acquisition of Baylis Medical Company Inc., a company that offers advanced transseptal access solutions as well as guidewires, sheaths and dilators used to support catheter-based left-heart procedures. The acquisition allows Boston Scientific to integrate the Baylis platforms with its existing electrophysiology and structural heart offerings, further strengthening its position in the cardiology market.
The interventional cardiology devices market is expected to continue to grow in the coming years due to growing cardiovascular cases, growth opportunities in the APAC region, technological advancements in interventional cardiology devices, and favorable reimbursement in key markets.
Competitive Landscape Analysis: Interventional Cardiology Devices Market
The global interventional cardiology devices market is marked by the presence of key players such as Medtronic, Boston Scientific, Abbott, Medinol, Biotronik, SMT, Terumo, Lepu Medical, Microport, among others.
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