Interventional cardiology techniques refer to nonsurgical methods for diagnosing and treating narrowed blood vessels in heart, neck abdomen and legs by inserting tube-like devices (catheters) into the blood vessels through minute incisions in the groin. These techniques are minimally invasive and serve as alternatives to open heart surgeries in a variety of cases. The market is segmented in three major product types namely stents, Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons and PTCA guidewires. Catheters and balloon inflation devices fall under the product segment PTCA guidewires.
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Amongst these major product types, the market of stents currently garners the major shares for the overall interventional cardiology devices market. This market segment is also the fastest growing segment of the market, owing majorly to the advent of products such as bio-degradable and drug eluting stents. The introduction of scoring balloons in the PCTA balloons section could also lead to rapid growth of the PCTA balloons segment of the market in near future.The major driving factors of this market are the rising incidences of cardiovascular diseases on a global front, rising population of age-old people, rising awareness about the benefits of interventional cardiology techniques and the increasing population of specialists in this industry across the globe.
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Rapid technological developments that strive to make the basic techniques even more fruitful, such as the discovery of bio-absorbable and drug eluting stents that reduce the rate of re-stenosis and stent thrombosis, have also the market in growing substantially over the years. With devices like this, the procedures are becoming increasingly complication free and consequently more popular.
The market is flourishing due to the general shift in preferences of practitioners based on their ease of use and the decline in complications post procedure. Such shift is especially evident in stents, where the industry has especially worked hard and produced many sophisticated techniques with every new product invention. From the inception with metal stents to the latest bio-absorbable stents, the company has come very far.
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The market of North America is currently the leader in the global interventional cardiology devices market. This is majorly due to the developed economies of the U.S. and Canada. The high awareness among the general population about the benefits of these techniques are the major reasons behind the growth of these geographic segments. Asia, as for many other industries, represents one of the major markets for this industry in the near future. The huge base of population in Asian countries such as China and India, a large share of which is getting old, is the major reason behind the enormous growth potential provided by this region for global interventional cardiology devices market.
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