According to a new market report published by Transparency Market Research "Interventional Cardiology Devices Market (Bare Metal/Drug Eluting/Bio-absorbable Stents, PTCA Balloons, Scoring Balloons, Guidewires, Guiding Catheters, Angiography Catheters, IVUS, Balloon Inflation Devices) - Global Industry Analysis, Size, Share, Trends and Forecast, 2012 - 2018," the global market for interventional cardiology devices was calculated at USD 15.8 billion in 2011 and is expected to grow at a CAGR of 6.8% from 2012 to 2018 to reach an estimated valued of USD 25.2 billion in 2018.
Albany, NY -- (SBWIRE) -- 01/22/2014 -- This report analyzes the devices and accessories involved in an interventional cardiology procedure by segmenting the market into product types, considering 2011 as the base year for market size and market volume calculations, and forecasted from 2012 to 2018. Each product is further segmented into respective sub-types.
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The interventional cardiology market is segmented based on types into intravascular ultrasound (IVUS), PTCA guidewires, PTCA guiding catheters, balloon inflation devices, PTCA balloons, stents and angiography catheters market. Each of these markets is analyzed by studying the current and future market scenario and their market is estimated for the period 2010 – 2018 in terms of revenue in USD million.
The interventional cardiology market is also segmented based on geography into North America, Europe, Asia and rest of the world regions. The market for all these geographical regions is provided in the report in terms of volume and revenue.
Competitive landscape for each of the product type is provided and the market players are profiled with attributes like company overview, financial overview, business strategies, product portfolio and recent developments. Market shares in 2011 for the key players are provided and recommendations to accentuate market shares and ensure sustainability are provided in this report. Key market players profiled in this report are B. Braun Melsungen AG, Johnson and Johnson, Boston Scientific Group, Abbott Laboratories, Medtronic Inc and Terumo Medical.
The growth of the market is driven by factors such as rising incidences of cardiovascular diseases, increasing demand for minimally invasive procedures, rising number of interventional cardiologists and global aging population. The Asian region offers future growth opportunities owing to the presence of a high degree of unmet medical needs and rising disposable incomes of the consumers. Technological advancements in the field such as the invention of bio-absorbable stents and emerging applications of interventional cardiology in the field of hypertension, LAA occlusion etc., will also fuel the future growth of the market.
The global stents market held majority of the market share in 2011 and is also the fastest growing segment of the market. Its high growth is justified by the advent of revolutionary products like bio-absorbable stents. Bio-absorbable stents and drug eluting stents will reduce the incidences of restenosis significantly and this serves these segments as growth drivers. The global PTCA balloons market will also experience a rapid growth rate during the forecast period, owing to the introduction of scoring balloons in 2012.
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