New Medical Devices market report from Markets and Markets: "Peripheral Vascular & Interventional Cardiology Devices Market (2011 - 2016) - Global Trends & Competitive Analysis"
Williamstown, MA -- (SBWIRE) -- 03/22/2012 -- The global vascular interventional devices market consist of devices used in both coronary and peripheral endovascular procedures which includes balloons, EVAR stent grafts, IVC filters, IVUS & angiography catheters, plaque modification devices, hemodynamic flow alteration devices and accessory devices. This Interventional Cardiology Devices Market was valued at $8.7 billion in 2011 and is poised to grow at a CAGR of 7.8% to reach $12.7 billion by 2016. Moreover, the global stents market for coronary and peripheral procedures was valued at $16.0 billion in 2011 and is expected to grow at a CAGR of 9.5% to reach $25.2 billion by 2016.
A significant growth has been seen in the use of interventional endovascular procedures in the recent years, which is largely driven by healthcare, demographic, and cost-effective factors. The coronary and peripheral vascular markets together contribute to this growth in interventional procedures. The peripheral angioplasty procedures are expected to grow at a faster rate with a CAGR of 8.9% and is expected to reach 3.3 million procedures by 2016, while coronary angioplasty procedures will have a steady growth with a CAGR of 6.7% and estimated to reach 4.5 million procedures by 2016.
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The major driving factor for these markets would be the increasing demand for minimally invasive percutaneous endovascular treatment. As the incidence cases of coronary and peripheral artery diseases continue to rise in the coming years along with increasing trends in co-morbid conditions such as obesity and diabetes, the vascular interventional devices market for treating these diseases would show significant growth in the forecast period. Minimally invasive endovascular procedure refers to the surgery performed with minute incisions in the body to treat plaque blockages in the arteries of the heart and other vessel walls of peripheral organs such lower extremities, neck, kidneys and brain. The principal advantage of these procedures over surgery is short recovery time, short length scars, low risk of infection, bleeding, and shorter hospital stays.
The stents used in interventional procedures represent the largest segment of the market. In the global stents market, drug-eluting stents contributed the largest share with 76% of the total market, generating revenue of $8.9 billion in 2011 and is expected to reach $13.7 billion by 2016. The key driving factor for drug-eluting stents would be the increased usage of these stents, as restenosis complications are considerably reduced by these stents compared to bare metal stents as well as DES show less long-term problems after placement.
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