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Interventional Cardiology Devices Market Value to Reach US$11.16 Billion by the End of 2022

Interventional Cardiology Devices Market

, 13 April 2018 -- The primary driver of the demand for interventional cardiology devices is the increasing prevalence of coronary artery diseases. Organizations such as the WHO and CDC are consistently calling out the rampant growth in the number of patients suffering from heart problems and coronary artery complications

Some of the eminent names such as Medtronic, Abbott Vascular, and Boston Scientific were the leading manufacturers of interventional cardiology devices in the year 2014, collectively garnering market share of about 66.9% of the total market in value. Apart from this majority of shares, the remaining competitive landscape is evenly spread out across the world in medium and small sized market players.

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As per a market research report by Transparency Market Research, the world market for interventional cardiology devices is considered to be extremely dynamic and accounts for large opportunity for consolidation. The competition between these market players is severe and is most likely to increase over due course of time owing to the apparent launch and implementation of innovative devices of interventional cardiology.

However, on the other hand, the existing threat of new market aspirants is anticipated to stay moderate over the forthcoming years. Various regulatory frameworks are becoming increasingly strict and expenses pertaining to research and development are becoming a strong segment in the market. This is expected to avert the entry of medium and small sized market players into the said market for some time.

The world market for interventional cardiology devices is anticipated to progress at a steady growth rate of 2.9% throughout the period of forecast that extends from the year 2014 to 2022, when it comes to revenue. This market revenue was estimated to reach US$ 9.36 bn by the end of the year 2016 and a market value of US$11.16 bn by the end of the year 2022.

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A sizeable segment of the interventional cardiology devices production and requirement is taken up by the region of Europe and North America. The region of North America is anticipated to continue to be the dominant one till the year 2022 and is further expected to reach market revenue of around US$ 4.04 bn by that time. Both the regions of Europe and North America exhibit a high rate of consumption of premium quality and highly priced interventional cardiology devices and the same regions can cater to a high rate of innovation in medical devices, thus resulting in their market dominance.

Taking cue from the data of World Health Organization, TMR Analyst states that around 23.3 mn casualties are anticipated to take place by the year 2030 owing to cardiovascular diseases. Furthermore around 80% of these casualties are expected to occur in the underdeveloped countries. This is an alarming call to the manufacturers of medical devices and that includes makers of interventional cardiology devices.

Furthermore, increased number of patients is directly linked to two significant factors: the expanding base of the elderly population and the increasing problem of obesity which ahs turned into an epidemic in various developed nations.

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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Submitted by hawer on Friday, 13 April 2018 at 3:03 PM
Category: Health Care & Medical
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