North America Interventional Cardiology and Peripheral Vascular Devices Market, By Product (Angioplasty Balloons, Stent, Catheters, Endovascular Aneurysm Repair Stent Grafts, Inferior Vena Cava (IVC) Filters, Plaque Modification Devices, Accessories and Hemodynamic Flow Alteration Devices), Type (Conventional and Standard), Procedure (Iliac Intervention, Femoropopliteal Interventions, Tibial (Below-The-Knee) Interventions, Peripheral Angioplasty, Arterial Thrombectomy and Peripheral Atherectomy), Indication (Peripheral Arterial Disease And Coronary Intervention), Age Group (Geriatric, Adults and Pediatric) End User (Hospitals, Ambulatory Surgery Centers, Nursing Facilities, Clinics and Others), Distribution Channel (Direct Tender, Third Party Distributors and Others), Country (U.S., Canada & Mexico) Industry Trends and Forecast to 2029
Market Analysis and Insights : North America Interventional Cardiology and Peripheral Vascular Devices Market
North America interventional cardiology and peripheral vascular devices market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.7% in the forecast period of 2022 to 2029 and is expected to reach USD 16,651.03 million by 2029 from USD 9,596.92 million in 2021. The increased prevalence of coronary artery diseases, ischemic heart disease, and vascular disease, the surge in awareness about the timely treatment and use of the devices are likely to be the major drivers which propel the demand of the market in the forecast period.
The term interventional cardiology is an area of medicine within the subspecialty of cardiology and peripheral vascular devices that uses enhanced, conventional and advanced, and other diagnostic techniques to evaluate blood flow and pressure in the coronary arteries and chambers of the heart, as well as technical procedures and medications to treat abnormalities that impair the function of the cardiovascular system. The interventional cardiology and peripheral vascular devices are used since the devices make changes in a sedentary lifestyle. It reduces the complications of chronic cardiac diseases, such as coronary artery disease, ischemic heart disease, and vascular diseases.
Coronary heart disease is the leading cause of death among women. The knowledge about heart and vascular disease can impart healthy lifestyle. Adequate awareness about symptoms and their risk factors may help reduce the population's exposure to modifiable risk factors and contribute to prevention and control strategies. The awareness about the symptoms of cardiovascular and vascular diseases would result in timely treatment.
The drivers responsible for the growth of the North America interventional cardiology and peripheral vascular devices market are the increased prevalence of coronary artery diseases, ischemic heart disease and vascular disease, the surge in awareness about the timely treatment and use of the devices, technological advancements in the cardiology and peripheral vascular devices, increased interest towards non-invasive surgery and favorable reimbursement policies. However, the factors that are expected to restrain the market are the rise in the cost of the devices, the risks observed while using the devices, the rise in product recall, and the availability of alternate treatments. On the other hand, strategic initiatives by market players, rise in healthcare expenditure and increase in research and development activities, and growth in the geriatric population may act as an opportunity for the growth of the North America interventional cardiology and peripheral vascular devices market. The need for skilled expertise, lack of hospital infrastructure, and regulatory approval may create challenges for the North America interventional cardiology and peripheral vascular devices market.
The North America interventional cardiology and peripheral vascular devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Interventional Cardiology and Peripheral Vascular Devices Market Scope and Market Size
The North America interventional cardiology and peripheral vascular devices market is categorized into seven segments: product, type, procedure, indication, age group, end user, and distribution channel.
- Based on product, the North America interventional cardiology and peripheral vascular devices market is segmented into angioplasty balloons, stent, catheters, endovascular aneurysm repair stent grafts, inferior vena cava (IVC) filters, plaque modification devices, accessories, and hemodynamic flow alteration devices. In 2022, the angioplasty balloons segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to an increase in cases of peripheral arterial diseases, increased risk of a sedentary lifestyle, technological advancements in the angioplasty balloons, and the presence of reimbursement policies in healthcare in the U.S. for treatment of cardiac diseases.
- Based on type, the North America interventional cardiology and peripheral vascular devices market is segmented into conventional and standard. In 2022, the conventional segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to the rising prevalence of cardiovascular diseases such as coronary artery diseases, carotid artery diseases, and availability and preference of the conventional interventional cardiology and peripheral vascular devices, by doctors and cardiologists, working in the U.S. and Canada hospitals.
- Based on procedure, the North America interventional cardiology and peripheral vascular devices market is segmented into iliac intervention, femoropopliteal interventions, tibial (below-the-knee) interventions, peripheral angioplasty, arterial thrombectomy, and peripheral atherectomy. In 2022, the peripheral angioplasty segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to technological advancement over the past decade with advanced peripheral angioplasty devices.
- Based on indication, the North America interventional cardiology and peripheral vascular devices market is segmented into peripheral arterial disease and coronary intervention. In 2022, the peripheral arterial disease segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to an increase in peripheral arterial diseases, a rise in the elderly population, and a rise in product approvals.
- Based on age group, the North America interventional cardiology and peripheral vascular devices market is segmented into geriatric, adults and paediatric. In 2022, the geriatric segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market. They are more vulnerable with weak immunity for various vascular disorders and availability of reimbursement policies, such as Medicare for treatment of elderly population at minimum cost, in the U.S.
- Based on end user, the North America interventional cardiology and peripheral vascular devices market is segmented into hospitals, ambulatory surgery centers, nursing facilities, clinics and others. In 2022, the hospitals segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to rise in chronic cardiac disorders, such as coronary artery disease and vascular diseases, rise in surgeries, availability of advanced hospital facilities, and rise in awareness about the treatment of chronic cardiac morbidities in hospitals are predicted to dominate the market.
- Based on distribution channel, the North America interventional cardiology and peripheral vascular devices market is segmented into direct tenders, third party distributors, and others. In 2022, the third party distributors segment is expected to dominate the North America interventional cardiology and peripheral vascular devices market due to rising customer preference, low procurement prices, and reduced cost savings.
North America Interventional Cardiology and Peripheral Vascular Devices Market Country Level Analysis
The North America interventional cardiology and peripheral vascular devices market is analysed and market size information is provided by product, type, procedure, indication, age group, end user and distribution channel.
The countries covered in the North America interventional cardiology and peripheral vascular devices market report are the U.S., Canada, and Mexico.
- In 2022, U.S. is expected to dominate due to the presence of the largest consumer market with high GDP. Moreover, the U.S. has the highest household spending in the world and offers trade agreements with several countries making it the largest market for consumer products, rise in patient populace, presence of major market players and increased technological advancement in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
The growth potential for interventional cardiology and peripheral vascular devices in emerging economies and the strategic initiatives by market players are creating new opportunities in the North America interventional cardiology and peripheral vascular devices market
North America interventional cardiology and peripheral vascular devices market also provides you with detailed market analysis for every country growth in particular industry with the interventional cardiology and peripheral vascular devices sales, impact of advancement in the interventional cardiology and peripheral vascular devices and changes in regulatory scenarios with their support for the interventional cardiology and peripheral vascular devices market. The data is available for historic period 2019 to 2021.
Competitive Landscape and North America Interventional Cardiology and Peripheral Vascular Devices Market Share Analysis
North America interventional cardiology and peripheral vascular devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the interventional cardiology and peripheral vascular devices market.
Some major companies providing the interventional cardiology and peripheral vascular devices are Medtronic, BD., Cordis., Abbott., Boston Scientific Corporation, Cook, Cardiovascular Systems, Inc., AngioDynamics., Edwards Lifesciences Corporation., Biosensors International Group, Ltd., OrbusNeich Medical Company Limited, Merit Medical Systems., Terumo Medical Corporation, B. Braun Melsungen AG, MicroPort Scientific Corporation, Lepu Medical Technology(Beijing)Co.,Ltd and Koninklijke Philips N.V. among others.
DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
The strategic initiatives by market players along with new technological advancements for North America interventional cardiology and peripheral vascular devices is bridging the gap for chronic wounds treatment.
For instance,
- In January 2022, OrbusNeich Medical Co. Ltd. announced that the company launched their new product “Scoreflex NC” and got Premarket Approval (PMA) from U.S. Food and Drug Administration (FDA). This product is a catheter that is intended to be used as dilation catheter in stenotic portion of coronary artery stenosis, thereby expanding their products for the market.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the interventional cardiology and peripheral vascular devices market which also provides the benefit for organisation to improve their offering for North America interventional cardiology and peripheral vascular devices market.
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