Research Nester has released a report titled “Percutaneous Coronary Intervention Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global percutaneous coronary intervention market in terms of market segmentation by product, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global percutaneous coronary intervention market is segmented by product into PTCA catheters, coronary stents, coronary guidewire and accessories, out of which, coronary stents segment is anticipated to hold the largest market share and is anticipated to cross USD 12864.93 million by the end of 2027 by registering a CAGR of 5.90% over the forecast period 2020-2027. The segment held the market share of 53.84% in the year 2018. Additionally, the PTCA catheters segment is anticipated to attain a CAGR of 5.21% over the forecast period.
The global percutaneous coronary intervention market, which was valued at USD 14490.84 million in the year 2018, is anticipated to achieve a CAGR of 5.39% during the forecast period. Increasing incidences of chronic cardiovascular diseases around the globe, rising number of FDA approved products, which has created vast opportunities for manufacturers of percutaneous coronary intervention to operate in the segment, along with the growing development in the healthcare sector in nations around the world which provides a favorable environment for the service providers are some of the factors anticipated to contribute towards the growth of the global percutaneous coronary intervention market. Further, the global percutaneous coronary intervention market is expected to garner USD 22866.88 million by the end of 2027 and is anticipated to achieve a Y-o-Y growth rate of 6.02% in 2027 as compared to the previous year.
Regionally, the global percutaneous coronary intervention market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America, which held a market share of around 89% in the year 2018, is anticipated to hold the largest market share and expand at a growth rate of 1.47x over the forecast period owing to the presence of nations such as U.S. and Canada, where U.S. held the dominant market share of around 89% during the year 2018, backed by the increase in funds for R&D in healthcare industry, improved healthcare infrastructure and the initiatives taken by the government for the upgradation of percutaneous coronary intervention products.
Rising Incidences of Cardiovascular Disorders
In the statistics by the World Health Organization (WHO), in the year 2016, the global cardiovascular disease death burden is estimated to reach 17.9 million.
Consumption of tobacco, alcohol or an unhealthy diet, coupled with other factors such as high blood pressure and obesity are some of the factors that contribute to cardiovascular diseases. With the growing aging population worldwide, who are highly prone to such type of diseases, along with the growing medical device industry and the increasing advancements observed in the treatment procedures are some of the factors anticipated to drive the growth of the global percutaneous coronary intervention market.
However, concerns regarding high infection risks observed in patients with the utilization of percutaneous coronary intervention procedures and the lack of availability of skilled professionals are some of the factors anticipated to limit the growth of the global percutaneous coronary intervention market.
This report also provides the existing competitive scenario of some of the key players of the global percutaneous coronary intervention market, which includes company profiling of Abbott (NYSE: ABT), Boston Scientific Corporation (NYSE: BSX), Medtronic plc (NYSE: MDT), Teleflex Incorporated (NYSE: TFX), B. Braun Melsungen AG, Getinge AB (STO: GETI-B), Terumo Corporation (TYO: 4543), Asahi Intecc Co., Ltd. (TYO: 7747), Becton, Dickinson and Company (NYSE: BDX) and Biosensors International Group, Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global percutaneous coronary intervention market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.