Introduction to Product/ Market Overview
The coronary artery disease results in narrowing down or blockage of the arteries. Coronary dilation catherization is an invasive method that is capable of evaluating a human heart by imaging techniques. During the process, a narrow, long tube-like catheter is inserted into vessel through sheath. The catheter is then moved to the coronary artery by using live X-ray imaging. The coronary dilation catheters provide high end performance balance between crossing, flexibility and push, in order to ensure a multiple vessel dilation by using a stable platform. There are various dilation catheters available for different end use depending on their compatibility with guiding catheters. With growing technology advancements, various improvements have been done and brought up to market in order to reduce complications, better control of arterial injury and improved success rate.
Market Size and Forecast
The global coronary dilation catheter market is anticipated to witness a significant growth over the forecast period i.e. 2019-2027 owing to increasing cardiovascular diseases, rise in consumer awareness regarding the heart problems, rise in prevalence of minimal invasive medical solutions and increasing government investments in the healthcare sector. The Cardiology Department of German Health Center has stated that around 1200 catheter based surgeries are carried out per year. The rising geriatric population and inclination towards unhealthy lifestyle is expected to result in increase in cardiovascular diseases, which is further anticipated to increase the product demand.
The market is segmented by procedures, applications and end users. The procedures segment is further segmented into balloon septostomy, catheter oblation, bipolar pacing, coronary angioplasty, left heart catherization and right heart catherization, out of which, the coronary angioplasty segment is anticipated to have leading shares during the forecast period on the account of its quick procedure and fast recovery benefits. The procedure is less expensive, minimal invasive, easier to perform and doesn’t have a noticeable scar at the end of the process. Additionally, the balloon septostomy segment is expected to witness significant growth on the back of its capability to enhance atrial mixing by dilating an already existing atrial communication. The end user segment is further bifurcated into hospitals and clinics, out of which the hospitals segment is expected to have leading shares on the account of easy availability of basic equipment and infrastructural facilities. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Rise in Cardiovascular Disease and Technical Advancements
The rising geriatric population has resulted in increasing cases of cardiovascular diseases. There have been various measures taken by the key players to expand and penetrate the existing market coupled with favorable reimbursement policies and increasing number of Cath labs which are expected to affect the market growth positively in upcoming years. The technical advancements in the conventional catheter system, for instance, VOYAGER NC by Abbott, CrossSail by Guidant among others are anticipated to boost the market growth.
High cost coupled with side effects associated with the dilation catheters are expected to adversely affect the market growth. The development of these devices requires high capital investment. The continuous usage of these systems leads to various infections which can be life threatening at times. Moreover, stringent rules laid by government for the usage of these systems are expected to hinder the market growth.
Our-in depth analysis of the global coronary dilation catheter market includes the following segments:
By End User
On the basis of regional analysis, the global coronary dilation catheter market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to have leading market shares on the back of rising geriatric population, increasing incidences of cardiovascular diseases as a result of unhealthy lifestyle and prevalence of other health problems such as hypertension in the region. Additionally, the region has a number of key market players and high government funding for research and development in the healthcare sector. Europe is expected to hold second largest market share during the forecast period on the back of high medical expenditure, increased awareness among the people, huge government initiatives and advanced medical facilities. The market in Asia Pacific is expected to witness fastest growth rate during the forecast period on the back of increasing population rate, rising cardiovascular problems, and government initiatives to provide better health care facilities and improved standard of living in the region. Numerous national and international initiatives to provide better healthcare solutions globally are expected to positively affect the market growth during the forecast period.
The global coronary dilation catheter market is further classified on the basis of region as follows:
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