According to the latest report published by Acute Market Reports “Percutaneous Coronary Intervention Devices Market - Growth, Future Prospects and Competitive Analysis, 2021-2029,” the global percutaneous coronary intervention devices market was valued at US$ 5.98 Bn in 2020, and is expected to reach US$ 8.70 Bn by 2029, expanding at a CAGR of 4.3% from 2021 to 2029.
Browse the full report Percutaneous Coronary Intervention Devices Market - Growth, Future Prospects and Competitive Analysis, 2021-2029 report at https://www.acutemarketreports.com/report/percutaneous-coronary-intervention-pci-devices-market
Market Insights
Global percutaneous coronary intervention devices market is valued at US$ 5.98 Bn for the year 2020 and is mainly driven by increase in global burden of heart diseases, diabetes and coronary artery disease. Percutaneous coronary intervention is a non-surgical technique to prevent narrowing of the coronary arteries by removing the plaque using PTCA balloon catheters and placement of coronary stents. According to the American Heart Association, an estimated 15.5 million individuals older than 20 years of age had coronary artery disease in the year 2019 and this number is expected to further grow in the future. Other important factor contributing to the growth in number of percutaneous coronary intervention procedures include reduced risk of complications and infections compared to conventional treatment methods. However, lack of skilled professionals to perform the procedures hinders the growth of the global percutaneous coronary intervention devices market.
Based on device types, the global percutaneous coronary intervention devices market is segmented into coronary stents, PTCA catheters, and coronary guidewires. These devices are used in the treatment of coronary artery disease during PCI procedures. Coronary stents segment is expected to grow at substantial pace in the forecast period due to introduction of the new products in the market.
Based on the end-users, the global percutaneous coronary intervention devices market is segmented into hospitals, ambulatory surgical centers (ASCs), and catheterization labs. In terms of market value, hospitals segment is expected to dominate the global percutaneous coronary intervention devices market for the year 2020 due to greater availability of the skilled professionals required to perform the procedure, and greater footfall of target patients in hospitals. However, as the healthcare infrastructure is expanding in both developed and developing economies, and greater preference for specialized treatment locations is observed in both patients and care-givers, the dominance of hospitals is expected to be challenged by catheterization labs.
Based on the geographical segmentation, North America is expected to dominate the global percutaneous coronary intervention devices market for the year 2020 due to greater awareness of the general population about management of heart diseases, and better reimbursement scenario. However, proliferation of medical tourism and the flourishing healthcare market in Asia Pacific will make the region progress at a faster growth rate than the global benchmark. Market players have varied product portfolio from offering only stents to sporting the entire portfolio for PCI. Major players in the global percutaneous coronary intervention devices market include Abbott Laboratories, Inc., B. Braun Melsungen AG, Biosensors International Group, Biotronik SE & Co. KG, Boston Scientific Corporation, Getinge AB, Johnson & Johnson, Medtronic plc, St. Jude Medical LLC, and Terumo Corporation.
