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The interventional cardiology devices market is a multi-billion-dollar market which includes, but is not limited to, drug-eluting stents, catheters, bare-metal stents, guidewires, and percutaneous transluminal coronary angioplasty. The intervention cardiology devices market provides treatment for a range of cardiovascular diseases including coronary artery disease, peripheral vascular disease, and heart valve disease. The global interventional cardiology devices market is anticipated to expand at a CAGR of 6.04% during the 2018-2023 period, and will reach a value of USD 15.43 Bn by 2023. Rising incidence of cardiovascular diseases, along with the adoption of minimally invasive surgeries is expected to drive the interventional cardiology devices market during the forecast period.
Segmentation based on product type
Based on product type, the drug-eluting stents segment contributed the highest revenue in 2018, by replacing the bare-metal stents market, owing to major technological advancements. The segment is anticipated to register a CAGR of 5.71% during the 2018-2023 period, to reach USD 6.71 Bn by 2023. Catheters being the major medium of interventional cardiology procedures, its segment holds a market share of ~27%. The segment is expected to expand at the highest CAGR (7.02%) during the forecast period.
North America accounted for ~38% of the total revenue of the interventional cardiology devices market in 2018, followed by Asia-Pacific (~27%). The Asia-Pacific region is anticipated to expand at the highest CAGR (6.94%) during the forecast period, followed by Latin America, and the Middle East and Africa, expanding at CAGRs of 6.54% and 6.29% respectively. Most of Asia-Pacific's growth is estimated to come from China, Japan, and India due to the increasing incidence of cardiovascular diseases and rising number of diabetic patients.
Boston Scientific Corporation
Edwards Lifesciences Corporation
Johnson & Johnson
B. Braun Melsungen
MicroPort Scientific Corporation