Interventional cardiology and peripheral vascular devices are the types of devices that are used to treat different cardiovascular conditions with the help of catheters, with minimal invasion. These devices are specially used to treat patients related to heart problems.
The Global "Interventional Cardiology and Peripheral Vascular Devices Market" is predicted to reach at a high at a CAGR during the forecast period (2022-2029).
Rapid technological advancements in peripheral vascular devices are expected to drive market growth.
Peripheral arterial disease (PAD) has changed over time as the prevalence of associated risk factors and co-morbidities—including the increase in insulin-dependent diabetes and the changing dynamic of tobacco use—has evolved. Endovascular therapies specifically have grown with the explosion of new technologies. There are numerous options for patients with disease amenable to endovascular therapy. For instance, balloon angioplasty and stenting have provided a strong base for endovascular therapy, and atherectomy developed as an additional option in anatomic locations not normally amenable to stents, including the common femoral artery or popliteal artery. Atherectomy has become widely adopted across specialities with four main function methods: directional, rotational, orbital, and laser atherectomy.
In contrast, directional atherectomy functions using a carbide cutting blade with varying sizes to customize the type of lesion. A distal protection device is placed, and then the blade rotates and is moved across the lesion. As the blade is advanced, the particles are contained by the protection device.
The approval processes in low-income countries are stringent for interventional cardiology & peripheral vascular devices, as these are highly specialized devices introduced in the body. The cost of stents increases with advancements in technology. For instance, the price of bioabsorbable stents is twice as much as the cost of drug-eluting stents. The cost of drug-coated balloons is also high compared to other interventional cardiology and peripheral vascular devices. Moreover, the lack of hospital infrastructure and easy availability of alternative treatments can challenge the interventional cardiology and peripheral vascular devices market.
COVID-19 Impact Analysis
The epidemic caused by the SARS-CoV-2 virus resulted in a global lockdown and wreaked havoc on interventional cardiology and peripheral vascular devices. There is an increased risk for people suffering from heart diseases to contract the virus, especially those prone to heart attacks, and there is a high probability of death if the virus is not diagnosed on time. Moreover, there are serious concerns about the long-term worsening of cardiovascular health outcomes due to a lack of timely diagnosis. There are very few multiple stakeholders for patient access to cardiovascular treatment and therapeutics. Also, the devices like stethoscopes may increase the risk of the virus when used to listen and identify specific heart sounds such as clicks, murmurs and rubs of the Covid-19 positive patient. Additionally, the pandemic is interrupting the medical supply chain, and many companies will vary to other geographic regions in the future to ensure that products remain available and protect their supply chain. However, the situation is expected to improve gradually in the forecast period.
PTCA Balloons segment is expected to hold the largest market share in the interventional cardiology and peripheral vascular devices market.
The PTCA balloons segment accounted for the largest market share in 2020. Its advantages in coronary atrial disease treatment, including reduced artery narrowing that improves the blood flow, lead to higher product preference. For instance, Coronary angioplasty, also called percutaneous coronary intervention, is a procedure used to open clogged heart arteries. Angioplasty uses a tiny balloon catheter inserted in a blocked blood vessel to help widen it and improve blood flow to the heart. Angioplasty is often combined with the placement of a small wire mesh tube called a stent. The stent helps prop the artery open, decreasing its chance of narrowing again. Most stents are coated with medication to help keep the artery open (drug-eluting stents). Rarely, bare-metal stents are used.
Moreover, angioplasty can improve symptoms of blocked arteries, such as chest pain and shortness of breath. It is also often used during a heart attack to quickly open a blocked artery and reduce the amount of damage to the heart. Therefore, the above statements have increased the demand for interventional cardiology and peripheral vascular devices. Thus, the segment is expected to hold the largest market share in the forecast period.
The valvuloplasty segment is expected to hold the largest market share in the interventional cardiology and peripheral vascular devices market.
The valvuloplasty segment accounted for the largest market share in 2020. According to the Centers for Disease Control and Prevention, approximately 13% of the population suffers from valvular heart disease. Valvuloplasty offers comprehensive applications in severe valve narrowing and narrowing of the pulmonary and mitral valves, among others. Therefore, with the rise in valvular diseases, the segment will observe substantial growth during the forecast timeline.
North America region holds the largest market share in the global interventional cardiology and peripheral vascular devices market
In 2020, North America accounted for the highest revenue share. The increasing prevalence of diabetes, increase in the ageing population, development of minimally invasive procedures, product launches by the market players and easy availability of reimbursement are some factors that the market is expected to boost in the forecast period. For instance, according to the Centers for Disease Control and Prevention, The death rate for diabetes jumped nearly 14 per cent between 2019 and 2020. In 2019, the diabetes death rate was 21.6 per 100,000 populations, rising to 24.6 in 2020. Therefore, high blood glucose from diabetes can damage blood vessels and the nerves that control the heart and blood vessels. Over time, this damage can lead to heart disease. People with diabetes tend to develop heart disease at a younger age than people without diabetes.
Moreover, Biotronik, on September 29, 2021, announced it received U.S. Food and Drug Administration (FDA) approval for its Orsiro® Mission bioabsorbable polymer drug-eluting stent system (BP-DES). Hence, the above statements have increased the demand for interventional cardiology and peripheral vascular devices. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.
Major key players in the interventional cardiology and peripheral vascular devices market are Teleflex Incorporated, InSitu Technologies, Comed, Spectranetics, Hexacath, Lepu Medical Technology, Shenzhen MicroApproach Medical Technology and Medtronic Inc.
Lepu Medical Technology (Beijing) Co., Ltd.:
Lepu Medical Technology (Beijing) Co., Ltd. was established in 1999. It is specialized in developing, manufacturing and distributing high-tech medical devices and equipment. Lepu Medical has grown into a global leading group company in the fields of cardiovascular, neurovascular and peripheral vascular interventions, structural heart diseases, surgical cardiology, cardiac rhythm management, anesthesia and intensive care, in vitro diagnostics and general surgery with products include coronary stents, dilatation balloon catheters, interventional accessories, occlusion devices, mechanical heart valves, electrophysiology catheters, pacemakers, cardiac in vitro diagnosis products, anesthetic products, angiography systems and surgical staplers.
Supercross™ PTA Balloon Dilatation Catheters: PTA balloon catheter is indicated for percutaneous transluminal angioplasty (PTA) in patients with obstructive disease of peripheral arteries.
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