Global Interventional Cardiology Market - 2024-2031

The Global Interventional Cardiology Market reached US$ 14.47 billion in 2023 and is expected to reach US$ 28.67 billion by 2031, growing at a CAGR of 9.1% during the forecast period 2024-2031.

Interventional cardiology is a medical specialty that uses a thin, flexible tube known as a catheter to repair damaged or weakened vessels, narrowed arteries, or other structural issues with the heart. Cardiac interventions frequently eliminate the need for open-heart surgery and provide better outcomes than medication therapy.

It is an important advancement in cardiovascular care, providing patients with effective treatment alternatives that involve fewer risks and faster recovery times. As technology advances, this field is anticipated to develop further, embracing novel treatments and equipment that improve patient outcomes when managing heart disease. Interventional cardiology treats acute and chronic cardiovascular conditions by threading thin catheters and specialized tools to clear the blockage and restore blood flow. It uses minimally invasive procedures to diagnose and treat heart diseases

As per the American Medical Association, interventional cardiology is a branch of medicine within cardiology that evaluates blood flow, and pressure in the coronary arteries and chambers of the heart with the help of specialized imaging and other diagnostic techniques also involves the technical procedures and medications utilized for those abnormalities impairing the functions of the cardiovascular system.

Market Dynamics

The growing cases of cardiovascular diseases, geriatric populations, lifestyle changes, and increasing awareness about cardiovascular diseases are fueling the global interventional cardiology market growth.

The new product launches boost the global interventional cardiology market during the forecast period.

Increasing launches of innovative products is expected to be one

of the significant growth factors for the interventional cardiology

market.

Increased new product launches are considerably driving the interventional cardiology market by expanding treatment options, increasing patient outcomes, and addressing the rising prevalence of cardiovascular diseases. For instance, Abbott launched XIENCE Sierra Everolimus (drug) Eluting Coronary Stent System in India.

XIENCE Sierra is one of the latest generation stents in the XIENCE family, now available to people suffering from blocked coronary arteries. For interventional cardiologists, it brings unparalleled safety to the most complex cases.

In 2024, BIOTRONIK introduced the Micro Rx catheter, a novel rapid exchange microcatheter developed to easily enhance guidewire support during percutaneous coronary interventions (PCI).

The stringent regulations and high costs hinder the global interventional cardiology market growth.

However, the high cost of cardiological intervention and stringent regulations will hamper the global interventional cardiology market during the forecast period. For instance, the U.S. FDA is revising two guidance documents for vendors inventing new coronary, peripheral, and neurovascular guidewires. The FDA reported the draft documents in June 2018 and is yet to gather comments on one of the documents. These documents are expected to cover the performance testing, recommended labeling, and lubricious coatings, which will provide industry and FDA staff with suggestions on the least tyrannical means of evaluating the performance of catheters, guidewires, and delivery systems submitted in premarket approval applications (PMAs) or 510(k) premarket notifications. Furthermore, the average cost of percutaneous coronary intervention for chronic total occlusions was $14,946 ± 7,699, leaving a majority of the population unable to get it performed, thus slowing the global interventional cardiology market growth during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic hurt the global interventional cardiology market since, during the pandemic, there was a large downfall in interventional cardiology procedures. For instance, the British Cardiovascular Interventional society performed a retrospective analysis of all percutaneous coronary interventions (PCI) performed in the United Kingdom during the lockdown imposed by the pandemic in comparison with PCI volumes in the pre-pandemic period.

The retrospective analysis concluded that there was 49% less PCI, with stable angina being hit the hardest, showing a 66% reduction, while the PCI for ST-elevation MI (STEMI) was down by 33%. Furthermore, the pandemic changed people's perspective toward healthy lifestyle choices, which caused a reduction in the cases of cardiovascular diseases, therefore impacting global interventional cardiology negatively.

Market Segmentation Analysis

The stents are predicted to have a high demand during the forecast period (2024-2031).

The stents are expected to dominate the global interventional cardiology market during the forecast period (2024-2031), owing to the new introductions and product approvals in the global interventional cardiology market. For instance, in August 2021, SINOMED launched its HT Supreme Drug-Eluting Stent (DES) in Europe through the first commercial implantation at University Hospital Galway in partnership with the National University of Ireland Galway (NUI Galway). Likewise, in May 2022, the United States Food and Drug Administration (FDA) approved Medtronic plc's Onyx Frontier drug-eluting stent (DES). Onyx Frontier DES leverages the same stent platform as Resolute Onyx DES and with an enhanced delivery system.

Similarly, in January 2021, the FDA approved the Synergy Megatron Drug Eluting stent from Boston Scientific, designed to treat large proximal near the aorta. Furthermore, in May 2021, the CE mark was received by a novel polymer-free self-expanding Amphilimus eluting stent, NiTiDES, from form Alvimedica for superficial femoral artery (SFA) lesions. Therefore, from the above data, stents are anticipated to dominate the global interventional cardiology market throughout the forecast period.

Market Geographical Share

North America is predicted to command the global interventional cardiology market.

North America is estimated to hold a large market over the forecast period (2023-2031) owing to the rising cases of cardiovascular diseases and the presence of key market players in this region. According to the CDC, a U.S. American dies every 34 seconds because of cardiovascular disease. In 2020, cardiovascular disease caused over 697,000 deaths. Furthermore, the existence of key market players such as Abbott, Edwards Lifesciences Corporation, Boston Scientific Corporation, Johnson & Johnson, Medtronic, and Cook Medical Inc., holding large shares of the global interventional cardiology market through different market strategies, are based in the United States, ensures the dominance of this region over the global interventional cardiology market. For instance, in September 2021, Abbott acquired Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots.

Similarly, in August 2022, GE Healthcare collaborated with Boston Scientific to provide innovative interventional cardiac care solutions in India. Furthermore, in January 2022, Medtronic acquired Affero expanding Medtronic's cardiac ablation portfolio. Also, in November 2021, Medtronic launched Arctic Front Advanced Cardiac Cryoablation Catheter Technology for treating Atrial Fibrillation in India. Thus, the data shows North America will dominate the global interventional cardiology market throughout the forecast period.

Market Competitive Landscape

The major global interventional cardiology market players are Abbott, Boston Scientific Corporation, Johnson & Johnson, Medtronic, B.Barun Melsungen, Biosensors International Ltd., Terumo Corporation, Biotronik SE and Co. KG, Edwards Lifesciences Corporation and Cook Medical Inc. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the interventional cardiology market globally. For instance, in July 2022, Terumo India signed a new strategic commercial distribution partnership with Sensible Medical Innovations.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

The product portfolio of Medtronic, Plc. for interventional cardiology contains Endurant II Stent Graft Systems: Which provides the ideal of care with a history of clinical success in treating abdominal aortic aneurysms (AAA). Only the Endurant family of products was developed to address sac regression.