Interventional Cardiology and Peripheral Vascular Devices Market Introduction 

Interventional cardiology and peripheral vascular devices refer to a range of medical devices and equipment used for the diagnosis and treatment of cardiovascular and peripheral vascular diseases. These devices are used in minimally invasive procedures such as angioplasty, stenting, atherectomy, and embolic protection to open blocked or narrowed blood vessels and restore blood flow. The interventional cardiology and peripheral vascular devices market includes a range of devices such as catheters, guidewires, stents, balloons, embolic protection devices, and atherectomy devices.The demand for interventional cardiology and peripheral vascular devices has been increasing in recent years due to the growing prevalence of cardiovascular diseases and peripheral vascular diseases. Cardiovascular diseases are the leading cause of death globally, accounting for an estimated 17.9 million deaths in 2019. Moreover, the rising geriatric population and the increasing adoption of minimally invasive procedures are also driving the growth of the interventional cardiology and peripheral vascular devices market.

Interventional Cardiology and Peripheral Vascular Devices Market Size

The global interventional cardiology and peripheral vascular devices market size was valued at USD 17.2 billion in 2020 and is expected to reach USD 24.9 billion by 2027, growing at a CAGR of 5.3% during the forecast period (2021-2027).The market growth is attributed to various factors such as the increasing prevalence of cardiovascular diseases, the growing geriatric population, the increasing adoption of minimally invasive procedures, and technological advancements in interventional cardiology and peripheral vascular devices. Moreover, the increasing demand for hybrid operating rooms, rising healthcare expenditure, and the growing focus on value-based healthcare are also expected to drive the growth of the market in the coming years.North America dominated the global interventional cardiology and peripheral vascular devices market in 2020, due to the presence of well-established healthcare infrastructure, high adoption of advanced technologies, and a large patient population with cardiovascular diseases. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, owing to the increasing healthcare expenditure, rising prevalence of cardiovascular diseases, and growing geriatric population in the region.

Interventional Cardiology and Peripheral Vascular Devices Market Share

The global interventional cardiology and peripheral vascular devices market is highly competitive and is dominated by several key players. Some of the major players in the market include Abbott Laboratories, Boston Scientific Corporation, Medtronic, Inc., Terumo Corporation, Cordis Corporation (a Cardinal Health Company), Cook Medical, B. Braun Melsungen AG, C. R. Bard, Inc., and St. Jude Medical, Inc.The coronary stents segment accounted for the largest share of the market, owing to the increasing adoption of drug-eluting stents and the rising prevalence of coronary artery diseases. The guidewires segment is expected to witness the fastest growth during the forecast period, due to the increasing demand for minimally invasive procedures and the growing adoption of advanced guidewires.Geographically, North America accounted for the largest share of the market in 2020, owing to the high prevalence of cardiovascular diseases and the presence of well-established healthcare infrastructure. Europe and the Asia Pacific region followed North America in terms of market share. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, owing to the increasing healthcare expenditure and the rising prevalence of cardiovascular diseases in the region.

Interventional Cardiology and Peripheral Vascular Devices Market Trends

Some of the major trends in the interventional cardiology and peripheral vascular devices market include:

Minimally invasive procedures: There is a growing trend towards minimally invasive procedures, which involve smaller incisions, less pain, and shorter recovery times compared to traditional open surgeries. This trend is driving the demand for advanced interventional cardiology and peripheral vascular devices, such as stents, catheters, and guidewires.

Technological advancements: There have been significant advancements in interventional cardiology and peripheral vascular devices, including the development of drug-eluting stents, bioresorbable stents, and advanced imaging technologies. These technologies have improved the safety and efficacy of interventional procedures and have led to better patient outcomes.

Increasing focus on value-based healthcare: Healthcare providers are increasingly focusing on providing value-based care, which emphasizes the quality of care and patient outcomes, while minimizing costs. This trend is driving the adoption of interventional cardiology and peripheral vascular devices that offer better clinical outcomes, lower complication rates, and shorter hospital stays.

Growing prevalence of cardiovascular diseases: The growing prevalence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is driving the demand for interventional cardiology and peripheral vascular devices. This trend is expected to continue in the coming years, due to factors such as the aging population and unhealthy lifestyle habits.

Rising demand for hybrid operating rooms: Hybrid operating rooms, which combine the benefits of traditional operating rooms and advanced imaging technologies, are becoming increasingly popular for interventional procedures. This trend is driving the demand for advanced interventional cardiology and peripheral vascular devices that can be used in these hybrid operating rooms.

Interventional Cardiology and Peripheral Vascular Devices Market Driving Factors

Some of the key driving factors in the interventional cardiology and peripheral vascular devices market include:

Growing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is driving the demand for interventional cardiology and peripheral vascular devices. Cardiovascular diseases are the leading cause of death worldwide, accounting for approximately 17.9 million deaths per year.

Technological advancements: The development of advanced interventional cardiology and peripheral vascular devices, such as drug-eluting stents, bioresorbable stents, and advanced imaging technologies, has improved the safety and efficacy of interventional procedures. This has led to better patient outcomes and is driving the adoption of these devices.

Increasing demand for minimally invasive procedures: There is a growing trend towards minimally invasive procedures, which involve smaller incisions, less pain, and shorter recovery times compared to traditional open surgeries. This trend is driving the demand for advanced interventional cardiology and peripheral vascular devices, such as stents, catheters, and guidewires.

Rising demand for hybrid operating rooms: Hybrid operating rooms, which combine the benefits of traditional operating rooms and advanced imaging technologies, are becoming increasingly popular for interventional procedures. This trend is driving the demand for advanced interventional cardiology and peripheral vascular devices that can be used in these hybrid operating rooms.

Increasing focus on value-based healthcare: Healthcare providers are increasingly focusing on providing value-based care, which emphasizes the quality of care and patient outcomes, while minimizing costs. This trend is driving the adoption of interventional cardiology and peripheral vascular devices that offer better clinical outcomes, lower complication rates, and shorter hospital stays.

Interventional Cardiology and Peripheral Vascular Devices Market Regional Analysis

The interventional cardiology and peripheral vascular devices market can be analyzed on a regional basis as follows:

North America: North America is the largest market for interventional cardiology and peripheral vascular devices due to the high prevalence of cardiovascular diseases in the region, a large patient population, and high healthcare expenditure. The presence of a large number of key market players and the availability of advanced healthcare infrastructure in the region also contribute to the growth of this market.

Europe: Europe is another major market for interventional cardiology and peripheral vascular devices, driven by the increasing adoption of minimally invasive procedures and the growing prevalence of cardiovascular diseases. The presence of a large geriatric population in the region also contributes to the growth of this market.

Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the interventional cardiology and peripheral vascular devices market, driven by the increasing healthcare expenditure, growing patient population, and rising demand for minimally invasive procedures. The increasing adoption of advanced healthcare technologies and the presence of a large number of key market players in the region also contribute to the growth of this market.

Latin America: Latin America is a growing market for interventional cardiology and peripheral vascular devices, driven by the increasing prevalence of cardiovascular diseases in the region and the growing demand for advanced medical devices. The improving healthcare infrastructure and the increasing healthcare expenditure in the region also contribute to the growth of this market.

Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth in the interventional cardiology and peripheral vascular devices market due to the increasing demand for minimally invasive procedures and the growing prevalence of cardiovascular diseases in the region. The increasing healthcare expenditure and the improving healthcare infrastructure in the region also contribute to the growth of this market.

Interventional Cardiology and Peripheral Vascular Devices Market Forecasts 2030 

The interventional cardiology and peripheral vascular devices market is expected to grow significantly in the coming years, with a CAGR of around 6.5% from 2021 to 2030. The market is expected to reach a value of approximately USD 31.8 billion by 2030.Factors driving the growth of the market include the increasing prevalence of cardiovascular diseases, the growing demand for minimally invasive procedures, and the increasing adoption of advanced medical devices. Technological advancements in interventional cardiology and peripheral vascular devices, such as the development of bioresorbable stents and drug-coated balloons, are also expected to drive market growth.North America is expected to continue to be the largest market for interventional cardiology and peripheral vascular devices, followed by Europe and the Asia-Pacific region. The Asia-Pacific region is expected to witness the fastest growth, driven by the increasing healthcare expenditure, growing patient population, and rising demand for minimally invasive procedures.The key players operating in the interventional cardiology and peripheral vascular devices market include Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Cardinal Health Inc., Becton, Dickinson and Company, Cook Medical Inc., Johnson & Johnson, B. Braun Melsungen AG, and C. R. Bard, Inc. These companies are focusing on product development and innovation, strategic partnerships, and mergers and acquisitions to expand their market presence and increase their revenue.

Interventional Cardiology and Peripheral Vascular Devices Market Key Industry Players

The interventional cardiology and peripheral vascular devices market is highly competitive, with several major players dominating the market. Some of the key industry players include:

Abbott Laboratories

Boston Scientific Corporation

Medtronic plc

Terumo Corporation

Cardinal Health Inc.

Becton, Dickinson and Company

Cook Medical Inc.

Johnson & Johnson

1. Braun Melsungen AG
2. R. Bard, Inc.

These companies offer a wide range of interventional cardiology and peripheral vascular devices, including stents, catheters, guidewires, balloons, and atherectomy devices, among others. They focus on developing innovative products and technologies to cater to the evolving needs of patients and healthcare providers. In addition, they also engage in strategic partnerships, collaborations, and mergers and acquisitions to expand their market share and increase their revenue.