Interventional Cardiology & Peripheral Vascular Devices Market is expected to depict strong growth through 2032, owing to the increasing technological innovations in peripheral vascular devices. Technological advances such as drug-eluting stents, nanotechnology, drug-coated balloons, and several other breakthroughs are anticipated to increase the procedure outcome and success rate.
Strategic M&A and innovative product launches are key efforts undertaken by conglomerates to expand their presence and business operations across the global market. For instance, in February 2023, Abbott acquired the medical device company Cardiovascular Systems (CSI) in a deal worth around USD 890 million. With this acquisition, CSI will add complementary technologies to Abbott’s primary vascular device offerings.
Overall, the interventional cardiology and peripheral vascular devices industry is segmented in terms of product, application, end-use and region.
Based on the product, the interventional catheters product segment will witness significant growth through 2032. The increasing demand for minimally invasive procedures for cardiac disorders would contribute to the segmental growth. Moreover, advantages such as reduced hemostasis and vascular complications will further favor the segmental expansion in the coming years.
By application, the coronary thrombectomy segment will depict strong growth through 2032. Coronary thrombectomy is a catheter-based, minimally invasive procedure to remove blood clots.
IC & PVC devices are crucial in this application for lowering the risk of excessive bleeding and improving patient survival rates.
Considering the end-use, the hospitals segment is estimated to reach over USD 19 billion between 2023-2032. Increasing adoption of cardiac procedures in hospitals due to their significant performance in hospital settings will stimulate the demand for IC and PVD devices. In addition, new product launches in the cardiac ablation industry will also spur the product adoption in hospitals, thereby boosting the product demand.
From a regional perspective, the Asia Pacific interventional cardiology and peripheral vascular devices market is expected to depict over 8% CAGR through 2032. The increasing prevalence of cardiovascular diseases will positively favor the regional market outlook. Furthermore, the presence of leading players as well as local manufacturers who are constantly investing heavily in the healthcare segment to improve healthcare facilities will foster the market growth in the region.