NEW YORK--(BUSINESS WIRE)--Netscribes, Inc., a global market intelligence firm, released its Global Interventional Cardiology Market report today. According to Netscribes, the global interventional cardiology market will grow at an overall compound annual growth rate (CAGR) of 6.9% until 2022 and will be worth USD 21.88 billion by 2022.
Increasing incidences of cardiovascular diseases, growth in healthcare spending, and rising adoption of interventional cardiology procedures has led to the rise in demand for interventional cardiology across the world. However, the market is yet to achieve full potential due to challenges such as low accessibility in emerging economies, high incidences of post-procedural complexities, such as thrombosis, and weak spending on research and development in developing economies like India.
Despite the challenges, growth in the global interventional cardiology market is promising. Major players such as Medtronic PLC, Abbott Laboratories, and Boston Scientific Corporation are entering untapped markets outside the purview of the developed economies, while further expanding the business in their area of operations.
Key highlights from the report:
- In the global interventional cardiology market, Medtronic PLC has the highest market share followed by Abbott Laboratories. These two players occupy half of the total market share globally.
- North America has the highest share in the global interventional cardiology market, followed by Asia-Pacific.
- Increased adoption of the concept of ‘health promotion’ has led patients to opt for surgeries at a much earlier stages of their disease, which in turn has increased success rates of interventional cardiology procedures.
- The development of advanced minimally invasive procedures and is increased adoption in interventional cardiology is likely to drive the global market in the future.
For more information, download the Netscribes Global Interventional Cardiology Market Report.
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