Interventional cardiology is a branch of cardiology that utilizes nonsurgical, catheter-based treatments for structural heart diseases. It utilizes devices such as catheters & sheaths, guidewires, balloons, stents, vascular closure devices, atherectomy devices, intravascular ultrasound (IVUS), and other devices to repair narrowed arteries, damaged or weakened blood vessels, heart valve disorders, and congenital heart diseases.
Rising prevalence of cardiovascular diseases & hypertension, a higher degree of unmet clinical needs, and rising affluence are creating ample opportunities for the interventional cardiology devices market in the APAC region. The growth of the interventional cardiology devices market in the APAC is likely to be driven by China and India. Considering the lucrative prospects of the interventional cardiology devices market in the APAC region, prominent companies have expanded their footprint in these regions.
â€¢ In March 2022, Boston Scientific expanded its footprint in India with its second R&D Center. The new R&D Center addresses the needs of the patients in India, APAC, and around the world. It also provides expertise to all of the companyâ€™s diverse therapy areas, namely interventional cardiology, peripheral interventions, cardiac rhythm management, endoscopy, neuromodulation, urology, and pelvic health.
â€¢ Abbott also intends to expand coverage and resources in training programs related to cardiovascular treatment in China. Abbott owns two training centers in China. The Abbott Medical Advanced Technology Center in Beijing provides doctors with first-class cardiological learning experiences and practice opportunities. The Crossroads-Abbott Academic Center in Shanghai provides interventional treatment training for physicians from different regions in China, making medical treatment and standardized treatment and care more accessible to patients in remote areas.
â€œChina is one of the most prominent markets for cardiovascular diseases. The demand from patients to be treated as well as doctors to get trained is humongous. This is why interventional cardiology device manufacturers are investing in China.” – Director, Leading Stent Manufacturer, United States
Growth Strategies Adopted by Market Players to Establish Their Foothold in Interventional Cardiology Devices Market
The global interventional cardiology devices market is marked by the presence of both established and emerging players. Players operating in this market have adopted both organic and inorganic growth strategies such as acquisitions, and new product launches to garner higher market share.
The interventional cardiology devices market is projected to grow in the upcoming years due to increasing cardiovascular cases, emerging growth opportunities in the APAC region, technological advancements in interventional cardiology devices, and favourable reimbursement in key markets.
Competitive Landscape Analysis: Interventional Cardiology Devices Market
The global market is marked by the presence of leading market players such as Medtronic, Boston Scientific, Abbott, Medinol, Biotronik, SMT, Terumo, Lepu Medical, Microport, among others.
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