Cardiac Catheterization Market: Increase in number of angiographic procedures to drive the market – BioSpace

Global Cardiac Catheterization Market: Overview

Cardiac catheterization can be defined as a procedure to test the functioning of the heart and is used to diagnose and treat cardiovascular conditions. During the process of cardiac catheterization, a catheter is inserted into the artery or vein, using which doctors perform diagnostic tests. Additionally, heart disease treatments such as coronary angioplasty can be performed using this process. The diagnostic tests usually performed using cardiac catheterization include biopsy, detection of congenital heart defects, right or left ventriculogram, angiogram, and hemodynamic assessment. The treatment procedures in which cardiac catheterization forms a part of the process include closure of holes in the heart, fixing congenital heart diseases, replacing heart valves, heart arrhythmia treatment, and angioplasty.

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Global Cardiac Catheterization Market: Drivers and Restraints

The global cardiac catheterization market is anticipated to record significant growth during the forecast period. This can be attributed to the rise in prevalence of cardiovascular diseases, increase in number of angiographic procedures, growing awareness among people, and favorable reimbursement scenario. Additionally, rise in prevalence of diabetes, increase in obesity among the population, and surge in demand for minimally invasive procedures fuel the growth of the market. Moreover, rise in number of cath labs globally drives the market. For instance, in India, the number of cath labs nearly doubled in the past five years to reach over 630 in 2015. Similarly, cardiac interventions in the country increased by 41% in 2015 as compared to 2014. According to the British Cardiac Society Guidelines, there has to be one diagnostic cardiac catheterization and angiography laboratory for a population of 450,000 to 600,000. France has the highest number of catheterization laboratories in Europe, accounting for 2.9 per 1 million people, as suggested by the British Cardiac Society Guidelines. However, the side effects associated with cardiac catheterization procedures and stringent regulatory environment for the approval of medical devices is likely hamper the growth of the market in the region.

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Global Cardiac Catheterization Market: Key Segments

The global cardiac catheterization market can be segmented based on product type, application, and region. Based on product type, the market can be categorized into angiographic balloon catheter, optical fiber scope, hexapolar balloon spacing, arterial embolectomy, and others. In terms of application, the global cardiac catheterization market can be classified into right heart catheterization, balloon angioplasty, coronary angiography, valve replacement, and others.

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Geographically, the global cardiac catheterization market can be segmented into five major regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America was the dominant market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. This is attributed to rise in prevalence of cardiac diseases and well-established health care infrastructure in the region. Europe was the next major market for cardiac catheterization. However, the market in the region is anticipated to witness sluggish growth owing to slow economic recovery. The cardiac catheterization market in Asia Pacific is anticipated to grow at a rapid pace owing to increase in patient population, rise in government focus on enhancing health care facilities, and surge in disposable income of the people. The market in the region is anticipated to be driven by India and China during the forecast period due to high prevalence of several cardiac disorders in these countries. Moreover, rapidly improving awareness levels and cumulative healthcare sector development in these countries would also contribute towards cardiac catheterization market growth in these nations.

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Global Cardiac Catheterization Market: Key Players

Leading players operating in the global cardiac catheterization market include Medtronic plc, Boston Scientific Corporation, Terumo Corporation, GE Healthcare, Smith & Nephew, Johnson & Johnson, Cook Medical, Edwards Life Sciences, Abbott, B. Braun, C. R. Bard, and Teleflex Incorporated.

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Cardiac Catheterization Market: Increase in number of angiographic procedures to drive the market - BioSpace