Over the past three decades, the global incidence of cardiovascular disease, encompassing conditions like heart disease and stroke, has witnessed a continual rise, leading to an alarming surge in deaths and disabilities worldwide. In 2019 alone, cardiovascular disease accounted for a staggering one-third of global fatalities, according to the World Health Organization (WHO). The grim statistics revealed that nearly 17.9 million individuals succumbed to cardiovascular diseases, contributing to 32% of the total global deaths. The overwhelming majority of these fatalities, amounting to 85%, resulted from heart attacks and strokes.
Several behavioral risk factors contribute significantly to the prevalence of heart disease and stroke, shaping a distressing health landscape. Unhealthy dietary choices, lack of physical activity, smoking, and problematic alcohol consumption stand out as the primary culprits in fostering these life-threatening conditions. The repercussions of such behaviors manifest in elevated blood pressure, increased blood glucose levels, heightened blood lipids, and the onset of overweight or obesity. These intermediate risk factors, identifiable in primary care settings, serve as critical indicators pointing towards an augmented risk of severe cardiovascular events, including heart attacks, strokes, and heart failure.
In tandem with the escalating health crisis, the number of individuals undergoing surgical interventions for heart-related ailments is on the rise. This surge in cardiac surgeries further underscores the growing prevalence of heart diseases on a global scale. Consequently, the market for percutaneous coronary intervention (PCI), a crucial medical procedure addressing coronary artery diseases, is poised for positive growth. As the incidence of cardiovascular diseases continues to escalate, the demand for PCI procedures is expected to rise, reflecting the urgent need for effective interventions to mitigate the impact of heart-related conditions.
The growing number of individuals undergoing cardiac surgeries highlights the imperative for advancements in medical procedures, such as percutaneous coronary intervention, to address the escalating burden of heart diseases and strive for improved cardiovascular health on a global scale.
Report Attribute/Metric | Details |
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Market Opportunities | Favorable Reimbursement Scenario |
Market Dynamics | Rising Prevalence Of Heart Diseases |
The Percutaneous Coronary Intervention Market size was valued at USD 8.78 Billion in 2023 and is projected to grow from USD 9.55 Billion in 2024 to USD 20.53 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.03% during the forecast period (2024 - 2032).
“The percutaneous coronary intervention market is set for robust growth driven by technological advancements, increasing prevalence of cardiovascular diseases, and a rising aging population. With a focus on minimally invasive procedures and innovative stent technologies, the market is poised to witness sustained expansion, offering improved patient outcomes, and contributing to the evolution of interventional cardiology.”
The expected growth in the market can be attributed to the rising prevalence of heart diseases and increasing preference for minimally invasive procedures.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Over the last 30 years, the number of death and disabilities caused by cardiovascular disease has continuously increased around the world. The disorder, which includes heart disease and stroke, was responsible for one-third of the deaths across the globe in 2019. For instance, in 2019, the World Health Organiation estimated that nearly 17.9 million individuals died from cardiovascular diseases, accounting for 32% of all global fatalities. Heart attacks and strokes were responsible for 85% of these fatalities. Unhealthy food, physical inactivity, cigarette use, and problematic alcohol consumption are the most major behavioural risk factors for heart disease and stroke. Individuals may experience elevated blood pressure, elevated blood glucose, elevated blood lipids, and overweight or obesity because of behavioural risk factors. These "intermediate risks factors" may be assessed in primary care settings and suggest an elevated risk of heart attack, stroke, heart failure, and other consequences. The individuals that undergo surgery due to heart diseases are also growing. Therefore, due to the rising prevalence of heart diseases the market for global percutaneous coronary intervention will grow at a positive pace.
The Percutaneous Coronary Intervention Market segmentation, based on product type, includes coronary stents, ballon catheters, coronary guidewires, guiding catheters, guiding sheaths, diagnostic catheters, crossing catheters, inflation device, guidance system, peripheral thrombectomy system, embolic protection system, and accessories. The coronary stents segment held the majority share in the market in 2022. Moreover, the launch of the newest generation of drug-eluting catheter stents to fulfill the demand of physicians is fueling the growth of the product type segment.
The Percutaneous Coronary Intervention Market segmentation, based on vascular access, includes radial and femoral. The radial segment dominated the market in 2022. Radial PCI is a safe and effective procedure that can be used to treat a variety of coronary artery diseases. It is the preferred approach to PCI for most patients because it offers several advantages over femoral PCI. Moreover, radial PCI is becoming increasingly popular due to advantages such as reducing the risk of stroke during the procedure and shortening the duration of the hospital stay.
Figure 2: Percutaneous Coronary Intervention Market, by Vascular Access, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Percutaneous Coronary Intervention Market segmentation, based on end user, includes hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment dominated the market in 2022. This is due to factors such as the increasing number of angioplasties, rising incidences of diabetes & obesity patients may lead to coronary artery diseases.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. The North America percutaneous coronary intervention market accounted for the largest market share in 2022. North America is further divided into the US and Canada. North America held the largest market share due to the increase in demand for minimally invasive procedures, increasing prevalence of cardiovascular diseases, and unhealthy lifestyle habits propelling regional market growth over the forecast period. For instance, In the United States, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups. Cardiovascular disease claims one life every 33 seconds in the US. In 2021, approximately 695,000 people in the United States died from heart disease, accounting for one in every five deaths.
Further, the major countries will be study are US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PERCUTANEOUS CORONARY INTERVENTION MARKET BY REGION 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe percutaneous coronary intervention market accounted for the second-largest market share due to unhealthy lifestyle habits, increasing geriatric population, and extensive R&D activities. Furthermore, the Germany percutaneous coronary intervention market is attributed to hold the largest market share, and the France percutaneous coronary intervention market is projected be the fastest growing market in the Europe region.
The Asia-Pacific percutaneous coronary intervention market is expected to be the fastest growing from 2023 to 2032 due to rising income levels, an increase in the prevalence of cardiovascular diseases, and better healthcare infrastructure. Moreover, China percutaneous coronary intervention market accounted to hold the largest market share, and the India percutaneous coronary intervention market is projected to be the fastest growing market in the Asia-Pacific region.
Percutaneous Coronary Intervention Key Market Players & Competitive Insights
The Percutaneous Coronary Intervention Market is distinguished by the presence of many global, regional, and local players. The rising prevalence of heart diseases and increasing preference for minimally invasive procedures are further expected to drive the growth of the Percutaneous Coronary Intervention Market during the forecast period. However, the risk of infection and complications during cardiac catheterization may hamper the growth of the Percutaneous Coronary Intervention Market. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their devices and signing contracts and agreements to broaden their reach and reduce operational costs. For instance, in April 2022, Boston Scientific Corporation (US) launched the Kinetix Guidewire for percutaneous coronary intervention (PCI) procedures. Guidewires are tiny, flexible wires that surgeons use to administer interventional devices like drug-eluting stents.
Boston Scientific Corporation is a well-established medical device company that is involved in the development, manufacture, and marketing of medical devices used in various interventional medical specialties. The company cooperates with healthcare professionals to create a broad portfolio of significant innovations that increase outcomes, reduce costs, and increase efficiencies. Its product portfolio is divided into interventional cardiology, endoscopy, neuromodulation, peripheral interventions, rhythm management, and urology & pelvic health. Boston Scientific Corporation's manufacturing facilities are positioned across Malaysia, the US, and Ireland. The company distributes its products in 130 countries across the world. Apart from this, it has a presence in Japan, the Netherlands, France, Poland, India, China, Turkey, South Africa, and Singapore, among others.
Moreover, In April 2022, Boston Scientific Corporation launched the Kinetix Guidewire for percutaneous coronary intervention (PCI) procedures. Guidewires are tiny, flexible wires that surgeons use to administer interventional devices like drug-eluting stents.
Key Companies in the Percutaneous Coronary Intervention market includes.
Percutaneous Coronary Intervention Industry Developments
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