Percutaneous Coronary Intervention Guidance Devices Market
Number of pages: 100 | Report Format: PDF | Published date: May 01, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 11.91 billion |
|
Revenue Forecast in 2031 |
US$ 20.82 billion |
|
CAGR |
6.4% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global percutaneous coronary intervention guidance devices market was valued at US$ 11.91 billion in 2022 and is expected to register a revenue CAGR of 6.4% to reach US$ 20.82 billion in 2031.
Percutaneous Coronary Intervention Guidance Devices Market Fundamentals
Percutaneous coronary intervention (PCI) guidance devices are medical instruments used during percutaneous coronary intervention, a procedure used to treat coronary artery disease. These devices are used to guide the placement of stents and balloons in the narrowed or blocked coronary arteries, which helps to improve blood flow to the heart muscle. Percutaneous coronary intervention guidance devices have greatly improved the safety and efficacy of this procedure, reduced the risk of complications, and improved patient outcomes. These guidance devices can include imaging tools such as angiography, intravascular ultrasound (IVUS), and optical coherence tomography (OCT). These devices allow the cardiologist to see inside the coronary arteries and guide the catheter to the blockage. Other guidance devices include pressure wires that measure the pressure inside the artery and guide the cardiologist to the narrowest point in the artery and microcatheters that can access smaller blood vessels within the heart. Successful surgeries made possible by novel and inventive percutaneous coronary intervention guidance devices greatly improved patient outcomes. These devices have made it possible for medical professionals to carry out intricate treatments more accurately and precisely, lowering the possibility of problems and speeding up patient recovery. Patients benefit from a quicker return to normal activities and improved general health outcomes. The percutaneous coronary intervention guidance devices market trends are supported by the benefits of advanced robotic-assisted percutaneous coronary intervention, such as improved precision, reduced radiation exposure for clinicians, and shorter procedure times, ultimately leading to better patient outcomes. Additionally, advancements in robotic technology and increasing investment in healthcare infrastructure are also contributing to the growth of this market.
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Percutaneous Coronary Intervention Guidance Devices Market Dynamics
An increase in cardiovascular disease prevalence is driving up demand for percutaneous coronary intervention guidance devices, which need guidance devices to be accurate and efficient. Cardiovascular disorders, including coronary artery disease and heart attacks, are becoming more common as the population ages and poor lifestyle choices emerge. In turn, this is increasing demand for percutaneous coronary intervention procedures. Percutaneous coronary intervention guidance devices give doctors real-time information that improves patient outcomes during surgical procedures. According to the American Heart Association, cardiovascular disease is a significant global health issue and the number one killer in many nations, including the United States. In 2020, cardiovascular diseases were responsible for almost one in three fatalities nationwide.
Compared to traditional surgeries, minimally invasive techniques are preferred because they cause less patient trauma and hasten recovery. Percutaneous coronary intervention guiding devices make it easier to carry out these processes precisely and accurately. The percutaneous coronary intervention guiding devices demand has increased due to increased knowledge of minimally invasive treatments in patients and healthcare professionals. These technologies have reduced costs, sped up recovery, and lessened difficulties. The percutaneous coronary intervention guiding devices market growth is driven by the increase in demand for minimally invasive procedures in cardiovascular health. The efficacy of percutaneous coronary intervention guiding systems to lower the risk of problems and enhance patient outcomes has led to their rising popularity.
More advanced and efficient percutaneous coronary intervention guidance devices have been created due to technological breakthroughs. These technologies increase the success and safety of percutaneous coronary intervention treatments by precisely guiding catheters and stents to the target location in coronary arteries using cutting-edge imaging techniques and navigation systems. The introduction of hybrid closure devices to lower vascular complications and increase procedural efficiency, the development of bio resorbable scaffolds (BRS) to reduce restenosis, and the integration of artificial intelligence and machine learning to enhance image analysis and diagnosis accuracy are the technological advancements that are most likely to speed up market growth. The market for percutaneous coronary intervention guidance devices is also anticipated to increase due to the advancement of fractional flow reserve (FFR) wire & sensor technology and the incorporation of wearable technologies to monitor patients and enhance post-procedural care.
However, advanced guidance devices are not widely available in all geographic regions, limiting their use and adoption. Using fluoroscopy during percutaneous coronary intervention procedures can lead to increased radiation exposure for patients and healthcare providers, leading to long-term health consequences. Using percutaneous sheath introducers and other devices during percutaneous coronary intervention procedures can increase the risk of infection, which can be a serious complication for patients.
Percutaneous Coronary Intervention Guidance Devices Market Ecosystem
This report provides the global percutaneous coronary intervention guidance devices market analysis regarding revenue, market growth, market dynamics, regional landscape, and overall competitive positioning of the major market players. The global percutaneous coronary intervention guidance devices market overview is analyzed from the following perspectives: product, application, end user, and region.
Percutaneous Coronary Intervention Guidance Devices Market by Product
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Based on the products, the global percutaneous coronary intervention guidance devices market is segmented into percutaneous sheath introducers, guide catheters, guidewires, and others.
Guide catheters accounted for the largest revenue share of the global percutaneous coronary intervention guidance devices market in 2022. The most used percutaneous coronary intervention guidance device is the guide catheter. They are used to make it easier to insert other interventional devices into the coronary arteries, like balloons and stents. Guide catheters are available in various diameters and forms to accommodate diverse anatomical variances of the coronary arteries. Guide catheters are easier to utilize than other guidance technologies like intravascular ultrasound (IVUS) or optical coherence tomography (OCT). Most interventional cardiologists are familiar with them, and using them properly only requires a little training. Moreover, guide catheters are a cost-effective alternative for many medical facilities because they are more affordable than other guidance devices.
Due to their function in easing catheterization, cutting down on procedure time, and managing access site issues, percutaneous sheath introducers have a significant accounted for a significant revenue share of the global percutaneous coronary intervention guidance devices market size. Sheath introducers are employed to get into the arterial system and construct a conduit for the catheter to access the coronary arteries. They treat issues at the access site, such as bleeding, hematomas, and pseudoaneurysm. Sheath introducers are also made to save process times by facilitating quick catheter swaps and simple device distribution. As a result, less radiation and contrast material may be used throughout the process. By creating a path for the catheter to follow to get to the coronary arteries, sheath introducers make catheterization easier. This makes it possible to treat blockages by delivering balloons and stents.
Percutaneous Coronary Intervention Guidance Devices Market by Application
Based on the applications, the global percutaneous coronary intervention guidance devices market is segmented into myocardial infraction, acute coronary syndrome, and others.
The acute coronary syndrome segment accounted for the largest revenue share of the global percutaneous coronary intervention guidance devices market in 2022. Cardiovascular disease is the leading cause of mortality worldwide, and acute coronary syndrome significantly contributes to this condition. The demand for percutaneous coronary intervention methods and guidance devices rises along with the incidence of acute coronary syndrome. The acute coronary syndrome is a serious medical issue that needs prompt attention. Percutaneous coronary intervention treatments are essential to managing acute coronary syndrome because they are frequently used as the primary therapy option. Complex lesions in the coronary arteries, which call for advanced guidance systems, are frequently involved. The percutaneous coronary intervention guidance devices market is seeing increased revenue because these devices are more expensive than conventional guide catheters for treating the acute coronary syndrome. The cost of the guiding devices employed during percutaneous coronary intervention treatments is high. As a result, sales of percutaneous coronary intervention guidance devices are increasing, thus boosting market growth.
Percutaneous Coronary Intervention Guidance Devices Market by End User
Based on the end users, the global percutaneous coronary intervention guidance devices market is segmented into hospitals, pediatric & neonatal intensive care units, and others.
The hospitals accounted for a significant revenue share of the global percutaneous coronary intervention guidance devices market in 2022. Percutaneous coronary intervention procedures, which are necessary for guiding devices, are often performed in hospitals. As a result, there is a high demand for these devices, increasing market revenue. Hospitals frequently have access to the latest technologies and resources, such as sophisticated imaging equipment. The market for PCI guidance devices is seeing increased revenue because these devices are more advanced than conventional guide catheters. The expense of the guidance devices used in PCI procedures can be somewhat offset by the more favorable reimbursement rules that insurance companies and government programs are more inclined to offer hospitals.
Percutaneous Coronary Intervention Guidance Devices Market by Region
Based on the region, the global percutaneous coronary intervention guidance devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global percutaneous coronary intervention guidance devices market in 2022. Due to several driving factors, such as the aging population, which is more susceptible to heart disease, the rising incidence of cardiac illnesses, and the rising demand for minimally invasive therapies in North America, the region is expected to hold the largest market share during the forecasted period. Additionally, the development of the cardiac ablation market in North America is being aided by the availability of a well-established healthcare infrastructure and benevolent reimbursement policies. Additionally, it is anticipated that technological developments in cardiac ablation devices will further accelerate market growth in the area.
Percutaneous Coronary Intervention Guidance Devices Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the percutaneous coronary intervention guidance devices market outlook. Notable market participants account for the largest revenue share of the global percutaneous coronary intervention guidance devices market include,
Percutaneous Coronary Intervention Guidance Devices Market Strategic Developments
Percutaneous coronary intervention (PCI) guidance devices are medical instruments used during percutaneous coronary intervention, a procedure used to treat coronary artery disease.
Guide catheters account for the largest revenue share of the global percutaneous coronary intervention guidance devices market.
Increasing cardiovascular diseases and technological advancement are the major factors to drive the growth of the global percutaneous coronary intervention guidance devices market.
Key companies operating the global percutaneous coronary intervention guidance devices market are Abbott, Boston Scientific Corporation, Inc., Terumo Corporation, Biosensors International Group, Ltd., and B.Braun SE.
The global percutaneous coronary intervention guidance devices market is expected to grow at a revenue CAGR of 6.4% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain