The burden of cardiovascular diseases is increasing at a significant rate, owing to an increase in the number of people suffering from diabetes and the adoption of unhealthy lifestyles. Moreover, an increasing number of heart surgeries being performed across the world is a major factor propelling the growth of the global angiography catheters market.
With increasing prevalence of cardiovascular disease, introduction to various new technologies and the growing adoption of advanced technology, including angiography catheterization, have driven the field of cardiology.
Additionally, using an angiography catheter, a physician can conduct combined treatment and diagnosis in a single procedure. Some heart disease treatments, such as coronary stenting and coronary angioplasty, are also done using the catheterization procedure.
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- Cordis, a Cardinal Health company
- Boston Scientific Corporation
- Cook Medical
- Merit Medical Systems, Inc.
- Cook Medical
- Terumo Interventional Systems
- Abbott Laboratories
- Alvimedica Medical Device
Angiography Catheters Market Trends
Increasing Prevalence of Chronic Diseases Requiring Catheterization: With the rising prevalence of chronic disorders such as endocrine, cardiovascular, nephron, and urological disorders, the need for hospitalization is also rising.
Patients suffering from such chronic disorders require some degree of catheterization to remove arterial blockages, which is fuelling the growth of the angiography catheters market.
Besides, expanding geriatric population and rise in the occurrence of vascular syndrome due to obesity, hypertension, and sedentary lifestyle are also aiding the growth of the angiography catheters market. For example, according to the WHO, approximately 524 million people were aged 65 years and older in 2010, and this number is expected to reach 1.5 billion by 2050.
New Product Development & Launches: Numerous emerging factors are influencing the delivery of healthcare in the U.S. and EU5, which helps in the reduction of practical challenges faced by surgeons daily.
The emergence of several novel anticoagulation modalities; increasing variety of post-operative procedures with a simultaneous increase in the population; and the need for cost containment, particularly in rapidly growing healthcare procedures, are expected to drive the healthcare market, which further increases the use of surgical hemostats, internal tissue sealants, and adhesion barriers.
These factors are resulting in the development of new surgical techniques that are capable of facilitating improved performance and efficiency of operative procedures. For instance, in 2019, Medtronic launched a telescope guide extension catheter to support complex coronary cases.
Such new product developments with new formulations for various applications is expected to help improve patient care and boost the angiography catheters market size.
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Regional Outlook of Angiography Catheters Market
North America currently holds more than 33% of the global angiography catheters market share. The high prevalence of chronic disease such as endocrine and cardiovascular diseases is increasing the demand for angiography catheters in the region.
However, the market in East Asia and South Asia will experience significant growth over the forecast period of 2020 to 2030, owing to factors such as increasing burden of heart diseases and a large population base. Improving healthcare facilities, increased R&D investments, and government initiatives are expected to further support the growth of the angiography catheters market in these regions.
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COVID-19 Crisis Impact on Angiography Catheters Market
The global outbreak of Covid-19 has led to shutdowns and various restrictions in the first half of 2020. All industries have been facing large-scale disruptions, which is ultimately having an unusual impact on the angiography catheters market.
The pandemic has created a short-term decline in the manufacturing and sales of angiography catheters, all due to factors such as travel restrictions, labor shortage, and raw material supply disruptions.
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An extensive analysis of the angiography catheters market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, coronary catheters is the target segment for major players, which is why this segment dominates the global angiography catheters market by product in term of growth. Europe and North America collectively hold more than 60% revenue share due to the high adoption of angiography catheters in these regions. Emerging countries such as Brazil, China, and India are expected to offer lucrative opportunities for the growth of the angiography catheters market, owing to increasing awareness and initiatives by local government for research & development related to angiography catheters.
Key Segments of Angiography Catheters Market
PMR’s study on the angiography catheters market offers information divided into four important segments— product, application, end user, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Key Questions Answered in PMR’s Angiography Catheters Market Report
- Which regions will continue to remain the most profitable regional markets for angiography catheters market players?
- Which factors will induce a change in the demand for angiography catheters during the assessment period?
- How will changing trends impact the angiography catheters market?
- How can market players capture the low-hanging opportunities in the angiography catheters market in developed regions?
- What are the winning strategies of stakeholders in the angiography catheters market to upscale their position in this landscape?
- What are the restraints that investors need to be aware of and might tackle while investing in the angiography catheters market?
- What are the developmental trends that will impact the market?
- How can businesses in the angiography catheters market avail the growth opportunities in developed and emerging sectors?