Percutaneous Coronary Intervention Market Analysis
The global percutaneous coronary intervention market is predicted to touch USD 15,205.4 million at a 7.1% CAGR over the forecast period (2017-2023), in accordance with the latest Market Research Future (MRFR) report. Formerly referred as angioplasty with stent, percutaneous coronary intervention or PCI is a non-surgical technique which utilizes a catheter (thin flexible tube) for placing a small structure known as a stent for opening up blood vessels in the heart which has been narrowed due to buildup of plaque, a condition referred to as atherosclerosis.
Percutaneous coronary intervention helps in improving blood flow, thereby reducing angina (chest pain that is heart-related), making a patient feel better along with increasing their ability to be active. Generally, this procedure is scheduled much ahead of time. PCI can also be used for alleviating congestive heart failure, preventing heart attacks, and above all allowing some patients in avoiding surgical treatment (CABG- coronary artery bypass graft) which includes extensive surgery followed by long rehabilitation time often.
Various factors are propelling the percutaneous coronary intervention market growth. These factors, as stated by the latest MRFR report, include rising incidences of various cardiac diseases, growing preference for procedures that are minimally invasive, and growing geriatric population who are more susceptible to cardiac diseases.
On the contrary, strict government regulations and risk of infection are factors that may hamper the percutaneous coronary intervention market growth over the forecast period.
Percutaneous Coronary Intervention Market Segmentation
The MRFR report provides a complete segmental analysis of the complex Percutaneous Coronary Intervention Market report based on end user as well as product type.
Based on product type, the percutaneous coronary intervention market is segmented into accessories, coronary guidewire, PTCA catheters, and coronary stents. Of these, the coronary stents segment will have the largest share in the market over the forecast period. This is chiefly due to the introduction of new products in this market.
Based on end user, the percutaneous coronary intervention market is segmented into research & academic institutes, ambulatory surgical centers, hospitals and specialty clinics, and others. Of these, the hospitals and specialty clinics segment will dominate the market over the forecast period. This is due to the higher availability of experts required for performing the procedure coupled with a higher footfall of patients in hospitals.
Percutaneous Coronary Intervention Market Regional Analysis
By region, the percutaneous coronary intervention market report covers the latest trends and growth opportunities across Europe, the Asia Pacific (APAC), the Americas, and the Middle East and Africa (MEA). Of these, the Americas is expected to dominate the market during the forecast period due to the increasing acceptability of percutaneous coronary intervention methods and growing awareness.
Europe is projected to have the second-largest share in the market during the forecast period. This is owing to the growing number of hospitalizations for percutaneous coronary intervention methods such as cerebral angioplasty and carotid artery angioplasty.
The percutaneous coronary intervention market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to developing healthcare infrastructure and the growing prevalence of cardiovascular ailments. Moreover, increasing disposable income is further adding to the growth of the market in this region.
In the MEA, the percutaneous coronary intervention market is predicted to have a steady growth over the forecast period. The UAE, Kuwait, and Saudi Arabia are the key contributors in this region owing to the increasing incidences of percutaneous coronary intervention.
Percutaneous Coronary Intervention Market Key Players
Leading players profiled in the percutaneous coronary intervention market report include Terumo Corporation (Japan), Merit Medical System (Utah), Meril Lifesciences Pvt. Ltd (India), Medtronic PLC (US), Cordis (US), Cook (US), Comed BV (Netherlands), C. R. Bard, Inc. (US), Boston Scientific Corporation (US), BIOTRONIK (US), Biosensors International Group, Ltd (Singapore), B. Braun Melsungen AG (UK), ASAHI INTECC Company Limited (Japan), and Abbott (US), among others. Key players are adopting different strategies to create a niche in the market, such as research and development, joint ventures, mergers and acquisitions, partnerships, product innovations and launches, collaborations, and more.
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