(MENAFN- America News Hour) The Percutaneous Coronary Intervention Market is thriving on account of the rising awareness amongst individuals for the benefits of maintaining a good health and the increasing need for high quality healthcare services amongst individuals. With the increasing prevalence of diseases worldwide, people are opting for products that help them to stay fit and are also investing more on healthcare services. Alternatively, pharmaceutical manufacturers, along with other healthcare companies that manufactures devices and equipment, are increasingly focusing on the research and development of advanced treatment, drugs and equipment for the diagnosis and treatment of the diseases and for developing healthcare products. Organizations are raising their R & D expenses year-on-year so as to deliver quality healthcare products in the years to come. The advancements in the healthcare sector are also supported by the governments of nations worldwide with numerous financial aids.
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According to a statistical report titled ' Global Spending on Health: A World in Transition ', released in theyear 2019 by the World Health Organization (WHO), the global spending on healthcare recorded USD 7.8 trillion in 2017, which was an increase by USD 0.2 trillion from the recorded value of USD 7.6 trillion in 2016.
n 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Percutaneous Coronary Intervention Market over the period 2019-2026.
percutaneous coronary intervention (PCI) is a procedure used to treat the narrowing of coronary arteries. In this procedure, a catheter is used to place a small structure, i.e., a stent to open blood vessels in the heart that have been narrowed owing to plaque build-up. Factors such as the growing prevalence of cardiac diseases, the rising preference for minimally invasive procedures, and growing geriatric population are anticipated to propel the growth of the market over the forecast period.Factors such as the rising prevalence of heart diseases and increasing preference for minimally invasive procedures are expected to fuel the demand for percutaneous coronary intervention. The increasing geriatric population is also propelling the growth of the market. However, the risk of infection and stringent government regulations are the major challenges for the market.
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The global market for percutaneous coronary intervention has been segmented on the basis of product type, end user, and region. On the basis of product type, the market has been divided into coronary stents, PTCA catheters, and coronary guidewire and accessories. Coronary stents are further sub-segmented into drug-eluting stents, bare metal stents, and bioresorbable vascular scaffolds. PTCA catheters are further sub-segmented into balloon catheter and guiding catheter. By accessories, the product type segment is further categorized into inflation devices, torquer, RHV (Y-connector), control syringe, manifold, extension line, and others.
Based on end user, the market has been divided into hospitals and specialty clinics, ambulatory surgical centers, research and academic institutes, and others.The global percutaneous coronary intervention market accounted for USD 8,679.1 million in 2015 and is expected to register a CAGR of 7.10 % during the forecast period.
Key Players
Some of the key players for the global percutaneous coronary intervention market are Abbott, ASAHI INTECC Company Limited, B. Braun Melsungen AG, Biosensors International Group, Ltd., BIOTRONIK, Boston Scientific Corporation, C. R. Bard, Inc, Comed B.V., Cook, Cordis, Medtronic Plc, Meril Lifesciences Pvt. Ltd, Merit Medical System, Terumo Corporation, and others.
Study Objectives
• To provide a detailed analysis of the market structure along with the forecast of various segments and sub-segments of the global percutaneous coronary
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intervention market
• To provide insights into factors influencing and affecting market growth
• To provide historical, current, and forecast revenue of market segments based on product type and end user
• To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
• To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
• To provide economic factors, technology trends, and market trends that influence the global percutaneous coronary intervention market
Target Audience
• Global percutaneous coronary intervention solution providers, manufacturers, and suppliers
• Research and development (R & D) companies
• Market research and consulting service providers
• Academic institutes and universities
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Key Findings
• The global percutaneous coronary intervention market is expected to reach a value of USD 15,205.4 million by 2023 at a CAGR of 7.10%.
• On the basis of product type, the coronary stents segment is projected to be largest, registering a CAGR of 7.81% during the forecast period.
• By end user, the hospitals and clinics segment is expected to be the largest at USD 6,680.0 million by 2023.
• On the basis of region, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas market is expected to be the largest at an estimated value of USD 6,068.7 million by 2023.
• Asia-Pacific is projected to be the fastest-growing market at a CAGR of 8.14% from 2018 to 2023.
Regional Analysis
• Americas
o North America
US
Canada
o South America
• Europe
o Western Europe
Germany
France
UK
Italy
Spain
Rest of Europe
o Eastern Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
o Rest of Asia-Pacific
• Middle East & Africa
o Middle East
o Africa
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