Market Highlights
The Asia Pacific Interventional Cardiology Market Overview And Analysis, By Types ,End Users -Forecast Till 2032
Interventional cardiology is the branch of cardiology which was develop by Andreas Gruentzig. This technique involves the use of catheter and stents for the treatment of heart diseases. According to World Health Organization (WHO), Asia Pacific has the largest number of population suffering from cardiovascular diseases owing to huge diabetic and obese population. The major driving factors for the growth of the market are increasing prevalence diabetes, heart attack and obesity. Changing lifestyle, lack of exercise and rapid development in medical devices had also contributed in growth of the market. Whereas on other hand, high cost of manufacturing devices and strict regulatory rules for development of catheter and stents had hamper the growth of the market. Asia Pacific interventional cardiology market is expected to grow at a CAGR of 8 % during forecasted period 2023-2032.
Segmentation:
Asia Pacific interventional cardiology market size is segmented on the basis of type, into catheters, stents, balloons, vascular closure devices, laser procedures, atherectomy and other. Stents are sub segmented into metal stents, drug eluting stents and bioresorbable stents. Balloons are further segmented into cutting balloons, drug eluting balloons and other. On the basis of end users the market is segmented into catheterization laboratories, hospitals and clinics and others
Competitive Analysis
The major key player for the Asia Pacific Interventional Cardiology Market size are Abbott Laboratories Inc. (U.S.), B. Braun Melsungen AG (Germany), C.R. Bard, Inc. (U.S.), Abiomed Inc. (U.S), Edwards Lifesciences (U.S.), Biosensors International Group, Ltd. ( Singapore), Boston Scientific Corporation (U.S.), Medtronic PLC (Ireland), Angiodynamics, Inc. ( U.S), Terumo Medical Corporation (Japan), Johnson Johnson Services, Inc. (U.S.)., Lombard Medical Technologies, Plc. (U.K), Clearstream Technologies Group Plc. (Ireland).
Due to increasing prevalence of diseases like diabetes and cardiovascular diseases in the Asia Pacific region and increasing demand for the better treatment has attracted many of the major and medium sized company to introduce the better for the treatment. Many companies are focusing on development of the new drugs and method so as to withstand the competition and increase the market. Some major has adopted strategies of acquisitions and strategic alliances for the growth of the market.
Boston Scientific Corporation is a global manufacturer and developer of medical devices headquartered in Massachusetts, US. WATCHMAN, SYNERGY, Lotus are some of the major products of the company. In 2014, company has launched Promus PREMIER Everolimus-eluting Platinum Chromium Coronary Stent System in Asia Pacific region. Sales in the cardiovascular business, rose 13.5 percent to $825 million in the first quarter of 2016.
Abbott Laboratories is one of the leading healthcare company headquartered in Chicago, US. In June 2016, FDA has approved the Absorb bioresorbable Stent for heart. This stents is completely dissolve in the body and used in the treatment of heart complications. Company’s Esprit bioresorbable vascular scaffold is under clinical trials.
Medtronic is a medical device manufacturer headquartered in Dublin, Ireland. It is the world's largest standalone medical technology development company. In 2015 company has develop Stent Graft System System for Endovascular Repair of Thoracoabdominal Aortic Aneurysms. Earlier company’s Resolute® Drug-Eluting Stent has shown a very good performance in Diabetic Patients with Heart Disease. Medtronic market was increased by 7% in 2016 compared to 2015.
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