Some of the eminent
names such as Medtronic, Abbott Vascular, and Boston Scientific were
the leading manufacturers of interventional cardiology devices in the
year 2014, collectively garnering market share of about 66.9% of the
total market in value. Apart from this majority of shares, the
remaining competitive landscape is evenly spread out across the world
in medium and small sized market players.
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As per a market
research report by Transparency Market Research, the world market for
interventional cardiology devices is considered to be extremely
dynamic and accounts for large opportunity for consolidation. The
competition between these market players is severe and is most likely
to increase over due course of time owing to the apparent launch and
implementation of innovative devices of interventional cardiology.
However, on the
other hand, the existing threat of new market aspirants is
anticipated to stay moderate over the forthcoming years. Various
regulatory frameworks are becoming increasingly strict and expenses
pertaining to research and development are becoming a strong segment
in the market. This is expected to avert the entry of medium and
small sized market players into the said market for some time.
The world market for
interventional cardiology devices is anticipated to progress at a
steady growth rate of 2.9% throughout the period of forecast that
extends from the year 2014 to 2022, when it comes to revenue. This
market revenue was estimated to reach US$ 9.36 bn by the end of the
year 2016 and a market value of US$11.16 bn by the end of the year
2022.
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Overview @
https://globenewswire.com/news-release/2018/02/06/1333563/0/en/Interventional-Cardiology-Devices-Market-is-projected-at-a-CAGR-of-2-9-by-2022-globally-Transparency-Market-Research.html
A sizeable segment
of the interventional cardiology devices production and requirement
is taken up by the region of Europe and North America. The region of
North America is anticipated to continue to be the dominant one till
the year 2022 and is further expected to reach market revenue of
around US$ 4.04 bn by that time. Both the regions of Europe and North
America exhibit a high rate of consumption of premium quality and
highly priced interventional cardiology devices and the same regions
can cater to a high rate of innovation in medical devices, thus
resulting in their market dominance.
Taking cue from the
data of World Health Organization, TMR Analyst states that around
23.3 mn casualties are anticipated to take place by the year 2030
owing to cardiovascular diseases. Furthermore around 80% of these
casualties are expected to occur in the underdeveloped countries.
This is an alarming call to the manufacturers of medical devices and
that includes makers of interventional cardiology devices.
Furthermore,
increased number of patients is directly linked to two significant
factors: the expanding base of the elderly population and the
increasing problem of obesity which ahs turned into an epidemic in
various developed nations.
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