The Global Percutaneous Coronary Intervention Market has been evaluated as a growing market and is expected to witness high growth in coming years. Partnership with large hospitals is an attractive strategy for being a market leader as it leads to greater exposure and cost reduction. The drug-eluting stents (DES) is the largest of the stent segment, while the bioresorbable stent is the latest that technology has to offer and the fastest growing segment. Thus another strategy to dominate the market is product development especially technological advancement. Among the surgery segment the percutaneous coronary intervention (PCI) is the largest growing segment.
The development of advanced stents combined with their falling cost is the most critical driver of the market for percutaneous coronary intervention (PCI). The strongest market constraint is the low number of heart specialty hospitals and the scarcity of heart surgeons.
Percutaneous Coronary Intervention (PCI) is a non-surgical procedure used to treat narrowing of the coronary arteries of the heart by placing a stent in the contracting artery. PCI uses imaging techniques to guide the stent to the exact location. Percutaneous Coronary Intervention (PCI) is a non-surgical procedure used to treat narrowing of the coronary arteries of the heart by placing a stent in the contracting artery. PCI uses imaging techniques to guide the stent to the exact location.
The market for PCI is increasing due to rise in risk factors associated with heart diseases such as obesity, smoking and substance abuse, fatty foods etc. The life threatening nature of coronary heart diseases, greater reimbursement to heart diseases, the growth of specialty hospitals etc. are driving the market for PCI. The most critical technological growth factor however is the development of advanced stents such as drug-eluting stents (DES), bare metal stents, bioresorbable stents and the falling cost of these stents.
The regulatory changes in the U.S. is affecting the PCI market positively. For example, the FDI changed the class of standard balloon-tipped angioplasty catheters from Class III medical devices to Class II devices with special controls. Thus companies can now avoid pre-market approval (PMA) process to bring their device to the market. Thus companies will achieve faster clearance for their devices with added advantage of less cost.
The market constraints are the high cost of the procedure, coupled with the risks involved, the low availability of cardiac surgeons, low number of cardiac hospitals etc. Considering all these factors the market for percutaneous coronary intervention is expected to reach $ 15,769 million by the end of 2023, this market is projected to growing at a CAGR of ~10.8% during 2017-2023.
Global Percutaneous Coronary Intervention Market – Key Players
Key players profiled in the report are Abbott Vascular, Svelte Medical, Medtronic Plc., Boston Scientific, Sysmetis, Cardiac Dimensions, Acrostak, Edwards Lifesciences and others.
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Global Percutaneous Coronary Intervention Market – SWOT Analysis
Strength:
- Growing research and development.
- High product development especially technological advanced products
Weakness:
- High cost of treatment.
- Risk of complications and infections.
Opportunities:
- Growing income
- Low elasticity of demand
- Rise of heart speciality hospital
Threats:
- Growing awareness against fast and fatty food
Global Percutaneous Coronary Intervention Market – Segmentation
The Global percutaneous coronary intervention market is segmented on the basis of stents. Based on the stents, the market has been segmented as drug-eluting stents (DES), bare metal stents and bioresorbable stents. The surgery type segment is further sub segmented into percutaneous coronary intervention (PCI), transcatheter aortic valve implantation (TAVI/TAVR), trans-mitral valve implantation (TMVR). Similarly the cosmetic implants segment is sub segmented into breast augmentation, buttock implants, chin & cheek implants.
Global Percutaneous Coronary Intervention Market – Intended Audience
- Global Percutaneous coronary intervention solutions providers, manufacturers & suppliers
- Research and development (R&D) companies
- Market research and consulting service providers
- Academic institutes and universities
Global Percutaneous Coronary Intervention Market – Regional Analysis
US accounts for the maximum market share of the global percutaneous coronary intervention market and the market is expected to increase continuously in coming years. This can be attributed to increasing pool of awareness and the growing acceptability of percutaneous coronary intervention. Advancing technologies within the percutaneous coronary intervention such as advanced silicone and polymer implants is also driving the market. However there is a definite shift of percutaneous coronary intervention market to Asia pacific and Latin America with the most active part played by medical tourism industry.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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