Acknowledging the fiercely ascending market, Market Research Future (MRFR) in its recently published study report asserts that the global cardiac catheterization market will continue to grow by 2023, registering a CAGR of 9.2% during the forecast period (2017-2023).
The Global Cardiac Catheterization Market is accruing pervasively mainly due to the growing rate of cardiovascular disorders, worldwide. Currently, the world is witnessing the increasing number of cardiac disorders cases and issues related to heart diseases. Sadly, the figure is expected to grow every year; despite the several innovative therapies and procedures. The rising prevalence of these diseases is becoming a major concern fueling the growth of the global cardiac catheterization market.
Rising technological advancements transpired in the field of heart care, bringing a diversity of engineering and design backgrounds, privacy, liability, and financial perspectives necessary to succeed in a complex health care system. Global Cardiac Catheterization market is growing as continuously increasing the patients suffering from arterial diseases. Changing lifestyle, an increasing number of the patient suffering from obesity and diabetes has also helped to expand the market of the cardiac catheterization market.
On the other hand, stringent regulations and reimbursement issues in many countries are some of the dominant factors obstructing market growth. Also, the lack of skilled healthcare professionals is expected to the hamper the market growth.
Global Cardiac Catheterization Market – Major Key Players
The global market consist of players such as Boston Scientific Corporation (US), Coloplast (Denmark), Dispocard GmbH (Germany), Becton, Dickinson and Company (US), St. Jude Medical (US), Abbott (US), Johnson & Johnson Private Limited (US), Teleflex Incorporated (US)., Smiths Medical (US), Edwards Life Sciences Corporation (US), Medtronic Inc (US), Rochester Medical Corporation (U.S), Maquet Medical India Private Limited (India), Terumo Medical Corporation (Japan), and others. These are some of the prominent players at the forefront of competition in the global cardiac catheterization market.
Global Cardiac Catheterization Market – Competitive Analysis
The market for cardiac catheterization is well established market with number of companies operating in this market. There are large number of companies involved in the development of the products, including the devices, and accessories for the various types of cardiac catheters.
Abbott is one of the big companies that is involved in the development of the cardiac catheterization products. The company has had some great developments in the cardiac catheterization segment in 2017.
In November 2017, Abbott announced the approval of its MitraClip device for treatment of people with mitral regurgitation (MR) from Japan’s Ministry of Health, Labour and Welfare (MHLW).
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In May 2017, Abbott announced the CE Mark of the “TactiCath Contact Force Ablation Catheter, Sensor Enabled”. The product is developed to make it easier for physicians to more effectively treat atrial fibrillation (AF).
In March 2017, Abbott announced U.S. Food and Drug Administration (FDA) approval of the “FlexAbility Ablation Catheter, Sensor Enabled” designed to improve the versatility and precision during cardiac ablation procedures to treat atrial flutter, a type of irregular heartbeat.
In January 2017, Abbott announced the U.S. launch and the first commercial uses of the new “EnSite Precision cardiac mapping system” and “Advisor FL Circular Mapping Catheter, Sensor Enabled” to map cardiac arrhythmias during ablation treatments.
Global Cardiac Catheterization Market – Segments
The market is segmented into five Key dynamics for an easy grasp.
By Procedures: Balloon Septostomy, Coronary Angioplasty, Catheter Ablation, Bipolar Pacing, Left Heart Catheterization, and Right Heart Catheterization among others.
By Types: Fractional Flow Reserve, Coronary Angiogram, Intravascular Ultrasound, and Optical Coherence Tomography among others.
By Applications: Heart Attack, Abnormal Stress Test, Coronary Vasospasm, and Cardiac Arrhythmia, among others.
By End-Users: Hospitals and Clinics among others.
By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Global Cardiac Catheterization Market – Regional Analysis
Owing to the presence of huge patients suffering from cardiovascular diseases, America dominates the global cardiac catheterization market. According to the Centers for Disease Control and Prevention, 28.4 million adults were suffering from heart diseases by January 2017. Increasing number of patients suffering from heart diseases and increasing healthcare expenditure have driven the growth of the market.
Europe accounts for the second largest market due to continuously increasing patient population, well-developed healthcare sector, high healthcare expenditure, and government support for the research and development.
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Asia Pacific is the fastest growing market; according to the World Health Organization (WHO), 60% of total world diabetic population lives in Asia Pacific region. Diabetes is one of the major risk factors for causing heart diseases. Increasing patients suffering from diabetes and heart diseases have stimulated the growth of the market.
The Middle East & Africa has the lowest market for the cardiac catheterization; however, the Middle East is the major contributor in this region due to the presence of well-developed economies like Kuwait and Qatar. On the other hand, because of limited development in the field of medical science and existence of economically poor countries, the market is limited in Africa.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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