Fractional Flow Reserve Market Size Worth $1.08 Billion By 2025
The global fractional flow reserve market size is expected to reach USD 1,080.3 million by 2025, progressing at a CAGR of 10.5% during the forecast period. Widening base of cardiovascular diseases coupled with mounting cases of diabetes in developed as well as developing economies is escalating the growth of the market. Additionally, launch of novel devices in fractional flow reserve (FFR) market such as guidewires and monitoring systems are also anticipated to aid market growth. For instance, in October 2017, GE Healthcare and Medis, a Dutch based imaging software provider entered into a collaborative agreement in an attempt to increase clinical availability of image-based fractional flow reserve technology, offered by Medis.
Moreover, consolidation activities, such as acquisition of St. Jude by Abbott in 2017 in order to increase its foothold in the cardiovascular devices market, is likely to keep the market highly competitive and thereby, augur well for the overall market.
Further key findings from the report suggest:
FFR monitoring systems accounted for significant share of about 54.0% in 2018, owing to extensive usage in single and multiple vessel CAD
FFR guidewires are expected to witness a higher CAGR over the forecast period due to increase in fractional flow reserve procedures conducted globally
North America was the leading revenue contributor in the market in 2018. The growth can be attributed to increased investments in Ramp;D by medical device companies
The Asia Pacific FFR market is anticipated to experience noteworthy growth due to rising healthcare spending and increasing diabetes incidence in countries such as China and India
Some of the key companies operating in the market are OPSENS Medical, Abbott Laboratories, Boston Scientific, and Bracco S.p.A.
Industry participants are engaged in extensive research activities to develop novel FFR products for diagnosis of cardiac disorders.
Grand View Research has segmented the global fractional flow reserve market on the basis of product, application, and region:
Fractional Flow Reserve Product Outlook (Revenue, USD Million; 2014 - 2025)
- FFR guidewires
- FFR monitoring systems
Fractional Flow Reserve Application Outlook (Revenue, USD Million; 2014 - 2025)
- Multi-vessel coronary artery disease
- Single-vessel coronary artery disease
Fractional Flow Reserve Regional Outlook (Revenue, USD Million; 2014 - 2025)
Middle East amp; Africa