Percutaneous Coronary InterventionMarket To Expand WithRising Incidences of Cardiovascular DisordersBy A CAGRof 5.39% Throughout 2020-2027
Research Nester has released a report titled “Percutaneous Coronary Intervention Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Health Organization (WHO), in one of its statistics stated that the global cardiovascular disease death burden in the year 2016is estimated to reach 17.9 million.
The statistics portray the growing global concern for cardiovascular disorders which is caused due to factors such as consumption of tobacco, alcohol or an unhealthy diet, along with the prevalence of high blood pressure and obesity. Backed by the advancements observed in the healthcare industry, along with the increasing investments in the healthcare industry for several R&D activities, the demand for advance treatments is growing massively. The rising need to treat such diseases along with factors such as growing ageing population around the world who are highly prone to diseases are some of the factors anticipated to drive the growth of the global percutaneous coronary intervention market.
The global percutaneous coronary intervention market is anticipated to grow at a CAGR of 5.39% during the forecast period, i.e. 2020-2027. The market is thriving on the back of rising number of FDA approved products, which has created vast opportunities for manufacturers of percutaneous coronary intervention to operate in the segment, increasing incidences of chronic cardiovascular diseases along with growing development in the healthcare sector in nations around the world which provides a favorable environment for the service providers are some of the factors anticipated to contribute towards the growth of the global percutaneous coronary intervention market. Further, the global percutaneous coronary intervention market is anticipated to reach USD 22866.88 million by the end of 2027 from USD 14490.84 million in the year 2018, and also achieve a Y-o-Y growth rate of 6.02% in 2027 as compared to the previous year.
The global percutaneous coronary intervention market consists of various segments which include by product and by end users. Among these segments, coronary stents segment, which is a sub-segment of the product segment is anticipated to held a market share of 53.84% in the year 2018 is anticipated to attain a CAGR of 5.90% over the forecast period 2020-2027 and reach a value of USD 12864.93 million by the end of 2027.
Geographically, the global percutaneous coronary intervention market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, is anticipated to grow at a growth rate of 1.47x over the forecast period on account of presence of nations such as U.S. and Canada, where U.S. held the dominant market share of around 89% during the year 2018. Moreover, improved healthcare infrastructure, increased funds for R&D in healthcare industry along with the growing initiatives taken by the U.S. government to upgrade percutaneous coronary intervention products are some of the factors anticipated to drive the growth of the North America percutaneous coronary intervention market.
However, concerns for lack of availability of skilled professionals along with risk of high infection observed in patients with the utilization of percutaneous coronary intervention procedures are some of the factors estimated to act as a barrier to the growth of the global percutaneous coronary intervention market.
This report also studies existing competitive scenario of some of the key players of the global percutaneous coronary intervention market, which includes profiling of Abbott (NYSE: ABT), Boston Scientific Corporation (NYSE: BSX), Medtronic plc (NYSE: MDT), Teleflex Incorporated (NYSE: TFX), B. Braun Melsungen AG, Getinge AB (STO: GETI-B), Terumo Corporation (TYO: 4543), Asahi Intecc Co., Ltd. (TYO: 7747), Becton, Dickinson and Company (NYSE: BDX) and Biosensors International Group, Ltd.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Percutaneous Coronary Intervention Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall percutaneous coronary intervention industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global percutaneous coronary intervention market in the near future.