Albany, NY, March 11, 2016 (GLOBE NEWSWIRE) -- According to a latest study by Transparency Market Research (TMR), the global interventional cardiology devices market will firmly remain on the growth track thanks to the rising incidence of coronary artery disease, but the impact of this growth will be softened to some degree by a decrease in the average selling price of stents, a key product in the market. The report, published under the title, “Interventional Cardiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022," by Transparency Market Research, finds that the market’s valuation was US$8.7 bn in 2013, and will rise to US$11.2 bn by 2022, at a 2.9% CAGR through the forecast period.
“For the most part, the growth of the interventional cardiology devices market will result organically via regular product launches and innovative improvements to existing products”, says a senior TMR analyst.The report segments the global interventional cardiology devices market on the basis of product type and criteria. Based on product type, the market has been segmented into: percutaneous transluminal coronary angioplasty (PTCA) balloons, catheters, stents, percutaneous transluminal coronary angioplasty (PTCA) guidewires, interventional cardiology systems, and other accessories.
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In 2013, the stents formed the largest product segment in the global interventional cardiology devices market, thanks to the appreciable share held by drug eluting stents in the global market. For the purpose of an in-depth analysis, the report segments stents into drug eluting stents, bare metal stents, and bio-absorbable vascular stents.
Drug eluting stents represented the largest share in the market for interventional cardiology devices worldwide in 2013. Until 2022, the drug eluting stents segment is expected to remain in the leading position in the interventional cardiology devices market by product type based on the former’s demonstrated positive patient outcomes. However, the DES segment is expected to lose market share owing to the growing popularity of bio-absorbable stents. Bioabsorbable vascular stents will report the fastest growth rate over the forecast period given their ability to prevent complications such as late-stent and in-stent restenosis.
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Although this will slow down the growth rate of the DES segment, it will still continue to remain in a dominant position. Improved patient outcomes of drug eluting stents will remain the key factor fuelling their uptake.The catheters segment is sub-segmented into guiding catheters, angiography catheters, intravascular ultrasound (IVUS) catheters, and pulmonary artery catheters. The PTCA balloons segment is sub-segmented into scoring balloons, normal balloons, cutting balloons, and drug-eluting balloons. The report analyzes the largest and fastest-growing sub-segments under each of these segments.
Company profiles of leading market players form a crucial part of the report, especially for clients wanting to track the competition. For this purpose, the following companies have been profiled based on details such as product pipeline, recent M&A activity, financial status, and a SWOT analysis: St. Jude Medical, Inc., Abbott Laboratories, Inc., Terumo Medical Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Cordis Corporation, Cook Medical, Medtronic, plc, and Smiths Medical.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research