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 fuelling the growth of the global cardiac catheterization market.
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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).
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.
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.
Cardiac Catheterization Market – Regional Analysis
The North American region accounts for the global leader for the cardiac catheterization market owing to the increasing prevalence of cardiovascular diseases among the rising geriatric population, vulnerability to hypertension and obesity issues leading to the heart diseases and disorders. The market is constantly growing due to huge people suffering from major or minor heart issues.
Additional factors substantiating the market growth include increasing government initiatives and funding for research, rising demand for technologically advanced cardiac catheterization treatments, and the developments in advanced medical treatment options.
The European region is the second-largest market for cardiac catheterization. Attributing to the increasing healthcare expenditure and availability of advanced treatment facilities, along with the government initiatives of healthcare, the European market is estimated to register a phenomenal CAGR during the forecast period.
Cardiovascular disease is one of the major concerns in Europe; it significantly contributes to the market growth in this region. Growing rate of cardiovascular disorders alongside government initiatives are expected to positively impact the market growth of the cardiac catheterization market in this region.
The Asia Pacific region is rapidly emerging as a promising market for cardiac catheterization. Increasing geriatric population alongside the prevalence of cardiac disorders and diabetes growing at an alarming rate is fostering the market growth in the APAC region.
Besides, the faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, favorable insurance, and reimbursement policies are some of the other dominant factors driving the market growth. Furthermore, eminent key players are setting up their manufacturing plants in the emerging economies such as Singapore, China, Japan, Korea, and Australia, which, in turn, is propelling the growth of the cardiac catheterization market in this region.
Global Cardiac Catheterization Market – Competitive Analysis
The market is fiercely competitive due to the presence of several large and small players forming a competitive edge in the market incorporating strategic partnership, collaboration, acquisition, expansion, and technology launch. Significant investments are transpired in the field to bring innovations to the therapy and clinical trials. High growth potential demonstrated by the market is likely to attract several new entrants, this, in turn, will result in intensifying the market competition further.
Hospitals are investing heavily in R&D and clinical trials to develop a comprehensive, efficient, and state-of-the-art cardiac catheterization facility to provide tailor-made transplant surgeries based on the ailments, age, and other complications. With advanced diagnostics, and comprehensive rehabilitation schedule these hospitals ensure that the patient has access to the best care at every stage of the transplant journey.
Key Players:
Some of the eminent leaders of the market include Coloplast (Denmark), Boston Scientific Corporation (US), Dispocard GmbH (Germany), St. Jude Medical (US), Becton, Dickinson and Company (US), Abbott (US), Teleflex Incorporated (US)., Johnson & Johnson Private Limited (US), Smiths Medical (US), Medtronic Inc (US), Edwards Life Sciences Corporation (US), Rochester Medical Corporation (U.S), Terumo Medical Corporation (Japan), and Maquet Medical India Private Limited (India).
Industry/Innovations/Related News:
August 23, 2018 – Henry Ford Wyandotte Hospital (US) inaugurated a newly renovated cardiac catheterization lab. The state-of-the-art cardiac catheterization lab is designed to integrate technology, space, and workflow and to create a multi-sensor environment that operates efficiently to achieve a world-class care experience for patients, families, and staff. This move presages hospital’s another milestone in continuing to provide top-of-the-line healthcare to patients.
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