Increase in Minimally Invasive Procedures is fueling the Growth of Interventional Cardiology Market

Interventional cardiology constitutes of catheter-based treatments or minimally invasive treatment of the cardiovascular diseases such as coronary and peripheral artery diseases, structural heart, and congenital heart diseases. According to WHO, the global population of over 60 years is estimated to increase from 12% of overall population in 2015 to about 22% by 2050 increasing the number of people with some form of cardiovascular disease, which includes acquired structural heart defects, aortic aneurysms, peripheral aneurysms, thrombosis, atherosclerosis that causes blockages and ultimately leading to death. With the significant development in medical sciences, the number of deaths due to communicable diseases has drastically reduced increasing longevity of population leading to a staggering increase in lifestyle related disorders. Cardiovascular diseases are one of the major causes of serious illness and death. The most common corrective procedures for treating the cardiovascular condition is through open heart procedure. Since open heart surgery results in considerable amount of trauma and require long recovery periods it is not recommended for people who are 65 and above heightening the risk of death due to heart failure, This untreated patient group represents a significant challenge to healthcare, hence minimally invasive procedure is the only option for aging population and is attracting significant amount of investments.

According to IQ4I analysis, the interventional cardiology global market is expected to grow at a high-single-digit CAGR to reach $46,124.1 million by 2023 due to increase in the prevalence of cardiovascular disorders, rise in aging population, increase in the number of people with lifestyle diseases, increasing number of interventional procedures, and technology advancements and growing healthcare budgetary allocation.

The advantages of minimally invasive surgery when compared to an open surgery includes, less trauma, decrease in hospitalisation expenditures due to less hospital stay and quick post-operative recovery period. However, some issues like lack of skilled and trained professionals and availability of alternatives products and procedures such as an open heart bypass surgery and anticholesterol drugs may hinder the growth of interventional cardiology devices usage.

Interventional cardiology devices are categorised into therapeutic and diagnostic devices for treating various cardiovascular diseases. Some of the diagnostic devices include Intravascular ultrasound (IVUS), fractional flow reserve (FFR) and optical coherence tomography (OCT). Catheters such as ablation catheters and balloon catheters, stents such as bioabsorbable stents and stent grafts and structural heart devices such as transcatheter aortic valve repair (TAVR), valvuloplasty and mitra clip are few therapeutic devices.

Technologies such as laser catheter are efficiently used to open narrowed coronary blood vessels wherein laser energy is used to essentially vaporise the blockage inside the vessel resulting in increased blood flow. Ablation catheters are the fastest growing segment in catheters market with double-digit CAGR that are used in the treatment of sudden cardiac arrest, or atrial fibrillation, arrhythmias or irregular heartbeats. These catheters are used for making small scars in heart tissue preventing from abnormal electrical signals. Emerging use of bioresorbable stents is estimated to enhance the utilisation of stents in coronary artery disease treatment in coming years with a high double digit CAGR. New devices such as Abiomed’s “Impella“world’s smallest catheter pump usage is growing rapidly.

The rapid advancements in technologies, supporting cardiac procedures such as 3D imaging, 3D bioprinting and biosensors are going to contribute the growth of interventional cardiology. Implant procedures with the support of 3D imaging technique hold more advantage when compared to 2D imaging. For example in March 2017, Henry Ford Hospital (U.S.) performed a study on the success rate of using a 3D image instead of 2D in left appendage occlusion procedures of Boston’s Watchman device, it was observed that 3-D imaging procedure provided no complications compared to a 2D imaging. 3D printing technology provides advantages such as better and anatomically accurate implants that are manufactured with minimum cost and holds minimum risks.

Increasing launch of new products by many major and small players is providing a lot of options for doctors in terms of increased patient safety and faster post-treatment recovery. The adoption of interventional cardiology procedure is expanding globally by slowly penetrating into emerging regions where it has high growth prospects. In countries like France, the adoption rate has increased from 150 in 2006 to 5,500 minimally invasive procedures in 2014 especially for conditions like aortic valves and mitral regurgitation. Percutaneous coronary intervention (PCI) is the most commonly performed technique in the United States. It was recorded that around 492,000 PCI procedures were done in the year 2010 in U.S. and around 96,100 procedures in U.K. in 2014.

Interventional cardiology market is highly consolidated and held by major players such as Abbott Laboratories, Boston Scientific and Medtronic, Plc. These companies are adopting an acquisition strategy for the expansion of cardiovascular and structural heart devices product portfolio for example in the year 2017, Abbott acquired St. Jude medical, a leading global medical device manufacturer company, to acquire the high positions in the cardiovascular market including atrial fibrillation and structural heart. Transcatheter Mitral Valve Replacement (TMVR) is considered as one of the major technological advancement in interventional cardiology and technologies like Procyrion’s “aortix” a catheter-based small and continuous heart pump for heart failure patients and Cardiokinetix’s “parachute” implant used for remodeling the damaged muscle and restoring the geometry and function of left ventricles are projected to spur the adoption of catheter-based technology in coming years.

Geographically, in North American region U.S. dominates the adoption of interventional cardiology market with more than 50 thousand procedures, contributing the largest share of the revenue. This is due to advanced healthcare infrastructure, constant technological innovations, and increase in lifestyle diseases and growing acceptance for minimally invasive procedures. However, Asia-Pacific region is propelling with fast growth due to the changing lifestyle, increasing healthcare expenditure and growing public awareness towards minimally invasive surgeries.

Major players in the interventional cardiology global market are Abiomed (U.S.), Abbott Laboratories (U.S.), Boston Scientific (U.S.), B. Braun (Germany), C.R. Bard (U.S.), Cook Medical (U.S), Edwards Lifesciences (U.S.), Johnson &Johnson (U.S.), Medtronic PLC. (Ireland), Terumo Corporation (Japan) and W.L.Gore & Associates, Inc. (U.S.).

BioVentrix, (U.S.), Biotronik GMBH & Co. (Germany), Cardiovascular Systems, Inc. (U.S.), Cardiva Medical, Inc.(U.S.), Cardiokinetix (U.S.), Procyrion (U.S.), Cardinal Health (U.S.), Getinge Group (Sweden), Goodman Co., Ltd. (Japan), InspireMed Ltd.(Israel), Lepu Medical (China), Lombard Medical Technologies (U.K.), Meril Life Sciences Pvt. Ltd.(India) and MicroPort Scientific Corporation (China) are some of the emerging players in the interventional cardiology market.


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