The recent analysis by Report Ocean on the Percutaneous Coronary Intervention Market Report 2022 revolves around various aspects of the market, including characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, strategies, etc. It also includes COVID-19 Outbreak Impact, accompanied by traces of the historic events. The study highlights the list of projected opportunities, sales and revenue on the basis of region and segments. Apart from that, it also documents other topics such as manufacturing cost analysis, Industrial Chain, etc. For better demonstration, it throws light on the precisely obtained data with the thoroughly crafted graphs, tables, Bar & Pie Charts, etc.
The global percutaneous coronary intervention market accounted for USD 8,679.1 million in 2015 and is expected to register a CAGR of 7.10 % during the forecast period.
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Percutaneous coronary intervention (PCI) is a procedure used to treat the narrowing of coronary arteries. In this procedure, a catheter is used to place a small structure, i.e., a stent to open blood vessels in the heart that have been narrowed owing to plaque build-up. Factors such as the growing prevalence of cardiac diseases, the rising preference for minimally invasive procedures, and growing geriatric population are anticipated to propel the growth of the market over the forecast period. Factors such as the rising prevalence of heart diseases and increasing preference for minimally invasive procedures are expected to fuel the demand for percutaneous coronary intervention.
What is the Percutaneous Coronary Intervention?
Percutaneous Coronary Intervention (PCI), commonly known as angioplasty, is a minimally invasive medical procedure used to treat coronary artery disease (CAD), a condition characterized by the narrowing or blockage of the coronary arteries. PCI is a vital therapeutic approach in the field of cardiology, aiming to improve blood flow to the heart muscle by expanding narrowed or blocked arteries. In recent years, the PCI market has witnessed significant growth and transformation, reflecting the increasing prevalence of CAD and advancements in interventional cardiology techniques.
This evolving market can be categorized into several key segments, including devices, procedures, and end-users. The devices segment encompasses the tools and equipment required for PCI procedures, such as coronary stents, balloons, guidewires, and atherectomy devices. The procedures segment covers the various PCI techniques, such as plain old balloon angioplasty (POBA), drug-eluting stent (DES) implantation, and other emerging methods. As for end-users, the market caters to both hospitals and outpatient settings, with a growing trend towards outpatient PCI centers.
A notable driver of the PCI market is the rising global burden of CAD, largely attributed to sedentary lifestyles, poor dietary habits, and an aging population. Moreover, advancements in medical technology and the introduction of innovative devices, such as bioresorbable stents and drug-eluting balloons, have further propelled the market’s growth. Increased awareness of CAD and the benefits of timely intervention, along with improved healthcare infrastructure in emerging economies, are also contributing to the expansion of the PCI market. However, challenges such as the high cost of these procedures and concerns about long-term efficacy and safety remain areas of focus for the industry.
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Major Players
Some of the key players for the global percutaneous coronary intervention market are Abbott, ASAHI INTECC Company Limited, B. Braun Melsungen AG, Biosensors International Group, Ltd., BIOTRONIK, Boston Scientific Corporation, C. R. Bard, Inc, Comed B.V., Cook, Cordis, Medtronic Plc, Meril Lifesciences Pvt. Ltd, Merit Medical System, Terumo Corporation, and others.
Scope of the Report:
This comprehensive analysis delves into the effects of COVID-19 on the worldwide market, offering insights from both a global and regional viewpoint. The financial landscape of the industry saw a valuation of millions in 2022, which surged to its peak in 2023, and is projected to achieve another pinnacle by 2031, demonstrating a remarkable compound annual growth rate (CAGR) for the period between 2023 and 2031. The study places a strong emphasis on a detailed market assessment of the impact of COVID-19, presenting strategic response plans tailored to diverse regions, including North America, Europe, China, and Japan.
Some Important Questions Answered in Market Report:
- What will be the market growth rate, overview, and analysis by type in 2031?
- What are the primary factors influencing market dynamics?
- What are the drivers, challenges, and business risks in the market?
- What are the overall market dynamics? Does the overview include scope analysis and price analysis of key manufacturer profiles?
- What are the opportunities, risks, and driving forces in the market?
- Who are the main manufacturers in the market?
- What factors are driving and limiting this industry?
- What are the conditions for market growth?
- What are the industry opportunities and segment risks faced by major vendors?
- What are the strengths and weaknesses of the main providers?
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