Integrated Cardiology Devices Market Analysis
The global integrated cardiology devices market is predicted to grow at a 12.4% CAGR over the forecast period (2017-2023), as per the latest Market Research Future (MRFR) report. Integrated cardiology devices, simply put, are equipment that is used by surgeons during critical cardiac surgeries. Such modern devices are widely used for early diagnosis to ensure better treatment of different cardiovascular diseases.
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Various factors are propelling the integrated cardiology devices market growth. These factors, as per the MRFR report, include rising prevalence of cardiovascular ailments due to consumption of alcohol, lack of physical activities, and high tobacco intake, various technological advancements in this field such as miniaturization, and rising adoption rates of surgeries that are minimally invasive. Additional factors boosting market growth include sedentary and unhealthy lifestyle and increasing efficacy and efficiency of devices.
On the contrary, lack of specialty hospitals and lack of infrastructure in the poor and developing regions, expensive treatment, and lack of knowledge among people are factors that may deter the integrated cardiology devices market growth over the forecast period.
Integrated Cardiology Devices Market Segmentation
The Market Research Future report provides a wide segmental analysis of the interventional cardiology device companies based on end users, applications, and types.
Based on types, the integrated cardiology devices market is segmented into optical coherence tomography (OCT), fractional flow reserve (FFR), electronic health record (EHR), cardiology EMR software, and others.
Based on application, the integrated cardiology devices market is segmented into cardiothoracic surgery, cardiac resynchronization therapy, internal monitoring, sudden cardiac arrest, and others.
Based on end users, the integrated cardiology devices market is segmented into hospitals, catheterization laboratories, and others.
Integrated Cardiology Devices Market Regional Analysis
Based on the region, the integrated cardiology devices market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will lead the market over the forecast period. This is owing to increasing expenditure on healthcare, particularly in Canada and the US. Moreover, the rising number of cardiac surgeries in Canada and the US are also boosting the market growth. The high concentration of leading hospitals, good reimbursement rates, and the presence of several medical devices companies in the United States are also favoring market growth in this region.
The integrated cardiology devices market in Europe is predicted to have the second-largest share in the market over the forecast period. This is owing to growing healthcare penetration and the medical devices industry. France and Germany are the leading contributors in this region. Germany has a large medical devices industry that is pushing market growth.
The integrated cardiology devices market in the APAC region is predicted to grow at the fastest pace over the forecast period. India, China, and Malaysia are the key contributors in this region. This is owing to the rising penetration of the healthcare industry.
The integrated cardiology devices market in the Middle East and Africa is predicted to have a steady growth over the forecast period. This is owing to the poor growth in the African region due to poor healthcare development, and poor political and economic conditions.
Integrated Cardiology Devices Market Key Players
Leading players profiled in the integrated cardiology devices market report include Athenahealth, Inc. (US), Koninklijke Philips N.V. (Netherlands), Acrostak (Switzerland), Lepumedical (Bejing), Terumo Corporation (Japan), Getinge (Sweden), Johnson and Johnson (US), Abbott Laboratories (US), Edwards Lifesciences Corporation (US), Jude Medical (US), Boston Scientific Corporation (US), and Medtronic (US), among others.
August 2019: A catheter-based imaging device has recently received FDA approval. This machine will allow doctors in viewing the insides of the bile duct and the pancreas in real-time, using optical coherence tomography systems (OCT) made by NinePoint Medical. This system is likely to aid gastroenterologists in evaluating the bile ducts of the body thoroughly, including blockages of an unknown origin, both in the twisted and small channels which can present challenges for different imaging technologies. Besides, this can also be used for marking areas of tissue through a laser for guiding tissue acquisition at the time of a subsequent biopsy.
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