Coronary Artery Disease Treatment Devices Market Size Worth $21.95 Billion by 2024 | Infinium Global Research

Coronary Artery Disease Treatment Devices Market

Coronary Artery Disease Treatment Devices Market

Infinium Global Research

Infinium Global Research

The Coronary Artery Disease Treatment Devices Market Is Projected to Grow at a CAGR of 5.45% During the Forecast Period to Reach USD 21.95 Billion By 2024.

PUNE, MAHARASHTRA, INDIA, September 18, 2019 /EINPresswire.com/ — According to the new market research report "Coronary Artery Disease Treatment Devices Market (Product – PTCA Balloon Catheters, Coronary Stents and Coronary Guidewires): Global Industry Analysis, Trends, Market Size and Forecasts to 2024.” The coronary artery disease treatment devices market is projected to reach approximately USD 21.95 billion by 2024 from USD 15.05 billion in 2017, with a CAGR of 5.45% over the forecast period.

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Coronary Artery Disease is a narrowing of coronary arteries that supply blood, oxygen, and nutrients to the heart. Blood flow to the heart is restricted due to this plaque which makes the heart starved for oxygen. Different types of coronary artery disease treatment devices are used to treat this type diseases, such as percutaneous transluminal coronary angioplasty (PTCA) balloon catheters, coronary stents, and coronary guidewires.

Rising Incidences of Coronary Artery Diseases Drive the Coronary Artery Disease Treatment Devices Market

Rising incidences of coronary artery diseases and a growing geriatric population drive the coronary artery disease treatment devices market. As per the World Health Organization, cardiovascular diseases are the number 1 cause of death globally and more people die annually from cardiovascular diseases than from any other cause. An estimated 17.9 million people died from cardiovascular diseases in 2016, representing 31% of all global deaths in the same year. Of these deaths, 85% are due to heart attack and stroke.

The prevalence of sedentary lifestyle and increased psychosocial stress contribute to the growth of coronary artery disease treatment devices market. The narrowing of the coronary arteries is due to the deposition of cholesterol or fatty acids on the inner walls of the arteries. However, the high cost of these devices hinders the growth of coronary artery disease treatment devices market. Moreover, advancement in technology brings new opportunities for the coronary artery disease treatment devices market.

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Coronary Artery Disease Treatment Devices Market is Segmented on The Basis of Product Type

Global coronary artery disease treatment devices market is segmented on the basis of product type. Based on product type, the market is classified into PTCA balloon catheters, coronary stents, and coronary guidewires. Among them, PTCA balloon catheters hold the largest share as it is widely used in angioplasty for the purpose of improving myocardial blood flow in a localized stenotic lesion of the coronary arteries.

North America is Anticipated to Dominate the Coronary Artery Disease Treatment Devices Market

Geographically, the coronary artery disease treatment devices market is categorized into North America, Europe, Asia-Pacific and Rest of the World. North America is anticipated to dominate the coronary artery disease treatment devices market. The U.S is the key country contributing to the growth of the coronary artery disease treatment devices market.

The prevalence of coronary artery diseases in the U.S. contributes to the growth of coronary artery disease treatment devices market. As per the American college of cardiology, cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the United States (US), or one out of every three deaths. While the Asia-Pacific region is expected to grow in coronary artery disease treatment devices market owing to the increasing geriatric population.

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Coronary Artery Disease Treatment Devices Market: Competitive Landscape

The key players in the coronary artery disease treatment devices market are B. Braun Melsungen AG, Medtronic plc, Abbott Vascular, Boston Scientific, Terumo, Cook Group, Biotronik SE & Co. KG, C. R. Bard, Inc., MicroPort Scientific Corporation and others. Companies are focusing on partnerships, mergers, and acquisitions. For instance, Medtronic acquires HeartWare International. HeartWare International is an innovator of less-invasive, mechanical circulatory support technologies for treating patients with heart failure and Medtronic provides medical technology, services, and solutions in the healthcare sector.

Kishor
Infinium Global Research
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Source: EIN Presswire