Global Cath Lab Services Market Size

Cath Lab Services Market Analysis

The cath lab services market is expected to register a 5.8% CAGR during the forecast period (2022-2027).

Several countries were placed on lockdown in the early days of the pandemic. In the first half of 2020, the government banned trade with other countries and imposed travel restrictions, resulting in a decrease in healthcare services such as diagnoses, treatments, and surgical procedures. According to the findings of a nationwide survey by the Society for Cardiovascular Angiography and Interventions (SCAI) and the American College of Cardiology (ACC) Interventional Council conducted in September 2020, catheterization laboratories showed an "unprecedented" decline in cardiovascular interventions during the COVID-19 pandemic, and those delayed procedures tracked with regional COVID-19 burden. Moreover, the American College of Cardiology (ACC) and the Society for Cardiovascular Angiography and Interventions (SCAI) began helping cath labs prepare for the onslaught of the pandemic in March 2020 with a joint statement that provided advice on a variety of issues, including patient selection, resource allocation, and protection of healthcare workers. Therefore, such initiatives are creating lucrative opportunities for the cath lab services market. In turn, it is expected to be continued in the given time frame.

Hospitals halted performing elective treatments during the peak of the pandemic in the spring, including numerous non-urgent cath lab procedures like PCI and transcatheter aortic valve replacement. Hospitals have not stopped performing such treatments during the pandemic's peak but are seeking to strike a balance between COVID-related safety concerns and the need to undertake some CV procedures. With the increasing spread of COVID-19 and the prevailing burden of cardiovascular diseases, people have become more aware of their health and have started taking regular health check-ups, which is expected to foster the growth of the market.

Certain factors that are driving the market growth include the increasing prevalence of cardiovascular disorders and technological advancements. An increasing patient pool of cardiovascular diseases (CVDs) is one of the prime factors augmenting the growth of the cath lab services market. Sedentary lifestyles, junk food consumption, and mental stress are other key factors associated with the development of CVDs. According to the World Health Organization (WHO) data updated in June 2021, nearly 33.5 million people globally are suffering from atrial fibrillation (AFib), which is the most common type of serious arrhythmia. Moreover, the British Heart Foundation's Report titled 'UK Factsheet' published in July 2021, reports that 7.6 million people in the United Kingdom live with heart and circulatory diseases. Further, according to the 2022 American Heart Association (AHA) report, approximately, 244.1 million people were living with ischemic heart disease (IHD) around the world, and North Africa and the Middle East, Central and South Asia, and Eastern Europe had the highest prevalence rates of IHD in the world in 2020. With the rise in the aging population across the world, the number of patients suffering from heart rhythm disorders is likely to witness an increase, and this is a cause for concern. This will lead to increased adoption of cath lab services, thereby expected to drive the growth of the studied market.

However, the major restraining factor for the market is the lack of proper reimbursement systems globally, which poses significant challenges to the growth of the cath lab services market.