Interventional Cardiology Devices Market Size

Interventional Cardiology Devices Market Analysis

The Interventional Cardiology Devices Market size is estimated at USD 17.28 billion in 2024, and is expected to reach USD 22.37 billion by 2029, growing at a CAGR of 7.48% during the forecast period (2024-2029).

The COVID-19 pandemic impacted several interventional cardiology (IC) and electrophysiology (EP) operations to be performed globally. For instance, according to an article published in PLOS ONE in September 2022, during the COVID-19 pandemic, there was a reduction in percutaneous coronary intervention (PCI) volumes and higher risk-adjusted mortality. COVID-19-positive patients experienced significantly worse outcomes. Thus, the COVID-19 pandemic had an adverse impact on the market's growth in its preliminary phase. 

Although the COVID-19 pandemic significantly impacted market growth in the initial phases, with the help of government initiatives, innovation, and digital health, the market has recovered. For instance, according to an article published by Current Cardiology Reports in March 2022, remote telehealth monitoring, telehealth clinic visits, and patient education through social media were implemented and showed benefits to those at higher risk of cardiovascular events. 

Additionally, robotic PCI emerged as a promising strategy in experienced centers during the pandemic, and it facilitated procedural distancing, minimized exposure risk, and decreased PPE cost. Hence, with better access to healthcare access and the implementation of telemedicine during the pandemic, the market was expected to gain its growth pace over the forecast period.

Furthermore, the major factors for the growth of the interventional cardiology devices market include the growing prevalence of coronary artery diseases (CADs), technological advancements in interventional cardiology devices, and the growing demand for minimally invasive treatment globally. For instance, according to the British Heart Foundation's Report published in July 2022, 7.6 million people in the United Kingdom lived with heart and circulatory diseases in 2021, out of which 4 million were men and 3.6 million were women. Therefore, the increasing burden of heart disease is anticipated to boost the usage of interventional cardiology devices, in turn driving the market growth over the forecast period.

Moreover, market players are competing to launch advanced products for better treatment and have invested in research and development programs to improve their existing product lines and launch new product portfolios. For instance, in February 2022, Cardiovascular Systems, Inc. partnered with Innova Vascular, Inc. (Innova) to develop a full line of novel thrombectomy devices. Similarly, in July 2021, ORIGIN SC and ORIGIN NC, two high-performance balloons for vessel preparation, were launched by MedAlliance for patients suffering from life-threatening coronary and peripheral arterial disease. Such development is expected to drive the growth of the market over the forecast period.

Hence, as per the aforementioned factors, such as the growing prevalence of coronary artery diseases (CADs), technological advancements in interventional cardiology devices, and the growing demand for minimally invasive treatment globally, the interventional cardiology devices market is likely to grow over the forecast period. However, a stringent regulatory scenario for manufacturing interventional cardiology devices and the availability of effective first-line treatments are expected to restrain the market's growth.