NEW YORK , March 28, 2022 /PRNewswire/ -- From an estimated $3,929.2 million in 2021, the interventional vascular consumables market revenue is predicted to grow to $5,501.7 million by 2030, at a CAGR of 3.8%. According to the market research report published by P&S Intelligence. Since interventional vascular procedures are performed on the arteries and veins, the rising incidence of heart diseases has a direct positive influence on the demand for the consumables used during these procedures.
Among all the consumables used, the demand for catheters is the highest. This is because catheters are widely used to introduce drugs and other agents through the blood vessels to the site of intervention or remove fluids from the body. Moreover, most catheters are used only once, to protect patients from hospital-acquired infections; therefore, they need to be procured in bulk regularly.
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Key Findings of Interventional Vascular Consumables Market Report
Between coronary and peripheral consumables, the coronary type are used more because of the rising prevalence of coronary artery disease. As per the American College of Cardiology, disability-adjusted life years due to this condition stood at 182 million in 2019, while the number of deaths because of it numbered 9.14 million.
A key factor driving the interventional vascular consumables market is the rising geriatric population, which has now begun preferring minimally invasive surgeries, which are quick and cost-effective, cause less pain, and have a shorter recovery period.
Inferior vena cava (IVC) filters are expected to record a rapid increase in demand in the coming years as they filter out clots, thus preventing them from traveling through the IVC to the lungs and causing a pulmonary embolism.
Additionally, with the increasing spending on R&D, newer, more-advanced catheters, IVF filters, and other interventional vascular consumables are making it to healthcare settings, thus enhancing the outcomes for patients.
For instance, Merit Medical Systems Inc. launched the One-Vac evacuated drainage bottle in August 2021 . It has an ergonomic handle, which allows doctors to regulate the flow and is easy to hold and remove, thus offering doctors and, ultimately, patients, more convenience.
Thus, product launch has become one of the strongest tools for interventional vascular consumables market players to strengthen their hold and get ahead of their competitors.
Browse detailed report on Interventional Vascular Consumables Market Size and Demand Forecast to 2030
Currently, the strongest positive impact of product launches for market players is being seen in North America . Led by the U.S., the region is home to the largest healthcare sector in the world. Moreover, the established medical reimbursement system allows people to undergo interventional vascular and other procedures, which drives the demand for the associated consumables. Moreover, the CDC says that in the U.S., 14.2% of the population above the age of 45 years reports a stroke, coronary artery disease, or both.
The major companies in the interventional vascular consumables market are Boston Scientific Corporation, Abbott Laboratories, Medtronic plc, Terumo Corporation, Cook Medical LLC, Becton, Dickinson and Company, Merit Medical Systems Inc., Heraeus Holding GmbH, B. Braun Melsungen AG, and Johnson & Johnson. Apart from launching new consumables, they are engaging in mergers and acquisitions and facility and geographical expansions.
Interventional Vascular Consumables Market Segmentation Analysis
Interventional Vascular Consumables Market by Type
Interventional Vascular Consumables Market by Product Type
Inferior Vena Cava (IVC) Filter
Interventional Vascular Consumables Market Regional Analysis
Middle East and Africa (MEA)
Global Catheters and Bands Market Business Opportunities
Global Catheter Market Business Opportunities
Global Guidewires Market Business Opportunities
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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SOURCE P&S Intelligence
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