The percutaneous coronary interventions market is projected to grow at a steady compound annual growth rate of 3.5% globally, according to a report by GlobalData.
Titled ‘MediPoint: Percutaneous Coronary Interventions – Global Analysis and Market Forecasts‘, the report covers the percutaneous coronary interventions market in 39 countries.
Increasing disease prevalence and development of new technologies has led to the growth of the industry. The market includes coronary stents, percutaneous transluminal coronary angioplasty (PTCA) balloons, and PTCA drug-eluting balloons, and was worth $6.3 billion in 2015 and is estimated to cross $8 billion by 2022.
Manufacturers are focusing on developing bare metal stents (BMS) and drug-eluting stents (DES), which feature innovative materials, designs, structures and coatings.
Using BMSes as a platform, DESes with innovative features are being designed to reduce elastic recoil and foreshortening, and improve radial strength, flexibility and vessel coverage.
The existing coronary interventions market is fragmented and saturated with large, mid-size, and small companies targeting various indications. Key players in the market include Abbott Vascular , Medtronic , and Boston Scientific .
To retain and acquire market share, manufacturers will need to improve the clinical performance of their products, according to GlobalData’s analyst Premdharan Meyyan. Focusing on emerging countries is another way to increase revenues as markets such as the US, France, Germany, Italy, Spain and the UK witness a decline in value due to the implementation of cost-containment policies by healthcare providers.
South American and Asia-Pacific countries such as Japan, China and India, which have diverse populations, are expected to grow steadily in the future. Japan and China are already regarded as the main targets for manufacturers due to their economic growth, pricing policies and huge population, adds Meyyan.