Viral Vector Manufacturing Market Growth Insight Analysis 2020-2027

 Global viral vector manufacturing market is expected to grow significantly over the forecast period. It is projected that the global viral vector manufacturing market is expected to register a CAGR Approx. 22.65% with an expected market value of USD 319 million during the forecast period of 2018–2023. Gene therapy is one of the preferred treatment options for most chronic diseases, involving insertion of a functional copy of a gene into a defective cell. Viral vector methods are used in effective transfer of therapeutic gene into the target cells. Viral vectors used in gene therapy include retroviral vectors, adenoviral vectors and adeno-associated viral vectors.

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Numerous factors such as rise in number of clinical trials, increase in the number of gene therapy candidates, and growing necessity for an effective mode of disease treatment are expected to drive the growth of the market. Also, the characteristics of viral vectors such as ability to express therapeutic genes efficiently, and non-pathogenic nature fuels the growth of the market. Moreover, several companies involved in the development of viral agent-based products often seek support in terms of strategic collaborations and acquisitions with contract service providers to deliver a clinical grade product. This is mainly because of the limited availability and complexity of platform and technologies used for vector designing, production, packaging, and release testing. For example, in December 2017, Merck announced a commercial supply agreement to manufacture viral vectors for Bluebird Bio, Inc. for its use in potentially transformative gene therapies. This move will accentuate the life science business of Merck as a leading contract manufacturing organization and commercial provider of viral vectors for gene therapy.

However, high cost of gene therapies and possible mutagenesis may hamper the market growth during the assessment period.

Global Viral Vector Manufacturing Market – Segmentations

The MRFR analysis is segmented into five key dynamics for enhanced understanding.

By Type: Retroviral Vectors, Adeno-Associated Viral Vectors, and Adenoviral Vectors among others.

By Disease: Cancer, Genetic Disorders and Infectious Diseases among others.

By Application: Gene Therapy and Vaccinology among others.

By End-user : Pharmaceutical Companies, Biotechnology Companies, and Research Institutes, among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global Viral Vector Manufacturing Market - Regional Analysis

The North American Region heading with the growing prevalence of autoimmune and chronic diseases, accounts for the leading market for viral vector manufacturing, globally. Moreover, technological advancements in the manufacturing of these vectors is a key force driving the growth of this market.

Additionally, favorable reimbursement policies and the presence of well-developed healthcare infrastructure, and increasing geriatric population are some of the key driving forces contributing to the growth of the regional market.

The U.S., backed by a large number of patients suffering from Alzheimer’s and Parkinson's diseases, majorly contributes to an increase in the demand for viral vectors in the region. Moreover, factors such as the high healthcare expenditures alongside the availability of viruses required for the production of these vectors and technological expertise drive the growth of the regional market.

The European region, led by the well-established R&D sector accounts for the second-largest market for viral vector manufacturing.  Besides, factors such as the availability of funds for research and increasing healthcare expenditures drive the regional market. Moreover, the increase in occurrences of chronic diseases has led to the rise in the market growth in the region. Also, the presence of a developed healthcare sector and the resurging economy in the region foster the growth of the viral vector manufacturing market in Europe.

The upcoming viral vector manufacturing market trends in the Asia Pacific region is emerging as a promising market owing to the huge patient population suffering from diseases such as Parkinson’s, Alzheimer’s, and ALS.

Moreover, continuously growing healthcare sector led by the rapid economic growth in the APAC that is increasing the per capita healthcare expenses is a dominant driving force behind the growth of the regional market. Recent economic data suggests that China along with Southeast Asia is expected to join the ranks of the deep-pocketed Asian economies such as Taiwan and Korea.

China, owing to the presence of a huge geriatric population leads the viral vector manufacturing market in the APAC. Whereas, India due to the vast population base, rapidly changing economy, and the increasing number of manufacturers of these vectors, accounts for the second largest market in the region.

Whereas, the Middle East & Africa (MEA)region has the least market share due to the lack of awareness and low healthcare expenditures. The viral vector manufacturing market in the MEA region will exhibit moderate growth during the corresponding period.

Global Viral Vector Manufacturing Market   - Competitive Analysis

The structure of the viral vector manufacturing market is changing due to the acquisition of local manufactures by multinational companies. Due to the increasing competition in the market, multination companies are using the strategy of acquisition, which has increased the profit of the company as well as significantly reduced the competition.

Major Players:

Key players leading the global viral vector manufacturing market include Sanofi, Lonza, FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Merck KGaA, General Electric Company, uniQure N.V., Oxford BioMedica, Spark Therapeutics, Inc., FinVector Vision Therapies, Cobra Biologics, Brammer Bio, Cell and Gene Therapy Catapult, REGENXBIO Inc., and Kaneka Eurogentec S.A. among others.

Industry/Innovation/Related News:

February 04, 2019 ---- SIRION BIOTECH GmbH (Germany), a leading global company providing the most comprehensive viral vector production and customization services announced its expansion in North America, hosting a Bavarian-themed grand opening event at the Forsyth Institute, the US to meet and mingle with the Cambridge gene therapy scene.

During the event, SIRION also mentioned that Gene therapy has seen robust clinical advancement and Sirion is becoming a preferred partner in this growing sector.

January 28, 2019 ---- SIRION BIOTECH GmbH (Germany), a leading global company providing the most comprehensive viral vector production and customization services announced its partnership with Denali Therapeutics to support local gene therapy research and clinical development with viral vector contract manufacturing. The licensing agreement is about developing a new generation of adeno-associated virus (AAV) vectors.

This ground-breaking licensing agreement (collaboration) is expected to help Denali Therapeutics to increase the availability of protein therapeutics and to quickly enter clinical trials with safe, efficient, and scalable therapeutic candidates.

While, this partnership with Denali, will help Sirion to send its CNS-directed AAV-based gene therapies to the market in the fastest way possible, providing advanced treatment options to millions of patients, worldwide.

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Global Genitourinary Drugs Market 2020 Industry Key Players, Trends, Sales, Supply, Demand, Analysis & Forecast By 2027

 The global genitourinary drugs market is accounted for USD 28,200 million expected  and expected to register CAGR ~1.65% during the forecast period (2018–2023).

Genitourinary disorders are caused by damage to urinal or genital part of the human body. Kidney, bladder, ureter and urethra are parts of genitourinary system, genitourinary drugs are used to treat the  medical complications caused to these parts. The rising prevalence of genitourinary disorders, increasing number of pipeline drugs, and technological advancement in genitourinary diagnosis are expected to drive the growth of the market. According to the U.S. National Library of Medicine more than 480 clinical trials are lined up for treatment of urinary tract infection.

Health Information Center, Moreover, rising R&D spending and collaborative strategies adopted by the top players such as licensing and agreements are contributing to the growth of the market. For instance, in October 2018, Novartis AG signed a licensing agreement with Boston Pharmaceuticals for manufacturing and marketing of its three anti-infective products LYS228, IID572, and MAK181.

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The increasing emergence of counterfeit drugs, rising generics drug competition, and high number of patent expirations may hamper the growth of the market during the assessment period.

Regional Analysis

The market in the Americas is expected to dominate the global genitourinary drugs market during the forecast period owing to the rising prevalence of genitourinary disorders, increasing cancer patients in the region, rise in healthcare expenditure, and the presence of a well-established healthcare system. The European market is expected to be the second-largest due to the government initiatives for the development of healthcare sector, increasing research and development activities in the region and rise in number of chronic disorders. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing geriatric population, rising investments in healthcare sector and favorable government policies. The market in the Middle East & Africa is likely to account for the smallest genitourinary drugs market share. The market growth in this region can be attributed to increasing healthcare expenditure and growing medical tourism.

Segmentation

The global genitourinary drugs market has been segmented on the basis of disease, product, and end-user.

The market, by disease, has been classified as urinary tract infections, erectile dysfunction, urinary incontinence & overactive bladder, kidney/renal cancer, genitourinary cancer, bladder cancer, bladder cancer, cervical cancer, sexually transmitted diseases, interstitial cystitis, hematuria, ovarian cancer, and prostate cancer.

On the basis of product, the market has been segregated into urologicals, hormonal therapy, gynecologicals, and anti-infectives.

The end-user segment has been divided into, hospitals, clinics, super specialty centers, and others.

Key Players

Some of the key players in the global genitourinary drugsmarket are Bayer AG,AstraZeneca ,Abbott,Astellas Pharma Inc.,Pfizer Inc.,Eli Lilly and Company,Genentech, Inc.,Immunex Corp. GlaxoSmithKline plc., Ionis Pharmaceuticals, Inc.,Merck & Co.,Bristol-Myers Squibb Company,Antares Pharma,and  Novartis AG

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Neuroprosthetics Market Analysis and Value Forecast Snapshot by End-use Industry 2020-2027

 The global neuroprosthetics market was estimated USD 5.28 billion in 2016 and expected to reach USD 10.48 billion by 2023 at a CAGR of 12.4% from 2018 to 2023.

Neuroprosthetics are medical devices that are developed in such a way that provide signal to the central nervous system and receive indications from the external environment. These devices are used in neural diseases such as Epilepsy, Parkinson’s disease, Visual Prosthetics and many more.

The factors responsible for the positive growth of this market are increasing prevalence of neural diseases, over active bladder syndrome, and chronic disorder which include epilepsy.

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However, factors such as, low acceptance of neuroprosthetics treatment devices due to its high cost, and low awareness about the devices may restrict the market growth during the forecast period.

Segmentation:

MRFR segments the global neuroprosthetics market by type, technology, applications, and end-users to have an in-depth analysis.

Based on the type, the neuroprosthetics market can be segmented into output neural prosthetics and input neural prosthetics. The output includes cognitive prosthetics and motor prosthetics. The input comprises a cochlear implant and visual prosthetic.

Based on the techniques, the neuroprosthetics market can be segmented into vagus nerve stimulation, sacral nerve stimulation, deep brain stimulation, and spinal cord stimulation.

Based on the application, the neuroprosthetics market can be segmented into physiological disorders, motor neuron disorders, and cognitive disorders. The motor neuron disorders segment includes Parkinson’s disease and Epilepsy disorder. The physiological disorders segment comprises ophthalmic disorders, auditory processing disorders, cardiovascular disorders, and urology disorders. The cognitive disorders segment is based on Alzheimer’s disease, paralysis, and severe depression.

Based on the end-users, the neuroprosthetics market can be segmented into hospitals and clinics, diagnostic centers, research centers, and others.

Regional Analysis:

MRFR regionally segments the neuroprosthetics market into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

North America’s market dominance can be attributed to researches regarding the prevalence of neural diseases such as Epilepsy and Parkinson’s disease. Patient number, diagnosed with Parkinson’s disease, is quite high and is triggering the inflation of the neuroprosthetics market in the region.

Europe stands second in terms of the value of the neuroprosthetics market share. The region, with a robust healthcare sector, gets fund in research and development regarding neuroprosthetics from both governments and private investors.

The APAC market is expecting high growth during the forecast period owing to the vast patient pool present in the region. Cognitive disorders and other neurological problems are present in a considerable number to boost the market. The regional market is gaining momentum from the revamped healthcare sector and the strategic decisions of various market players of investing in the region. The number of patients suffering from Alzheimer is also quite high which is providing traction to the market. 

Competitive Landscape:

MRFR published the report on neuroprosthesis market with focus on market players such as Cochlear (Australia), Abbott (US), Neuropace (US), Medtronic (US), Boston Scientific (US), Sonova (UK), Livanova (UK), Med-El (UK), Retina Implant (US), Nevro (California), Second Sight (US), and others.

In 2018, researchers from the EPFL's School of Engineering had developed a nerve-on-a-chip platform with the ability to stimulate and record information from explanted nerve fibers. Its working is quite similar to that of implanted neuroprosthetic. The technology integrates microchannels embedded with electrodes. The explanted nerve fibers mimic the operational methods of in vivo tissue.

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Nuclear Medicine Market: Opportunities and Forecast Assessment, 2020-2027

 Market Research Future (MRFR)’s report highlights that the global nuclear medicine market is likely to strike a CAGR of 6.2% during the forecast period 2018 to 2023. The valuation of the market is expected to witness a growth of USD 5.430 Bn by the end of 2023. The growth of the market is dictated by increasing incidences of target conditions such as Cardiovascular Diseases (CVD) and cancer. Furthermore, the exponentially growing geriatric population is poised to add to the patient pool. The rising inclination towards the use of radiopharmaceuticals for the treatment of geriatric population is prognosticated to generate significant demand for nuclear medicines in the foreseeable future.

The market looks lucrative and is expanding at a significant pace. It is anticipated to witness constant growth over the next couple of years owing to increasing applications, discoveries, etc. Nevertheless, the expensiveness of the radiopharmaceuticals and side effects related to radiation exposure remain impediments to the market proliferation.

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Market Insights

Nuclear Medicine is a branch of medicine which uses radioactive substances in small amounts for diagnosis and treatment of various diseases. Nuclear medicine can be used for the treatment of various conditions including blood disorder, and some cancers and use vastly different imaging technologies than those used in traditional imaging as they show physiological function of the particular system making it a more targeted method of imaging. Market Research Future's report on the global nuclear medicine market divulges a number of vital figures and facts about the market. In 2017, the market was valued at USD 3.785 Bn in 2017 and is projected to grow at a CAGR of 6.2% over the review period. With the rapid expansion of advanced medical technologies, the market is expected to grow at a consistent upward trend to approximate market value of USD 5.430 Bn by the end of 2023.

Nuclear medicine offers precise diagnostic abilities and is useful in the early detection of cancer as well as other diseases such as cardiovascular disorders. The increasing prevalence of cancer and other chronic diseases and a high demand for early diagnosis of such diseases for effective treatment is a significant driver of the global market. Moreover, increasingly radiopharmaceuticals are being used for the diagnosis or treatment of chronic diseases in geriatric patients. The rapid expansion of this demographic is expected to encourage the growth of the market. The WHO has recorded astounding figures regarding the prevalence of cancer at nearly one out of every six deaths, making it one of the most significant causes for patient mortality, thus increasing the demand for nuclear medicine.

The promising future of the global nuclear medicine market is threatened by the high costs of radiopharmaceuticals which makes treatment unaffordable. Although it has not been proven to be distinctly harmful, erring on the side of safety has made patients wary of adopting nuclear medicine due to the side effects associated with exposure to radiation. However, market opportunities are expected to mitigate these threats to growth. Radioisotopes are witnessing increased usage for diagnostics and therapeutics as they offer the potential for learning medical information that is otherwise unobtainable. They have a wide range of applications in medical research which range from observing metabolic processes to tracing drug movement in biological systems.

Market Segmentation

MRFR has conducted a detailed study of the various parts of the nuclear medicine market which has been segmented on the basis of product type, application, end-user, and region. By product types, the nuclear medicine market has been segmented into diagnostic nuclear medicine and therapeutic radiopharmaceuticals. At present, the diagnostic nuclear medicine segment has attained a leadership position. However, the therapeutic radiopharmaceuticals segment is the fastest growing segment during the forecast period. The diagnostic nuclear medicine segment is segmented further into SPECT radiopharmaceuticals, and PET radiopharmaceuticals. Meanwhile, the therapeutic radiopharmaceuticals segment is sub-segmented into alpha emitters, beta emitters, and brachytherapy isotopes.

Applications of nuclear medicine are segmented into diagnostic applications and therapeutic applications. Diagnostic applications is a major segment which is sub-segmented into SPECT applications and PET applications. Meanwhile, the therapeutic applications segment is growing at the fastest pace.

End-users have been segmented into hospitals & diagnostic centers, research institutes, and others. Research institutes display the highest potential for growth over the forecast period, while hospitals & diagnostics centers have been identified as the most significant segment in terms of market share.

All sub-segments have been segmented further and included in the report.

Regional Analysis

The Americas due to the presence of North America has established itself as a market leader. The presence of several important market players combined with the high prevalence of cancer and other chronic diseases has influenced the growth of the Americas nuclear market. The region, particularly countries such as U.S & Canada have well-developed healthcare sectors which receive high investments. Moreover, the region has a high geriatric patient population which is expanding rapidly and is growing increasingly aware regarding advanced therapies.

Key Players

Eminent market participants that have been included in MRFR’s report include Jubilant Lifesciences, Lantheus Medical Imaging, Mallinckrodt Pharmaceuticals, Medtronic plc, Bayer AG, Advanced Accelerators Applications, Nordion Inc., Cardinal Health, Bracco Imaging, Curium, and GE Healthcare.

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Bleeding Disorders Treatment Market to Witness Widespread Expansion During 2020-2027

 The Global Bleeding Disorders Treatment Market is expected to register a growth of significant CAGR 10.0% during the forecast period (2018–2023).

A bleeding disorder is a condition where there is a problem with the body’s clotting method. This disorder leads to heavy and protracted bleeding after an injury. The bleeding process can also start on its own. Most of the types of bleeding disorders are hereditary but some are acquired due to liver diseases, side effects of certain medications, low red blood cell count, vitamin K deficiency and others. The global bleeding disorders treatment market is expected to witness fast growth during the forecast period due to growth in the number of people suffering from liver diseases, anemia, and other blood coagulation disorders.

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The global bleeding disorders treatment market is seeing a rise due to growth in the number of diagnosed patients with bleeding disorders, rising research and development activities and investments by key players growth in awareness about bleeding disorders especially hemophilia and positive government initiatives in the developed countries towards establishing a wide network of diagnosis and treatment centers complementing the market growth. However, the absence of access to proper treatment due to the high cost of medication and the shortage of skilled health professionals hinders the growth of the market.

Market Potential and Pitfalls

With the growing number of people suffering from anemia, liver diseases, and other blood coagulation disorders, the global market for bleeding disorder treatment is estimated to flourish. Factors such as increased number of diagnosed patients with bleeding disorders, high investments by the major market giants, augmenting R&D activities, and increasing awareness associated with bleeding disorders especially hemophilia. Additional factors gearing up the market growth are the government initiatives in developed economies in order to establish a large network of diagnosis and treatment centers. The market is largely driven by augmenting awareness regarding bleeding disorders and its available treatments, large customer base, and favorable compensation policies. Patent expiry of the existing brands is also likely to offer generic drug manufacturers an opportunity to enter the lucrative market. The market is majorly focused on western countries of the European and the North American region due to the high prices of the branded drugs. Low cost of drugs will allow market penetration in the developing and under-developed countries, where patients are unable to afford high-cost medication. Therefore, cheap generic drugs are likely to boost the market growth in the regions of Latin America, the Middle East, and the Asia Pacific.

On the contrary, the absence of access to proper treatment owing to the shortage of skilled healthcare professionals and high medication costs are some of the top barriers considered to vitiate the market growth in the coming years.

Global Bleeding Disorders Treatment Market: Segmental Analysis

The global bleeding disorders treatment market has been segmented on the basis of type, treatment, drug class, and end users.

By mode of type, the global bleeding disorders treatment market has been segmented into hemophilia B, hemophilia A, Von Willebrand Disease (vWD), and others.

By mode of drug class, the global bleeding disorders treatment market has been segmented into global recombinant coagulation factor concentrate market, plasma-derived coagulation factor concentrates market, and global others bleeding disorders treatment market. Among these, the recombinant coagulation factor concentrates segment is likely to occupy the largest market share owing to the increasing R&D investments for manufacturing and development of recombinant products by the major market players.

By mode of treatment, the global bleeding disorders treatment market has been segmented into hormone replacement therapy, desmopressin (DDAVP), anti-fibrinolytic/clot-stabilizing drugs, contraceptives, drugs applied to cuts and pipeline analysis (phase I, phase II and phase III clinical trials), and fibrin sealants.

By mode of end-users, the global bleeding disorders treatment market has been segmented into clinics, hospitals, research institutes, specialty clinics, and others.

Regional Insights

Geographically, the global bleeding disorders treatment market span across regions namely, Europe, America, Asia-Pacific, and the Middle East and Africa.

Among all the regions, the North American region is predicted to occupy the largest market share. The growth is credited to the early adoption of advanced medical technologies, and constant development by the major companies operating into the drugs. As per the Hemophilia Federation of America, more than 20,000 people are affected by hemophilia.

The European region occupies the second largest bleeding disorders treatment market share in the global market owing to factors such as advancement of technology, augmenting expenses in research, the necessity for effective and innovative therapies, and the decline in human health. As per Statista, approximately 149,764 people were diagnosed with hemophilia A. More than 10,811 people were diagnosed with other platelet disorders in 2016.

The Asia-Pacific region is likely to experience significant growth in the coming years owing to access to optimal treatment facilities. Additional factors gearing up the market growth are augmenting demand for government initiatives, high adoption rate, advanced technology, and increasing expenditure on healthcare. For instance, as per the annual report survey of 2015 provided by the World Federation of Hemophilia, around 17,346 million people are suffering from hemophilia.

Meanwhile, the Middle East & Africa occupies the smallest share owing to an underdeveloped healthcare sector, poor medical facilities, and a dearth of technical knowledge.

Industry Updates

February 07, 2019: Roche has recently announced that it has joined the World Federation of Hemophilia Humanitarian Aid Program. They have taken the initiative in order to change the lack of access to treatment and care for people suffering from inherited bleeding disorders in developing countries.

Competitive Dashboard

The prominent players operating the global bleeding disorders treatment market are BDI Pharma, Bayer Pharmaceuticals, Ferring Pharmaceuticals, Pfizer Inc., Grifols, Shire Plc, Biogen Idec, Octapharma, CSL Behring, Sun Pharmaceutical Industries Ltd., Novo Nordisk A/S, and others.

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Medical Payment Fraud Detection Market Analysis, Segments, Growth and Value Chain 2020-2027

 Global Medical Payment Fraud Detection Market Analysis expected to hold a value of USD 5786.44 Million by 2027 and is expected to register a growth of 25.2% from 2020 to 2027.

Market Synopsis

Medical fraud is increasingly apperceived as one of the social concerns. Healthcare fraud varies, but generally, it involves filing dishonest health claims for profit. The combination of fear loosened healthcare regulations, and expected stimulus payments in response to the COVID 19 pandemic could unleash an unprecedented surge of healthcare scams and fraud. The rising number of patients opting for health insurance, increasing pressure of fraud, and abuse on healthcare spending are the key factors that are expected to drive the market growth. For instance, according to the Centers for Disease Control and Prevention, 2018, report, 65.1% of people under the age of 65, in the US opted for private healthcare insurance. Moreover, a large number of fraudulent activities, rising healthcare expenditures, and growing pressure to increase operational efficiency and reduce healthcare spending are also expected to boost market growth.

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Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market in 2020, owing to the increasing number of patients opting for health insurances. For Instance, according to the Centers for Disease Detection and Prevention, in 2018 report, 25.5% people under age of 65 opted for public health insurance in the United States. The medical payment fraud detection market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European medical payment fraud detection market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, Italy, Spain, the UK and the rest of Western Europe. The medical payment fraud detection market in Asia-Pacific has been segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. Due to large number of fraudulent activities, the market in Asia-Pacific is expected to be the fastest-growing. The medical payment fraud detection market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

Global Medical Payment Fraud Detection Market has been segmented based on the Type, Component, Delivery Model, Source of Services, and End User.

Based on Type, the global medical payment fraud detection market has been segmented into descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics forms the base for the effective application of predictive and prescriptive analytics.

On the basis of components, the market has been segmented into services and software. Software fraud detection is expected to hold a major market share.

Based on the delivery model, the market has been segmented into on-premise and cloud-based. The cloud-based fraud detection market is expected to gain traction during the forecast period.

On the basis of the source of service, the market has been segmented into in-house and outsourced.

The market based on end-user has been segmented into private insurance payers, public/ government agencies, and third-party service providers.

Key Players

Some of the key players in the global medical payment fraud detection market are LexisNexis Risk Solutions (US), International Business Machines Corporation (US), Optuminsight (US), OSP Labs (India), DXC Technology Company (US), UnitedHealth Group (US), SAS Institute (US), Fair Issac Corporation (US), EXL Service Holdings, Inc. (US), CGI GROUP (Canada).

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Impact of Existing and Emerging Global Interventional Cardiology Market Trends And Forecast 2020-2027

 Interventional Cardiology Market Forecast

Global Interventional Cardiology Market held a value of USD 15,130.75 Million in 2018 and is expected to register a CAGR of 7.25% during the assessment period of 2019 to 2025.

Interventional Cardiology Market Synopsis

Interventional cardiology deals with the catheter-based treatment of heart diseases. Scrutinizing all the global territories, it has been noticed that there is a huge rise in the number of cardiac diseases. This can be attributed to the change in lifestyle, leading to lifestyle diseases. Each year cardiovascular diseases cause 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).

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In addition to that, the rise in the number of clinical trials of devices for use in interventional cardiology procedures is set to propel the growth of the market. For instance, in August 2018, B. Braun Melsungen AG announced that its drug-coated balloon ‘SeQuent Please’ for percutaneous transluminal coronary angioplasty showed positive results in the BASKET-SMALL 2 clinical trial. Moreover, the trend of bioresorbable stents going to contribute substantially to the growth of the market. For instance, in February 2019, Biotronik was granted approval from the FDA for its a drug-eluting stent system which is ultrathin and bioabsorbable for the treatment of patients with coronary artery disease.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas held maximum share in the base year 2018, owing to the high incidence rates of cardiac disorders and strategic activities by major players in countries such as the US. The interventional cardiology market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European interventional cardiology market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The European market for interventional cardiology is expected to hold a substantial Interventional Cardiology Market share owing to the increase in the number of cardiac disorder cases. For instance, in 2016, there were 66,076 deaths due to coronary heart diseases in the UK, which was the third-highest cause of death in that particular year. The interventional cardiology market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The interventional cardiology market in this region is anticipated to be the fastest-growing during the forecast period due to the increasing uptake and adoption rate of newer treatment options by patients as well as medical professionals. The increasing patient pool and mortality rate due to cardiac diseases in these countries also fuel the market growth. For instance, in 2017, ischemic heart disease was the second-highest cause for death in Japan. The interventional cardiology market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The Global Interventional Cardiology Market has been segmented based on Type, and End User.

The market, based on type, has been segmented into stents, percutaneous transluminal coronary angioplasty (PTCA) catheters, plaque modification devices, coronary guidewires, and accessories. The market, based on stents, has been further divided into drug-eluting stents, bare-metal stents, and bioresorbable vascular scaffolds. The stents segment held a major share in 2018 owing to the increased number of product launches by key players in the current years. This segment is also expected to be the fastest-growing segment during the forecast period due to the increasing prevalence of coronary artery disease, and continued innovations by players. The market, based on PTCA catheters, has been segmented into balloon catheters, and guiding catheters.

The Global Interventional Cardiology Market has been segmented, based on end-user, into hospitals, cardiac catheterization laboratories, ambulatory surgical centers, and others. In 2018, the hospital's segment held the majority share of the market owing to the increasing number of patient admissions due to coronary diseases. The cardiac catheterization laboratory segment is projected to be the fastest-growing segment owing to the increasing preference of cath labs by medical professionals.

Key Players

Some of the Key Players in the Global Interventional Cardiology Market are ABIOMED (US), Abbott (US), ACIST Medical Systems, Inc. (the US), B. Braun Melsungen AG (Germany), BD (US), Biosense Webster, Inc (US), Biotronik SE & Co. KG (Germany), Boston Scientific Corporation (US), Cardinal Health (US), Cook Medical (US), Edwards Lifesciences Corporation (US), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Life Vascular Devices Biotech S.L. (Spain), Medtronic (Ireland), Merit Medical Systems, Inc (US), Terumo Corporation (Japan), and W. L. Gore & Associates, Inc. (US).

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