The Percutaneous Coronary Intervention Market size was valued at USD 7.98 Billion in 2022 and is projected to grow from USD 8.78 Billion in 2023 to USD 20.53 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.86% during the forecast period (2023 - 2032).
The percutaneous coronary intervention (PCI) market continues to evolve with technological advancements and increasing prevalence of coronary artery disease (CAD). With rising cases globally, demand for PCI procedures and related devices remains robust. Innovations such as drug-eluting stents, bioresorbable scaffolds, and advanced catheterization techniques enhance patient outcomes and procedural efficacy. Key players focus on research for safer and more effective devices, driving market growth. Moreover, a growing aging population, sedentary lifestyles, and dietary habits contribute to CAD incidence, expanding the market further. However, cost constraints, regulatory challenges, and alternative treatments pose potential barriers. Overall, the PCI market is poised for steady expansion amid dynamic healthcare landscapes.
Percutaneous Coronary Intervention (PCI), also known as percutaneous coronary angioplasty or percutaneous cardiac intervention, stands at the forefront of interventional cardiology, revolutionizing the treatment of coronary artery disease (CAD). As a minimally invasive procedure, PCI involves widening narrowed or obstructed coronary arteries to restore blood flow to the heart muscle. This technique has significantly transformed the management of CAD, offering patients a less invasive alternative to traditional surgical approaches.
The PCI market continues to witness substantial growth globally, driven by advancements in technology, increasing prevalence of CAD, and rising demand for minimally invasive procedures. With a focus on improving patient outcomes and reducing recovery times, medical device manufacturers are investing heavily in research and development to enhance PCI techniques and develop innovative devices.
Key players in the PCI market are leveraging cutting-edge technologies such as drug-eluting stents, bioresorbable scaffolds, and advanced imaging modalities to enhance procedural efficacy and patient safety. Additionally, the integration of robotics and artificial intelligence is poised to further revolutionize PCI procedures, enabling greater precision and efficiency.
As healthcare systems worldwide prioritize the adoption of minimally invasive techniques, the PCI market is anticipated to experience sustained growth in the coming years. With a growing aging population and increasing prevalence of CAD risk factors such as obesity and diabetes, the demand for PCI procedures is expected to remain robust, driving market expansion and innovation in the field of interventional cardiology.
Market Segmentation
The MRFR report provides a complete segmental analysis of the percutaneous coronary intervention market report based on end user as well as product type.
Based on product type, the percutaneous coronary intervention market share is segmented into accessories, coronary guidewire, PTCA catheters, and coronary stents. Of these, the coronary stents segment will have the largest share in the market over the forecast period. This is chiefly due to the introduction of new products in this market.
Based on end user, the percutaneous coronary intervention market is segmented into research & academic institutes, ambulatory surgical centers, hospitals and specialty clinics, and others. Of these, the hospitals and specialty clinics segment will dominate the market over the forecast period. This is due to the higher availability of experts required for performing the procedure coupled with a higher footfall of patients in hospitals.
Regional Analysis
By region, the percutaneous coronary intervention market share report covers the latest trends and growth opportunities across Europe, the Asia Pacific (APAC), the Americas, and the Middle East and Africa (MEA). Of these, the Americas is expected to dominate the market during the forecast period due to the increasing acceptability of percutaneous coronary intervention methods and growing awareness.
Europe is projected to have the second-largest share in the market during the forecast period. This is owing to the growing number of hospitalizations for percutaneous coronary intervention methods such as cerebral angioplasty and carotid artery angioplasty.
Recent Development:
Oct 2023 In recognition of its simplicity, Medtronic gave its next-generation continuous glucose monitor (CGM) the moniker "Simplera". After receiving the CE mark, the company is incredibly confident about the technology and has just started the system's introduction in Europe. For diabetics using multiple daily injections (MDI), Medtronic's all-in-one, disposable CGM has a straightforward, two-step insertion technique. Additionally, it no longer requires overtape thanks to its newest no-fingerstick sensor. To make managing diabetes easier, it easily interacts with the InPen smart insulin pen to provide individualized, real-time dose advice. The business timed the introduction of its products in Europe to coincide with the EASD's 59th Annual Meeting, which took place in Hamburg, Germany, earlier this month. Additionally, Dianaty feels that adding the InPen integration gives Simplera a new dimension that could take it beyond standard CGM technology.
Jan 2023 B. Braun, a renowned medical technology manufacturer, has chosen Cognite Data Fusion® as the foundation of its Manufacturing Data Management solution, according to Cognite, a prominent industrial software provider. B. Braun uses the Industrial DataOps platform from Cognite in conjunction with its expertise in the manufacturing industry to achieve operational excellence in production, upkeep, and sustainability. The Manufacturing Data Management system will offer a fully digital DevOps workflow to build, launch, and maintain a pipeline for company applications. To adhere to and extend the requirements for data modeling and to enable the evolution of those data models, Cognite Data Fusion® will integrate and explain every operational record from product development, technology, production, quality control, maintenance, EHS, and business applications into a single contextualized data layer.
Key Players
The percutaneous coronary intervention companies are Terumo Corporation (Japan), Merit Medical System (Utah), Meril Lifesciences Pvt. Ltd (India), Medtronic PLC (US), Cordis (US), Cook (US), Comed BV (Netherlands), C. R. Bard, Inc. (US), Boston Scientific Corporation (US), BIOTRONIK (US), Biosensors International Group, Ltd (Singapore), B. Braun Melsungen AG (UK), ASAHI INTECC Company Limited (Japan), and Abbott (US), among others. Key players are adopting different strategies to create a niche in the market, such as research and development, joint ventures, mergers and acquisitions, partnerships, product innovations and launches, collaborations, and more.
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