Global Cardiac Catheterization Market Overview
The rising geriatric population, abuse of alcohol, and mounting prevalence of cardiac diseases are also expected to propel the market growth for cardiac catheterization market. Expansive measures taken by many key market players is leading to higher penetration of cardiac catheters by these prime players. This poses as a leading driver for the global cardiac catheter market throughout the assessment period.
Cardiac catheterization is a procedure to test the functioning of the heart which helps in the detection and treatment of cardiovascular conditions. MRFR has published a report studying the global cardiac catheterization market. The report suggests that the cardiac catheterization market is likely to ascend at a CAGR of 9.2% through the forecast period. Various factors fueling the market growth for cardiac catheterization include the emergence of numerous technologically advanced devices and rising regulatory approvals from the government.
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Although the cardiac catheter market is likely to expand at an unparalleled rate, some factors are responsible for curbing the growth during the forecast period. The elevated cost of surgical procedures and catheters coupled with side effects associated with catheterization are estimated to refrain market growth. Simultaneously, the lack of proper healthcare infrastructure and cardiac diseases are also hindering the market growth to a great extent.
Detailed Regional Analysis
The global cardiac catheterization market is geographically segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The report suggests that North America is set to capture the largest market share for cardiac catheter market during the forecast period. This market domination can be attributed to the increasing prevalence of cardiovascular diseases amid the geriatric population, and the vulnerability towards hypertension. Additionally, obesity issues leading to heart diseases and disorders are also fueling the market growth for cardiac catheterization market through the assessment period. Increasing government initiatives to fund and encourage research, coupled with the rising demand for technologically advanced cardiac catheterization treatments are showcased to lead the market. Also, developments in advanced medical treatments are likely to propel market growth for cardiac catheters.
Europe is estimated to garner the second-largest market for cardiac catheterization, following North America. Owing to the rising healthcare expenditure and the availability of advanced treatment facilities along with supportive government initiatives for healthcare, Europe is likely to record a staggering growth rate by the end of the forecast period.
Asia Pacific (APAC) is projected to be a promising market for cardiac catheterization during the forecast period. Rising geriatric population with an alarming rise in the prevalence of cardiac disorders and diabetes is foreseen to drive the market to a great extent in the APAC. A rapid adaptation of the latest healthcare technology, government initiatives supporting the emergence of qualitative healthcare and favorable insurance are some factors further prompting growth in the cardiac catheterization market.
Some of the renowned front-runners of the cardiac catheter market include Coloplast (Denmark), Boston Scientific Corporation (US), Dispocard GmbH (Germany), St. Jude Medical (US), Becton, Dickinson and Company (US), Abbott (US), Teleflex Incorporated (US)., Johnson & Johnson Private Limited (US), Smiths Medical (US), Medtronic Inc (US), Edwards Life Sciences Corporation (US), Rochester Medical Corporation (U.S), Terumo Medical Corporation (Japan), and Maquet Medical India Private Limited (India).
The global cardiac catheter market has been studied for various segments in the MRFR report. These segmentations have been made based on types, applications, procedures, end-users, and region. By types, the global cardiac catheterization market is segmented into fractional flow reserve, intravascular ultrasound, coronary angiogram, and optical coherence tomography. On the basis of procedures, the global cardiac catheter market includes the segments of balloon septostomy, catheter ablation, bipolar pacing, coronary angioplasty, left heart catheterization, and right heart catheterization. Based on application, the global cardiac catheterization market is segmented into heart attack, coronary vasospasm, abnormal stress test, and cardiac arrhythmia. On the basis of end-users, the market for cardiac catheters is segmented into hospitals and clinics.
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The Adult Congenital Heart Association (ACHA) recently funded six research grants to carry forward the R&D in congenital heart disease (CHD) found in adults. This new ACHA program aims to simplify the lives of CHD patients and future generations, in collaboration with well-suited medical professionals.
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