Interventional Vascular Consumables Market: Current Analysis and Forecast (2021-2027)

The interventional vascular consumables market is expected to register a CAGR of around 4% over the period of 2021-2027. Interventional is a technique or a specialist in minimally invasive treatment that uses radiographic images to guide the procedure. Vascular and interventional radiologists specialize in the use of imaging techniques such as x-rays and MRI, as well as catheter-based procedures for diagnosing and treating many diseases. The growing adoption of interventional vascular consumables can be attributed to the rising prevalence of various cardiovascular diseases coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly is expected to double again by 2050 and reach nearly 2.1 billion worldwide. The occurrence of cardiovascular diseases is almost 15% higher in the elderly population as compared to the younger population and the increase in this population is expected to increase the number of cardiovascular diseases around the world. Furthermore, factors such as increasing technological advancement, rising demand for minimally invasive procedures, and a large number of ongoing research activities in this field are also boosting the interventional vascular consumables market globally.

Based on type, the market is classified into coronary and peripheral. Amongst types, the coronary category accounted for a significant share of the market. This is mainly due to the growing case of coronary heart disease coupled with the growing geriatric population contributing to the growth of this segment.

Based on product type, the market is categorized into the catheter, guidewire, embolic protection device, inferior vena cava filter, sheath, vascular closure system, vascular patch, and vascular plug. Among these, the catheter is expected to witness the highest CAGR during the forecast period. Indeed, catheters are widely used to deliver drugs and other agents through a blood vessel to the site of intervention or to remove fluid from the body.

For a better understanding of the market adoption of interventional vascular consumables market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the interventional vascular consumables industry and generated major revenue in 2020 owing to the presence of well-established market players and the rising geriatric population in the region.

Some of the major players operating in the market include Boston Scientific Corporation, Medtronic plc, Abbott Laboratories, Terumo Corporation, Becton, Dickinson and Company, Cook Medical LLC, Merit Medical Systems Inc., B. Braun Melsungen AG, Heraeus Holding GmbH, and Johnson & Johnson