Asia-Pacific (APAC) and South America are expected to drive the percutaneous coronary interventions (PCI) market to $8.1bn by 2022, according to a report by GlobalData.
Titled “MediPoint: Percutaneous Coronary Interventions – Global Analysis and Market Forecasts”, the report states that countries such as Japan, China, Argentina, Brazil, and Chile will be major growth drivers in the PCI market over the forecast period.
Large population, higher economic growth and pricing structure make China and Japan the main targets for a majority of medical device manufacturers, whereas the PCI market in the US and Europe is anticipated to decline with healthcare providers taking measures for cost containment and reducing overstenting as medical costs continue to rise.
The PCI market in APAC is forecast to grow at a compound annual growth rate (CAGR) of 8.6% to exceed $5bn in value by 2022, according to Sheryl Tang, GlobalData’s Analyst covering Medical Devices, who attributes it to improvements in access to healthcare, awareness of minimally invasive cardiovascular procedures, and availability of new generation devices.
Three procedures namely standard balloon angioplasty, drug-eluting balloon angioplasty and coronary stenting will witness the highest growth in the APAC region over the forecast period.
Tang further states, “North America will see the reverse trend, with procedures declining slowly at a CAGR of -0.6%. This is primarily due to continued concerns with overstenting and stent-related complications. Procedure volumes in Europe, South America, and the Middle East and Africa will grow steadily, at CAGRs of 2.6%, 3.2%, and 0.3%, respectively.”