The North American market for interventional cardiology and peripheral vascular devices is expected to reach $5.9 billion by 2018, at a compound annual growth rate (CAGR) of 2.9% between 2013 and 2018.
Decreasing use of coronary angioplasties and an increasing number of peripheral interventions have significantly affected the surgical equipment market in North America, according to the new report from research firm MarketsandMarkets.
Other report findings were as follows:
- The bioabsorbable stent market will grow at a CAGR of 62.2%.
- The market for retrievable inferior vena cava (IVC) filters is expected to grow at a CAGR of 14.8%.
- Use of advanced diagnostic catheters, such as intravascular ultrasound (IVUS) and optical coherence tomography (OCT) catheters, is expected to grow at a faster pace in the coming years.
Companies active in this market include Abbott Laboratories, Cordis, Medtronic, Boston Scientific, and Covidien, MarketsandMarkets said.
