Nov 24, 2021 (AmericaNewsHour) -- Increasing Accessibility to Advanced Healthcare and Increasing Incidences of Cardiovascular Diseases (CVD) to Propel the Market Growth
On account of the rising incidence of cardiovascular diseases in countries such as Brazil, Mexico, Argentina and others, the Latin America interventional cardiology market has seen significant growth over the past few years. Poor dietary habits, elevated blood pressure, excess weight and obesity, and others are the factors that increase the risk of heart disease, strokes, and other CVD disorders. Latin America has witnessed a growing need for instruments used in percutaneous coronary surgery owing to an increasing number of people opting for innovative surgical procedures that shorten patients' admission time and reduce the aftereffects of operation. The region is heavily dependent on imports of medical equipment for cutting-edge technologies such as bare-metal stents and drug-eluting balloons used in heart surgery. Such factors are projected to drive the growth of the Latin American interventional cardiology market during the forecast period.
Research Nester has released a report titled "Latin America Interventional Cardiology Market: Demand Analysis & Opportunity Outlook 2030" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
The Latin America interventional cardiology market is expected to see substantial growth in the coming years on account of rising incidences of cardiovascular disease and increasing accessibility to advanced healthcare. The Latin America interventional cardiology market accounted for a market value of USD 717.32 million in 2019 and is expected to grow at a CAGR of 8.48% over the forecast period of 2021-2030. Leading companies are investing significantly in their research & development projects, which has enabled them to develop advanced solutions for interventional cardiology procedures.
The Latin America interventional cardiology market is segmented by application into coronary artery disease, peripheral artery disease, neurovascular disease and others. Coronary artery disease accounted for a market share of 44.56% in 2019 and expected to grow by a significant CAGR over the forecast period. This occurs when the arteries that supplies blood to the heart gets blocked. Currently, the neurovascular disease is one of the leading causes of death and disability in the Latin American countries. In this disorder, the arteries become narrow, which in turn decreases the flow of blood to the brain and increases the risk of a stroke. This has also led to the rise in demand for interventional cardiology products.
However, limited number of skilled cardiovascular surgeons to carry out interventional cardiology procedures and high risk of infection after the procedure are estimated to act as barriers to the growth of the Latin America interventional cardiology market during the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the Latin America interventional cardiology market which includes company profiling of Boston Scientific Corporation /zigman2/quotes/203726728/composite BSX -0.66% , Merit Medical Systems /zigman2/quotes/209183774/composite MMSI -3.04% , Biosensors International Group, Ltd., Terumo Europe NV, Medtronic /zigman2/quotes/206816578/composite MDT -0.10% , Cardinal Health (Cordis), BIOTRONIK SE & Co KG, and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "Latin America Interventional Cardiology Market - Demand Analysis & Opportunity Outlook 2030", analyses the overall Latin America interventional cardiology industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Latin America interventional cardiology market in the near future.
"The Final Report will cover the impact analysis of COVID-19 on this industry."
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