The U.S. cath labs market size is expected to reach USD 24.3 billion by 2027, expanding at a CAGR of 5.3%, according to a new report by Grand View Research, Inc. The growing prevalence of cardiovascular diseases, the increasing number of coronary angiography performed each year, and the aging population prone to various heart problems, are the major factors driving the market. In addition, technological advancements and a growing preference for robot-assisted minimally invasive surgeries are other key factors propelling the growth of the market.
According to the American Heart Association (AHA), coronary artery disease affects 16.5 million Americans. The elective Percutaneous Coronary Intervention (PCI) is a commonly performed procedure in the U.S, with around 600,000 procedures performed each year. These procedures have the highest aggregate costs of all cardiovascular procedures, and PCI also has the third-highest aggregate cost of any surgical procedure, estimated at about USD 10.0 billion annually.
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U.S. Cath Labs Market Report Highlights
• The services segment dominated the market in 2019, attributed to a large number of patients seeking advanced diagnostic and treatment options for various heart diseases
• With the technological advancements, and integration and technology collaboration between the cath laboratory and the equipment providers, the equipment segment is expected to witness significant growth during the forecast period
• The therapeutics segment dominated the market in 2019, owing to increased patient preference for cath laboratory interventions, shorter hospital stays, smaller incisions at the site of surgery that reduces the risk of infection, less blood loss and transfusions, and other benefits
• Stent placement dominated the therapeutic services segment in 2019 attributed to the growing annual incidence of Percutaneous Coronary Interventions (PCI) in the U.S.
• Cardiac catheterization dominated the diagnostic segment attributed to the rising incidence of arterial blockage cases due to an unhealthy lifestyle in the region
• Hospitals based cath laboratories have a major share owing to the patient flow and the increasing chronic and emergency case-patients. Moreover, better reimbursement available for the interventions performed at the hospitals is also driving the segment growth. Hospitals are revamping their existing cath labs and funding hybrid laboratories integration for treating multiple conditions under the same roof and for increased profitability
• Mergers and acquisitions and technology collaborations are the main strategies followed by market leaders.
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U.S. Cath Labs Market Segmentation
Grand View Research has segmented the U.S. cath labs market on the basis of component and facility type:
U.S. Cath Labs Component Outlook (Revenue, USD Million, 2016 - 2027)
• Services
o Therapeutic
o Angioplasty
o Stent Placement
o Rotational Atherectomy
o Thrombectomy
o Cardioversion
o TAVR
o Others
o Diagnostic
o Angiography
o Coronary Intravascular Ultrasound
o Cardiac Catheterization
o ECG/EKG
o Fractional Flow Reserve (FFR)
o Others
• Equipment
U.S. Cath Labs Facility Type Outlook (Revenue, USD Million, 2016 - 2027)
• Independent
• Hospital-Based
List of Key Players of U.S. Cath Labs Market
• Koninklijke Philips N.V.
• Shimadzu Corporation
• GE Healthcare
• Johnson & Johnson
• B. Braun Melsungen AG
• Siemens Healthineers
• Medtronic
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.