19 December 2019
Visiongain’s new report the Fractional Flow Reserve Market Report 2019-2029: Forecasts by Technology [Invasive Monitoring (Pressure Guidewires, FFR Measurement Systems), Non-Invasive Monitoring], by Application (Single-Vessel Diseases, Multi-Vessel Diseases), plus analysis of leading companies operating in the global fractional flow reserve market.
The global fractional flow reserve market size was valued at $510 million in 2019 and is expected to generate market revenue of more than $2 billion by the end of 2029. Market growth is primarily attributed by increasing geriatric population in the U.S., European countries, and Japan. Additionally, the growing prevalence of cardiovascular diseases such as high blood pressure and coronary artery diseases will increase fractional flow reserve market expansion over the course of the period. According to the report of the American Heart Association on heart diseases, in 2018, cardiovascular disease accounted for more than 800,000 deaths in the United States.
Rising geriatric population in developed as well as developing economies is expected to increase penetration of chronic diseases and will encourage fractional flow reserve market over the coming years. According to the World Health Organization, the global population aged 60 years or more was more than 900 million in 2018, more than twice as large as in 1980 when there were 382 million older persons worldwide. The number of older persons is expected to double again by 2050 when it is projected to reach nearly 2.1 billion.
North America dominated the global fractional flow reserve market in 2019 by accounting more than 40% of the overall market share. Regional growth was primarily driven by the presence of well-established healthcare infrastructure and supportive government policies for healthcare penetration. Additionally, manufacturers operating in this region are adopting mergers & acquisitions and research & development strategies to increase market concentration and increase the customer base. For instance, in January 2017, Abbott Laboratories, a U.S. based healthcare company engaged in medical devices, nutrition products, generic pharmaceuticals, and diagnostics acquired St. Jude Medical, Inc., an American medical device company.
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