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(Health-NewsWire.Net, November 07, 2020 ) The study involved four major activities in estimating the current market size for fractional flow reserve market. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size.
According MarketsandMarkets Research - The Fractional Flow Reserve Market is projected to reach USD 1,081.8 million by 2024 from USD 516 million in 2019, at a CAGR of 16.0% during the forecast period.
The Key Factors Who will Drives the Market Growth?
- Rising Geriatric Population and the Subsequent Growth in the Prevalence of CVD
- Cost Benefit and Favorable Reimbursement Scenario
- Growth Potential in Emerging Economies
Growth Opportunity: Growth potential in emerging economies;
Emerging countries such as India and China are expected to offer potential growth opportunities for players operating in the fractional flow reserve market. More than half of the world’s population resides in India and China, owing to which, these countries are home to a large target patient base. Rapid economic growth and increasing disposable incomes in emerging markets are encouraging patients in these countries to spend on quality healthcare services, thereby helping players in the fractional flow reserve devices market to expand their presence in these emerging markets. Furthermore, regulatory policies in Asia are considered to be more adaptive and business-friendly due to the presence of less-stringent regulations and data requirements.
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Market Segmentation in Detailed:
Fractional flow reserve is a measurement for the evaluation of the functional significance of stenosis in the epicardial coronary artery. Fractional flow reserve (FFR) is calculated by using the distal coronary pressure of the stenosis divided by the aortic pressure during maximal hyperemia. FFR is considered as a gold standard to assess whether particular stenosis is responsible for inducible ischemia.
On the basis of technology, segmented into invasive and non-invasive monitoring technologies. In 2018, the invasive monitoring segment accounted for the largest share of the fractional flow reserve market. The large share of this segment can be attributed to the strong recommendation for FFR usage in coronary angiography.
On the basis of product, the invasive monitoring market is segmented into pressure guidewires and FFR monitoring systems. The pressure guidewires segment accounted for the largest share of the market in 2018. This can be attributed to the growth in the number of PCI procedures (as a result of the rising prevalence of CVD), strong recommendation for the use of guided revascularization by measuring FFR in specific clinical scenarios, and the single-use nature of pressure guidewires, which ensures repeat purchases.
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Worldwide Geographical Segmentation in-detailed:
North America dominated the fractional flow reserve devices market in 2018. The large share of the North American market can primarily be attributed to the high healthcare spending in the region, rising prevalence of CVD and lifestyle diseases, growth in the geriatric population, large number of ongoing research activities and product launches, availability of reimbursements, and the rapid adoption of technologically advanced imaging systems.
Major Key Players Mapped in Research Report:
The key players in the fractional flow reserve market are Abbott (US), Boston Scientific (US), ACIST Medical Systems (US), Koninklijke Philips N.V. (Netherlands), Opsens, Inc. (Canada), HeartFlow, Inc. (US), Siemens Healthineers (Germany), Pie Medical Imaging (Netherlands), CathWorks (Israel), and Medis Medical Imaging Systems BV (Netherlands)
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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