The global fractional flow reserve market is expected to witness significant growth over the forecast period. The increasing prevalence of coronary artery diseases (CAD) and different kinds of cardiovascular diseases (CVD) such as stable and unstable angina, myocardial infarction are expected to accelerate the growth of this market in near future. According to WHO report, there will be approximately 19 million deaths worldwide due to CVD by 2022.
On the basis of products, the market is segmented into FFR guidewires and FFR monitoring systems. Initially, there were very few companies who used to manufacture the FFR systems but due to the growing demand for healthcare IT, many companies are coming up with new FFR systems and waiting for FDA approval. For instance in July 2014, Boston Scientific launched FFR capable intravascular ultrasound imaging system (IVUS). They also announced a partnership with ASAHI INTECC CO., LTD. in order to develop a new FFR wire system. Moreover, in June 2018, Opsens Inc. received FDA clearance for OptoMonitor and OptoWire FFR systems.
On the basis of application, the fractional flow reserve market is segmented into multi-vessel disease and. single-vessel disease. In multi-vessel disease, more than two coronary arteries are affected with atherosclerosis and in single-vessel as the name suggests, only one coronary artery is involved. Fractional flow reserve (FFR) helps to determine the requirement and the most suitable way for revascularization in case of vessel diseases. For instance, in October 2017, ACIST medical systems launched ACIST RXi Mini System with an advanced mounting configuration which will maintain the wire position and the pressure drift throughout the process.
North America held the largest market share for the fractional flow reserve market. Increasing incidence of CVD and CAD make this continent a major contributor for this market. According to WHO report in 2017, about 630,000 people die from the heart disease each year in this region. U.S. healthcare is reforming by cutting the unnecessary medical cost and improving their healthcare IT and it is found to be one of the main reason for the market growth. Moreover, as per U.S. electronic medical record 2018, treatment with FFR was covered by Medicare insurance and this is further growth propellers for this market. Asia Pacific regional market is anticipated to witness lucrative growth over the forecast period due to the emerging economy and untapped opportunity in the healthcare field.
The fractional flow reserve market is consolidated in nature and dominated by few companies such as Philips, Abbott, Boston Scientific and Opsens. But nowadays, new companies are emerging in the market with new strategies such new product launch, merger, and acquisitions, regional expansion etc. For instance, in August 2014, ACIST medical systems made an agreement with Medtronic in order to co-promote their new RXi FFR systems. Moreover, in December 2017, Philips healthcare acquired Volcano in a probe to expand its FFR portfolio. This shows the potential for FFR market growth in coming years.
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