The Fractional Flow Reserve Market growth is largely driven by the increasing geriatric population and the subsequent growth in the prevalence of cardiovascular diseases, cost-benefits of FFR, and the presence of a favorable reimbursement scenario. Emerging economies are expected to present market players with a wide range of opportunities.
The Fractional Flow Reserve Market is projected to reach USD 1,082 million by 2024 from USD 516 million in 2019, at a CAGR of 16.0% during the forecast period.
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Market Segmentation:
The invasive monitoring segment accounted for the largest share of the market in 2018
On the basis of technology, the market is 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.
The pressure guidewires segment is expected to grow at the highest CAGR during the forecast period
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.
Recent Developments in Fractional Flow Reserve Market:
In 2017, Abbott acquired St. Jude Medical, Inc., one of the leading players in cardiovascular and neuromodulation products.
Abbott Laboratories is a healthcare company that develops, manufactures, and markets a broad and diverse range of health care products. The company operates through four business segments, namely, Established Pharmaceuticals, Diagnostic Products, Nutritional Products, and Cardiovascular and Neuromodulation Products. The company is present in Africa, Asia Pacific, Europe, Latin America, the Middle East, North America, and South America.
In 2017, HeartFlow, Inc. entered into an agreement with Royal Philips
Founded in 2007 and headquartered in California (US), HeartFlow is a personalized medical technology company seeking to transform the way cardiovascular disease is diagnosed and treated. The company provides Heartflow FFR-CT, the first available non-invasive solution that enables a physician to more accurately evaluate whether a patient has significant coronary artery disease (CAD) based on both anatomy and physiology. HeartFlow FFRct leverages deep learning to create a personalized 3D model of the patient’s arteries. Through this agreement, Philips will promote the use of the HeartFlow FFRct Analysis in conjunction with Philips’ advanced catheters for the imaging and assessment of a patient’s coronary arteries.
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North America is expected to hold the largest market share during the forecast period
North America is the major revenue-generating region in the fractional flow reserve market. The fractional flow reserve market in the region is driven by high healthcare spending in the region, rising prevalence of CVD and lifestyle diseases, growth in the geriatric population, a large number of ongoing research activities and product launches, availability of reimbursements, and the rapid adoption of technologically advanced imaging systems.
Key Questions addressed by the report:
• Which are the key players in the market, and how intense is the competition?
• Emerging countries present immense opportunities for the growth of Fractional Flow Reserve Market. Will this situation persist?
• Which product markets will dominate in the future?
• What are the challenges hindering the adoption of fractional flow reserve solutions?
The key players in the fractional flow reserve industry 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).
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