CHICAGO, April 30, 2019 /PRNewswire/ -- According to the new market research report "Fractional Flow Reserve Market by Technology (Invasive Monitoring, Non-invasive Monitoring), Invasive Monitoring Product (Pressure Guidewires, FFR Measurement Systems), Application, and Region - Global Forecast to 2024", published by MarketsandMarkets™, 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 (2019-2024).
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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 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.
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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.
North America held the largest share of the Fractional Flow Reserve Market in 2018
North America dominated the Fractional Flow Reserve Market in 2018. The large share of the North American Fractional Flow Reserve 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.
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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).
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