Fractional Flow Reserve Market Growth & Trends
The global fractional flow reserve market size is expected to reach USD 1.20 billion by 2026, according to a new report by Grand View Research, Inc. expanding at a CAGR of 10.4% over the forecast period. widening base of cardiovascular diseases coupled with mounting cases of diabetes in developed as well as developing economies is escalating the growth of the market. Furthermore, launch of novel devices in fractional flow reserve (FFR) market such as guidewires and monitoring systems are also anticipated to aid market growth. For instance, in May 2019, Philips launched IntraSight interventional applications platform. This platform offers comprehensive unit of IVUS, FFR, IFR and co-registration modalities to speed up the routine procedures and simplify complex interventions.
In an independent study by SCAI, in 2019 it was observed that FFR possess the capability to decide the treatment plan for Acute Coronary Syndrome (ACS) which could be either PCI (Percutaneous Coronary Intervention) or CABG (Coronary Artery Bypass Grafting). This is anticipated to help the physicians and provide effective treatment plan to patients, thereby increasing adoption of the same in coming five years.
Moreover, consolidation activities, such as acquisition of St. Jude by Abbott in 2017 in order to increase its foothold in the cardiovascular devices market, is likely to keep the market highly competitive and thereby, augur well for the overall market.
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Fractional Flow Reserve Market Report Highlights
FFR monitoring systems accounted for significant share of over 40.0% in 2018 owing to the extensive usage in single and multiple vessel CAD.
FFR guidewires is expected grow at a profitable growth rate over the forecast period due to increase in fractional flow reserve procedures conducted globally.
North America held the significant share of FFR devices industry as of 2018, due to the increased investment in R&D by the medical device companies. For instance, a bill was approved by the U.S. congress in May 2018 via which an individual can try unproven medical aids comprising drugs, medications and devices in case of severe illness.
Asia Pacific regional FFR industry is anticipated to witness major growth due to rising healthcare spending and rise in diabetes cases in countries such as China and India.
Some of the key companies operating in the fractional flow reserve market are OPSENS Medical, Abbott Laboratories, Boston Scientific, and Bracco S.p.A. among others.
The industry participants are engaged in extensive research activities to develop novel FFR devices for diagnosis of cardiac disorders.