Fractional Flow Reserve Market Worth $1,081.8 million | Growth Drivers, Recent Developments & Major Key Players

Fractional Flow Reserve Market

PUNE, India, 2020-Jun-24 — /EPR Network/ —

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.

Market Growth Driver:

Rising geriatric population and the subsequent growth in the prevalence of CVD;

Over the years, there has been a significant increase in the geriatric population across the globe. According to the UN World Population Ageing Report 2017, the global geriatric population (aged 60 years and above) is expected to reach 2.1 billion by 2050 from 962 million in 2017.

As this population segment is highly susceptible to CVD and other target diseases, the demand for advanced diagnostic and treatment options is expected to increase in the coming years. Changing lifestyle, smoking, hypertension, high blood cholesterol levels, physical inactivity, high BMI, and high blood sugar levels are the leading risk factors for heart disease and stroke. With the rising prevalence of CVD, the number of related diagnostic and treatment procedures is expected to increase significantly across the globe in the coming years. In this scenario, the demand for fractional flow reserve is likely to increase as it provides various benefits, such as assessing if the stenosis is required, which in turn helps in avoiding surgeries (in cases where stenosis is not needed).

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Market Segmentation in Depth:

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.

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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Recent Developments:

• In March 2019, the US FDA approved Abbott’s Resting Full-cycle Ratio (RFR) intravascular diagnostic test, a new type of fractional flow reserve (FFR)
• In January 2019, Opsens received CE mark certification for its diastolic pressure algorithm (“dPR”) Proprietary Resting Index.
• In March 2018, HeartFlow Inc. entered into a collaborative research agreement with the Imperial College London to work on joint projects in the areas of medical imaging and deep learning.

Geographical Regions Mapped in Report:

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.

Major Key Players Mentioned in the research report are:

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).