Fractional Flow Reserve Market worth $1,081.8 million by 2024 – Abbott (US), Boston Scientific (US) are Leading Key Players

PUNE, India, 2021-May-15 — /EPR Network/ — The 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”, 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.

The Fractional flow reserve is a measurement for the evaluation of the functional significance of stenosis in the epicardial coronary artery. Fractional flow reserve (FFR) is calculated by using the distal coronary pressure of the stenosis divided by the aortic pressure during maximal hyperemia. FFR is considered as a gold standard to assess whether particular stenosis is responsible for inducible ischemia.

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The invasive monitoring segment to account for the largest market share during the forecast period

Based on technology, the fractional flow reserve market is segmented into invasive and non-invasive monitoring. The invasive monitoring segment accounted for the largest share of the market in 2018 and will continue to do so during the forecast period. Invasive FFR monitoring is considered the gold standard for determining the hemodynamic impact of coronary lesions. This technology utilizes pressure guidewires and monitoring systems for the measurement of fractional flow reserve. The pressure guidewire measures the flow and pressure of the blood before and after the blockage to produce a ratio.

Geographical View in-detailed:

North America dominated the FFR Market. The large share of the North American 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.

Global Key Leaders:

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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Abbott (US) held the leading position in the FFR Market. The company acquired a significant share in the FFR market through the acquisition of St. Jude Medical (US). This acquisition positioned Abbott as a major cardiology devices provider. The strategic acquisition of St. Jude Medical, a leading player in the cardiovascular and neuromodulation products market, strengthened the position of Abbott in the fractional flow reserve market. Abbott focuses on continuous expansions to achieve optimal growth across industries and different geographic areas. It strives to maintain its position through innovation and product launches. For instance, the company invests a significant amount of its revenue in R&D activities to increase its presence in the market. It invested USD 2.30 billion, USD 2.26 billion, and USD 1.42 billion on R&D in 2018, 2017, and 2016, respectively

Boston Scientific (US) holds the third-leading position in the fractional flow reserve market. The company provides a broad range of products in the interventional medical specialty market. The company markets its products to hospitals, clinics, outpatient facilities, and medical offices across the globe. It also has manufacturing, distribution, and technology centers worldwide. The company focuses on expanding into high growth adjacencies, driving global expansion, and developing key capabilities. Through these strategies, Boston Scientific aims to accelerate profitable revenue growth and increase stockholder value while strengthening its leadership position in the medical device industry. Additionally, the company’s R&D is focused on developing next-generation and novel technology offerings across multiple programs and divisions.