U.S. Cath Labs Market To Expand Industry Growth At USD 21.9 Billion By 2030

 San Francisco, 9 Feb 2023: The Report U.S. Cath Labs Market Size, Share & Trends Analysis Report By Component (Services, Equipment), By Facility Type (Independent Labs, Hospital-based Labs), And Segment Forecasts, 2023 - 2030

The U.S. cath labs market size is estimated to reach USD 21.9 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.34% from 2023 to 2030. The high incidence of heart disease in the U.S., the improving spending capacity of the residents, the growing number of therapeutic surgeries, and technological advancements are fueling market growth. In addition, the increasing preference for minimally invasive surgeries is expected to offer growth opportunities for the market.

The volume of heart disease diagnostics and surgeries performed is increasing in the U.S. As per the American Heart Association, more than 1 million catheterization surgeries are performed every year. The northeastern and southeastern regions in the U.S. have the highest hospitalization rates for heart disease patients. Michigan, Ohio, West Virginia, Alabama, Georgia, North Carolina, and Kentucky are the states having the highest hospitalization rates for heart disease as per the CDC. This indicates the high requirement for heart disease treatment and the huge accessibility to service in the U.S.

The COVID-19 pandemic resulted in a decline in the number of cardiac procedures as COVID-19 care was the primary focus wherein several cath labs were converted into intensive care units for COVID-19 patients temporarily. The cath labs also witnessed a shortage of medical devices due to disruption in the supply chain during the initial phase of the pandemic. Automated external defibrillators having application in cardiac diagnostic procedures were the equipment having the least supply during the pandemic. The later phase of the pandemic witnessed increased demand for services owing to the rise in heart disease resulting from inactivity during the pandemic.

Access Research Report of U.S. Cath Labs Market @ https://www.grandviewresearch.com/industry-analysis/us-cath-labs-market

U.S. Cath Labs Market Report Highlights

• Based on the component, the service segment held the largest share in 2022. This can be attributed to the increasing prevalence of cardiac diseases
• The diagnostic services are expected to witness higher demand as the federal government focuses on early diagnostics for preventing deaths due to heart disease by imitating awareness campaigns
• In the diagnostic services segment, cardiac catheterization accounted for the largest share in 2022. This can be attributed to the growing prevalence of heart attacks resulting from arterial blockages due to sedimentary lifestyle
• Based on facility type, hospital-based facilities dominated the market in 2022 owing to the increasing number of chronic and emergency cases and improved reimbursement for hospital-based labs. Hospitals are modernizing their existing cath labs and investing in hybrid laboratory integration to treat multiple conditions under one roof and increase profitability
• The 2022 reimbursement policy by the CMS focuses on a value-based program paying the service providers based on patient outcomes rather than quantity. This is resulting in enhancing the quality of patient care
• Mergers & acquisitions and collaborations are being preferred by the key players, enabling them to have a competitive edge by adding value to their services. For instance, in September 2022, Medtronic acquired a cardiac mapping company Affera, aiding the company’s diagnostic portfolio

List of Key Players in U.S. Cath Labs Market

• Koninklijke Philips N.V.
• Shimadzu Corporation
• GE Healthcare
• Johnson & Johnson
• Braun Melsungen AG
• Siemens Healthineers
• Medtronic
• Cardinal Health, Inc.
• Boston Scientific Corporation
• Abbott Laboratories

Access Press Release of U.S. Cath Labs Market @ https://www.grandviewresearch.com/press-release/us-cath-labs-market-analysis