Chronic and acute circulatory illnesses are on the rise. According to the WHO, roughly, 17.9 million people die each year from CVDs, accounting for 32.0% of all the fatalities worldwide, including 655,000 in the U.S. alone. In fact, CVDs kill one out of every three women. Furthermore, people of various ages, nationalities, and socioeconomic levels are affected. The rising number of such chronic disease cases throughout the world is raising the need for interventional vascular operations.

In addition, the requirement for minimally invasive operations is increasing among the elderly since they are less uncomfortable, low-risk, and cost-effective and allow for a speedier recovery than open surgeries. Therefore, consumables such as catheters, embolic protection devices, and guidewires are in high requirement. Among these, the need for catheters is expected to rise significantly in the coming years. This is due to catheters' higher pricing relative to certain other consumables, their more-frequent usage, and the availability of many types of catheters.

Similarly, often, the blood vessels in the lungs can get blocked by an embolus. Therefore, an IVC filter, which is a type of vascular filter, is placed by interventional radiologists in the IVC to prevent blood clots from traveling with the blood into the lungs and causing a pulmonary embolism. Even though the condition arises in the pulmonary arteries, stopping the clot from passing through the IVC is important, in order to stop it from traveling through the chambers of the heart into the pulmonary artery.

For instance, Intact Vascular Inc., a U.S.-based manufacturer of medical equipment for minimally invasive peripheral vascular operations, reached a deal to be purchased by Koninklijke Philips N.V. (Philips) in August 2020. Phillips' image-guided therapy portfolio expanded by the merger of its interventional imaging platform, diagnostic, and therapeutic devices with the implantable devices of Intact Vascular Inc., with the aim to improve the treatment of people with peripheral artery disease (PAD).

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