Cath Lab Procedures Flat, Gear Sales Aren't
While the number of cath lab procedures has reportedly leveled off, equipment purchases remain steady. This suggests health systems are prioritizing modernization and fleet expansion, likely in anticipation of more complex cases or a continued shift of procedures from hospitals to outpatient settings.
The ongoing migration of cardiac procedures to outpatient settings is a defining trend, with projections suggesting that by the mid-2020s, 33% of all cardiology procedures will occur in ambulatory surgery centers (ASCs), a significant increase from 2018. This shift is largely driven by the lower costs associated with ASCs, which benefit patients, physicians, and payers. It is anticipated that by 2030, over 80% of cardiovascular procedures currently performed in hospital outpatient departments could transition to ASCs. This move to outpatient care is underpinned by policy and reimbursement changes from the Centers for Medicare & Medicaid Services (CMS). CMS has progressively expanded the list of approved cardiology procedures for ASCs, including percutaneous coronary interventions (PCI) and, more recently, cardiac ablation. These changes provide financial incentives that make performing these procedures in an outpatient setting more viable for providers. In response, health systems are actively developing their ambulatory strategies, which include investing in and forming joint ventures for outpatient cardiac centers. The growth in this sector is rapid, with 26 new cardiology-focused ASCs announced or opened in 2024 alone. This expansion is creating a more competitive landscape and is also fueling consolidation as larger entities and private equity-backed groups acquire smaller practices. Despite a potential leveling of overall procedure volumes, the demand for advanced cath lab technology remains strong, with a notable increase in the adoption of hybrid labs, which are up by 33%. The global market for interventional cardiology devices is projected to grow, with one forecast anticipating an increase from $15.33 billion in 2025 to $26.63 billion by 2033. This growth is supported by technological advancements such as AI-assisted systems and 3D imaging, which are enhancing procedural accuracy. Key equipment manufacturers like Siemens Healthineers, Philips, and GE Healthcare are central to this market, controlling a significant portion of the global supply.
