US Interventional Cardiology Device Market Will Shrink by Three Percent Per Year Through 2016
In the drug eluting stent market (DES), the largest revenue segment of the interventional cardiology (IC) market, two of the three US DES manufacturers, Abbott Vascular and Boston Scientific, recently launched their next-generation stents. Medtronic, the third competitor in this market, is expected to launch its next-generation DES early next year. These new DES launches will result in increasing competition for procedures which are expected to see flat growth. DES manufacturers will additionally have to contend with strong price erosion due to the increasingly cost conscious US healthcare market.
"Percutaneous coronary interventions (PCI) in the US are no longer seeing the strong growth of previous years, in part due to the decline in the insured population following the economic downturn and people subsequently putting off visits to the doctors," said MRG Analyst Ian Swanson. "In addition, there has been increased scrutiny on practices of overstenting, with a resulting increase in the use of intravascular imaging techniques to identify cases where stenting is truly necessary. This will help drive sales of intravascular imaging devices and pressure guidewires. IVUS catheters use ultrasound and OCT catheters rely on infrared backscatter, while FFR guidewires measure flow, temperature and pressure across the lesion to be treated. All of these devices provide additional information that enables more considered decisions about stent appropriateness, and will inevitably result in fewer stent procedures."
Although the use of intravascular imaging catheters and pressure guidewires will limit PCI volumes by better identifying cases where stenting is not required, the use of these technologies will support overall revenues in the IC device market.
Millennium Research Groups US Markets for Interventional Cardiology Devices 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for coronary stents, PTCA balloon catheters, accessory devices, intravascular imaging catheters and pressure guidewires and coronary atherectomy devices in the United States.
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Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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Posted by Sean Fenske, Editor-in-Chief, MDT