TORONTO--(BUSINESS WIRE)--Sep 26, 2012--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the market for peripheral vascular devices in Brazil, Russia, India and China will grow at a robust rate averaging 8.5 percent per year through 2016. The most significant growth will be in aortic stent grafts and lower extremity devices.
Growth in these relatively underpenetrated markets will be driven by an increasing number of physicians trained in endovascular techniques and improvements in healthcare infrastructure, as well as by increases in the elderly, obese and diabetic populations that require a higher number of peripheral vascular interventions.
Aortic stent grafts, comprising abdominal and thoracic aortic stent grafts, will grow strongly as surgeons move from the traditional open surgical repair to less invasive endovascular aortic repair (EVAR) and thoracic endovascular aortic repair (TEVAR), which have reduced risk of complications and faster healing times.
Peripheral vascular stents in lower-extremity indications will also show strong growth. The release of new devices designed specifically for the femoropopliteal (fem-pop) and infrapopliteal (infrapop) arteries will see strong uptake by physicians seeking to salvage limbs threatened with critical limb ischemia. Fem-pop and infrapop stents will show procedure growth rates of 17.5 percent and 19.2 percent respectively through 2016.
“These markets are still price sensitive, with limited reimbursement,” said MRG Analyst Lisa Wang. “Brazil, Russia and China have all enacted or are planning to enact legislation prolonging the approval process, which will delay the adoption of premium-priced products. As the number of procedures increase, price competition will increase as well. The result will be downward pressure on selling prices. Brazil, with its more mature market, will see less of this, and more introduction of next-generation devices for newer indications, particularly fem-pop and infrapop. China will see the greatest increase in procedures.” Millennium Research Group’s BRIC Markets for Peripheral Vascular Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for PV stents, PTA balloon catheters, atherectomy devices, Embolic Protection Devices, aortic stent grafts, synthetic and biologic surgical stent grafts and PV accessory devices sold in Brazil, Russia, India and China.
About Millennium Research Group 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.
About Decision Resources Group Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.CONTACT: Decision Resources Group Christopher Comfort, 781-993-2597 email@example.com or Millennium Research Group Alex Jablokow, 617-599-8613 firstname.lastname@example.org KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES RESEARCH MEDICAL SUPPLIES SCIENCE GENERAL HEALTH SOURCE: Millennium Research Group Copyright Business Wire 2012 PUB: 09/26/2012 08:00 AM/DISC: 09/26/2012 08:00 AM http://www.businesswire.com/news/home/20120926005096/