TORONTO–(BUSINESS WIRE)–According to Millennium Research Group (MRG), the global authority
on medical technology market intelligence, the market for the specialized
devices used for neurosurgical and neurovascular treatments will grow to $240
million by 2016, driven largely by an aging population in the United States
that will suffer an increasing incidence of conditions such as stroke, cerebral
aneurysms and intracranial atherosclerosis disease. Growth will be hindered
mostly by the development and clinical use of competing innovative technologies
that benefit patients without the use of these specific devices.
Hydrocephalus shunts will generate the largest part of the
revenues in this market and will grow the fastest through 2016. Hydrocephalus
devices command a premium price and are associated with a high repeat-procedure
rate. While repeat procedures boost unit sales, they have also encouraged a search
for more durable treatment options. It is likely that endoscopic third
ventriculostomy (ETV), which promises a long term shunt-free solution for some
patients, will increasingly become the treatment of choice, cutting into
hydrocephalus shunt sales.
Medtronic and Codman & Shurtleff are the leading
companies in the US
hydrocephalus shunt market, but will be increasingly challenged by Integra
LifeSciences, which has successfully secured numerous distribution agreements
with hospitals recently.
Devices used in treating intracranial aneurysms include
neurovascular clips, which compete with embolization procedures, including
those that employ the use of neurovascular stents and balloon catheters. The
arrival of new and innovative endovascular products for the treatment of
wide-necked, unruptured intracranial aneurysms, including ev3s Pipeline
Embolization Device and NeuroVasxs cPAX Aneurysm Treatment system (both
approved in 2011) will limit the growth of these segments.
“A large influence on this market will also come from the
provisions of the Patient Protection and Affordable Care Act,” said MRG Analyst
Prabjot Bal. “These call for greater transparency in reporting the incidence of
hospital-acquired infections and monitoring medical errors leading to such
cases. This will encourage the adoption of premium-priced devices that decrease
the likelihood of hospital-acquired infections, such as antimicrobial catheters
for external ventricular drainage, thus boosting that segment of the market.”
While unit sales of standard catheters will grow at an
average of only 0.7 percent per year, sales of antimicrobial catheters will
grow at 5.4 percent. Medtronic, Codman & Shurtleff and Integra LifeSciences
are the major competitors in the external ventricular drainage device market.
Millennium Research Groups US Markets for Neurosurgical and
Neurovascular Devices 2012 report includes procedure, unit, average selling
price and revenue information, along with market drivers and limiters and
competitive landscape for hydrocephalus shunts, external ventricular drainage
(EVD) devices, neurovascular clips, neurovascular stents and neurovascular
balloon catheters in the United
States.
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.
