TORONTO–(BUSINESS
WIRE)–According to Millennium Research Group (MRG), the global authority
on medical technology market intelligence, interventional cardiology devices in
the United States will see a shrinking overall market due to a maturity in
procedures and heavy downward pressures on sales prices. Even with an annual
decline of three percent per year, the market will still be worth nearly $2.4
billion dollars in 2016, ensuring continued competition and market innovation.
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.
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.
Posted by Sean Fenske, Editor-in-Chief, MDT
