The world market for interventional cardiology devices estimated at $9.7 billion presents one of the most dynamic medical device markets growing at a CAGR of 8.7 percent over the next few years. The market in China is growing the fastest, at a CAGR of 20 to 30 percent in many product segments. Marketstrat Inc. provides detailed market estimates and forecasts for cardiovascular stents (coronary and carotid), PTCA catheters, atherectomy devices, angiographic catheters and guiding catheters in major geographical markets around the world.
The Interventional Cardiology Devices Markets Worldwide report notes that technology innovations are re-energizing an industry struggling to gain wider acceptance by demonstrating long term safety and efficacy. New innovations include carotid stents, bio-absorbable coronary DES and revascularization devices for Peripheral Artery Disease (PAD). Demand for percutaneous intervention (PCI) devices continues to soar with growing patient populations, particularly in emerging markets like China and India. However, manufacturers have been plagued by intense competition and poor long-term success rates resulting from complications such as distal embolism and delayed stent thrombosis. Decline in prices is driving down revenues and market shares of leaders; meanwhile small manufacturers have seized the opportunity to capture sizeable share of local and niche markets, e.g. innovators like Spectranetics, CSI and Pathway Medical have been particularly successful in filling in technology gaps with the latest atherectomy devices.
Technological innovation and timely regulatory approval in are the most critical competitive strategies. Other key factors are favorable comparative clinical studies, clinical training and support, and penetration of emerging healthcare markets which have the highest growth potential.
The leaders, Boston Scientific, Abbott Vascular and Medtronic are staying ahead of the curve with the latest generation DES and bio-absorbable stents. Smaller companies wishing to enter or stay afloat in the stent business received a jolt in August, 2011, when Cordis (J&J) announced their intention to not only exit the DES business but also halt clinical trials for products not yet launched. In contrast, the peripheral intervention market appears a safer bet. Covidien entered this lucrative market through the acquisition of ev3 in 2010, a niche player providing peripheral vascular and neurovascular solutions.
According to this report, broad trends in the major product segments are as follows:
- Coronary DES Market: Growth will be driven by demand in emerging markets. Latest generation platinum/ chromium stents and bio-absorbable versions like ABSORB®
- (Abbott) and Synergy® (Boston Scientific) are critical to maintaining market share.
- BMS Market: Steady growth across the globe due to changing practice patterns allowing BMS to make a comeback.
- Carotid Stent Market: Abbott’s recent success with the CREST trial and FDA’s endorsement for expanded use of the Rx Acculink carotid stent system will stimulate growth in this segment.
- PTCA Balloon Market: Rx catheters continue to push OTW catheters out of the market.
