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SOURCE Millennium Research Group
Technological Innovation Will Allow Some Competitors to Maintain or Expand Revenues in This Declining Market, According to Millennium Research Group
TORONTO, Dec. 11, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States market for interventional cardiology (IC) devices will be hindered by ongoing concerns over overstenting and the appropriate use of percutaneous coronary intervention (PCI). As a result, PCI volumes will continue to decline through 2018 before stabilizing. However, total IC device revenues will continue to fall through 2022 due to cost sensitivity and healthcare reforms.
In this declining market, technological innovation will offer the best opportunity for companies to gain revenues. This has been most evident within the coronary stent segment. Abbott is expected to gain approval for the first bioresorbable vascular scaffold (BVS), ABSORB, in 2017; ABSORB received CE marking in Europe in 2011, and there is already significant interest in this device among US physicians. This product features a scaffold made of a polymer that completely dissolves in the vasculature over time, allowing the vessel to heal and return to normal. BVS are expected to offer clinical results similar to drug-eluting stents (DES), while supporting an improved safety profile. Although this product will initially be priced at a premium and will face significant competition from DES, ABSORB represents a major innovation and is likely to capture share within the coronary stent segment.
"A number of other stent technologies are expected to enter the market through 2022, many from smaller competitors focusing on niche segments," said MRG Senior Analyst Ian Swanson. "For example, Tryton Medical's TRYTON is a dedicated bifurcation stent, currently in clinical trials. InspireMD is developing a stent specifically designed to treat ST-segment elevation myocardial infarction patients. Similarly, STENTYS' product will be a self-apposing, self-expanding stent designed to treat patients suffering from acute myocardial infarction. Each of these devices is aimed at a specific difficult-to-treat patient niche and seeks to offer improved treatment options over currently available devices."
Millennium Research Group's US Markets for Interventional Cardiology Devices 2014 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for coronary stents, percutaneous transluminal coronary angioplasty balloon catheters, accessory devices, intravascular imaging 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.
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