Edwards, Medtronic and Boston Scientific Lead Market Growth for Cardiac Surgery, Cardiac Rhythm Management and Interventional Cardiology Devices, Reports iData Research, Inc.
As the US population ages and obesity rises, cardiovascular device markets reach billions in market value.
Vancouver, BC (PRWEB) October 29, 2013
iData Research, the leading global authority in medical device and pharmaceutical market research, has published a new report series for the U.S. Cardiology Device Markets. Cardiovascular disease is much more prevalent among patients over 55 years of age; therefore as the U.S. population ages, the incidence of cardiovascular disease will increase. In addition, rising rates of obesity will also contribute to the incidence of heart disease. As the baby boomer generation in the U.S. ages, the patient population will increase. This increase in the patient population will lead to an annual 3% to 4% increase in the number of patients requiring some type of arrhythmia treatment.
The fastest growing market among cardiac rhythm management, electrophysiology and ablation devices is diagnostic electrophysiology catheters. This market grew due to the increased use of Intracardiac Echography (ICE) and electrophysiology mapping catheters. The high average selling price of these products also bolstered market growth. Top competitors include Medtronic, St. Jude Medical and Boston Scientific.
The fastest growing areas of the cardiac surgery market will be that of transcatheter heart valve devices. These devices are used for repairing and replacing heart valves without the need for open surgery. They are expected to be widely accepted as new devices continue to be approved by the Food and Drug Administration (FDA). “The THVI market is expected to increase to represent over 15% of the total cardiac surgery market by 2019,” says Dr. Kamran Zamanian, CEO of iData. Competitors such as Edwards LifeSciences, Medtronic and Maquet together hold nearly half of the total market for cardiac surgery devices.
The U.S. market for interventional cardiology devices was valued at over $3.5 billion, with drug-eluting stents comprising the largest segment of the market, followed by coronary vascular closure devices, PTCA and cutting balloon catheters, bare-metal stents, intravascular ultrasound (IVUS) catheters, coronary introducer sheaths, interventional coronary guidewires, coronary embolic protection devices, interventional coronary catheters and balloon-inflation syringes. The report states that over the forecast period, the U.S. market for interventional cardiology is expected to exceed $4.2 billion by 2019 led by companies such as Boston Scientific, Abbott Laboratories, and St. Jude Medical. Market growth is expected to be tied to growth of the drug-eluting stent market and the expansion of the optical coherence tomography (OCT) catheter market.
In Addition to the U.S. cardiology report series, iData has research for the following countries: Japan, South Korea, China, India and Australia, Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, U.K.
About iData Research
iData Research is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: infusion therapy, peripheral vascular, vascular-access, drug-delivery and more.
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