Global Pipeline Analysis on Interventional Cardiology Devices
Posted by Edward Endicott on Wed, Aug 25, 2010 @ 04:57 PM
The Global Interventional Cardiology Devices Market is Expected to Grow by 5% over the Next Seven Years
In 2009, the global interventional cardiology devices market was 
valued at $9,961m and is forecast to grow at a 5% Compound Annual Growth Rate (CAGR) during forecast period 2009–2016 to reach $13,654m in 2016. The coronary stent segment will continue to lead the market with a 49% share, followed by the cardiac catheter segment with a 21% contribution. The global interventional cardiology device market will primarily be driven by the increasing prevalence of Coronary Heart Disease (CHD). According to the American Heart Association’s (AHA), the prevalence of CHD was 17.6 million in 2006 in the US, which is nearly 8% of the total population. More than 73% of people aged 60 years and above had Cardiovascular Disease (CVD) during 2003–2006. In the UK, 3.6% of the total population suffers from coronary heart disease while in all of the EU countries, the total prevalence rate is 5%. The high prevalence of CHD has resulted in a high number of interventional procedures such as cardiac catheterization. In 2008, nearly 1.5 million cardiac catheterizations were performed in the US.
High Number of Pipeline Products to Restrict Market Growh
The global interventional cardiology devices market has a total of 272 products in the pipeline. Of these 272 products, 176 products are in the coronary stent segment which is followed by the cardiac catheter segment with 47 products. The PTCA balloon, arteriotomy closure device and coronary guidewire segments have 27, 11 and 11 products, respectively, in the pipeline. Although most of the coronary stent products are me-too products, new technologies such as bioabsorbable stents are expected to gain rapid acceptance. The high number of pipeline products will lead to more competition which will lead to moderate growth in the market over the next seven years.
A Handful of Major Companies Dominate the Global Interventional Cardiology Devices Market
Although the global internventional cardiology devices has many participants, a small number of companies dominant the market with leadership in the coronary stent and cardiac catheter segments. The top five companies account for nearly 72% of the market. The Boston Scientific Corporation leads the market with a 27% market share, followed by the Cordis Corporation with 17%. Abbott Laboratories has a 13% market share, followed by Medtronics, Inc. and Terumo Corporation 8% and 7% market shares, respectively. Other small and local players cumulatively account for the remaining 28% of the market.
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