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According to a new series of reports by iData Research, the total U.S. market for interventional cardiology devices was valued at $2.9 billion in 2017. Growth of the U.S. interventional cardiology market is highly correlated with annual procedural volume, particularly percutaneous coronary intervention (PCI) and angiography procedures. PCI procedural growth has a positive effect on the associated device markets, such as coronary stents, balloon catheters, interventional catheters and guidewires and various other devices required per procedure. Angiography procedure volumes are expected to remain stable over the forecast period.
In 2017, the largest segment in the interventional cardiology market was the coronary stent market, which represented approximately 44% of the total market value. Unit sales growth for the total coronary stent market is exceedingly dependent on the annual PCI procedure volume, and any significant changes will exhibit a direct effect on sales volume.
“Following multiple clinical studies that presented evidence of over-stenting in the U.S market, PCI procedure volume and coronary stent sales experienced substantial declines for several years,” explains Jeffrey Wong, Strategic Analyst Manager at iData Research. “However, fluctuations in procedure volumes have recently stabilized, and low single-digit growth is expected over the forecast period.”
The total coronary stent market comprises bare-metal stents, drug-eluting stents, covered stents and bifurcated stents. The value of the total coronary stent market decreased in 2017 and is expected to fluctuate between negative to flat growth. Changes in growth rates will be driven by modest increases in unit sales and ASP depreciation across all segments. ASP depreciation will be driven by bundling and competitive pricing pressure. Bundling is driven by unfavorable reimbursement conditions and larger competitors, who have a wide variety of devices to offer across the interventional cardiology market and are able to negotiate more cost-effective contracts with hospitals and labs.
Boston Scientific is the market leader in the total U.S. interventional cardiology market. Boston Scientific is an extremely well-established competitor in this field, with a strong reputation and large sales force in both the coronary and peripheral markets. The company has recently emphasized its focus on the complex PCI opportunity in the market, for which it offers specialized devices such as CTO systems, atherectomy devices, specialty balloon catheters, embolic protection devices, IVUS and FFR. The company is expected to maintain its leading position in the market.
Abbott Laboratories participates in a wide variety of device segments, often holding one of the top leading positions within each market. The company expanded its position in the overall market through its acquisition of St. Jude Medical in 2017, effectively adding coronary embolic protection devices, introducer sheaths, diagnostic coronary catheters and guidewires and OCT devices to its portfolio.
For Further Information
More on the interventional cardiology device market in the U.S. can be found in a series of reports published by iData Research, entitled the U.S. Market Report Suite for Interventional Cardiology Devices 2018. The U.S. market for interventional cardiology devices includes the coronary stent, coronary balloon catheter, balloon-inflation device, interventional coronary catheter, interventional coronary guidewire, coronary embolic protection device, coronary atherectomy device, coronary thrombectomy device, chronic total occlusion system, introducer sheath, coronary vascular closure device, diagnostic coronary catheter and guidewire, intravascular ultrasound (IVUS) and optical coherence tomography (OCT) markets.
The iData report series on interventional cardiology devices covers the U.S., Brazil, Japan, and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxembourg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about interventional cardiology device market data, register online or email us at [email protected] for a U.S. Market Report Suite for Interventional Cardiology Devices 2018 brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Interventional Cardiology, Vascular Access, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Spinal Implants and VCF, Spinal MIS, Laparoscopy, Urology, Gynecology, Endoscopy, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology, Wound Management, Orthopedics and more.
We have built a reputation and earned our clients’ trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.