Hyderabad, Andhra Pradesh India (PressExposure) March 25, 2011 -- Report Reserve announces inclusion of a new market research report to its premium store.
Global Cardiovascular Devices Pipeline Landscape: Analysis of Key Upcoming Products and Technologies
While the leading cardiovascular device manufacturers continue to be impacted by economic and regulatory challenges, factors such as increasing Research and Development (R&D) costs, a shortening product pipeline and increasing competition from small and medium-sized companies are putting additional pressure on these manufacturers to stay competitive and remain profitable. Considering the ever-expanding competitive landscape, it is important to have a thorough analysis and intelligent insight on the key cardiovascular pipeline devices expected to bring in dynamism in the market.
GlobalData's new report, "Global Cardiovascular Devices Pipeline Landscape: Analysis of Key Upcoming Products and Technologies" provides key data, information and analysis on the key cardiovascular pipeline devices expected to hit the market in the next seven years. It also identifies and reviews the existing competing technologies and the likely impact of the launch on the competitive landscape. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
The Global Cardiovascular Device Market to Reach $54.3 billion in 2015
The global cardiovascular devices market is forecast to reach $54.9 billion in 2016, growing annually at 7% between 2009 and 2016. The growth will be driven by increasing prevalence of cardiovascular diseases, an aging population, introduction of innovative products and increasing prevalence of co-morbidities like diabetes and obesity.
Cardiovascular Devices, Global, Revenue ($m), 2009-2016
MRI Compatible Cardiac Rhythm Management: The Next Generation Devices
Pacemakers and ICDs have been a life saving grace for millions of arrhythmia patients. However, conventional implantable devices for CRM do not offer compatibility with MRI. MRI is of importance in diagnosing events like stroke, cancer, problems with the spinal cord, brain and others. MRI scanners employ radio waves and strong magnetic fields to provide a detailed visualization of the inside of the body. These energy sources interfere with the working of a pacemaker or ICD.
It is has been estimated that around half the people implanted with an ICD or pacemaker will require an MRI scan at one point in their lifetime. This provides an ample opportunity for companies to manufacture an implantable CRM device which is MRI safe.
The first device to be developed to be MRI compatible is the EnRhythm MRI SureScan pacing system by Medtronic. The other devices in development include the Advisa DR MRI SureScan pacing system by Medtronic and SJM MRI Pacing System by St. Jude Medical. The Advisa DR MRI SureScan pacing system has received CE mark for commercialization in Europe; however, it is not yet available in the US.
Medtronic Remain the Leader in the Global Cardiovascular Devices Market in 2008
Medtronic, Boston Scientific and St. Jude Medical are the leading competitors in the global cardiovascular devices market. Together, these three companies accounted for around 50% of the market in 2008.
Medtronic was the leading company with 20.6% market share in 2008, followed by Boston Scientific and St. Jude Medical with 18.3% and 11.7% of the market share respectively.
Global Cardiovascular Devices Market, Company Shares (%), 2008
Interventional Cardiology Category with the Largest Product Pipeline
With over 300 products in pipeline, the interventional cardiology market has witnessed huge efforts spent on R&D over the last five years. Bioabsorbable stents, new coating technologies that help reduce stenosis, bio-engineered pro healing stents that heal sclerotic tissue faster and new diagnostic tools like intra vascular ultrasound technologies are in the final stages of development and are expected to bring in a significant change to cardiac intervention procedures. These technologies are all aimed at decreasing procedure time and quicken healing post operation. Many small and emerging companies have come up with innovative new products and this category is expected to witness an increase in M&A activity in the future, with many of the large companies like Medtronic and St. Jude Medical looking to acquire such single product companies with innovative products. For more details, please visit [http://www.reportreserve.com/reportdet.php?company=GlobalData&reportid=10022].