The technology involved in the market for PCI devices is highly complex. In addition, new product launches occur frequently, requiring expert explanation. Such trends are creating solid growth opportunities.
New analysis from Frost & Sullivan (medicaldevices.frost.com), Western European Markets for Percutaneous Coronary Intervention (PCI) Devices, finds that the market earned revenues of $1.63 billion in 2008 and estimates this to reach $2.64 billion in 2015. Coronary stents, coronary catheters, coronary guidewires, angioplasty balloons, balloon inflators and embolic protection devices are the market sectors covered in the research.
"There have been rapid technological advancements, especially in the stent and catheter market sectors," notes Frost & Sullivan Research Analyst Sreevidhya Praveen. "Scientists and entrepreneurs are developing novel technologies that offer significant improvements over current technologies. This, together with strong intellectual property and a comprehensive clinical development plan, is set to attract venture capitalists."
Reinforcing market prospects is the increasing government focus on cardiovascular disease (CVD) as a public health issue. CVD is the leading cause of premature death in Europe. An ageing baby boomer population and sedentary lifestyles is set to increase the number of CVD patients.
At the same time, developments in imaging technology have enhanced the accuracy and safety of cardiac surgery and implantation. This has led to an increase in the number of attempted interventional procedures.
However, well-entrenched competitors threaten the viability of smaller companies.
"A major concern among new participants is the huge R&D expense that a device company has to incur in order to develop devices, conduct clinical trials, gain approval and market the devices," explains Praveen. "The spate of high-profile mergers and acquisitions in the market has further weakened the potential for the rapid growth of smaller companies."
To successfully penetrate the market, companies should forge long-term contracts and relationships with distributors and acute and alternate care facilities.
"In order to compete with the larger participants and expand market share, smaller manufacturers need to gain the preference of distributors, hospitals and alternate care facilities," advises Praveen.
Western European Markets for Percutaneous Coronary Intervention (PCI) Devices is part of the Medical Devices Growth Partnership Services programme, which also includes research in the following markets: Medical Devices Industry: Trends During the Recession, Western European Markets for Wound Closure and, Medical Device Company Profiles. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
If you are interested in more information about this study, please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
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Western European Markets for Percutaneous Coronary Intervention (PCI) Devices (M457)