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Global Cardiovascular Devices Pipeline Landscape: Analysis on Key Upcoming Products and Technologies
Global Cardiovascular Devices Pipeline Landscape: Analysis on Key Upcoming Products and Technologies
The Global Cardiovascular Device Market to Reach $54.3 billion in 2015
Hyderabad,
AP,
India
(prbd.net)
01/02/2010
"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. 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.
Patients at high risk, with contraindications to conventional surgery and/or comorbidities are set to benefit the most from minimally invasive technology. The current average age for valve replacement in the US is 70 years. Due to the high risk associated with surgery in elderly patients, a significant proportion of patients with moderate-to-severe valve disease are refused or denied valve surgery. Another common reason to deny valve replacement surgery to patients is the presence of accompanying co-morbidities, which raises the operative mortality rate. Transcatheter valve replacement aims to provide a minimally invasive treatment that is at least as effective as conventional valve surgery. The minimally invasive nature coupled with a fast recovery time is expected to be associated with less morbidity and mortality. The technology is currently undergoing clinical trials in the US. If successful, these new procedures would expand the treatable population to include patients considered as too high risk for traditional open-heart surgery, providing a new multi-billion dollar market opportunity.
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. The report also provides information on the market potential, market scope and expected market penetration of these products. 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.
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