Growing Popularity of Minimally Invasive Surgery Drives Growth in Coronary Stents Market18 January 2006
Coronary stents have had a tremendous impact on the field of interventional cardiology, becoming an accepted mode of treatment for a wide range of diseases of the arteries due to their many advantages: better clinical performance, faster patient recovery time and fewer medical complications.
Added to these benefits, a fast-growing ageing population and the rising trend towards minimally invasive surgeries are helping drive the coronary stents market in Europe.
"Over 20 per cent of the current population is above the age of 60 and this is expected to increase by 25 per cent by 2020," remarks Frost & Sullivan (http://healthcare.frost.com) Research Analyst Eleni Grammenou. "This is bound to see a corresponding increase in the number of elderly people with cardiovascular indications requiring treatment with stents."
Minimally invasive surgery is also rapidly gaining popularity as it allows patients to recover faster and stay in hospitals for a reduced period of time. It also helps reduce the chances of related complications that could occur after major surgeries, thereby avoiding the need for re-admission. With such compelling advantages, the trend towards minimally invasive surgery will continue to grow and generate demand for coronary stents.
All these factors together point to a promising future for the coronary stents market in Europe. The market for drug eluting stents (DES) is currently valued at $314 million and is likely to increase to $883 million in 2012 at a compound annual growth rate (CAGR) of 15.9 per cent.
The availability of strong clinical evidence supporting the benefits of using DES, especially for certain complex indications, as well as the implementation of healthcare reforms promoting their use is likely to largely contribute to this projected growth.
"Ongoing clinical trials on the use of DES for various cardiovascular indications could further expand their application in the near future," says Ms. Grammenou. "Bioabsorbable stents are still undergoing clinical trials; however, it is envisaged that once these are approved, they will quickly absorb a significant per cent of the stent market."
Frost & Sullivan estimates the market for bare metal stents (BMS) to increase from $336 million in 2005 to $502 million in 2012. The market is likely to start declining from 2008 due to healthcare providers' increasing preference for DES. Nevertheless, it is highly unlikely that the use of BMS will completely stop. Clinical evidence suggests that BMS are still preferable over DES in certain conditions where the use of drugs could adversely affect the patient's health.
BMS' cost-effective pricing is another strong point in their favour. With average prices ranging from $400-$800 - approximately half that of DES - governments will continue to choose them over the latter to comply with tight healthcare budgets and restricted purchasing power.
However, both types of stents face a major challenge from alternative treatments such as laser angioplasty and simpler bypass procedures as well as from drug therapy. Pharmacological agents have the ability to reduce stenosis, prevent or dissolve thrombi and dilate arteries at various developmental stages. Drug treatments also offer considerable price advantages over surgical procedures, which could restrain the growth of the stents market to some extent.
Manufacturers of stents will also have to comply with increasingly stringent safety standards for medical devices. Government officials are conducting constant checks to ensure the safety of the stents currently in the market. Since coronary stents are used in highly delicate procedures, it is critical that they do not cause any additional complications to patients.
"A major concern in this respect is the thrombogenocity of these devices," observes Ms. Grammenou. "Many believe that the polymeter in DES, which releases the drug over time, plays a pivotal role in the appearance of late thrombosis. However, this is an area that needs to be examined further."
Apart from adequately satisfying safety standards, manufacturers also need to track end-user needs to help healthcare providers meet patient demands and provide improved service. Closely monitoring end-user needs will benefit manufacturers in terms of clinical application and strengthen their competitive position in the market. Addressing and exceeding customer expectations will ultimately help manufacturers increase sales revenues and market shares.
If you are interested in a virtual brochure, which provides manufacturers, end-users, and other industry participants an overview of the latest analysis of the European Market for Coronary Stents (B673-54), then send an e-mail to Radhika Menon Theodore, Corporate Communications, at rmtheodore@frost.com with the following information: your full name, company name, title, telephone number, fax number and e-mail address. Upon receipt of the above information, an overview will be sent to you via e-mail.
European Market for Coronary Stents
(B673-54)
Background
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
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Keywords: European, coronary stents, minimally invasive surgery, drug eluting stents, DES, bare metal stents, BMS, interventional cardiology, bioabsorbable stents, alternative treatments, laser angioplasty, drug therapy, stenosis, thrombogenocity, thrombosis
Database of Key Industry Participants: Abbott Laboratories, Biosensors International, Biotronic, Boston Scientific Corp., Edwards Lifesciences, Eucatech, ev3, Inc., Guidant Corp., Invatec S.r.l, Johnson & Johnson (Cordis), Medtronic, Inc. Microport, Nitromed, OrbusNeich, Robicon Medical, Sahajanand, Scion Cardio-Vascular, Inc., Sorin Biomedica, Translumina, W.L.Gore and Associates, Inc.
Source: prnewswire
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