As per the report, stent market is the largest in interventional cardiology and with slow angioplasty procedural growth, it will remain competitive.
Key findings of the report
- The field of interventional cardiology continues to be in trend and medical device manufactures have been given critical importance, since millions of Americans are suffering from heart disease.
- In 2012, the U.S. market for interventional cardiology devices was valued over $3.5 billion, mainly because of promising product development by corporate giants such as Johnson & Johnson, Abbott Laboratories and Boston Scientific in providing treatment with less suffering and fewer complications to a lot of Americans.
- There are two main types of stents available in the U.S. market namely drug-eluting and bare-metal. Patients with heart disease most commonly receive a percutaneous transluminal coronary angioplasty (PTCA) which involves stenting. This procedure is considered to be more effective than drugs and less invasive than coronary artery bypass graft (CABG) surgery.
- Over a decade ago, Johnson & Johnson had a big win by introducing “bare-metal” stents. And within a few years millions of these devices were being placed during angioplasty procedures worldwide. Now, many more patients could be treated by angioplasty, since it is faster, easier to perform, safer and less expensive than a CABG procedure. But, this new stenting technology has not been perfect. Bare-metal stents, which is effective at dilating arteries, are also associated with a substantial risk of restenosis, in which the arterial wall would heal over the stent and occlude the artery once again. This complication prompted development of “drug-eluting” stents. Even though drug-eluting stents were much more expensive than bare-metal stents; their lower restenosis rates, along with the effects of extensive marketing campaigns, has allowed drug-eluting stents to dominate the market, accounting for the majority of units sold, just within three years of its approval by the Food and Drug Administration (FDA).
- In the near future, the American patients can expect a new invention with “bio absorbable” stents. When they are approved for sale in the U.S., it will have a serious impact on the existing market for interventional cardiology devices. And the market success is predicated on clinical trials measuring the efficacy of bio absorbable stents against the effectiveness of current technologies and on the number of procedures performed.
- Abbott Laboratories is the company in US which is ahead in the development of bio absorbable stents. For another two to three years, this device will not be available for patients in the U.S. but, it has been commercially approved in Europe and is scheduled for sale in Brazil next year.
- Even though in the future bare-metal stunts will be less used, but because of its less cost, it will remain an option in the stent market. The bio absorbable stent is more likely to become a substitute for existing drug-eluting stents, but again its growth is dependent upon price and whether the product lives up to its claims.
- In the next few years, the number of angioplasty procedures is expected to remain stable and the total number of stents sold is expected to grow and reach around 1.6 million units with a market value in the billions.
Until now, the stent market is the largest in interventional cardiology and with slow angioplasty procedural growth, it will remain competitive. Since, the companies need to rely on bundling and technical innovation to increase revenues in the years to come; technical innovations in stent technology and optimized drug management could decrease the demand for a bio absorbable stent, due to which the device might become a niche product. On the other hand, if the device proves to give positive results for clinical trials, it could gain market share and conceivably grow as large as existing bare-metal stent or drug-eluting stent segments.