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Follow on Google News | Interventional Cardiology Devices - Global Pipeline Analysis, Competitive LandscapeThe Global Interventional Cardiology Devices Market is Forecast to Reach $11.3 Billion by 2017
By: Rajesh Gunnam safety profiles, reduced procedure time and reduced procedure cost. New techniques such as transradial intervention to minimize access site bleeding will contribute to an increase in Percutaneous Coronary Intervention (PCI) procedures. The coronary stents segment accounts for about 50% of the total revenue and will continue to influence the growth of the market for interventional cardiology devices. The market is forecast to experience modest growth over the next seven years, primarily due to price erosion in the coronary stents market. The US market for interventional cardiology devices was valued at $4.2 billion in 2010 and is forecast to reach $4.6 billion in 2017 at a CAGR of 1%. The US is the biggest market for interventional cardiology devices and will continue to be so in the future. The US market is forecast to experience slow growth due to intense competition in the coronary stents market, leading to price erosion. However in the long term, US Food and Drug Administration (FDA) approval of bioabsorbable stents and PTCA Coronary Drug Eluting Balloons (DEB) is expected to drive the growth of coronary stents market. Furthermore, positive clinical trial outcomes on bioabsorbable stents and DEB are expected to boost physicians’ confidence. Recent proposals for an In-patient Prospective Payment System (IPPS) are expected to slightly increase the payments received by acute care hospitals in the US. Increasing preference for minimally invasive PCI procedures is expected to drive the growth of global interventional cardiology devices market. Since the inception of Drug Eluting Stents (DES), the safety and efficacy profile of PCI procedures for CHD has improved significantly. A decrease in the mortality rates associated with CHD has boosted physicians’ confidence in PCI procedures. New innovations such as bioabsorbable stents will further drive the growth of PCI procedures due to greater safety and efficacy standards. Positive clinical evidence on DEB for applications other than the treatment of late stent thrombosis will further boost physicians’ confidence about PCI procedures. Transradial intervention is another novel technique that is expected to increase the adoption of PCI procedures as it reduces access site bleeding to a great extent. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ Technological innovations such as bioabsorbable stents are expected to drive the growth of coronary stents market in the future. Bioabsorbable stents made of bioabsorbable polymer degrade in a time span of two years. The risk of late stent thrombosis associated with DES is reduced in these products. Absorb from Abbott Laboratories is the first fully bioabsorbable DES to receive regulatory approval in Europe. The device is approved in Europe but yet to be approved by the FDA. Positive clinical trials for Absorb have encouraged companies to focus on the development of bioabsorbable stents for long term sustainability. The validation of bioabsorbable stents as superior to drug eluting stents and bare metal stents through more clinical trials and approval by the FDA will drive growth of the coronary stents market. Also, technologies under development such as diamond carbon coating, platinum enriched stainless stents and antibody coated or gene therapy stents are expected to drive future growth in the market. GlobalData’s new report, “Interventional Cardiology Devices – Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global interventional cardiology devices market. The report provides market landscape, competitive landscape and market trends information on the interventional cardiology devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the market’s competitive landscape and technology offerings. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage including oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries. End
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