Peripheral Vascular Device Market Showing Strong Growth

According to a new report, the peripheral vascular device market in the United States was valued at more than $3.8 billion in 2011. The market is expected to grow rapidly to more than $7.1 billion by 2018 fueled by sales of peripheral vascular stents, stent grafts, chronic total occlusion devices and increased use of transcatheter embolization devices for new indications such as cancer and stroke treatment.

“Transcatheter embolization devices, which are used to occlude blood flow within the vasculature, are expected to be the fastest-growing segment in the overall peripheral vascular market,” says Kamran Zamanian, Ph.D., CEO of iData Research, which is based in Vancouver, British Columbia. “Their uses are going beyond the treatment of aneurysms and other arteriovenous malformations and are being used in the treatment of growths, cancers and stroke. In particular, sales of particle embolics, which can deliver drug-coated and radiolabeled beads for targeted drug delivery and radiation therapy, are estimated to grow at double-digit rates through 2018.”

According to IData’s report, Cook Medical Inc. leads the transcatheter embolization device market but was followed closely by Boston Scientific Corp., which leads the particle embolics segment with its Contour PVA Embolization Particles.

Additionally, the CTO segment is expected to more than double in value by 2016 due to new device indications. The Crosser catheter from C.R. Bard Inc. recently gained approval for use in atherectomy procedures and other market leaders, such as Johnson & Johnson’s Cordis, may follow-suit as atherectomies have a higher reimbursement than CTOs.

“The peripheral vascular stent market is also expected to see strong double-digit growth fueled in part by sales of covered stents,” said Zamanian. “W.L. Gore [the medical division of W. L. Gore & Associates Inc.] remains the market leader and has released lower profile stents with smaller diameters to access more difficult vasculature such as below-the-knee areas, which is seeing rapidly growing demand. C.R. Bard and Atrium Medical are battling for second place in this market.”

W.L. Gore was also the leading competitor in the stent graft market with their minimally invasive Excluder AAA and TAG thoracic endoprostheses products, the report outlined. However the company’s market share has been challenged since the introduction of competing devices by Medtronic Inc. and Cook Medical, report authors noted. The market for stent grafts, which includes abdominal aortic aneurysm and thoracic aortic aneurysm stent grafts, is estimated to almost double in value to more than $1.3 billion in annual sales by 2018.

Approximately 80 percent of people in the United States who suffer from aortic aneurysms are undiagnosed, and growth in this market will be driven by new ultrasound and CT screening methods.

For more information, register free on iData’s website at:
www.idataresearch.net/idata/registration.php