Recent Report Predicts Significant Opportunity for Bioabsorbable Scaffold Market

According to London, United Kingdom-based research and consulting firm GlobalData, the worldwide market value for bioabsorbable scaffolds (BAS) will expand rapidly from $143.7 million in 2014 to just under $2.1 billion by 2021, driven primarily by new product approvals and a paradigm shift in the clinical treatment of vascular diseases toward minimally invasive procedures.
The company’s latest report states that this significant increase, which will occur across the 10 major markets of the United States, France, Germany, Italy, Spain, the United Kingdom, Japan, Brazil, China, and India, represents an impressive compound annual growth rate of 42.1 percent.

Amen Sanghera, GlobalData’s analyst covering medical devices, said that while BAS devices have yet to gain regulatory approval in the United States, China and Japan, there already are four CE marked devices approved in five European countries.

“Abbott Vascular is the primary player in this market with its drug-eluting BAS, Absorb BVS, which is available across the five European countries and in selected Latin American and Asian countries,” said Sanghera. “The product is expected to gain U.S. Food and Drug Administration approval by 2016. Abbott Vascular recently gained the CE mark for a package incorporating both Absorb BVS and the company’s state-of-the-art catheter delivery system, the GlideTrack. This package is expected to increase the uptake of the Absorb BVS system, as it addresses clinical concerns surrounding the delivery of its device to occluded coronary vessels.”

With sufficient improvements, GlobalData anticipates that BAS could begin to challenge drug-eluting stents as the gold standard of coronary and peripheral artery disease stenting, as BAS devices aim to directly confront the current issues with permanent metallic stents, such as late in-stent restenosis, vessel scarring and late stent thrombosis.

“Technological trends in the market are aimed at reducing the thickness of BAS and providing better delivery systems, more efficient drug-elution characteristics, and faster resorption times,” Sanghera added. “As long-term clinical data demonstrating their efficacy become available, the uptake of BAS will gradually increase across the 10 major markets. The expanding presence of BAS products, along with a reduction in their prices, will drive substantial growth during the forecast period.”

Europe’s IV Set Market a Mixed Bag
According to a recently published report by Vancouver, British Columbia-based iData Research, growth of the European total intravenous (IV) set market is solely driven by a slight increase in unit sales as the average selling price of all device types has been decreasing due to fierce competition and sluggish economic conditions. This market includes primary—dedicated and non-dedicated—and secondary IV sets as well as IV extension sets.

A report by iData Research shows that in 2014 the intravenous (IV) set market was the fastest growing segment of the European infusion therapy device market, valued at nearly $729 million, or 600 million euros.

“The increased occurrence of diseases that demand infusion therapy will lead to an increase in the utilization of installed pumps before promoting an increase in unit sales for capital-intensive devices,” said Kamran Zamanian, Ph.D., CEO of iData. “However, unit sales for secondary IV sets are growing significantly slower than sales of primary IV sets as a result of safety concerns regarding the occurrence of medication error.”

Unit sales of primary IV sets are mainly driven by the increasing age of the European population and corresponding growth of the patient pool. Overall, market growth has been influenced by strong unit sales growth and a high average sales price of primary IV sets dedicated to electronic ambulatory pumps. The growth of secondary IV sets is driven by the increasing number of chemotherapy infusions taking place in hospitals. IV extension sets, used to add length to access IV ports, are seeing the highest increases in their use in neonatal intensive care units, analysts noted.

Regulating agencies have issued warnings about the potential dangers of constructing IV sets and their accessories out of plastics containing di-2-ethylhexyl phthalate (DEHP). Because of these concerns, the European Commission recommends that manufacturers label their devices as containing DEHP, or consider replacing these devices with non-DEHP alternatives. Newer, non-DEHP tubing sets are sold at a higher price than their conventional counterparts, which is driving the IV set market.

Germany-based B. Braun is the leading competitor in the European IV set market, with more than 30 percent market share, according to iData.

“They (B. Braun) have a strong presence in the large volume infusion pump markets in Europe, and because the IV sets used with large volume pumps are dedicated, the company derives a great part of its IV set unit sales from the installed base of these pumps,” according to iData.

Other notable competitors in the intravenous set market include Fresenius Kabi, Codan Inc., Hospira Inc., Baxter International, Becton Dickinson and Company, Doran International, ICU Medical Inc., Smiths Medical and Vygon, among others.

Medtech Coatings to Show Steady Five-Year Growth
According to a new report from Albany, N.Y.-based Transparency Market Research, the global medical device coatings market was valued at $6.6 billion 2013 and is anticipated to reach $10.9 billion by 2020, expanding at a compound annual growth rate of 7.4 percent between 2014 and 2020.

“The market for medical device coatings is driven by increasing healthcare awareness in developing countries coupled with rising demand for better medical and healthcare facilities,” according to the report’s authors. “Medical device coatings are used to counter microbial growth, wear and tear and prevention of infection through medical devices. Furthermore, significant foreign investment in the medical device market in China coupled with lenient governmental regulations is driving demand for medical device coatings. Increasing demand for nanotechnology-based coatings is projected to offer higher opportunities for market growth over the next few years. However, volatility in prices of raw materials coupled with stringent governmental regulations is estimated to hamper market growth in the near future.”

Antimicrobial coatings were the largest product segment, accounting for more than 40 percent of the global demand for medical device coatings in 2013. Drug-eluting coatings constituted the second-largest market share of the global medical device coatings market in 2013. Drug-eluting coatings facilitate slow release of drugs for removal of blockages in arteries or veins. Hydrophilic coatings are anticipated to be the fastest growing product segment in the medical device coatings market during the forecast period. Hydrophilic coatings have improved wetting characteristics that enable smooth lubrication when in contact with human tissue and blood.

In terms of demand, the general surgery segment has been dominating the medical device coatings market over the past few years. Medical device coatings are applied on catheters, syringes and guidewires, among others. Cardiovascular accounted for the second-largest demand for medical device coatings in 2013. Medical device coatings are applied on various cardiovascular devices such as balloon catheters, angioplasty catheters, coronary stents, guide wires, occlusion devices and other percutaneous coronary intervention devices. Cardiovascular is estimated to be the fastest growing end-user for medical device coatings in the near future. Neurology and gynecology are projected to be major end-users for medical device coatings by the end of 2020. Other end-user segments (such as ophthalmology) are likely to exhibit stable demand for medical device coatings during the forecast period, according to the report.

In terms of demand, North America dominated the medical device coatings market over the past few years. The region held over 45 percent share of the global demand for medical device coatings in 2013, which is projected to continue during the forecast period. Strategic collaborations with developing countries such as China and India are estimated to help maintain the overall growth of the medical device coatings market in North America in the next few years.

Asia-Pacific is anticipated to be the most lucrative market for medical device coatings during the forecast period. An increase in healthcare awareness coupled with foreign investments is likely to drive demand for medical device coatings in the region.

The report provides a comprehensive view of the medical device coatings market in terms of volume and revenue. It includes current demand analysis and forecast for product segment and end-users in North America, Europe, Asia-Pacific and the rest of the world.

Global Trauma Market Set For Expansion, Report Claims
The global orthopedic trauma devices market was valued at $5.7 billion in 2013 and is expected to grow at a compound annual growth rate (CAGR) of 7.2 percent from 2014 to 2020 to reach an estimated value of $9.4 billion in 2020.

According to a recent report, the worldwide orthopedic trauma fixation devices market is witnessing a significant growth due to an increase in fractures cases and increasing demand for better facilities in orthopedic trauma surgeries, claim analysts with Persistence Market Research, a New York, N.Y. and India–based market research firm. As a result, the market is expected to grow at a CAGR of about 7.2 percent over the next five years.

Some of the major driving factors for orthopedic trauma fixation devices market are rising numbers of participation in sports and growing aging populations. In addition, government and multinational companies are increasing their investments in the sector, analysts noted. Increased demand for better facilities in trauma surgeries also has set a positive growth rate for the orthopedic trauma fixation devices market. However, various factors such as revision surgeries and absence of health insurance in developing countries, high cost of surgeries involved and reduced awareness of trauma options compared to other orthopedic sectors are some of the major headwinds faced by the orthopedic trauma fixation device market.

North America is the largest market for orthopedic trauma fixation devices, while the Asia-Pacific region is witnessing the fastest growth of orthopedic trauma fixation. Some of the fastest growing markets for orthopedic trauma include China, Japan, India and Southeast Asia. The Eastern Mediterranean also is experiencing growth, analysts said.

Internal fixators comprise the largest market in orthopedic trauma fixation and are expected to grow at a CAGR of about 6.8 percent during 2014-2020. Plate-and-screw systems are the most commonly used internal fixators for fixing a traumatized fracture. The plate-and-screw system market is expected to grow at a CAGR of about 7.1 percent during the forecast period.

Various companies dealing in orthopedic trauma fixation devices market are increasing their investment in bioabsorbable fixation devices. The bioabsorbable fixation devices market also is experiencing growth, Persistence analysts said, and it is expected to grow at a CAGR of about 8.4 percent during 2014-2020, analysts predicted.

DePuy Synthes, a Johnson & Johnson company, is a leading player in the global market for orthopedic trauma fixation devices, which had a market share of about 47.3 percent in 2013. Some of the other companies dealing in orthopedic trauma fixation devices market are Stryker Corp., Zimmer Biomet, Smith & Nephew plc, Orthofix Holding Inc., and others.