Revascularization Devices Market - Introduction
Revascularization is a surgical procedure used to restore perfusion to a body part or an organ suffering from ischemia (restricted blood supply). Revascularization of obstructed arteries is done to reduce ischemia and improve the quality of life of the patient. It is done either through percutaneous coronary intervention (PCI) or coronary artery bypass grafting (CABG) using coronary stents. PCI is a minimally invasive procedure performed in patients with coronary heart diseases to lower the risk of revascularization.
Revascularization Devices Market – Competitive Landscape
Major players operating in the revascularization devices market include Medtronic, Penumbra Inc., Johnson & Johnson Services, Inc., Scanmed, Fuji Systems Corp., Abbott, Biosensors International Group, Ltd (Bluesail Medical Co., Ltd.), Cook, Biotronik, Boston Scientific Corporation, Stryker, MicroPort Scientific Corporation, Terumo Corporation, STENTYS SA, Medinol Ltd, and Terumo Corporation.
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Boston Scientific Corporation
Boston Scientific Corporation is a leading player engaged in the development of solutions for several medical conditions in the form of efficient and innovative medical devices. The company offers a wide portfolio of around 13,000 products and has strategic presence in more than 100 countries. It is a global leader in the interventional cardiology sector, operating through 40 offices across the world. Boston Scientific Corporation offers various products for revascularization such as stents and catheters.
Stryker is a medical device company that provides innovative products and services in the areas of orthopedics, medical and surgical, neurotechnology, and spine. The company sells products in more than 85 countries through subsidiaries, branches, and distributors; and has presence in the U.S., Europe, the Middle East, Africa, and Asia Pacific. Trevo XP ProVue Retrievers is one of the products offered by the company for revascularization.
Medtronic, a leading manufacturer of medical devices, provides solutions and services in various therapeutic areas. The company operates in more than 160 countries across the globe. It owns around 45,000 patents for its medical devices and technologies. Under cardiac & vascular division, the company offers solutions for cardiac rhythm, heart failure, coronary and structural heart diseases, and aortic and peripheral vascular diseases. Medtronic offers Solitaire X revascularization device in the revascularization devices market. The product is based on the parametric design, an overlapping stent retriever-based technology.
Biotronik is a privately owned medical devices company that develops solutions for cardiovascular disorders. It develops and markets interventional stents exclusively in countries such as Germany, Switzerland, Singapore, and the U.S. Biotronik is engaged in the development of stents in coronary as well as peripheral interventions. Its Orsiro is one of the leading drug eluting-stent used worldwide. The company developed Pulsar-18, the world’s first 4F compatible stent used for the treatment of long lesions. The company has strategic presence in more than 100 countries. Physicians across the globe have implanted over 19 million Biotronik devices.
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Revascularization Devices Market – Dynamics
The revascularization devices market is expected to be driven by the increase in prevalence of chronic conditions such as stroke and coronary artery diseases, and product launches by players operating in the cardiovascular device business. Furthermore, approvals by the Food and Drug Administration (FDA) and technological advancement in cardiology are likely to augment the revascularization devices market during the forecast period. However, product recall by the FDA is likely to hamper the revascularization devices market. For instance, in May 2018, the FDA recalled MindFrame Capture LP revascularization device manufactured by Medtronic. This class I device may lead to serious injuries or even death. The FDA identified the risk of wire breakage or separation during usage, leading to further complications such as bleeding & blockage of blood vessels.
Increase in Prevalence of Stroke - Key Driver of Revascularization Devices Market
Increase in prevalence of stroke is one of the major drivers of the revascularization devices market. Stroke has become one of the leading causes of death across the globe. According to the Lancet journal, there were 5.5 million deaths and 116.4 million disability-adjusted life years (DALYs) due to stroke in 2016. It also stated that stroke was the second largest cause of death worldwide. According to the World Health Organization (WHO), 70% of strokes occur in low and middle income countries. Therefore, there exists a need for development of new treatment modalities for the treatment of stroke due to the increase in its prevalence at a rapid pace.
Revascularization Devices Market – Segmentation
The revascularization devices market can be segmented based on product, application, end-user, and region
Based on product, the revascularization devices market can be divided into:
- Bare Metal Stents
- Drug-eluting stents
- Balloon Catheter
In terms of application, the revascularization devices market can be fragmented into:
- Critical Limb Ischemia
Based on end-user, the revascularization devices market can be bifurcated into:
- Ambulatory Surgical Centers
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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