(PRWEB) November 14, 2004
The demand has been fueled by increased screening, detection, and public awareness of PV disease. In 2004, over 5 million PV procedures were performed worldwide, resulting in a PV device market valued at over $2 billion. Abdominal aortic aneurysm (AAA) stent grafts are one of the key products that will drive global PV revenue growth throughout the forecast period.
AAA stent grafts have experienced rapid adoption in the US since the 1999 release of MedtronicÂs AneuRx device. AAA stent grafting is a minimally invasive alternative to open surgical repair and is preferred in elderly patients for whom surgery presents a higher risk. AAAs afflict approximately 1.5 million Americans annually, resulting in nearly 20,000 deaths caused by AAA rupture. Several key developments have occurred in the US AAA stent graft market since the beginning of 2003, such as the removal of GuidantÂs Ancure device and the market entry of W.L. GoreÂs Excluder and CookÂs Zenith AAA stent grafts. The market entry of these two devices has increased competition and the number of AAA stent grafts physicians can choose from, and resulted in increased procedure growth. The expected market entry of MedtronicÂs Talent device for treating larger aneurysms was delayed until at least 2005. The approval of MedtronicÂs Talent, the most popular stent graft in Europe, will increase the treatable patient population in the US and drive procedure growth. Rapid growth in the US AAA stent graft market will be the main driving factor pushing global AAA stent graft revenues past $650 million in 2008.
MRGÂs Global Markets for Peripheral Vascular Devices 2004 includes analysis on the US, Europe, Japan, and key industry competitors. The global report series covers over 20 competitors including Boston Scientific (BSX), Cordis (JNJ), Medtronic (MDT), St. Jude Medical (STJ), W.L. Gore, Cook, C.R. Bard (BCR), and Guidant (GDT).
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Millennium Research Group Inc.
(416) 364-7776 ext.133
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