(PRWEB) November 11, 2005
Coronary artery disease (CAD) results from atherosclerosis, a condition that narrows the arteries due to the deposition and buildup of arterial plaque along the inner vessel walls. CAD is the most common form of heart disease in Europe and one of the leading causes of death worldwide. Over the past decade, the number of patients treated surgically through a coronary artery bypass graft (CABG) procedure has declined in favor of the less invasive percutaneous coronary intervention (PCI) method. Compared to CABG, PCIs reduce ambulation time, lower the risk of death during the procedure, and accelerate patient recovery time. As a result, the European market for interventional cardiology devices is growing rapidly, driven by the demand for drug-eluting stents (DES), the advent of new technologies, and the rising volume of PCI procedures. According to a new report by Millennium Research Group (MRG), the European market for interventional cardiology generated over $1.4 billion in 2004, and will sustain a compound annual growth rate (CAGR) exceeding 7% over the next 5 years.
The 2002 introduction of Cordis’ CYPHER DES in Europe was a landmark event for interventional cardiologists, and has since catapulted DES sales along with Boston Scientific’s TAXUS, which was launched the following year. DES have shown remarkable clinical advantages in reducing restenosis and target vessel failure rates when compared to their bare-metal stent predecessors. Although still limited by a premium price and reimbursement lags in certain European regions, the penetration of DES units will be rampant in upcoming years, particularly as more products are approved, new indications are received, and more complex cases are able to be treated. The European DES market will grow at a CAGR of over 15% through to 2009.
MRG’s European report is part of its Global Markets for Interventional Cardiology series, which also includes analysis of the US, Japan, Latin America, and Asia Pacific. The series covers over 50 key industry competitors including Abbott Vascular (ABT), Biotronik, Boston Scientific (BSX), Cordis (JNJ), Guidant (GDT), Medtronic (MDT), Sorin Biomedica, St. Jude Medical (STJ), and Terumo.
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.
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