European Interventional Cardiology Market Declines in 2018 as a Result of 3 Key Market Factors – New Study by iData Research
VANCOUVER, B.C. (PRWEB) March 21, 2018 -- According to a new series of reports by iData Research (http://www.idataresearch.com), the total European market for interventional cardiology devices was valued at approximately €1.2 billion in 2017, an apparent decrease over the previous year. The growth of the European markets for interventional cardiology devices, which historically were boosted by growing angioplasty and angiography procedure numbers, will continue to experience declines due to three major market factors.
Similar to other medical device markets, the first factor impacting the interventional cardiology market is the consolidation seen in recent years. Large competitors are either entering the market for the first time or expanding their reach through strategic mergers and acquisitions. One trend identified in the latest research by iData, which has risen as a result of consolidation, is the bundling of devices at a discount, causing a decline in ASPs. This is further amplified by the adoption of a more competitive tender system across Europe.
Request a Free Sample of this New Interventional Cardiology Market Report from iData Research
“Bundling is driven by larger competitors, who have a wide variety of devices and can negotiate more cost-effective contracts with hospitals and labs, as a response to unfavorable reimbursement conditions,” explains Kamran Zamanian, President and CEO of iData Research.
The second key factor impacting this market is the minor growth in procedure volumes. Newer technologies such as computed tomography (CT), optical coherence tomography (OCT) and magnetic resonance imaging (MRI) are becoming more efficient in diagnosing cardiovascular diseases. These higher-resolution technologies are expected to perform better at identifying cardiovascular disease on the first try, alleviating the need for a second procedure thus limiting the total number of diagnostic procedures performed.
The third factor observed is the decrease in device usage per procedure, sustained by enhancements made to medical devices and cardiologists’ best practices. While there is minor growth in the volume of procedures, this effect is clearly offset by the other factors limiting the market.
Boston Scientific is Europe’s leading competitor with over one-quarter of the market share for interventional cardiology devices. They are the market leader in several segments, including coronary balloon catheters, coronary embolic protection devices and coronary atherectomy devices. Boston Scientific’s wide range of devices and complementary products for interventional cardiology, has allowed them to maintain their dominant position against closest competitor, Abbott. Abbott holds leading positions in the interventional coronary guidewire, coronary stent, FFR guidewire (within the diagnostic coronary catheters and guidewires market) and OCT catheter markets.
For Further Market Information
More can be found in a series of reports published by iData Research entitled the Europe Market Report Suite for Interventional Cardiology Devices 2018. This research includes coronary stents, coronary balloon catheters, interventional coronary catheters and guidewires, introducer sheaths, coronary embolic protection devices, coronary atherectomy devices, coronary vascular closure devices, diagnostic coronary catheters and guidewires, coronary intravascular ultrasound (IVUS) catheters and coronary optical coherence tomography (OCT) catheters.
iData’s suite of reports on this subject covers the United States, Japan, and 15 countries in Europe. These include a comprehensive analysis on units sold, market values, average selling prices, forecasts, procedure data, as well as detailed competitive market shares and analysis of all major players. In addition, the research includes product assessments, product pipelines, recalls as well as SWOT analyses.
Email us at info(at)idataresearch(dot)net or register online for a Europe Market Report Suite for an Interventional Cardiology Devices 2018 brochure and free sample.
About iData Research
iData Research is an international consulting and market research firm, dedicated to providing the best in market intelligence for the medical device industry. Their research empowers their clients by providing them with the necessary tools to achieve their goals and do it right the first time.
Joel Harrison, iData Research, https://idataresearch.com, 604 266 6933, [email protected]
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