Here's coverage of an independent report by Frost & Sullivan that pegs the implantable cardiovascular device market at $4 billion by the time the HeartSaver rolls into production. Many of the companies mentioned in the report are into other devices: pacemaker leads, heart valve therapy, etc:
Dec 10, 1996
Implantable Cardiovascular Device Markets
Keeping a Strong Pulse
SILICON VALLEY, Calif. -- Cardiovascular disease is the number-one
killer in the United States, claiming more than 954,000 lives annually. The members of the elderly population run the highest risk of being afflicted, and as that population grows, cardiovascular diseases will have an even greater human and economic impact.
The products of the implantable cardiovascular device market play an
important role in fighting heart disease, and, according to strategic
research by the international marketing consulting firm, Frost & Sullivan, the market is expected to expand from $1.7 billion in 1995, to over $4 billion in 2002.
In her strategic research on the U.S. Implantable Cardiovascular Device Markets, Frost & Sullivan medical analyst Vera Pesotchinsky finds that technological innovations, as well as increased demand, are the keys to the growth of the industry.
"The older a patient is, the greater the risk of mortality or complications from invasive surgery," says Pesotchinsky. "As a result, the industry is developing devices which allow for less-invasive procedures, which will alleviate the risks of complications related to cardiovascular surgery."
Companies are devoting substantial resources to the research and
development of cardiovascular devices, resulting in products that are
smaller, more user-friendly and less invasive.
"Innovative products are being developed which address therapeutic
needs not previously addressed by this market," Pesotchinsky says.
Despite the significant cost of products such as left ventricular assist devices, the quality that the products add to the patients, lives and the healthcare dollars saved over the long haul outweigh the expense.
Market trends seen in the implantable cardiovascular device market can
generally he traced back to the changes in the U.S. healthcare
environment. Cost containment and cost efficiency are hot topics in the healthcare industry, and the makers of cardiovascular devices are trying to stay in step with these trends by positioning themselves through effective marketing. Acquisitions are consolidating the industry, allowing manufacturers to expand product lines and reduce overhead costs.
Products introduced into this market that are easy to use and provide
therapeutic benefits are usually well-received. Because many budgets
throughout the healthcare industry are tight,proving cost-effectiveness is another way to ensure the success of a product.
Examples of implantable cardiovascular devices include: pacemakers,
pacemaker leads, defibrillators, defibrillator leads, left ventricular assist devices and heart valve therapy products (mechanical heart valves, tissue heart valves and annuloplasty rings).
Companies participating in this market include: ABIOMED Inc., Angeion
Corporation, Baxter Healthcare Corporation Edwards CVS Division,
Baxter Healthcare Corporation Novacor Division, Baylor College of
Medicine, Biotronik Inc., CarboMedics Inc., Cardiac Control Systems
Inc., CardioWest Technology, Cook Pacemaker Corporation (CPC),
ELA Medical Inc., Guidant Corporation Cardiac Pacemakers Inc. (CPI),
InControl Inc., Intermedics Inc., Jarvick Research Inc., Medtronic Inc., Nimbus Inc., Oscor Medical Corporation, Pacesetter Inc., St. Jude Medical Inc., Telectronics Pacing Systems Inc., Thermo Cardiosystems Inc., Thoratec Laboratories Corporation, Vascor Medical Corporation, Ventritex Inc., Whalen Biomedical Inc., Baxter Heathcare Corporate, C.R. Bard Inc., Cook Inc., CV-Dynamics Inc., Eclipse Surgical Technologies Inc., Eli Lilly & Company, Guidant Corporation, Guidant Corporation Heart Rhythm Technologies Inc., Heartport Inc.,
Hewlett-Packard Medical Products Group, Leocor. |
