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Western European Markets for Peripheral Vascular Products
Frost & Sullivan, Dec 2010, Pages: 119
The objective of this research service is to provide detailed analysis of the largely stable European peripheral vascular products market. This service provides an in-depth analysis of the market split into five segments –PTA Catheters, endovascular catheters, endovascular guidewires, embolic protection devices (EPD) and Vascular closure devices (VCD). The research service discusses revenues, market share analysis and the competitive landscape on a broader view. It also provides strategies for companies involved in the Peripheral vascular products market. Additionally, the research service provides decision support databases related to hospital resources and healthcare expenditure.
This research service titled Western European Markets for Peripheral Vascular Products offers a comprehensive overview of market developments including key drivers and restraints and challenges. In this research, Frost & Sullivan's expert analysts thoroughly examine the following product segments: peripheral vascular stents and stent grafts, percutaneous transluminal angioplasty (PTA) catheters, endovascular catheters, guidewires, vascular closure systems (VCD) and embolic protection devices (EPD).
Market Overview
Emphasis on Infection Control and Developments in Angioplasty Support Uptake
Infection control strategies and the rising demand for single-use medical devices are boosting the use of peripheral vascular products in western Europe. At the same time, developments in imaging technology that are boosting the efficiency of angioplasty procedures are further advancing market prospects. “Overall surgical procedure numbers are escalating throughout Europe, with single-use medical devices being largely used in hospitals and as part of surgical procedures,” states the analyst. “The rise in the number of surgical procedures correlates positively with the increase in the use of single-use medical devices in the near future, boding well for peripheral vascular products.”
Conventional X-ray fluoroscopy has been the standard approach used by interventional cardiologists or radiologists during procedures. Currently, digitalised cath labs have revolutionised the way interventional practitioners look at the organ or vessel. Developments in imaging technology include improved contrast with lower doses of radiation and enhanced resolution. The introduction of intravascular ultrasound enables precise navigation of the balloon catheter through the vasculature. Additionally, they also aid in accomplishing proper dilation of the artery and in characterising the plaque. These supporting domains are continuously under the influence of technological developments that enhance the efficiency of the interventional procedures. Such advances are set to have a positive impact on market growth.
Achieving Product Differentiation and Keeping Ahead of the Technology Curve will Pose Challenges
One of the major challenges is gaining distinction among end users, despite the lack of significant differentiation among the number of products currently in the market. Due to the similarity of products, many surgeons tend to make selections based on the familiarity of a specific brand name. “Interventionalists are by no means myopic with their device selection; they do not see a significant margin of distinction between the newer devices and their preferred device to warrant usage,” states the analyst. “If presented with a device with appreciable benefits and notable clinical benchmarks, it is likely they would not hesitate to incorporate the newer technology.” The rapid pace of technology evolution demands high investments in R&D. Certain product segments included within the western European market for devices used to treat peripheral vessel disease are notable for the rapid pace of technological development and the speed with which new products are launched. Companies that are unable to keep pace with such changes are likely to experience diminishing market shares. R&D and the acquisition of small companies known for their innovative excellence are both commonly used strategies that enable companies to bring new technology to market and gain market share.
Due to the wide range of devices with similar features available in the market, being able to develop a technologically advanced product line is critical to success. Most importantly, given the inordinate length of time it takes to design a device, gain regulatory approval and the resulting encumbered speed to market, most participants want to ensure that they maximise their market penetration. “Launching a new device with only a marginal benefit over existing products on the market might only have a slight impact, ensuring a firm gets inadequate return on its investments,” concludes the analyst. “However, instead of launching a ‘me-too’ device, a product offering significant leap in terms of technology would create significant industry buzz and accelerate its adoption in the market. Firms need to make themselves aware of the features that will best serve the market six to seven years down the line.”
Market Sectors
Expert analysts thoroughly examine the following market sectors in this research:
- Peripheral vascular stents and stent grafts
- Percutaneous transluminal angioplasty (PTA) catheters
- Endovascular catheters
- Endovascular guidewires
- Vascular closure systems (VCD)
- Embolic protection devices (EPD)
By Geographic Area:
- United Kingdom
- Germany
- France
- Italy
- Spain
- Scandinavia (Denmark, Sweden, Norway and Finland)
- Benelux (Belgium, the Netherlands and Luxembourg)
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