Professional Documents
Culture Documents
Devices Market
- Cardiac Surgery, Cardiac Rhythm Management, Valvular Heart Disease, Vascular
Closure, Cardiac Surgery, CABG, Market Research, Cardiology Medical Devices,
Market Size, Market Share, Global Trends & Competitive Analysis, Forecast 2014-2020
About Us:
Occams Business Research (Occams) is a global provider of consulting and information services
that combine data refining, expert analysis and application-based client focused reports. We are a
team of industry experts and our trademark is; relevant, detailed research reports with
unsurpassed synthesis of data points into decision-making tools for the rapidly growing
marketplace. These allow users to achieve return on investment in a limited time frame. Our
research spans multiple service areas, industry verticals and geographies. We customise reports to
meet your unique requirements and also provide consulting services.
Try us and you will like to be with us always!
We are Different:
As our deliverables are deeply researched, consistent, focused and simply stated
Occams Razor
Occam's (or Ockham's) Razor is a principle attributed to the 14th century logician and
Franciscan Friar William of Ockham.
multiplied unnecessarily." Choose the simplest theory over a complex one to explain a
phenomenon as it is going to be the most accurate one. We, at Occams, believe in the Occams
principle and apply the same to our deliverables so that our clients are not lost in multiple and
complex analysis. We aim to deliver accurate and relevant analysis in a very simple but
comprehensive yet interesting format.
-2-
TABLE OF CONTENTS
1.
EXECUTIVE SUMMARY
2.
2.1.
INTRODUCTION
2.2.
2.2.1.
SUPPLIERS
2.2.2.
MANUFACTURERS
2.2.3.
DISTRIBUTERS
2.2.4.
RETAILERS
2.2.5.
END USERS
2.2.5.1.
DIAGNOSTIC CENTERS
2.2.5.2.
HOSPITALS
2.2.5.3.
PATIENTS
2.3.
2.4.
2.4.1.
OBJECTIVE
2.4.2.
PRICE
2.4.3.
TECHNOLOGY
2.4.4.
AVAILABILITY
2.4.5.
HEALTH CONCERN
3.
MARKET DETERMINANTS
3.1.
KEY MOTIVATORS
3.2.
KEY RESTRAINS
3.3.
KEY OPPORTUNITIES
-3-
3.4.
4.
4.1.
KEY CHALLENGES
MARKET SEGMENTATION
TYPE OF CARDIAC SURGERY
4.1.1.
4.1.2.
4.1.3.
4.1.4.
ARRHYTHMIA TREATMENT
4.1.5.
ANEURYSM REPAIR
4.1.6.
HEART TRANSPLANT
4.1.7.
4.2.
SURGICAL APPROACHES
4.2.1.
OPEN-HEART SURGERY
4.2.2.
4.2.3.
4.3.
4.4.
4.4.1.
IMAGING DEVICE
4.4.1.1.
STILL IMAGING
4.4.1.2.
4.4.2.
CARDIOVASCULAR STENT
4.4.2.1.
STENT GRAFT
4.4.2.2.
4.4.3.
CATHETER
4.4.4.
4.4.5.
SURGICAL DEVICES
4.4.6.
MONITORING DEVICES
-4-
5.
COST ANALYSIS
5.1.
COST OF SURGERY
5.2.
5.3.
RECOVERY
6.
MARKET STRATEGIES
6.1.
KEY STRATEGIES
6.2.
6.3.
STRATEGIC RECOMMENDATION
7.
MARKET SHARE
7.1.
7.2.
KEY STRATEGIES
8.
8.1.
GEOGRAPHY ANALYSIS
NORTH AMERICA
8.1.1.
U.S.
8.1.2.
CANADA
8.2.
EUROPE
8.2.1.
UK
8.2.2.
GERMANY
8.2.3.
ITALY
8.2.4.
FRANCE
8.2.5.
SPAIN
8.2.6.
ROE
8.3.
APAC
8.3.1.
CHINA
8.3.2.
JAPAN
-5-
8.3.3.
INDIA
8.3.4.
SOUTH KOREA
8.3.5.
TAIWAN
8.3.6.
ROA
8.4.
9.
ROW
PATENT ANALYSIS
9.1.
9.2.
10.
CORPORATE PROFILE
10.1.
ABBOTT CARDIOVASCULAR
10.2.
10.3.
10.4.
COOK MEDICAL
10.5.
MEDTRONIC. INC
10.6.
TOSHIBA CORP
10.7.
COVIDIEN
10.8.
10.9.
10.10.
10.11.
LOMBARD MEDICAL,
10.12.
ATRICURE INC.,
10.13.
10.14.
10.15.
10.16.
10.17.
10.18.
10.19.
HANSEN MEDICAL,
10.20.
BERLIN HEART,
10.21.
CAMBRIDGE HEART
-7-
TABLE LIST
TABLE1.
TABLE2.
TABLE3.
TABLE4.
TABLE5.
TABLE6.
TABLE7.
TABLE8.
TABLE8.
TABLE9.
TABLE10.
TABLE11.
TABLE12.
TABLE13.
TABLE14.
TABLE14.
TABLE15.
TABLE16.
TABLE17.
TABLE18.
-8-
-9-
FIGURES LIST
FIGURE1
FIGURE2
FIGURE3
FIGURE4
FIGURE5
FIGURE6
FIGURE7
FIGURE8
FIGURE9
FIGURE10
FIGURE11
FIGURE12
FIGURE13
FIGURE14
FIGURE15
FIGURE16
- 10 -
Chap# 1.
INTRODUCTION
The global market of cardiovascular surgical devices is expected to grow at CAGR of xxx % from the
year 2014 to the year 2020. The surgical devices market includes wide range of devices which are
used in surgery and for the surgery such as Imaging devices, cardiovascular stents, Catheter,
Cardiac rhythm management devices, Monitoring devices and conventional surgical tools. There
are different types of cardiovascular surgeries for which different surgical approaches and devices
are required. Report includes Coronary Artery Bypass Grafting (CABG), Transmyocardial Laser
Revascularization (TMR), Heart Valve Repair or Replacement, Arrhythmia Treatment, Aneurysm
Repair, Heart Transplant and Surgery to Place Ventricular Assist Devices or Total Artificial Hearts.
Surgical approaches for these surgeries are Open-Heart Surgery, Off-Pump Heart Surgery and
Minimally Invasive Heart Surgery
US is the largest market for the Cardiovascular surgery devices with 46% of global share. Europe
has captured 27% of market share in the cardiovascular surgery devices. APAC has largest growth
in the market which mainly comes from the China and Japan.
TABLE # 1
Cardiology
Surgical
2013
2014
2015
2016
2017
2018
2019
2020
CAGR
Stent Grafts
1250.00
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
CRDM
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Catheters
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Surgeries
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
10%
Imaging
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Structural
Heart
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Total
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
- 11 -
# 1.1.
# 1.1.1.
According to W.H.O. people above the age of 50 years are more prone to heart diseases such as
CVD, CHD, stroke and other heart diseases. W.H.O. predicted that by 2030, 23.3 million people will
lose their lives due to CVD, CHD and other heart diseases. Globally, CVD are considered to be the
leading cause for fatalities. According to W.H.O. it is estimated that in 2014, 17.3 million fatalities
are caused annually due to CVD and other heart diseases. Around 80% of the fatalities are
attributed to CVD in low and middle income nations.
The prevalence of heart diseases globally increases the demand for interventional cardiology
surgeries. The cardiology surgeries are costly and have some risk factor attached - there is 3-5%
probability of patients death. The global increase in life style oriented diseases has indirectly put
pressure on the economies of the nation. The patient alone does not bear the cost of the treatment.
The funding comes from the government health programs, reimbursement policies and health
insurances to enable the patient for getting treatment.
The increase in life style oriented diseases and fatalities due to it create demand for the surgeries
and medical devices. The healthcare companies such as Medtronic, Abbott and Johnson & Johnson
contribute in the cardiology surgeries and medical devices to balance their portfolio. In the present
scenario with increase in CVD, CHD and other heart diseases the healthcare companies are focusing
on emerging economies such as India and China. In the emerging markets the economic growth is
also increasing and giving rise to the demand for better healthcare system.
According to World Heart Federation, national economies are burdened due to the impact of CVD
and other heart diseases. The global direct cost on CVD is estimated to be $470 billion. The burden
is increasing for the developing countries; China spends $40 billion (2013) annually on direct
health costs related to cardiovascular disease which is around 4% of the gross national income. The
U.S. spends highest on CVDs. According to Centers for Disease Control and Prevention, US spends
more than $108.9 billion(2013) annually.
- 12 -
FIGURE # 1
600
cancer
590
150
Stroke
140
Unintentional injuries
130
Alzheimer's disease
80
Diabetes
70
50
50
Suicide
40
0
100
200
300
400
500
600
700
The increase in fatalities due to cardiac related diseases has triggered the cardiology surgery
market to grow. There is various heart surgeries performed by the surgeons, globally. The most
common surgeries are CABG, TLR, heart valve repair and replacement, arrhythmia treatment,
aneurysm repair, heart transplant, MIS and open heart surgeries. The cases of strokes and heart
attacks are also increasing; in US alone out of 0.92 million patients 0.25 million people lose their life
due to sudden strokes and heart attack annually.
- 13 -
# 1.2.
FACT SHEET
S.No.
Particular
Size
17.3 million
23.3 million
80 %
4 million
1.9 million
# 1.2.1.
MEDICAL TOURISM
People from developed nations are travelling to low and middle income countries for better and
economical treatments for cardiological and other heart related treatments. The common
destinations for medical tourism are Thailand, India, Mexico, Malaysia, Cuba, Brazil and Argentina.
Medical tourism is most preferred to get quality treatment in economical prices. However, it is not
advised for a patient to travel for 10 or more days when the surgery is critical
such as
interventional cardiology surgeries. The doctors and hospital authorities always advice the patients
to take safety measures and precautions while medical tourism.
In India, the cost of heart surgeries such as artery-clearing coronary bypass surgery cost around
$1583 in US the cost is around $106385 (2013)at Ohios Cleveland clinic. The disparities in the cost
of treatment stimulate the patient to move to the places for quality and economical treatment.
TABLE # 2
S.No.
Price in India
Price in US
$166
$500
$11666
$50000
Heart implantation
CABG surgeries
$5000 to $7000
$30000
$1600 to $2000
$20000 to $100000
Coronary angiogram
$600
$4000
- 14 -
S.No.
Type of surgery
Price in India
Price in US
$6000
$16000
Pacemaker
$5000
$16000
# 1.2.2.
- 15 -
# 1.3.
According to National Center for Policy Analysis (NCPA), healthcare spending has been increasing
globally due to expensive healthcare product and services. According to Organization for Economic
Cooperation and Development (OECD) the healthcare spending will continue to increase over the
next 50 years. The size of aging population is increasing resulting in increase in consumption of
healthcare services. In Spain, Canada and Austria the share of elderly population will double by
2025. The government healthcare expenditures are growing faster than the growth of the economy
in all developed nations. Per capita government spending on healthcare is highest in Norway
(5.3%), followed by the U.S. (5.1%) and Spain (5.1%). However developed nations have a relatively
lower spending such as Sweden and Canada have (2.6% and 3.1%) respectively. According to
NCPA, by 2050 the US government will spend one third of its GDP in healthcare system.
Geographically, North America and Europe spends highest in healthcare across the world. The
healthcare spending in the per capital U.S has been considerably improved over the years and
increased to $8895(in 2014) from $8467(in 2010). Moreover, France has increased the healthcare
spending to $4690 per person in2014 and has the finest healthcare all over the world. Europe has
been adopting latest healthcare system to provide better care and treatment to the patients.
Overall the healthcare spending has increased in developed and developing countries. According to
the World Bank, following are the health expenditure per capita spending globally.
TABLE # 3
S.No.
Country
Healthcare spending in
2010
Healthcare spending in
2014
US
$8467
$8895
Canada
$5656
$5741
Uruguay
$1213
$1308
Venezuela
$487
$593
San Marino
$3553
$3792
Chile
$1022
$1103
Japan
$4641
$4752
- 16 -
# 1.4.
Many hospitals, NGOs, government schemes, private organizations contribute in increasing the
awareness for healthy life style. Such organizations encourage patients to opt for surgeries if
required to avoid unfavorable consequence. Medtronics co-founder encourages the survived
patients to contribute in making awareness and do philanthropy for the noble cause. The company
granted $0.2 million to heroes and cool kids program which serves more than 0.2 million kids each
year. Such philanthropy and awareness programs are increasing and giving rise to more surgeries
each year. The nonprofit organizations also play important role in creating awareness for heart
diseases. Many social campaigns, social events and other competitions are executed by big
companies as part of CSR program.
# 1.5.
Technology plays an important role in healthcare domain. In the present scenario, interventional
cardiology surgeries have been equipped with robotic surgeries and 3D virtual reality technologies.
The last technology gets replaced by the innovative and enhanced technology in quick succession.
The outcome of research and development is lucrative for the healthcare companies and utilitarian
for the user. Technology eases the critical surgeries and operations.
The robotic surgeries such as minimally invasive surgeries were approved by US FDA in 2001.
However, it is being widely used since 2005 in various nations such as US, Canada, UK and Japan.
The minimally invasive surgeries enable surgeons to perform complex heart surgeries efficiently
and effectively. This technological advancement created huge scope in interventional cardiology
surgeries. Minimally invasive direct coronary artery bypass surgery (MIDCAP) enables the
surgeons to make small incision in the concerned section of heart. However, in some critical cases
of diseased vessel, this technique is avoided by the surgeons for safety. There are various other
surgeries being performed through minimally invasive surgery method. Surgeries for prostate
cancer, artery bypass, valve repair and replacement, arterial fibrillation, implantation of epicardial
pacing wires to boost the pumping action of heart in stroke cases and so on can be performed
effectively.
Interventional cardiology companies such as Medtronic, Abbott uses technology as a tool for
market growth. Medtronic in January 2015 offered SmartShock technology for the treatment of
patient through implantable cardiac devices. The latest device enables the clinicians to track
patients health with proactive results. As the technology advances it increases the utility of the
medical product and eases the medical procedures for the doctors.
# 1.6.
FDA is responsible for assuring the safety and effectiveness of medical devices. If any casualty is
registered due to approved devices, FDA looks into the matter very quickly and the panel takes
necessary actions. FDA ensures medical device innovation and accelerates patient access to high
quality medical devices. It uses a variety of approaches including promotion and adoption of
certain standards. In some inspection programs, utilization of post market surveillance is done by
FDA. Philips received 510(K) clearance from the US FDA to offer its precision planning application
for transcatheter aortic valve implantation treatment (TAVI) The FDA advisory panel meticulously
test and analyze the medical devices and drugs to ensure user safety. In the previous year FDA
approved many critical surgeries and medical devices. Following are some of the devices approved
by FDA in 2014.
TABLE # 4
S.No.
Company name
Category
Medtronic
Percutaneous
Transluminal
Angioplasty (PTA)
Balloon Catheter
EverFlex
Stent
Lutonix
Angioplasty
Xience
Stent
- 18 -
S.No.
Company name
Category
Sorin
Edwards
Heart valve
Medtronic
Medtronic
Pacemaker/Defibrillator
- 19 -
DISCLAIMER:
The information on this site is provided for general reference purposes only. Whilst every effort is
made to ensure that the site is up to date and accurate, OBRC does not guarantee nor does it accept
any responsibility or liability for the accuracy or completeness of the content. Links to other sites
are provided for your convenience but OBRC accepts no responsibility or liability for the content of
those sites or of any external site which links to this site. The information on this Website is for
information purposes only. It is believed to be reliable, but we do not warrant its completeness,
timeliness or accuracy. User accesses, uses, and relies upon such content at User's own risk
Neither OBRC nor any other party involved in creating, producing or delivering this Web site is
liable for any direct, incidental, consequential, indirect or punitive damages.
- 20 -
www.occamsresearch.com
- 21 -