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Cardiovascular Surgical Devices: Technologies and Global Markets

  • September 2016
  • 188 pages
  • BCC Research
Report ID: 1863184

Summary

Table of Contents

Use this report to:
- Learn about the trends and developments affecting each type of cardiovascular surgical technology
- Analyze trends and opportunities in major regions: North America, Europe, Asia and the rest of the world (ROW).
- Gain insight into the different factors affecting cardiovascular surgery and the manufacture of cardiovascular devices.
- Receive information about recent developments, alliances, joint ventures, mergers and acquisitions.

Highlights
- The global market for cardiovascular surgical devices is expected to grow from nearly $37.0 billion in 2015 to $57.2 billion in 2020 at a compound annual growth rate of 9.4% from 2015-2020.
- The interventional cardiovascular surgery devices market is expected to grow from nearly $12.6 billion in 2015 to $21.2 billion in 2020 at a CAGR of 11.0% for the period 2015-2020.
- Cardiac ablation systems over the next five years will grow from nearly $2.4 billion in 2015 to $4.5 billion in 2020 at a CAGR of 13.8% for the period 2015-2020.

Introduction & Scope

INTRODUCTION

STUDY GOALS AND OBJECTIVES
The goals of this study are to explore the different factors affecting cardiovascular surgery and the manufacture of cardiovascular devices, as well as to quantify the
market for various segments of the cardiovascular device market. Cardiac surgery is increasing globally, with the contribution of macroeconomic factors such as aging populations, increasing rates of obesity, poor nutrition and other health stressors. In recent years, new technologies have been developed that make sophisticated therapies accessible for patients in previously underserved locations. Whether through disease, congenital defects or degradation of cardiac and vascular function with advancing age, the incidence of cardiovascular disease is growing dramatically, substantiating the continued growth in cardiovascular surgical
procedures.

REASONS FOR DOING THIS STUDY
The American Heart Association, in its publication Heart Disease and Stroke Statistics, 2016 Update At-A-Glance, estimates that 98 million American adults will have one or more types of cardiovascular disease. Surgery represents the most effective therapy for advanced cardiovascular conditions. Recent innovations such as minimally invasive procedures, “beating heart” surgeries, ventricular assist devices and artificial hearts, replacement valves and treatments for hypertension such as renal denervation offer therapeutic options that result in shorter recovery times and reduced complication risks. Newer cardiovascular devices and therapeutic techniques will play an increasing role in enhancing quality of life for a growing elderly population, as well as patient groups with poor cardiac function. The ability of government-run health agencies and private insurance providers to cope with the increased need for cardiovascular procedures, together with rising healthcare costs, have led agencies and insurers to closely evaluate their coverage for cardiovascular surgical procedures and continually seek out lower-cost but still efficacious options.

This report will identify areas of growth within the cardiovascular surgical device market and discuss innovative technologies that have been recently launched or are
presently under development. Market growth rates will be projected based on manufacturers’ net revenues, unless otherwise indicated.

This report is designed to achieve the following objectives:
Describe l the trends and developments affecting each type of cardiovascular surgical technology and discuss how each addresses market needs.
- Analyze market demand, competitive dynamics and regulatory/reimbursement-related factors to project the market size for each technology and highlight target applications.
- Study intensively market growth by geography. Analyze trends and opportunities in major regions: North America, Europe, Asia and the rest of the world (ROW).
- Identify major stakeholders, product portfolio and recent developments, and draw a competitive landscape for the market leaders.
- Track and analyze recent developments, alliances, joint ventures, mergers and acquisitions, and patents of the market players in the industry.
This report is designed to appeal to many types of readers, including marketing and management executives within the medical device industry, venture capital
professionals interested in exploring commercialization opportunities and anyone else who would like to better understand how market factors and technologies interact in this industry.


SCOPE OF REPORT
The scope of this study encompasses multiple technologies and procedures related to cardiovascular surgical devices. The study focused primarily on four categories of cardiovascular surgery: traditional (open), interventional, cardiac rhythm management (CRM) and cardiac ablation procedures. These procedure groupings are categorized logically so that comparisons can be made within procedural groups as well as across the cardiovascular surgical devices industry as a whole. Note that carotid artery surgery related to stroke, abdominal aortic aneurysm (AAA) surgery to correct aortic aneurysms, and surgical and stenting procedures designed to address peripheral vascular disease are not addressed in detail in this report. BCC Research analyzes the industry on a worldwide basis from market, product and
technology perspectives. Regulations and reimbursement issues and patents issued from 2011 through mid-2016 are also examined to identify patient safety, regulatory review and insurance coverage issues for stakeholders and potential stakeholders in this industry.

The report examines the cardiovascular surgery device industry in general, the types of technologies currently in use as well as future technological developments, and regulatory influences that affect product distribution. The industry structure section discusses the most active manufacturers with respect to relative market share, marketing strengths and forces that promote or hinder the growth of technologies. The technology sections detail historical (2014), and projected (2015 to 2020) market values.

METHODOLOGY
BCC Research presents an analysis across the entire cardiovascular surgical device market based on company-specific revenue dollars and units shipped as reported to the U.S. Securities and Exchange Commission (SEC) and/or other governmental agencies, as well as company information such as conversations with company officials, annual reports and product/financial news releases. The report also analyzes data collected from the United States Patent Office (USPTO) databases. Technological and demographic information is gathered from industry sources, governmental sources and published news reports. A top-down approach was used to estimate the market size of cardiovascular surgical devices. The research methodology used to calculate market size also included the following details:
Market l revenues of key players were determined through primary and secondary research, including a study of the annual reports of top market players, and
interviews with key opinion leaders and corporate heads such as chief executive officers (CEOs), directors, product heads, business unit heads, etc.

- Secondary research included general search by keywords through paid sources such as Factiva and One Source, and other publicly available websites and company
websites.
- The penetration of micromarkets was established through primary and secondary sources and validated through primary sources.
- The forecast was based on analysis of market trends such as pricing and volume analysis.
- The regional split was determined by using secondary sources verified through primary sources.
- The regional split was based on various parameters such as the number of players in a particular region, the extent of research activity occurring in that region and
potential growth (e.g., scope for increase in number of laboratories).

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