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June 30, 2005
Innovation Drives European Transcatheter Embolization and Occlusion Market Growth
According to a report published by Millennium Research Group (MRG), the European market for transcatheter embolization and occlusion (TEO) devices, including embolization coils and particles, liquid embolics, coiling-assist devices, guidewires and catheters, and heart defect closure devices, generated over $125 million in 2004.
June 30, 2005—Europe’s aging population is increasingly susceptible to cancer and cardiovascular disease, generating a growing demand for effective medical treatments. Medical manufacturers have responded with the development of a range of new embolization and occlusion technologies to treat aneurysms, uterine fibroids, tumors, and a host of other conditions.
According to a report published by Millennium Research Group (MRG), the European market for transcatheter embolization and occlusion (TEO) devices, including embolization coils and particles, liquid embolics, coiling-assist devices, guidewires and catheters, and heart defect closure devices, generated over $125 million in 2004.
Despite the limitations imposed by physician referral patterns, minimal reimbursement, and the absence of long-term clinical data, the continuing adoption of innovative, premium-priced devices, such as endovascular cerebral aneurysm coils, microspheres, and heart defect closure devices, will support 10% annual TEO market growth through 2009.
MRG’s European Markets for Transcatheter Embolization and Occlusion Devices 2005 examines the innovations transforming interventional neuroradiology (INR), peripheral vascular (PV), and interventional cardiology (IC) procedures across Europe. The report identifies the technologies that will drive revenue growth over the next five years and the competitors poised to capitalize on these opportunities.
As the leader in multiple segments of the TEO market, Boston Scientific currently holds—and should maintain—a distinct competitive advantage in Europe. Thanks to the strong performance of its Amplatzer heart defect closure devices, AGA Medical trailed only Boston Scientific in total European TEO revenues in 2004. MRG’s new report also examines other key competitors in the TEO market, including Cordis, Micro Therapeutics, Inc., Terumo, Micrus Corporation, Cook, Microvention, Inc., Cardia, Inc., BioSphere Medical, NMT Medical, Balt, W.L. Gore, and ev3.
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Contact Information:
Derrick Navarro
Millennium Research Group Inc.
(416) 364-7776 ext. 133
e-mail protected from spam bots
www.mrg.net
Posted by Industrial-Manufacturing at June 30, 2005 02:44 AM