European Interventional Cardiology Device Revenues Declined in 2014 Due to Price Erosion
The Trend Toward Large-Scale Purchasing is Leading to Consolidation Among Competitors, According to Findings from Decision Resources Group
BURLINGTON, Mass., Nov. 20, 2014 /PRNewswire/ -- Decision Resources Group finds that the European interventional cardiology (IC) device market will continue to be strongly limited by price declines, despite the growing popularity of premium-priced products such as bioresorbable vascular scaffolds and polymer-free stents. Price decreases are largely attributed to the cost-conscious environment in Europe as a result of ongoing economic concerns. As a result, the market declined notably in 2014.
Other key findings from Decision Resources Group's coverage of the European IC device market:
- Regional tenders in Italy: Price declines were particularly evident in Italy in 2014 due to the renewal of many large-scale regional tenders that year. Regional tenders are becoming increasingly common in Italy as a way to drive down prices, which have traditionally been higher in the country.
- Price declines in Spain: Spain is also engaging in tactics to reduce pricing by better coordinating purchasing across hospitals. Because purchases were previously organized by individual health care facilities in Spain, prices were higher than in countries where group purchasing is common, such as Germany.
- FFR guidewire market: The fractional flow reserve (FFR) guidewire market received a boost in 2014 when the European Society of Cardiology updated its guidelines, emphasizing the need for FFR guidewires. Furthermore, reimbursement has recently improved in Germany, which generates the majority of revenue in the overall IC device market due to its large population.
Comments from Decision Resources Group Analyst Leila Bautista:
- "As a result of the increasing trend toward large-scale purchasing, companies are attempting to expand their portfolios to offer a full suite of products, which has resulted in considerable consolidation in the IC competitive landscape. Examples include Medtronic's proposed acquisition of Covidien, Spectranetics' acquisition of AngioScore and the merger of Alvimedica and CID Vascular."
- "The FFR guidewire market is attracting a number of new competitors. ACIST Medical Systems launched a new guidewire in 2014, and Opsens is also expected to launch a FFR guidewire in the next few years. Boston Scientific is also predicted to enter this market through a joint venture with ASAHI INTECC."
Additional Resources:
- Leila Bautista has written a Medtech 360 report on this subject entitled European Markets for Interventional Cardiology Devices 2015.
- Decision Resources Group's Marketrack, which provides market share data by brand for the IC device market, can be found here.
- Louise Murphy has written a blog on the subject, which can be found here.
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.
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Decision Resources Group
Christopher Comfort
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SOURCE Decision Resources Group
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