TORONTO, Jan. 16, 2013 /PRNewswire/ -- According to two different reports from Millennium Research Group (MRG), the global authority on medical technology market intelligence, the overall European market for peripheral vascular devices will grow strongly through 2017, reaching $1.3 billion by 2017. While cost-conscious European healthcare systems will limit selling price increases, peripheral vascular disease (PVD) has been underdiagnosed and undertreated. Increases in endovascular procedures, along with innovations such as drug-coated balloons (DCB), aortic stent grafts and chronic total occlusion (CTO) crossing devices, will support revenue growth.
DCBs have entered the European market only recently. They have started to increase in popularity, and their adoption will increase significantly after 2015 as reimbursement for these devices spreads across Europe. This will significantly increase market value, as DCBs carry much higher selling prices than standard balloons. DCBs will also steal some market share from stents, since they are seen as a viable alternative to stenting.
CTOs are blockages that can hinder endovascular treatment because they block access to the treatment site. Physicians are becoming more adept at crossing these occlusions and companies are marketing specialized tools to help, including products from Cordis, Boston Scientific, Avinger, C. R. Bard and Covidien. These devices will contribute to substantial growth in lower-limb endovascular procedures, particularly those in the femoropopliteal and infrapopliteal indications.
Product improvements in the aortic stent graft market, such as those that address the issues of endoleaks, migration and challenging patient anatomies, will boost stent graft adoption in both the abdominal and thoracic aortic indications, making this another significant growth area.
"The growth potential is significant," said MRG Analyst Tonya Martin. "The adoption of next generation abdominal aortic stent grafts will actually expand the treatable patient population. This is true in both the larger markets of Western Europe and in the markets in the Benelux countries, the Nordic region, Spain and Switzerland. Physicians will have the option of performing more endovascular procedures than ever before."
Millennium Research Group's European Markets for Peripheral Vascular Devices and European Markets for Peripheral Vascular Devices (Part II) reports include unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for peripheral vascular (PV) stents, percutaneous transluminal angioplasty (PTA) balloon catheters, chronic total occlusion (CTO) crossing devices, embolic protection devices (EPD), inferior vena cava filters (IVCF), aortic stent grafts, synthetic surgical grafts, and PV accessory devices sold in France, Germany, Italy, and the United Kingdom (Part I), and the Benelux countries (Belgium, Netherlands and Luxembourg), the Nordic region (Sweden, Norway, Finland and Denmark), Spain and Switzerland (Part II)
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group