|By PR Newswire||
|February 5, 2014 10:00 AM EST|
BURLINGTON, Mass., Feb. 5, 2014 /PRNewswire/ -- Decision Resources Group finds that the global market for vascular closure devices (VCDs) will primarily be limited by the shift away from invasive VCDs, which are substantially higher-priced and account for the majority of the overall VCD market.
Although VCDs offer benefits over manual compression, such as decreased ambulation times and increased patient comfort, some facilities do not think that these benefits outweigh costs, especially in the case of invasive VCDs. This will be exacerbated by the growing preference for radial access in coronary procedures, since the radial artery is smaller and more easily closed compared to the femoral artery, thus negating the need for invasive VCDs. As a result, there will be a shift from invasive VCDs to less expensive assisted manual compression devices, which will dampen overall revenues.
The increase in radial access use will be especially evident in the United States compared to Europe and Japan. Historically, use of radial access was low in the U.S. due to the lack of U.S.-based studies supporting the technique. However, more clinical data from studies conducted in the country as well as increased training on radial access will fuel its strong adoption through 2022, resulting in slightly greater declines in the U.S. VCD market.
"Radial access is more established in coronary procedures," said Decision Resources Group Analyst Roald Dhoska. "However, peripheral vascular procedures are growing faster, especially in the lower-extremity indications in which femoral access is needed. This factor will somewhat sustain the use of invasive VCDs and stabilize overall revenues."
St. Jude Medical's lead in the global VCD market has been attributed to its success in the invasive VCD segment; however, in light of declining use of those devices, continued success will prove difficult to sustain. Consequently, companies competing in this market may shift their focus away from invasive VCDs and toward assisted manual compression devices instead. Overall, competition from new entrants will be minimal due to the lower revenue potential of the VCD market compared to other vascular device markets.
Decision Resources Group's Global Markets for Vascular Closure Devices 2014 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for invasive VCDs, hemostatic patches and assisted manual compression devices in the United States, France, Germany, Italy, Spain, United Kingdom and Japan.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
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