SOURCE: Frost & Sullivan

March 24, 2011 07:02 ET

Intense Competition Creates Opportunities for Companies With Technologically Advanced Offerings in the Western European PID Market, Finds Frost & Sullivan

LONDON--(Marketwire - March 24, 2011) - The technology involved in the peripheral interventional devices (PID) market is typically highly complex. At the same time, new products are launched frequently, compelling the need for high levels of operational expertise. As technological advances proceed apace, companies able to offer sophisticated equipment are poised to make strong gains.

Latest analysis from Frost & Sullivan (http://www.medicaldevices.frost.com), Overview of the Western European Peripheral Interventional Devices Market, finds that the market earned revenues of $1,001.5 million in 2009 and estimates this to reach $2,014.1 million in 2016. The following segments are covered in this research: peripheral vascular stents and stent grafts, percutaneous transluminal angioplasty (PTA) catheters, endovascular catheters, guidewires, vascular closure systems (VCD) and embolic protection devices (EPD).

"An ageing population and the associated high incidence of vascular disease will contribute to market growth," notes Frost & Sullivan Senior Research Analyst Sree Vidhya Praveen. "Next generation technologies will expand device applicability and treatment, further supporting market expansion."

Vascular surgeons are shifting to minimally invasive surgical procedures. As such surgery techniques increase in number due to the promise of improved clinical efficiency, the demand for advanced PID devices will also rise.

Overseas markets will provide lucrative options for trade. However, they will also pose several problems for entry. Regulations differ for each market, with some being extremely difficult to penetrate.

To trade globally, manufacturers need to develop a keen understanding of local regulations. Many countries like Japan have local agents through whom international companies can carry out trade within the country.

"Imposing trade barriers, fluctuating currencies and duplication of regulatory and industry approval processes impede international market penetration," cautions Praveen. "Besides, some countries have their own classifications of devices and do not have transparent processes, making it harder for manufacturers to gain a foothold."

Large participants dominate the Western European PID market. In 2009, Cordis Corporation (J&J) was the leader in the overall PID market, particularly in the peripheral stents and endovascular catheters segments. In the VCD segment, St. Jude Medical and Abbot Laboratories accounted for a combined market share of 97 per cent.

With such strong dominance of the major participants, the introduction of new products and their growth has proved extremely challenging for smaller manufacturers. Nevertheless, high market potential is set to attract venture capital funding for emerging companies.

"Developing long term contracts and building close relations with distributors will be key to success," concludes Praveen. "To compete with the larger participants and increase market share, smaller manufacturers need to gain the favour of distributors, hospitals as well as acute and alternate care facilities."

If you are interested in more information about this study, please send an e-mail to Katja Feick, Corporate Communications, at katja.feick@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

Overview of the Western European Peripheral Interventional Devices Market is part of the Medical Devices Growth Partnership Services programme, which also includes research in the following markets: Western European Markets for Peripheral Vascular Stents and AAA Stent-Grafts, Western European Markets for Peripheral Vascular Products, Overview of the Western European Peripheral Interventional Devices Market, European Blood Banking Devices Market and European Disinfection Gels and Scrubs Market, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

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Overview of the Western European Peripheral Interventional Devices Market
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