REPORT HIGHLIGHTS

• Overall sales in the global market for cardiovascular devices were nearly $76.7 billion in 2008 which is projected to increase substantially to $84.6 billion in 2010. By 2015, it will increase to $97.3 billion, at 5 year compound annual growth rate (CAGR) of 2.8%.
• The largest segment interventional cardiovascular devices market was nearly $60 billion in 2008; which will reach $66 billion in 2010. That is expected to rise to $74 billion in 2015, a CAGR of 2.4%.
• Sales in diagnostic cardiovascular devices amounted to $13 billion in 2008. This is estimated to rise to $14.1 billion in 2010 and to $16 billion in 2015, a CAGR of 2.6%.

REPORT SCOPE

INTRODUCTION

STUDY GOALS AND OBJECTIVES

BCC’s goal in conducting this study was to explore the different factors affecting industries involved with cardiovascular devices.  Because of aging world populations and many other contributory factors, including generally poor dietary habits and widespread obesity, cardiovascular diseases are increasing dramatically.

New technologies are being developed by large companies as well as smaller innovative and academic research organizations.  The current economy is causing a large business shift in virtually every industry.  The medical device industry as a whole is seeing shifts, with smaller companies that lack significant financial resources teaming up with or being acquired by larger companies.  This kind of arrangement can be advantageous for both participating parties, and this report can highlight some of the smaller innovative companies that may potentially need some larger-company assistance as well as identifying larger companies acquiring small innovator companies.

REASONS FOR DOING THIS STUDY

The American Heart Association estimates that more than 80 million people worldwide have some form of cardiovascular disease.  In terms of mortality, cardiovascular issues, illnesses and conditions outpace cancer deaths and automobile deaths.  There tends to be a bit of an overstatement in such figures because technically, irrespective of the causative factors leading to mortal illness, most people eventually die due to cardiac arrest.

However, the globally aging population and increased attention on preventative diagnostic scrutiny by many large insurance companies have caused cardiovascular devices to play a large part in increasing the longevity of the population of individuals with particular types of cardiovascular disease. 

Cardiovascular devices make up a growing market because of increased need due to more people suffering from cardiovascular diseases and conditions.  Additionally, before the destabilization of the economy, many exciting technological advances were in progress for the treatment of cardiovascular diseases and conditions, and these devices remain exciting, although active research and development (R&D) may be suffering.

INTENDED AUDIENCE

It is important for business people within the industry and considering investment or divestiture of investments to understand the current overall landscape of the industry for cardiovascular devices.  This research report will identify many different companies offering innovative and more conventional equipment relating to cardiovascular devices, including current and forecasted revenues and targeted population disease and condition statistics as they are available.

In the current economy, mention must be made that even companies listed within this report as being well-positioned, well-funded and with current and pending technology to serve the increasing need for the use of cardiovascular devices, any investor or potential consumer company should meticulously examine provider or vendor companies before making tangible business decisions.  While for many companies, this economy marks enormous negative change, for other companies that were well ahead of their product life cycle, new and exciting products and technologies within this field continue to be introduced into the cardiovascular devices market.

SCOPE OF REPORT

The scope of this study encompasses several different specific technology- and procedural-based areas relating directly to cardiovascular devices, focusing primarily on those industry stakeholders providing advanced technological solutions for human conditions but also including a smaller, less-granulated analysis of comparable products offered for diagnostic and screening purposes.  We will lightly cover some of the pediatric cardiovascular devices, although, in truth, the pediatric market is differently “shaped” and disparately funded through many nonprofit organizations, making revenues not completely comparable.

BCC analyzed the industry on a worldwide basis, both from a market and product perspective and a technology perspective.  Regulations in the U.S. and global markets were also examined to identify consumer safety, product introduction, and product safety regulatory issues for stakeholders and potential stakeholders in this industry.  Many companies identify their product lines by making the distinction of whether products have been “FDA-cleared.”  We will explain the FDA screening process in order for readers to more fully understand the distinctions made between “FDA-cleared” devices and those developed in other countries that either have not sought or have not received FDA approval.

Considerations have been taken for the changing economy and all statistical reporting and forecasting takes into account current trends and other available data indicating company, product and application stability or instability.  Clearly, not every factor can be taken into account, particularly because companies with no indication of financial instability have gone seemingly instantly from near giants in their field to bankruptcy and dissolution.  In reality, close scrutiny of financial reporting should reveal many such trends; however, there are increasing indications that either through inefficient or positively deceptive accounting and fiscal reporting or through mismanagement, a remarkably large number of these companies claim to have genuinely been unaware of their pending status change.

Market segment financial numbers are based on real reported revenue and primary investigation, and interviews and conventional statistical estimation and forecasting algorithms and techniques are used to report financial trending. 

METHODOLOGY

BCC presents an analysis across the entire cardiovascular device market based on reported revenue dollars and units shipped as reported to the SEC and/or other governmental agencies.  We also analyze data gathered from various research sources via the Internet, including large databases such as the United States Patent Office (USPTO) databases of U.S. Patents and Patent Applications, Micropatent’s searchable databases for U.S. and international patents and other IP issues, and the searchable database available on the Internet from the European Patent Office for World and U.S. patents and patent applications. 

INFORMATION SOURCES

Both primary and secondary research sources were used in this research.  BCC interviewed primary sources from many different identified organizational stakeholder companies in the cardiovascular device market and supply industry, analyzed public documents, SEC filings, corporate white papers and other technical documentation for several dozen U.S. and international companies directly involved in manufacturing and distributing of cardiovascular devices and related equipment.  We have deliberately not included the many resellers and retailers, focusing rather on the primary companies responsible for the development of the underlying technology.

Additionally, BCC analyzed more than 1,000 design and utility patents filed in the U.S. and throughout the world focused on cardiovascular device-related inventions, reducing the number to 704 patents directly relevant to the subject matter of this market research report.

ANALYST CREDENTIALS

Jordan Sheridan is a technology analyst and writer with more than 20 years of experience who has consulted with companies ranging from large international conglomerates to small, high-revenue-generating niche organizations, including IP documentation and analysis studies for Fortune 100 companies, with particular emphasis on IT technology and algorithmically-based inventions.

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DISCLAIMER

The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature.  This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature.  The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.

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