Cardiovascular Medicine: Diagnostics, Drugs and Devices
The global market for cardiovascular diagnostics and therapy increased from $111 billion in 2006 to an estimated $119.8 billion in 2007. It should reach $192.4 billion through 2012, a compound annual growth rate (CAGR) of 9.9%.
The cardiovascular diagnostics market represents one of the largest sectors in the diagnostics industry chiefly due to the high prevalence rate of and mortality from cardiovascular disease.
Of the cardiovascular diagnostics, devices and drugs markets, the drugs market is the largest, worth an estimated $82.4 billion in 2007 and expected to reach $121.6 billion in 2012.
This market research report is an update of BCCs original report on the topic, published in 2001. BCC's goal in conducting this study is to provide an overview of the current and potential aspects of the global market for cardiovascular drugs, devices, and diagnostics in the pharmaceutical and biotechnology industries. The report determines the market size, market leaders, and factors affecting the market of cardiovascular drugs, devices, and diagnostics.
The overview of types of cardiovascular diseases and their prevalence is examined along with sales figures over the 5-year period from 2007 to 2012. Companies selling drugs, devices, and diagnostics are profiled; the factors affecting markets for these products, and how those markets are likely to change, are analyzed. Revenues have been broken down by the type of drug products, devices implanted, and diagnoses performed.
Our key objective is to present a comprehensive analysis of the current market and the future direction of cardiovascular drugs, devices, and diagnostics, with an emphasis on newer products.
SCOPE OF STUDY
This report contains:
- Descriptions of various types of cardiovascular diagnostics such as in vitro tests and in vivo imaging techniques, devices such as drug eluting stents, and drugs such as Pfizers blockbuster Lipitor
- The current market status of cardiovascular diagnostics, devices and drugs, along with trends and forecasts for growth over the next 5 years
- Technological issues including the latest developments and a thorough patent analysis
- Analysis of the cardiovascular diagnostics, devices and drugs industry, both from a market and application perspective
- Information about the major players in each market, including Medtronic and Boston Scientific in devices, Sanofi-Aventis and BMS in drugs, and Abbott in devices.
A comprehensive literature search was conducted. The literature included technical newsletters and journals, as well as many other sources. The data was collected through interviews and correspondence with various pharmaceutical/biotechnical experts. Projections were based on estimates such as the current number of end users, potential end users, likely unit prices, rates of consumption, and market trends.
BCC surveyed many companies to obtain data for this study. Included were manufacturers and end users of the pharmaceutical drugs through contract manufacturing/research. Data were gathered from the industries; spoke with officials or physicians of these industries; and consulted newsletters, company literature, product literature, a host of technical articles, journals, indexes, and abstracts. Exhaustive investigations of databases by key terminology were done. In addition, data were compiled data from current financial and trade information and government sources.
Shalini Shahani holds a Masters degree in Pharmaceutical Chemistry. Among the research topics she has covered are studies on compounds of potential pharmaceutical interest, including Ibuprofen and 2-Naphthyl Acetic Acid. Shahani was awarded a Gold Medal by the Prime Minister of India for her work and has worked with top companies in India and in the U.S. She has authored several market research reports for BCC Research on various topics within the chemical and pharmaceutical industries, including reagents for chromatography, spectroscopy, advanced drug delivery, contract pharmaceutical manufacturing, and chiral technology.
In 2003, the combined worldwide market for cardiac markers, drugeluting stents, portable automated external defibrillators, and cardiac resynchronization therapy was estimated at $4.46 billion.
These four areas, plus angiogenesis/gene therapy products introduced during the forecast period, are expected to rise at an average annual growth rate (AAGR) of 29% to nearly $16 billion in 2008.
The first four product categories represent segments in which dramatic change is underway. All of these areas will experience double digit growth throughout the forecast period.
Angiogenesis-stimulating therapies and gene therapies represent the next revolution in this area of healthcare, with approval of the first product, an angiogenesis-stimulating agent, possible before the end of 2004.