Millennium Research Group (MRG), has conducted a detailed analysis of the global vascular closure device (VCD) market. The research finds that St. Jude Medical and Abbott Vascular are battling for market share in the $450 million global vascular closure device market. According to a new report entitled Global Markets for Vascular Closure Devices 2007, almost 90% of the market is currently held by St. Jude Medical and Abbott Vascular.
Sparked by an increase in market presence with Abbott Vascular's new StarClose VCD, Abbott captured roughly 30% of the 2006 market. Abbott's revenues and market share are expected to further increase as the company's new clip-mediated VCD, the StarClose, continues to penetrate the market.
In 2006, St. Jude Medical, Abbott Vascular, Datascope, Vascular Solutions, Medtronic, and Marine Polymer Technologies were the main players in the global VCD market. Globally, St. Jude held the dominant position, attributed to the company's Angio-Seal device that was introduced to the market in 2001.
"Angio-Seal's success has been augmented by favorable labeling approved by the U.S. Food and Drug Administration," says Senior Analyst, Tandis Mahboubi. "Specifically, acknowledgment from a world-renowned national health board for clinical efficacy has assuredly bolstered St. Jude's position in the global market for VCDs."
MRG's Global Markets for Vascular Closure Devices 2007 report includes coverage of the U.S., Europe (France, Germany, Italy, and the UK), and Japan. The report provides coverage of all key industry competitors, including St. Jude Medical (STJ), Abbott Vascular (ABT), Datascope (DSCP), Vascular Solutions (VASC), Marine Polymer Technologies, Medtronic (MDT), Sutura (SUTU.OB), Cardiva, and TZ Medical.
About Vascular Closure Devices
After an interventional or peripheral vascular procedure, VCDs are used to seal the femoral artery access site. As an alternative to the traditional method of manual compression closure, VCDs offer physicians the added benefit of convenience, primarily by allowing for quicker and safer patient ambulation. By discharging patients earlier and making their beds available to other patients, hospitals are able to reduce wait times.
About Millennium Research Group
Millennium Research Group (http://www.mrg.net/), a Decision Resources, Inc. company (http://www.decisionresources.com/), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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