An Open Market for Vascular Closure Devices
Sensing a largely untapped opportunity in vascular closure, due to the drawbacks of manual compression and issues with first-generation products, device companies are working on newer-generation devices that both avoid the problems associated with the older devices and address the disadvantages of manual compression.
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There are some 15 million medical procedures performed worldwide each year using interventional, catheter-based techniques, and that number will grow as the aging population demands less invasive treatments. This revolution has already generated multibillion dollar product markets for the devices used to perform these procedures, but there is another huge, frequently overlooked opportunity: devices for closing the puncture site.
It appears that the climate is becoming more favorable for surgical sealants and adhesives in Europe, according to "European Markets for New and Emerging Wound Closure Products and Techniques" a report published in April 2007 by Medtech Insight, because health care payers want to bridge the gap between an aging population's high-technological medical product requirements and regional health care cost containment initiatives.
Six years ago, ev3 was launched aiming at a broad attach on cardio- and endovascular disease. But the company found including coronary devices in its mix too difficult and too costly. Instead, the company shifted directions three years ago, with a focus on peripheral and neurovascular disease. In the process, it hopes to address what it calls "the innovation gap," the lack of devices developed specifically for the PVD and neurovascular specialists.