Declining coronary angioplasty volume in the U.S. and Canada will keep growth in the device market tepid, according to an analysis by MarketsandMarkets. The company projected the markets for interventional and peripheral vascular devices will inch up to about $6 billion by 2018.
The overall compound annual growth rate (CAGR) will increase 2.9 percent between 2013 and 2018, with coronary angiography posting a decrease of 3 percent.
Bioresorbable technologies, on the other hand, are expected to buoy the market. Bioresorbable stents and platforms, which have a lower restenosis risk than some other devices, will post a CAGR of 62.2 percent as devices make their way into practice. The report noted some devices are still investigational.
The CAGR for retrievable inferior vena cava filters is estimated to increase 13.1 percent, based on the growing incidence of deep vein thrombosis. The overall peripheral vascular device market is expected to grow 14.8 percent.
The analysis also saw continuing increases for surgical equipment, diagnostic catheters and intravascular ultrasound and optical coherence tomography catheters.
Abbott Laboratories, Cordis, Medtronic, Boston Scientific and Covidien dominate the North American markets, holding more than 90 percent of market share, according to the analysts.