Navigation Links
Canadian Health Care System Pressuring Manufacturers to Lower Drug-Eluting Stent Prices in US$55 Million Market
Date:10/5/2010

TORONTO, Oct. 5 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Canadian interventional cardiology device market is a highly competitive and dynamic market, with a small number of large competitors fighting for market share in this extremely profitable area. As of 2010, the drug-eluting stent segment represented a $55 million market -- the most lucrative of the interventional cardiology device markets.  

Entering the Canadian health system is, however, not easy for device manufacturers. One of the biggest determinants of device adoption in Canada is price because of the setup within the Canadian public health care system. Facilities receive a budget from the government that they must use to purchase devices in a way that allows universal access for Canadian citizens to health care. This means that the most advanced, and also premium-priced devices, are often not used because hospitals and facilities cannot afford to purchase them and still provide treatment to all patients. This not only limits Canadian interventional cardiology device market revenues, but also further deters manufacturers from entering or launching new products in the Canadian interventional cardiology device market because it is not viewed as cost effective by manufacturers.

"Growth in drug-eluting stent procedure volumes -- which will occur at the expense of bare-metal stent procedures -- will be sustained through 2015," says Adrienne Ma, Analyst at MRG.  "According to interventional cardiologists interviewed by MRG, drug-eluting stent prices are falling dramatically in Canada because of competitive pricing pressures caused by manufacturers fighting to bolster their market share by maintaining and establishing new contracts with hospitals. The upside to the pricing declines is that facilities are able to afford more drug-eluting stents within the same constrained budget that is applied by the Canadian public health care system."

With increasing competitive pressures among products, as well as from alternative treatment options, prices in the drug-eluting stent market have been reduced. Prices will also drop as a result of pressure from the Canadian government, which is aiming to reduce health care costs by entering into a pan-Canadian purchasing alliance to better negotiate lower prices from drug and medical equipment companies.

MRG's Canadian Markets for Interventional Cardiology Devices 2011 report provides critical insight into trends that will fuel market growth for drug-eluting and bare-metal stents, percutaneous transluminal coronary angioplasty balloon catheters, and accessory devices through 2015.

About Millennium Research GroupMillennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources, Inc.Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.For more information, contact:Amy KrohnMillennium Research Group416-364-7776 ext. 101akrohn@mrg.net Chris ComfortDecision Resources, Inc. 781-993-2597ccomfort@dresources.com
'/>"/>

SOURCE Millennium Research Group
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Reportlinker Adds Canadian Dental Market Overview & Dentist Survey 2010 (Implants, Prosthetics, Imaging & CAD/CAM)
2. Canadian Pharmacy Intermediary SaveRxCanada.com Enhances Online Shopping System
3. Abviva Announces Notice of Canadian Patent for Technology Used in Breast Cancer Diagnostics and Therapeutics
4. Nephros Signs Canadian Distribution Agreement with Bellco Health Care Inc.
5. Instrumentation Laboratory Receives 510(K) Clearance From FDA and Canadian License for HemosIL(R) D-Dimer HS 500 Assay
6. Novartis Enters Into Agreement for Exclusive US and Canadian Rights to Fanapt(TM), an FDA-Approved Oral Therapy for Schizophrenia
7. Optherion Announces Issuance of Canadian Patents Covering Age-Related Macular Degeneration Diagnostics and Treatments
8. SyntheMed Receives Canadian Approval for REPEL-CV(R)
9. Shortfalls in Carotenoid Intake May Impact Womens Health
10. Quest Diagnostics and HP Simplify Electronic Health Records for Physician Practices
11. American College of Surgeons Health Policy Research Institute Releases Surgery Workforce Atlas That Shows Surgeon Shortage Across the U.S.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... , March 27, 2017  Impax Laboratories, Inc. ... appointed Paul M. Bisaro as Impax,s President ... Company,s Board, effective March 27, 2017. Mr. Bisaro will ... as Interim President and Chief Executive Officer since December ... generic and branded pharmaceutical experience, Mr. Bisaro, 56, is ...
(Date:3/27/2017)... 2017 Invivotek, LLC, a Genesis Biotechnology Group ... pharmacology contract research organization (CRO), announced the completion ... expanded preclinical research facility in Hamilton, New ... renewable energy source to reduce costs and lessen the ... Genesis Solar Farm follows Invivotek,s recent expansion from a ...
(Date:3/24/2017)... , March 24, 2017  Zymo Research ... and Hamilton Robotics, Inc., who designs, manufactures ... ongoing collaboration that teams Zymo Research,s DNA ... and DNA extraction products with Hamilton,s high-throughput ... optimized methods for microbiomics and RNA isolation ...
Breaking Medicine Technology:
(Date:3/27/2017)... ... 2017 , ... According to the American Cancer Society , the average ... 95%. Once the cancer spreads to other organs, bones, or lymph nodes, however, the ... avoid this latter group, tune in to Lifestyle Magazine on April 9, ...
(Date:3/27/2017)... ... March 27, 2017 , ... Golden Triangle Emergency ... on Monday, April 3rd to commemorate the two-year anniversary of the facility. The ... to celebrate two great years while also familiarizing themselves with the facility. , ...
(Date:3/25/2017)... ... March 25, 2017 , ... Getting earned media coverage meaningful for Garden ... , All through the year, Garden Media aims to provide material helpful to clients’ ... and pitching client’s key messages to gain coveted media placements, Garden Media ...
(Date:3/24/2017)... York, NY (PRWEB) , ... March 24, 2017 ... ... global scale; from third world countries to hospitals in the United States, it’s ... a conversation on the current obstacles facing infection prevention and offers strategies for ...
(Date:3/24/2017)... ... March 24, 2017 , ... The iaedp Foundation, the premier provider of educational ... those suffering from the full spectrum of disordered eating, announced today that the 2017 ... nearly all 50 states and several countries converged on the Green Valley Resort in ...
Breaking Medicine News(10 mins):