TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, drug-eluting stent (DES) pioneer Cordis decided to leave the market it helped create because its older Cypher stent faced strong competition from newer generation drug-eluting stents, with improved models from competitors expected next year, while its NEVO product, in development, faced a prohibitively long path to marketability. Cordis remains a strong competitor in other areas of the interventional cardiology market.
According to proprietary MRG surveys of key practitioners, there will be significant differences in which competitors gain market share as a result, depending on geography. In the United States, Boston Scientific Corporation will likely take two thirds of Cordis’ market, while the remainder will be divided between Abbott Vascular and Medtronic. In the active Japanese market, Terumo will take two-thirds, while the remainder will be divided between Xience (Abbott Vascular) and Promus (Boston Scientific).
“Cordis has seen its market share erode over the last number of years,” said MRG Principal Analyst Karene Dumoulin. “Between 2009 and 2010 Cypher’s contribution to Cordis’ worldwide revenues dropped from 34 percent to 24 percent, and would likely have fallen below 20 percent in 2012. New stents are expected in all geographies in the next year. This is an extremely active and competitive market. Physicians look for clinical results and show little product loyalty. You’re only as good as your last product.”
Millennium Research Group has reports that cover every aspect of this market worldwide, including:
- European Markets for Interventional Cardiology Devices
- Japanese Markets for Interventional Cardiology Devices
- US Markets for Interventional Cardiology Devices
- Latin American Markets for Interventional Cardiology Devices
- Asia Pacific Markets for Interventional Cardiology Devices
About Millennium Research Group
Millennium 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 loyalty tracking, facility-level procedure forecasting, and customized solutions.
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