On the heels of a new report that medical device sales of arthroscopic surgical equipment is expected to surge over the next several years, another study finds that the U.S. heart valve market will also experience a rebound.
According to the new Millennium Research Group (MRG) study, the introduction of a new minimally invasive transcatheter aortic valve replacement (TAVR) is expected to jump start the sales of medical device sales in the U.S., and double by 2015.
The report finds that even though the new TAVRs have not yet been approved for sale on the U.S. market by the Food and Drug Administration (FDA), once they do receive the OK, they will make up almost 12% of all heart valve procedures in the country by 2015.
MRG analysts Ian Swanson said the devices will open up heart valve treatment to patients who may have been ineligible otherwise.
"The response by US physicians has demonstrated both an excitement for the new technologies' ability to treat a previously untreatable patient population, and some caution about any premature application of TAVR in patients who would otherwise be candidates for standard surgical aortic valve replacement," Swanson noted.
Industry experts believe the devices will be approved for commercialization later this year.