Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) came out as the big players in the U.S. drug-eluting stent market, together staking claim to more than half of all DES revenues.
In 2010, Boston Scientific reported $1.5 billion in DES sales and held a 33 percent market share in the U.S., led by its Taxus and Promus stents.
The Taxus stent competes with Medtronic Inc.’s (NYSE:MDT) Resolute DES, and Medtronic recently announced data touting Resolute as the better option for avoiding in-stent late lumen loss.
Transforming Patient Care: The Role of AI-Powered Assistants
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
BSX could gain even more market share if predictions pan out. Analysts in June foresaw much of the stent business left behind by Johnson & Johnson (NYSE:JNJ) subsidiary Cordis Corp. moving over to Boston Scientific.
Abbott came in at $1.4 billion in sales, with a 31 percent corner on the market driven by its Xience DES, according to market research firm CompaniesandMarkets.com’s report.
The global market for drug-eluting stents was valued at $1.7 billion in 2003 and saw 15 percent annual growth, coming to $4.6 billion in 2010. The market is expected to idle in the near future as average selling prices decrease, but volume of sales is expected to grow with increasing adoption.
The U.S. market remains the largest in the world, according to the report, rounding out at about $2 billion in 2010, having doubled since 2003 when the number of implanted drug-eluting stents was estimated at 440,000. The number of DES implanted in 2010 came to 1.2 million.
Health Executives on Digital Transformation in Healthcare
Hear executives from Quantum Health, Surescripts, EY, Clinical Architecture and Personify Health share their views on digital transformation in healthcare.
Abbott Labs was ranked 1st in the the MassDevice Big 100 list of the world’s largest medical device companies. Boston Scientific ranked 10th.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
This post appears through the MedCity Influencers program. Anyone can publish their perspective on business and innovation in healthcare on MedCity News through MedCity Influencers. Click here to find out how.