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January 11, 2022updated 31 Jan 2022 5:43pm

2021 saw a 139% rise in pipeline Cardiovascular Devices products globally

By Carmen

The number of pipeline Cardiovascular products in 2021 saw a 139% rise globally when compared to Cardiovascular pipeline products in 2020, according to GlobalData’s pipeline products database. This compares to an 15% rise for all pipeline medical devices in 2021 compared to 2020.

The global Cardiovascular Devices market was worth $56.14bn in 2020 and is expected to reach $57.09bn by 2025, according to GlobalData’s analysis.

 

Cardiovascular Devices pipeline products by categories: Interventional Cardiology has the most devices

Looking at the device categories of pipeline products, Interventional Cardiology accounted for the largest proportion (19.42%) in 2021, followed by Peripheral Vascular Devices (14.81%) and Transcatheter Heart Valves (10.96%).

Of the global medical devices market value, the Cardiovascular Devices market held an 11% share worth $56bn in 2021 and is expected to reach $57.09bn by 2025.

Cardiovascular Devices development activity: Advanced stage of development leads

Devices at an advanced stage of development (in clinical trials, in the approval process, already approved in Europe or the rest of the world) accounted for 42.8% of medical devices in 2021, compared with 50% in 2020. The number of devices at the In Approval stage inclined by 162% in 2021, when compared with 2020.

The In Approval stage is considered to be the period where the manufacturer is waiting for final approval from regulators, following completion of the required development steps.

A decrease in products awaiting approval would indicate less new products entering the market in the coming months, while an increase indicates more devices entering the market, posing a market share threat to existing marketed devices.

 

Asia-Pacific tops pipeline Cardiovascular Devices products activity

Comparing the number of pipeline Cardiovascular Devices products activity in different regions of the globe, Asia-Pacific held the top position (39%) during 2021, followed by North America (37%), and Europe (19%).

On a country level, the US had the most pipeline Cardiovascular Devices during the year, representing the largest share (41%) of Cardiovascular pipeline products. In second place was China (37%), followed by Japan (4%).

New pipeline Cardiovascular medical devices: Expected to be approved by 2025

According to GlobalData, approximately 48% of pipeline Cardiovascular Devices in 2021 were expected to receive regulatory approval by the end of 2025. The leading categories for devices expected to receive regulatory approval by the end of 2025 was Cardiac Ablation Devices, at 3% of devices. Differences in regulatory approval timelines reflect the stage of development for a device, the device complexity or risk categorization (or device class) or if there are changes in regulatory oversight.

Meril Life Sciences Pvt Ltd tops Cardiovascular Devices development in 2021

According to GlobalData, top ten medical device companies accounted for 25.38% of pipeline Cardiovascular Devices activity during 2021. The leading company for developing Cardiovascular Devices was Meril Life Sciences Pvt Ltd with 5.19%, followed by Zylox-Tonbridge Medical Technology Co Ltd at 3.65%.

Companies launching new medical devices are more likely to disrupt existing market share or are better able to defend existing share.

Company-developed pipeline products lead Cardiovascular Devices in development

Looking at the share of activity in terms of Cardiovascular pipeline products developers, company-developed pipeline products accounted for a 92% share of the Cardiovascular medical devices market, while institute-developed pipeline products held the remaining share.

The monthly average for 2021 saw company-developed Cardiovascular pipeline products account for 92% of pipeline products and institute-developed pipeline products account for 8%.

Methodology
The medical devices pipeline data used in this article were extracted from Medical Pipeline Products Database of GlobalData’s Medical Intelligence Center. Pipeline Products database covers all medical devices which are in development stage and intended for diagnosis, treatment, and management of diseases/conditions/symptoms directly or indirectly. Pipeline products are covered from various authenticated sources like company websites, SEC filings, conference presentations, analyst presentations, news releases, grants etc. The information is collected by following systematic research techniques and proprietary methodology.

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