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Report Predicts Top 10 Cardiology Device Firms in 2018
September 30, 2013
1 Min Read
Market intelligence firm EvaluateMedTech predicts that Medtronic will be the top maker of cardiovascular devices in 2018. The firm, however, predicts that the business will grow rather slowly, at a rate of 2%. With worldwide sales of $8.7 billion in 2012, the business would be worth $9.9 billion in 2018.
Rounding out the top four cardiology device makers are St. Jude, Boston Scientific, and Abbott Laboratories. By 2018, EvaluateMedTech expects St. Jude to remain the second strongest cardiology device maker, while Boston Sci and Abbott will remain the third and fourth, respectively. With a CAGR of 7%, Edwards Lifesciences is poised to become the fifth biggest cardiology device maker five years from now. Propelling that growth is its projected growth in the transcatheter heart valve segment. At present, the company continues to have the only FDA-approved transcatheter heart valve on the market. The company recently received an IDE for its third-generation Sapien valve.
The report acknowledges that General Electric and Philips were not included in their rankings as they do not disclose their cardiology sales.
The top five cardiology device makers would remain largely unchanged by 2018, if EvaluateMedTech's predictions hold true.
Rounding out the top ten cardiology device firms in 2018 are the following, all of which have a CAGR of 5% or higher:
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