Recent Developments
Medtronic plc’s Implantable System for Remodulin to treat patients with pulmonary arterial hypertension has received U.S. Food and Drug Administration (FDA) approval. The Implantable System for Remodulin is indicated for adult patients with Class I, II and III PAH (pulmonary arterial hypertension) receiving intravenous delivery of Remodulin. Through a collaboration, the Medtronic SynchroMed(TM) II drug delivery system and cardiac catheter technologies were invested to deliver the PAH medication Remodulin, treprostinil Injection developed by United Therapeutics Corporation. The United Therapeutics will lead the commercial promotion of the ISR, with Medtronic’s support. PAH is a progressive disease which is severely debilitating that causes high blood pressure in the pulmonary arteries, resulting in right-heart failure resulting in premature death. It predominantly affects the women who are typically diagnosed in late 30s to early 50s. FDA approval was based on the PAH trial, a prospective, non-randomized, single-arm, open-label study conducted at 10 places in the United States. It enrolled 64 patients in which 60 are successfully implanted and the implantable intravascular delivery system effectively delivered treprostinil, with a high rate of patient satisfaction and low rate of catheter-related complications.
Medtronic plc is one of the world’s largest medical device company, founded in 1949 in Minneapolis as a medical equipment repair shop. It generates the majority of its sales and profits from the U.S. healthcare system. Now the company is headquartered on the island of Ireland for tax purposes. Medtronic has an operating and executive headquarters in Fridley, Minnesota in the U.S. In 2015, Medtronic acquired Irish–tax registered Covidien which is the largest U.S. corporate tax inversion in history and which enabled Medtronic to move its legal registration from the U.S. to Ireland. Medtronic operates now in 140 countries and has over 86,000 workforces. In 2018, Medtronic was ranked as the world’s largest medical device company by its 2017 revenues.
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Market Segmentations:
Market Data Forecast published a report named Global Catheter Stabilization Devices Market was worth USD 1053.69 Million in 2018 and estimated to be growing at a CAGR of 7.37%, to reach USD 1503.58 Million by 2023.
Report segmented as:
Products:
Arterial securement devices
Central venous catheter securement devices
Peripheral securement devices
Abdominal drainage tubes securement devices
Epidural securement devices
Chest drainage tube securement devices
All-site devices
Applications:
General surgery
Cardiovascular procedures
Respiratory procedures
Urological procedures
Gastric and oropharyngeal procedures
Radiology
Based on product, Arterial securement devices had the largest share of the securement devices market in 2015 and central venous catheter securement devices are expected to grow at the highest CAGR between 2018 and 2023. Under application, the cardiovascular procedures applications had the largest share of the securement devices market in 2015. The cardiovascular procedures applications are expected to one of the fastest growing applications between 2018 and 2023.
Geographical Segmentation:
Based on geography, the market is split into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Catheter Stabilization Devices in the world, which is followed by Europe and Asia Pacific regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period.
Key market players:
Medtronic plc (U.S.)
3M Company (U.S.)
ConvaTec Inc. (U.S.)
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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