Market Assessment
Facing an investment decision, we helped our client validate the future outlook for vascular closure devices to guide funding of further product development.
Situation
- Our client sought to understand the future outlook for vascular closure devices used in percutaneous coronary interventions to inform its investment strategy moving forward.
- The selection of percutaneous access sites and the closure method for procedures using the femoral access site was in flux.
Critical Questions to Address
- What is the expected future growth rate of relevant procedures?
- Why do clinicians choose to use manual compression versus a vascular closure device? What strategies could drive growth of vascular closure devices?
- Will the shift to a radial access approach have a meaningful impact on the utilization of vascular closure devices?
- How do clinicians select which vascular closure device to use?
Health Advances Approach
- Reviewed secondary research to understand the competitive environment and trends in procedures and use of vascular closure devices.
- Conducted in-depth interviews with physicians, including both users and non-users of vascular closure devices to determine factors impacting selection of vascular access site, closure method, and product choice.
- Surveyed ~100 physicians performing percutaneous interventions to understand factors influencing use and selection of vascular closure devices.
- Created a scenario-based model to forecast the likely, conservative, and aggressive sales of vascular access products to guide our client’s investment approach in the market
Results
- Health Advances validated the market for percutaneous coronary interventions and vascular closure devices, as well as identified features important to clinicians in next-generation products.
- Health Advances quantified the risk of procedures moving to a radial access approach and its impact on the vascular closure device market.
