Overview
The coronary arteries supply a constant flow of oxygen-rich blood to the heart, which pumps almost 2,000 gallons of blood throughout the body each day. If plaque builds up in these coronary arteries, blockages can develop, reducing blood flow to the heart and causing symptoms ranging from mild chest pain to a heart attack, which can be fatal. Interventional Cardiology is a discipline that treats coronary artery disease minimally invasively, opening clogged coronary arteries via catheter-based procedures.
Both diagnostic and therapeutic procedures are performed. Diagnostic angiography is used to determine the extent and location of a patient’s arterial blockages. Angiography is a procedure in which radiopaque dye visible under x-ray is delivered through a catheter directly into the arteries, allowing real-time visualization with an x-ray imaging system. Angiography is performed using a catheter placed into the vascular system through a puncture in the femoral, brachial or radial artery.
The results of the diagnostic angiography dictate the therapeutic course of action which includes: non-invasive therapy (diet, exercise or drug therapy); coronary artery bypass grafting (“CABG”), a highly invasive open surgical procedure; and percutaneous transluminal angioplasty (“balloon angioplasty”) as well as other percutaneous catheter-based procedures including stenting and atherectomy.
The interventional cardiology market has seen rapid and significant product development which has resulted in improved treatment and allowed access to a larger patient population. With each new technology introduction, new challenges have been created inviting constant innovation and new market entrants. Devices that accomplish arterial sealing, mechanical thrombectomy and embolic protection are gaining share as they shorten recovery times and improve the safety of interventional procedures.
Market Opportunity
Coronary artery disease (CAD) is the leading cause of death in America. Approximately 13.2 million people alive today have a history of heart attack, angina pectoris or both and an estimated 1.2 million Americans will have a new or recurrent coronary attack this year.
The large and growing patient population suffering from CAD and the desire to treat patients minimally invasively has driven growth in interventional procedures, which continue to displace the more invasive surgical procedures. Kairos estimates the number of coronary catheterization procedures will exceed 7 million in the U.S. in 2004 and represent over $5B in revenue.
Kairos Focus
Growth in patient numbers, procedure volume and new technologies make this an exciting sector. Adjunctive coronary transcatheter (ACT) technologies (including arterial sealing devices, mechanical thrombectomy devices, distal protection systems, and devices for improved access) are projected to exceed $1 billion in sales by 2006 and should provide Kairos with several investment opportunities. |
