Posted on September 8th, 2009 under Heart Valve Replacement.
In case you missed it, Research and Markets just published their “Top 25 Manufacturers of Heart Valve Repair And Heart Valve Replacement Devices” for 2009 (shown below).
Given my ongoing interest in this market, I was intrigued by the vast assortment of company names on this list. Some of these brands were new to me. And, given the ongoing consolidation of this industry, some of the brands referenced were very familiar.
Personally, I find the power of brands ab-sooooo-lutely fascinating. In business school, I attended many classes that focused on strategic brand management and its impact upon customers, the competition and success metrics. For example, I am always amazed when I review a valuation analysis of the world’s number one brand, Coca Cola. Did you know, in 2005, the Coke brand was valued at over $70 billion dollars? (The second most popular brand, Microsoft, was valued at $59 billion.)
Coke: The Number One Brand In The World
“Why is Adam writing about this in a blog about heart valve surgery?” you might be wondering.
Over the years, I have spoke with thousands of heart valve surgery patients about their valve replacement devices. I find it very curious when I ask them a simple question, “Which brand of heart valve replacement do you have?”
I would estimate that 65% of patients respond to that question with something like, “I don’t really know.”
Personally, I see this as a huge, educational opportunity for the patients and the heart valve manufacturers.
For the patients… I believe now, more than ever, our thirst for information can be partially quenched (emphasis on partially) by the resources available to us. These online educational mediums empower patients to learn, to share, to consider and to inquire about surgical choices which fit our needs / wants.
For the heart valve manufacturers… It seems like a good portion of their educational efforts have been primarily focused on the surgeons, who then advise patients needing heart valve surgery. That strategy makes complete sense. It’s a very smart, appropriate and required approach.
However, given (i) their lack of brand awareness in the patient community, (ii) the time constraints on surgeons to spend with patients and (iii) the evolving, interactive paths of patient education, heart valve manufacturers may to want consider alternative, incremental approaches to meet the needs of the patient-base.
Long term, that extension of information and, more importantly, interaction will empower the patient and, in my humble opinion, empower their brands.
As referenced above, here is Research and Market’s Top 25 Heart Valve Manufacturers of Repair and Replacement Devices:
- Abbott Laboratories
- Accellent Inc.
- Admedes Schuessler GmbH
- AorTech International plc
- Arbor Surgical Technologies, Inc.
- AutoTissue GmbH
- Boston Scientific Corporation
- CarboMedics Inc.
- Cardiac Dimensions Inc.
- Cardiosolutions, Inc.
- Edwards Lifesciences
- Endovalve, Inc.
- JenaValve Technology GmbH
- Leman Cardiovascular
- Medtentia AB
- Medtronic, Inc.
- MiCardia Corporation
- MitralSolutions, Inc.
- On-X Life Technologies, Inc.
- Sadra Medical, Inc.
- Sorin S.p.A.
- St. Jude Medical, Inc.
- TTK Healthcare
- ValveXchange, Inc.
I hope this helped you learn a little more about the world’s largest heart valve manufacturers. And, I’m hopeful that these brands will increase their interaction with the patient community in the future.
Keep on tickin!