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Strategic Analysis of the World Cardiac Rhythm Management Markets
Frost & Sullivan, Oct 2004
Increased Clinical Trials and Technology Development Drives Growth in the Cardiac Rhythm Management Market
In the cardiac rhythm management (CRM) market, several important clinical trials have been conducted since 1996 including the AVID, MADITT II, COMPANION, and DEFINITE. These have helped in identifying more patients, thus expanding the pool of treatable patients. These clinical trials have also been supported by constant technological advances such as the dual-chambered implantable cardioverter defibrillators (ICDs) and biventricular pacing - which is a cardiac resynchronization therapy (CRT) with defibrillator backing. Both clinical and technological benefits have gone a long way in improving the market scope for CRM devices. However, technological advances may take greater credit for popularizing the devices.
This Frost & Sullivan strategic analysis service provides an overview and outlook for the world cardiac rhythm management market. The study has been segmented into pacemakers - single and dual chambered; ICD - single and dual chambered; and congestive heart failure (CHF) devices - CRT, CRT with defibrillator backup (CRT-D), and CRT with pacemaker backup (CRT-P). This study enables companies to align their positioning strategies to benefit from the changing markets and obtain maximum return on investment.
European Markets Show High Potential for Expansion
The ICD market is still at an emerging stage in Europe but the pacemaker market is well developed and it constitutes an estimated average of 63.9 percent of the total European CRM market. The ICD market is forecast to grow rapidly due to CRT and the MADIT II trials and sudden cardiac death in heart failure trial (SCD-HeFT).
Germany is the largest market for CRM in Europe - predominantly because it is the most populous region in Europe and is highly advanced in cardiology, says the analyst of this research. France is also a very influential segment and is a particularly strong market for pacemakers. The success of the devices in these two countries may be attributed to them being financed through labor parties and insurance companies.
CHF Devices Emerge as a Major Driver of Revenue Growth
One of the major developments in the CRM market over the last few years has been the FDA approval for a completely new indication of device therapy of heart failure (HF). Heart failure currently affects more than 5 million people in the United States and another estimated 10-15 million people outside it, with an annual incidence of roughly 500,000 and 1,000,000, respectively.
CHF can be treated with either a low voltage CRT device, CRT-P device, or a high power CRT-D device. This rapidly growing market segment is expected to have nearly one-third of the market share by 2008, notes the analyst.
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