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Global Cardiac Rhythm Management Device Market to Show Minimal Growth Through 2016

Tue, 08/21/2012 - 8:00am
The Associated Press

TORONTO--(BUSINESS WIRE)--Aug 21, 2012--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the large global market for cardiac rhythm management (CRM) devices will see only minimal growth through 2016, to a value of over $9.6 billion. The CRM market is mature and saturated, with little anticipated growth in procedure volumes, and a significant downward pressure on selling prices. Some technological improvements will allow for premium-priced sales, particularly in Europe and the United States.

Bradycardia, tachycardia and heart failure, the three main indications for pacemakers, implantable cardioverter-defibrillators (ICDs), and cardiac resynchronization therapy (CRT) devices, are correlated with age and obesity. The over-65 and obese populations will continue to grow in all of the countries covered by this report. However, in the developed economies, a large proportion of the potential patient population already has an implanted CRM. With no untapped population segment, growth will come incrementally from newly eligible patients.

Recent audits from the US Department of Justice and the Centers for Medicare & Medicaid Services (CMS) have raised questions about the clinical indications for pacemaker implantation. The CMS audit concluded that dual-chamber pacemaker implantations were often performed without a clinical indication. The Department of Justice audit investigated the overuse of ICD implantations. The tighter evidence-based requirements imposed will reduce procedure growth for the affected devices.

A recent concern has been the safety profile of several ICD leads, providing an opportunity for devices such as Cameron Health’s S-ICD, which eliminates the connecting wires between the generator and the heart. These devices were introduced in Europe and CE marked in 2009. Premarket approval has been recommended, though not yet granted, in the US. Approval in Japan will come last, because of that country’s long approval process.

“Competitors will try to offset price declines through technical innovations,” said MRG Analyst Mirel Giugaru. “Until recently, for example, magnetic resonance imagining scanners (MRIs) were contraindicated for CRM users, meaning that some patients who could have benefited from an MRI couldn’t get one, but MRI-compatible devices will proliferate over the next five years. In addition, generator lifespans are getting longer, devices are getting smaller, and remote monitoring is growing more common. The premium prices such devices command will to some extent counteract the overall selling price declines.” Millennium Research Group’s Global Markets for Cardiac Rhythm Management Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for pacemakers, ICDs and CRT devices in the United States, France, Germany, Italy, the United Kingdom and Japan.

About Millennium Research Group Millennium Research Group ( www.MRG.net ), a Decision Resources Group company ( www.DecisionResourcesGroup.com ), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.

CONTACT: Decision Resources Group Christopher Comfort, 781-993-2597 ccomfort@dresources.com or Millennium Research Group Alex Jablokow, 617-599-8613 ajablokow@mrg.net KEYWORD: UNITED STATES NORTH AMERICA CANADA MASSACHUSETTS INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES PHARMACEUTICAL RESEARCH SCIENCE GENERAL HEALTH SOURCE: Millennium Research Group Copyright Business Wire 2012 PUB: 08/21/2012 08:00 AM/DISC: 08/21/2012 08:00 AM http://www.businesswire.com/news/home/20120821005126/

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