LONDON, May 27 /PRNewswire/ -- The incidence of cardiovascular disease is rising due to factors such as ageing, obesity, smoking and other cardiac ailments. Each year cardiovascular diseases cause over 4.3 million deaths, accounting for 48 per cent of all mortalities in Europe.
As a result, the European cardiac rhythm management (CRM) market offers significant growth potential. The approval of implantable CRM therapy for congestive heart failure by means of cardiac resynchronisation therapy devices; regulatory approval of advanced technologies such as ablation catheters and cost benefits accrued to the national healthcare system are invigorating the expansion of the CRM market.
New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com), Western European Cardiac Rhythm Management Market, finds that the market earned revenues of $3.4 billion in 2008 and is estimated to reach $7.3 billion in 2015. The following segments are covered in this research: pacemakers, implantable cardioverter defibrillators, cardiac resynchronisation devices and ablation catheters and pacing leads.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Katja Feick, Corporate Communications, at email@example.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brief brochure will be sent to you by e-mail.
"Collaborative partnerships, technological innovation and device scalability will determine the future of the European CRM market," notes Frost & Sullivan Research Associate Sreevidhya Praveen. "To position a company for future growth, building an effective channel to profitably distribute lower cost equipment to new, emerging users is absolutely essential. At the same time, international manufacturers should aim to establish alliances with smaller participants for the sale and distribution of their products."
The major segments of the CRM market are achieving rapid penetration, indicative of a flourishing space for CRM devices. Certain segments such as CRT-P and leads, while expanding gradually, are still exhibiting a positive growth rate. The CRM industry reveals natural, organic growth with all market participants set to make revenue gains.
The CRM market consists of a select few market participants, trying to sell high-cost, life-saving devices. Each manufacturer utilises bipolar leads, bi-ventricular pacing devices, high rate adaptive pacing, and sophisticated programmers to capture and translate data. The price difference between these devices is fairly marginal.
The inability of niche participants to distinguish themselves is a characteristic of the market. Without product differentiation, they have been unable to capture the attention of consumers.
"Each manufacturer strives to introduce their own device features and innovations to differentiate their devices; it essentially amounts to how these devices are perceived in the mind of specialists," explains Praveen. "It is critical for companies to brand their technology and establish themselves in the minds of consumers."
Device mortality remains a concern for end users. Battery life is one of the key factors that contribute to device longevity. Trends related to thin-film battery technology and high-energy batteries are positive, auguring well for market prospects.
However, there needs to be greater focus on developing the durability of batteries and the factors that contribute to device longevity. Moreover, manufacturers should continually monitor the market and steadily invest in R&D to promote product innovation and differentiation.
Western European Cardiac Rhythm Management Market is part of the Medical Devices Growth Partnership Service programme, which also includes research in the following markets: European Bone Growth and Spinal Fusion Stimulators Market, European Tissue Sealants and Topical Hemostats Market and European Market for Biopsy Devices. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Western European Cardiac Rhythm Management Market M345 Contact: Katja Feick Corporate Communications - Europe P: +49 (0) 69 7703343 E: firstname.lastname@example.org http://www.frost.com/
|SOURCE Frost & Sullivan|
Copyright©2009 PR Newswire.
All rights reserved