WALTHAM, Mass., Nov. 19 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the US market for reprocessed electrophysiology diagnostic catheters will grow at a rate of over 15% through 2014. MRG's new US Markets for Electrophysiology Mapping and Ablation Devices 2010 report finds that although reprocessed catheters have existed for a number of years, it is only recently that this device type has begun to play a larger role in the electrophysiology diagnostic market.
Several key events helped pave the way for reprocessed devices to account for a growing portion of the electrophysiology diagnostic catheter market. In January 2008, the US Government Accountability Office (GAO) released a report concluding that there was no evidence to suggest that reprocessed single-use devices create an elevated health risk for patients. In March of the same year, Massachusetts' State Legislature Public Health Joint Committee voted not to report favorably on bills that would require hospitals to receive patient consent before using reprocessed devices. Both of these events will help to reinforce the acceptance of reprocessed devices among health care providers and drive growth in the use of the reprocessed electrophysiology diagnostic catheters.
As large hospital group purchasing organizations (GPOs) such as ProvSource continue to sign on to supply contracts with commercial reprocessors like Ascent Healthcare Solutions, the market will continue to expand. With usage of diagnostic reprocessed catheters growing, suitability for recycling will become an increasingly important factor in hospital purchasing and stocking decisions.
"The economic climate and resultant budgetary constraints for hospitals are central drivers of the reprocessed catheter market," says Dan Whalen, Analyst at MRG. "Although safety issues were important to the overall acceptance of reprocessed devices, the economic climate acted as the tipping point due to the significant cost savings these devices provide. Consequently, the reprocessed diagnostic catheter market will grow substantially through 2014."
MRG's new report, US Markets for Electrophysiology Mapping and Ablation Devices 2010, provides critical insight into emerging trends that will fuel market growth for electrophysiology lab systems, diagnostic catheters, and ablation catheters through 2014. The report provides a complete breakdown of unit sales, average selling prices, and revenues by device type. Further detail is provided for diagnostic catheters, breaking unit sales into reprocessed devices and original equipment manufacturer devices. Additionally, this report includes five-year forecasts, up-to-date market shares, and in-depth qualitative insights.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.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(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. 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, Inc. at www.DecisionResourcesInc.com.
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SOURCE Millennium Research Group
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