European Cardiac Rhythm Management Market Expected to Double by 2017
March 1, 2011 – Medtronic, St. Jude Medical and Biotronik have emerged as leaders in the €2.8 billion European cardiac rhythm management (CRM) electrophysiology and ablation market, according to iData Research. The companies have been particularly successful in the telehealth monitoring for cardiac implantable electric devices (CIEDs).
By 2017, the CIEDs market is expected to grow at double-digit rates. Cardiac resynchronization therapy (CRT) devices were the fastest growing in 2010 and sales will reach over €1 billion due to recent technological advances in wireless connectivity and miniaturization. By 2017, the total European CRM, electrophysiology and ablation markets are expected to reach over €4.4 billion.
"Improved technologies are leading to increased diagnosis rates of cardiac arrhythmias in Europe," said Kamran Zamanian, Ph.D. CEO of iData. "This will drive the market for diagnostic electrophysiology stimulators, recorders and catheters, as well as the market for cardiac resynchronization therapy. Both of these markets are expected to almost double in value by 2017."
The report states that in 2010, the U.K. exhibited the fastest growth per-capita in CRM device implantation. This was due to National Health Service (NHS) targets to increase the use of implantable cardioverter defibrillators (ICD) and CRT devices in order to reach a per-capita level similar to the European average. In addition, pilot programs for the use of remote monitoring have stimulated growth of telehealth monitoring for CIEDs.
Furthermore, the report states that Medtronic was the leader in the overall cardiac rhythm management market including telehealth monitoring for CEIDs. St. Jude, Boston Scientific and Biotronik were also top manufacturers.
For more information: www.idataresearch.net