September 25, 2008 - The Global Markets for Cardiac Rhythm Management (CRM) Devices 2009 report by Millennium Research Group (MRG) shows the CRM device market has recovered after a slump caused by several device recalls that began in 2005, and that the market will continue its recovery and growth over the next five years due largely to implantable defibrillator sales, which include implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds).
While growth of the CRM device market will be less aggressive than was expected prior to the device recalls, the global market will grow to reach more than $11.5 billion by 2013.
The CRM device market has exhibited strong signs of recovery with 2008 market revenues trending significantly higher than the previous year. With manufacturers and consumers making adjustments in response to safety concerns and no recalls occurring since late 2007, public and physician confidence in these products is on the rebound. The use of implantable defibrillators, particularly CRT-D replacement and upgrade procedures, will allow the CRM device market to resume expansion.
"Over the next five years, the CRM market will continue to grow," says Anuk Karunaratne, Senior Analyst at MRG. "ICDs and particularly CRT devices will account for much of this growth as replacement procedures will begin to contribute to procedure volumes. Also, CRT devices will be increasingly adopted over simpler single- and dual-chamber models due to the perceived benefits of biventricular pacing."
MRG's Global Markets for Cardiac Rhythm Management Devices 2009 report includes data on the U.S., France, Germany, Italy, UK and Japan. The report provides coverage of key industry competitors including BIOTRONIK, Boston Scientific, Medtronic, Sorin Group, St. Jude Medical and more.
For more information: www.mrg.net