News | April 09, 2010

Survey Finds ICD Maker’s Withdrawal Provides Big Opening for Competition

April 9, 2010 – A survey of physicians by Majestic Research found that Boston Scientific’s March 15 decision to withdraw from the implantable cardioverter defibrillator (ICD) market will have a meaningful, long-term impact on the implantable electrophysiology device market.

Among surveyed electrophysiologists, 56 percent report the recent announcements and actions by the company have negatively impacted their perceptions of the overall quality of Boston Scientific’s ICD devices. The survey found 52 percent said they would be less likely to use the company’s devices in the future.

The company withdrew its ICD products from the market in March after a planned process review revealed two manufacturing process changes were not submitted for FDA approval. It also plead guilty April 5 to criminal violations for improper reporting of short-circuit failures of three models of its implantable cardioverter defibrillators (ICDs). The company agreed to pay more than $296 million in damages.

The study found Boston Scientific’s withdrawal from the market provided an opening for competitors, which may disproportionately benefit St. Jude Medical.

“Boston Scientific’s decision to suspend sales puts one-third of the market up for grabs, an extraordinary opportunity for those positioned to supply the market in the interim,” said Philip Legendy, director and senior medical device analyst at Majestic Research. “Given their historical sales footprint, we expected to see Medtronic outpacing St. Jude’s share of the new business at a ratio of about 2 to 1. Our study suggests, however, that St. Jude is running only 13 points of share behind Medtronic in converting physicians who formerly preferred Boston Scientific ICDs.”

Majestic Research’s Boston Scientific ICD withdrawal study encompasses analysis of a targeted Internet survey of 70 electrophysiologists who were surveyed from March 18 to March 24. The study evaluates physician response to the announcement and field action, the long-term impact on Boston’s ICD devices and overall company brand, which competitors will benefit, and what messaging, if any, has been communicated by sales representatives.

Majestic Research is an independent financial and market research firm.

For more information: www.majesticresearch.com

Related Content

Medtronic Begins Pilot Study of Investigational Extravascular ICD System
News | Implantable Cardioverter Defibrillator (ICD) | August 09, 2018
Medtronic plc announced the start of a pilot study of its investigational Extravascular Implantable Cardioverter...
ICD Placements Not Meeting Medicare Coverage Criteria Decline After Overuse Investigation Announced
Feature | Implantable Cardioverter Defibrillator (ICD) | July 11, 2018
Placement of implantable cardioverter defibrillators (ICDs) not meeting Centers for Medicare and Medicaid Services (CMS...
New Tool Predicts Benefits and Risks of Implantable Defibrillator for Heart Failure Patients
News | Implantable Cardioverter Defibrillator (ICD) | July 02, 2018
University of Washington (UW) Medicine cardiologists have developed a tool to predict which heart-failure patients...
Real-World Data Demonstrates Success Of Smart Pass Filter on Boston Scientific S-ICD System
News | Implantable Cardioverter Defibrillator (ICD) | May 16, 2018
Boston Scientific announced results from an analysis of the LATITUDE database evaluating the successful reduction of...
Online Message Board Advice on ICDs Reflects Inaccuracies
News | Implantable Cardioverter Defibrillator (ICD) | April 13, 2018
April 13, 2018 — Medical advice about implanted cardiac defibrillators obtained via an online message board appears t
Biotronik U.S. to Distribute Aziyo ECM Envelopes
News | Implantable Cardioverter Defibrillator (ICD) | April 12, 2018
Biotronik U.S. and Aziyo announced a strategic agreement allowing Biotronik to distribute Aziyo's CanGaroo...
Boston Scientific Launches Resonate Devices With HeartLogic Heart Failure Diagnostic
Technology | Implantable Cardioverter Defibrillator (ICD) | September 27, 2017
September 27, 2017 — Boston Scientific recently launched the Resonate family of...
Abbott Secures FDA Approval for MRI Compatibility on Ellipse ICD
Technology | Implantable Cardioverter Defibrillator (ICD) | September 22, 2017
Abbott announced U.S. Food and Drug Administration (FDA) approval for magnetic resonance (MR)-conditional labeling for...
Predictive Models May Help Determine Which Patients Benefit From ICDs
News | Implantable Cardioverter Defibrillator (ICD) | July 06, 2017
Two predictive models may help cardiologists decide which patients would most benefit from an implantable cardioverter...
Videos | Implantable Cardioverter Defibrillator (ICD) | June 01, 2017
Lucas Boersma, M.D., Ph.D., FESC, St.
Overlay Init