According to a new report published by iData Research, the European cardiac rhythm management, electrophysiology and ablation market was valued at over €2.8 billion in 2010. Companies such as Medtronic, St. Jude and Biotronik have emerged as leaders, particularly in the telehealth monitoring for cardiac implantable electric device segment, which is expected to grow at double-digit rates by 2017.
The iData research also highlighted that cardiac resynchronisation therapy devices were the fastest growing in 2010 and sales will reach over €1 billion due to recent technological advances in wireless connectivity and miniaturisation. By 2017, the total European cardiac rhythm, 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,” says Kamran Zamanian, CEO of iData. “This will drive the market for diagnostic electrophysiology stimulators, recorders and catheters, as well as the market for cardiac resynchronisation therapy. Both of these markets are expected to almost double in value by 2017.”
The report states that in 2010, the UK exhibited the fastest growth per-capita in cardiac rhythm management device implantation due to NHS targets to increase the use of implantable cardioverter defibrillators and cardiac resynchronisation therapy devices in order to reach a per-capita level similar to the European average. In addition, pilot programmes for the use of remote monitoring have stimulated growth of telehealth monitoring for cardiac implantable electric devices.
Furthermore, the report states that Medtronic was the leader in the overall cardiac rhythm management market including telehealth monitoring for cardiac implantable electric devices, St. Jude, Boston Scientific and Biotronik were also top manufacturers.
iData’s 15-country report series “European Markets for Cardiac Rhythm Management, Electrophysiology and Ablation Devices 2011” and its US and Asia-Pacific reports include the latest data, market analyses and competitor profiles for over 25 market segments.