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Backlash from Device Failures in Cardiac Rhythm Management Stunts Market Expansion in 2005 - Frost & Sullivan finds that the U.S Cardiac Rhythm Management Market earned revenues of $5.99 billion in 2005 and estimates this to reach $16.79 billion in 2012.
Backlash from Device Failures in Cardiac Rhythm Management Stunts Market Expansion in 2005

 

NewswireToday - /newswire/ - San Antonio, TX, United States, 2006/03/28 - Frost & Sullivan finds that the U.S Cardiac Rhythm Management Market earned revenues of $5.99 billion in 2005 and estimates this to reach $16.79 billion in 2012..

   
 
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Recalls in the Cardiac Rhythm Management Devices industry, affecting over 200,000 devices from most major manufacturers, lead to heightened anxiety over device safety resulting in decreased market growth for 2005. Manufacturers, capable of handling heightened regulatory scrutiny in addition to the challenge of assuaging provider and patient apprehension over device safety, should be able to capitalize on the continued overwhelming patient need for interventional cardiac arrhythmia treatment. The high degree of spending and effort put in to CRM technology has produced a more refined arsenal of devices to diagnose and correct cardiac arrhythmias than ever before. Equally, as patient demand continues to surge this combination of demand and technological developments, including rate adaptive pacing and remote telemonitoring, opens up a great opportunity for market expansion in the Cardiac Rhythm Management Market.

Frost & Sullivan finds that the U.S Cardiac Rhythm Management Market earned revenues of $5.99 billion in 2005 and estimates this to reach $16.79 billion in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the U.S Cardiac Rhythm Management Market, then send an e-mail to Melina Trevino - Corporate Communications at melina.trevino[.]frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.

“Refinement of implantation procedures and progression of technology have drastically improved the viability of utilizing medical device technology to effectively and comprehensively treat patients living with the life-threatening and debilitating side effects of cardiac arrhythmia,” explains Frost & Sullivan Research Analyst Venkat Rajan.

The difference between an open-heart procedure compared to a minimally invasive approach is drastic in the minds of providers evaluating a patient for a medical device implant or cardiac ablation procedure. The ability to accurately perform lead placement and cardiac ablation lesion targeting is paramount to the long-term success of the procedure. Advancements in imaging, navigational tools, and device size have enabled a new leap in cardiac rhythm treatment.

"One of the biggest challenges in the cardiac rhythm management market, as in many industries, is trying to supplant a market leader that has controlled over 50 percent of the market for the past 20 years," notes Rajan. "Altering market perception of one’s products, and establishing brand recognition on safety and reliability over all other market participants in order to expand market size is a significant hurdle."

Unlike other medical device markets, the CRM market is not hindered by long-term distributor alliances, or bulk sale discounts. Market participants that can couple the inherent swell of demand for CRM products with an aggressive marketing strategy could significantly expand their market role. Combining an understanding of external market perception of ones devices, and incorporation of device features that provide the most customer value, supported by a robust and skilled sales team are some of the core elements necessary to ensure long-term success.

U.S. Cardiac Rhythm Management Market is part of the Medical Device Subscription, which also includes research in the following markets: Medical Catheters Market, U.S. Congestive Heart Failure Devices Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

 
 
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Backlash from Device Failures in Cardiac Rhythm Management Stunts Market Expansion in 2005

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Publisher Contact: Melina Trevino 
210.247.2440 melina.trevino[.]frost.com
 
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