European Cardiac Rhythm Management Market Experiences Growth

Implantable cardiac resynchronization therapy devices, advanced technologies such as ablation catheters, and the cost benefits accrued to individual national healthcare systems are invigorating the expansion of the cardiac rhythm management (CRM) market in Western Europe. These are the latest findings of Frost and Sullivan (Palo Alto, CA, USA), an international consulting firm.

The CRM market consists of a select few market participants, trying to sell high-cost, life-saving devices. Each manufacturer utilizes bipolar leads, biventricular pacing devices, high rate-adaptive pacing devices, and sophisticated algorithms to capture and translate the captured data, and the price difference between these devices is fairly marginal. Thus, the inability of niche participants to distinguish themselves is a characteristic of the market, and without product differentiation, they have been unable to capture the attention of consumers. Another concern, especially for end users, is device mortality; and battery life is one of the key factors that contribute to device longevity. Trends related to thin-film battery technology and high-energy batteries are positive, auguring well for future market prospects, but this demands an even greater focus on developing the durability of batteries, as well as other factors that contribute to device longevity. Moreover, CRM device manufacturers should continually monitor the market and steadily invest in research and development to promote product innovation and differentiation.

"Each manufacturer strives to introduce their own device features and innovations to differentiate their devices; it essentially amounts to how these devices are perceived in the mind of specialists,” said Frost & Sullivan research associate Sreevidhya Praveen. "It is critical for companies to brand their technology and establish themselves in the minds of consumers.”

"To position a company for future growth, building an effective channel to profitably distribute lower cost equipment to new, emerging users is absolutely essential,” added Mr. Praveen. "At the same time, international manufacturers should aim to establish alliances with smaller participants for the sale and distribution of their products.”

The major segments of the CRM market are achieving rapid penetration, indicative of a flourishing space for new devices, and the industry reveals natural, organic growth with all market participants set to make revenue gains. Frost and Sullivan have found that the European CRM market earned revenues of U.S. $3.4 billion in 2008 and is estimated to reach $7.3 billion in 2015.

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