CRM, Electrophysiology and Ablation Market to Reach Over $12 Billion
VANCOUVER, June 8 /PRNewswire/ - According to a new report by iData Research (www.idataresearch.net), the leading global authority in medical device and pharmaceutical market research, the U.S. cardiac rhythm management (CRM), electrophysiology and ablation device market is estimated at $8.1 billion with expected growth to over $12 billion by 2016.
Increased incidence of cardiac disease and improved diagnostic technology will drive growth in cardiac ablation and electrophysiology procedures, the combined markets for which are expected to reach over $1 billion by 2016. Steerable electrophysiology catheters are expected to cannibalize the fixed-curve market. In addition, the external cardiac defibrillator market, especially automated external defibrillators, is expected to benefit from state legislation changes that mandate their placement in schools, public buildings and certain types of workplaces across the U.S.
Heart failure afflicts nearly 5 million Americans and is the most costly cardiovascular illness, with an estimated $30 billion spent on managing heart failure each year. CRM devices, such as pacemakers, implantable cardioverter-defibrillators (ICDs) and cardiac resynchronization therapy devices (CRTs), are implanted in patients with arrhythmias to correct cardiac pacing and/or restart the heart after a sudden cardiac event.
"The fastest growing market segments in the CRM, electrophysiology and ablation market are expected to be CRTs, ICDs and diagnostic electrophysiology catheters," says Dr. Kamran Zamanian, CEO of iData. "Ablation devices, for the treatment of cardiac arrhythmias, will also see strong growth due to expected FDA approval for balloon cryoablation devices."
The report also states that companies such as Bard (NYSE: BCR), Biosense Webster, Cardiac Science (NASDAQ: CSCX), Medtronic (NYSE: MDT), Philips, St. Jude Medical and Zoll lead the market, among many others.
iData's global 3-report series on the "Markets for CRM, Electrophysiology and Ablation Devices 2010" covers pacemakers, CRTs, ICDs, cardiac stimulation leads, external-defibrillators, ablation and EP catheters, electrophysiology stimulators and cardiac monitoring devices.
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About iData Research
iData Research (www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: CRM, peripheral vascular, interventional cardiology, vascular access, cardiac surgery, pharmaceuticals and more.
SOURCE iData Research Inc.