Abstract
Market demand, innovative products, government regulations and reimbursement
policies are the four factors that have been changing the global healthcare
industry continuously. These factors have also influenced the market for
specialized medical devices - Cardiac Rhythm Management (CRM), which mainly
comprises Implantable Cardiac Rhythm Devices (ICD) and Pacemakers.
ICDs
constitute more than 60% of the global CRM market and served as the major
growth driver for CRM market. However, in 2006, the market registered a
negligible growth following product recalls by leading companies like
Medtronic and Guidant/Boston Scientific. Nevertheless the ICDs segment is
expected to grow at a satisfactory rate 2008 onwards and specifically in
Europe and other emerging countries.
The recall of ICDs by world' s top
medical device manufacturers -- Medtronic and Guidant/Boston Scientific in
2005 became the major reason behind the market slow down during 2006.
On the
other hand, the market for pacemakers is heading towards saturation especially
in the USA and Europe because of the high penetration rates by population in
these regions. Still, in Japan and in other Asian countries like China and
India, it holds tremendous potential.
The current report analyzes the CRM
market with specific focus on ICDs. In the present study, the growth of ICDs
and pacemakers in the last four years has been assessed and the future
potential of these markets has been studied. As only three companies --
Medtronic, St. Jude and Boston Scientific is defining this market space, these
companies have been profiled and their strategies mapped. Further, the report
also presents an assessment of the future of the CRM market.
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