Increasing end-user awareness of therapy options boosts adoption of medical devices
MOUNTAIN VIEW, Calif., Nov. 1, 2012 /PRNewswire/ -- The rising incidence of acute cardiac rhythm-related disorders is prompting device manufacturers to innovate their cardiac rhythm management (CRM) devices. Technological advances such as device miniaturization, development of smaller durable batteries, and biocompatible materials casing enhances patient comfort and reduces mortality and morbidity rate in patients.
New analysis from Frost & Sullivan's (http://www.technicalinsights.frost.com) Cardiac Rhythm Management (CRM) Devices—Demand to Manage Global R&D Efforts research finds that less invasive procedures and constant product updates drive the adoption of CRM devices.
If you are interested in more information on this research, please email Britni Myers, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
The latter part of the 20th century witnessed a revolution in medical devices with smaller, superior features and capabilities. The advent of implantable pacemakers, implantable cardioverter defibrillators (ICD), and cardiac resynchronization therapy (CRT) improved physicians' diagnostic capabilities.
"The new technology allows clinicians to monitor patients continuously without needing frequent office visits, in turn lowering the burden of follow-up care," said Frost & Sullivan Research Analyst Darshana De. "Further evolution of CRM technology encourages the use of home-based healthcare devices that provide improved safety to patients."
These new devices are likely to find high uptake as an aging baby boomer population as well as sedentary American and European lifestyles result in disorders such as obesity and diabetes, which expand the cardiovascular patient pool. As people become increasingly aware of ailments and their therapies, there will be a wider market for advanced CRM devices.
Although the high prices of these devices tend to dampen their market prospects, their utility will ensure steady adoption and eventually, price drops. Nevertheless, recent device recalls by manufacturers as well as device-related deaths may make end-users apprehensive about purchasing these devices. To avoid such incidents in the future, the regulatory bodies have made their approval process stricter for optimum product reliability.
Currently, CRM device technology is driven by brand recognition. While key participants have retained their market shares consistently, smaller start-up companies are finding it difficult to penetrate the competitive market. The bigger players should look to establish alliances with the start-ups for the sale and distribution of their products.
"Overall, CRM is a growing market with ablation catheters, ICDs, and CRT- defibrillator devices showing high potential," noted De. "Collaborative partnerships, technological innovations, and scalability will determine the future of this market."
Cardiac Rhythm Management (CRM) Devices—Demand to Manage Global R&D Efforts, a part of the Technical Insights Growth Partnership Services program, analyzes and assesses CRM device technology trends, while providing a technology roadmap of emerging opportunities across this industry. The research also examines the adoption of CRM devices across different geographical regions and provides stakeholders with strategic recommendations. Further, this research service includes detailed technology analysis and industry trends evaluated following extensive interviews with market participants.
Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters and research services.
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Cardiac Rhythm Management (CRM) Devices--Demand to Manage Global R&D Efforts
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Contact:
Britni Myers
Corporate Communications – North America
P: 210.477.8481
F: 210.348.1003
E: [email protected]
http://www.frost.com
http://www.technicalinsights.frost.com
SOURCE Frost & Sullivan