GlobalData: Europe Electrophysiology Devices Market - Increasing Demand to Drive Growth on reports-research.com
A new report by GlobalData, the business intelligence specialists, finds that a large unmet need and an increasing physician confidence in the electrophysiology techniques is driving the revenue growth and investor interests in the Europe electrophysiology devices market. GlobalData’s report, Europe Electrophysiology Devices Market: Increasing Demand to Drive Growth, highlights this development as one of the key driver for the Europe electrophysiology devices market.
European Electrophysiology Devices Market Forecast to Reach $563.1 Million In 2015
The European market for electrophysiology devices is forecast to reach $563.1 million in 2015 with an annual growth rate of 7.1% from 2008 to 2015. The market is expected to be driven by rising number of arrhythmia patients, under penetration of the market, positive reimbursement policies of private and public insurers, limitations of current drug therapy treatment for arrhythmias and improved product lines.
Diagnostic Catheters and Ablation Catheters to Drive the European Electrophysiology Market In The Future
Electrophysiology diagnostic catheters and ablation catheters accounted for 87.5% of the overall European electrophysiology devices market in 2008. The electrophysiology diagnostic catheters market, valued at $209 million in 2008, is forecast to grow by 6.8% annually for the next seven years to reach $332.2 million by 2015. The key factors driving growth in the electrophysiology diagnostic catheters market are the increasing arrhythmia population and the juvenile growth stage of this market.
The electrophysiology ablation catheters market was valued at $96.3 million in 2008. Driven by a large unmet need, strong clinical data and improved products to be rolled out in the next two to three years, the electrophysiology ablation catheters market is forecast to grow by 9.8% annually for the next seven years to reach $185.5 million by 2015.
Improving Physician Confidence to Drive Growth in the Electrophysiology Ablation Catheters Market
Electrophysiologists in Europe have been slow in their acceptance of catheter ablation therapy for Atrial Fibrillation (AF) due to insufficient clinical data. The encouraging clinical data from BioSense Webster’s multicenter study should give enough confidence to electrophysiologists to adopt catheter ablation as a more viable treatment for patients suffering from atrial fibrillation.
Multiple new products are expected to hit the European catheter ablation market in the next two years with features such as improved safety, higher efficiency and reduced procedure time. Strong clinical data, improved adoption of catheter ablation for treating AF by electrophysiologists, and improved products to be rolled out in the next two to three years is expected to add 30%-40% to the overall European electrophysiology ablation catheter market growth over the next seven years.
Increased Dynamism Expected Within the European Electrophysiology Competitive Landscape
BioSense Webster, St. Jude Medical and C.R. Bard remained the leading competitors in the European electrophysiology devices market and accounted for 74.1% of the total market share in 2008. BioSense Webster remained the market leader with a share of 43.8%. The competition to gain a major stake in the high potential European catheter ablation market for atrial fibrillation is quite intense between BioSense Webster, St. Jude Medical and Medtronic.
Medtronic acquired CryoCath Technologies in 2008 and Ablation Frontiers in early 2009. The acquisitions gave Medtronic a relatively easier entry into the European ablation catheter market. These acquisitions followed the acquisition of EP Medsystems by St Jude Medical and CryoCor by Boston Scientific. Market players’ interest in acquiring small companies is stemming from the fact that the targeted companies pipeline products expand their product portfolio, improves their market share and even provides them an entry into a niche market segment.
GlobalData: Europe Electrophysiology Devices Market: Increasing Demand to Drive Growth:
http://www.reports-research.com/studien/europe-electrophysiology-devices-market-increasing-demand-drive-growth-p-62182.html
GlobalData: More market data and market reports:
http://www.reports-research.com/studien/globaldata-m-304.html
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03.07.2009 - 0:00 Source: pressbot.net | Read: 71 X