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According to a new series of reports on the European markets for cardiac rhythm management (CRM) by iData Research, the average selling price (ASP) of pacemakers across Europe has been declining due to saturated market conditions and the introduction of new technologies. Prices in Germany are low due to the combined purchasing power of the German healthcare system, as well as general price competition. However, the ASP in France is high due to the generous reimbursement rate set by the government for pacemaker procedures. As prices in France are effectively set by the government, there is no price competition in the market. In Spain, the ASP for pacemakers is the highest in Europe, primarily as a result of the relatively small size of the market.
Pacemakers are priced in tiers. Top-tier pacemakers (premium devices) offer comprehensive special features while lower-tier pacemakers (standard devices) offer few, if any, special features, and mid-tier products offer a subset of advanced features. Some of these features include longer battery life, smaller generator sizes and more dependable capture thresholds throughout the life of the pacemaker. In Europe, roughly 70% of all pacemaker devices are premium products, the rest of the market are standard and advanced products. These numbers hold true for most CRM devices including implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy (CRTs) and leads.
“Advances in cardiac monitoring equipment and software will allow more patients with arrhythmias to be diagnosed, especially paroxysmal arrhythmias that are detectable only during short infrequent episodes,” explains Dr. Kamran Zamanian, CEO of iData. “This will contribute to increasing demand for pacemakers, ICDs and CRT devices.”
While pacemaker technology is relatively well established, new technology is still being introduced. Over the next few years, new technology will primarily take the form of miniaturization, improved software, wireless connectivity, increased battery life and MRI-safe devices. These new technologies will moderate the rate of pacemaker price decreases. Miniaturization is valued for increasing patient comfort, while wireless connectivity allows for home or remote monitoring as a substitute for regular doctor’s office visits.
Medtronic leads the pacemaker market with roughly 40% share. Medtronic pioneered the development of pacemakers and has long been the leading manufacturer. Medtronic was first to market in the U.S. with its FDA-approved MRI-safe pacemaker, Revo MRI™ SureScan™. The MRI-safe product has played a significant part in reinforcing Medtronic’s hold on market share.
Medtronic and St. Jude Medical launched wireless adapters to complement their remote cardiac telemetry and monitoring services. St. Jude Medical has the most competitive pricing model and leverages relationships from their electrophysiology and cardiac ablation business to gain more accounts within the CRM market. St. Jude Medical has made efforts to increase their visibility in teaching and academic hospitals, which translates to increased brand recognition and loyalty. Other competitors in the European pacemaker maker include Boston Scientific, Biotronik, Sorin, Cameron Health, GE Healthcare, Lepu Medical, Oscor, Osypka Medical and Vitatron among others.
For Further Information
More on the pacemaker market in Europe can be found in our report published by iData entitled European Markets for Cardiac Rhythm Management Report Suite, which covers 15 countries in Europe as well as market segments for pacemakers, implantable cardioverter defibrillators, cardiac resynchronization therapy devices, cardiac lead, external defibrillators, cardiac ablation, diagnostic electrophysiology devices, and electro-cardiograph and cardiac monitoring devices.
The iData series on the market for cardiac rhythm devices also covers the United States. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. Register online or email us at [email protected] for an European Markets for Cardiac Rhythm Management Report Suite brochure and synopsis.
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Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by state, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
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