Growth Driven by Increase in Atrial Fibrillation Ablation Procedures using Premium-Priced Devices, According to Millennium Research Group
June 12, 2012—Toronto—
According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States electrophysiology (EP) mapping and ablation device market will grow strongly through 2016. The most significant drivers for growth will be the increase in the patient base, particularly among the elderly demographic, and the growth in atrial fibrillation (AF) procedures using premium-priced diagnostic and ablation devices.
Atrial fibrillation is more common among the growing population of the elderly. An increasing proportion of diagnosed atrial fibrillation cases are being treated via ablation, as both physician confidence and the devices used in these procedures improve. A growing amount of positive clinical data has been demonstrating the efficacy of AF ablation when compared to the traditional first-line treatment of anti-arrhythmic drugs.
As a result, AF ablation will be the fastest growing procedure type in this market, increasing at an average annual rate of 16 percent. Ablation devices geared specifically toward the treatment of atrial fibrillation will thus drive unit growth, such as the Arctic Front cryoballoon by Medtronic and the ThermoCool SF radiofrequency irrigated-tip catheter by Biosense Webster. Since these devices carry premium prices, their sales will have a significant positive effect on revenues.
“Currently, there are only two catheters specifically approved by the Food and Drug Administration (FDA) for AF ablation,” said MRG Analyst Mirel Giugaru. “However, the demand is so great that a number of others are being used off-label for AF ablation, many of them premium-priced as well. Many companies are seeking FDA approval specifically for atrial fibrillation.”
Also benefiting from the increase in atrial fibrillation procedure volumes are advanced types of diagnostic catheters, such as steerable, loop and ultrasound. For diagnostic catheters, however, competition can come in the form of reprocessing. Physicians have indicated they are content with the performance of reprocessed devices, and the cost savings for facilities can be significant, a particular driver under current economic conditions. As the economic situation has worsened, price has become a relatively greater consideration. The market for reprocessed diagnostic catheters will grow at an average annual rate of 25 percent through 2016.
Decision Resources Group Competitive Landscape Seminar Series: Cardiovascular
Media members can attend our survey of the global cardiovascular market for free. Join us.
June 22, 2012
Learn about this Medtech 360 Report:
US Markets for Electrophysiology Mapping and Ablation Devices 2012
Includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape analysis for EP lab systems, EP diagnostic catheters, and EP ablation catheters in the United States.