Defibrillator Industry Growth Slows Despite Large Untapped Market
The Wall Street Journal explores (paid sub. required) the paradox posed by slowing growth in the cardiac defibrillator market even though an estimated 85 percent of patients who would need one don’t have one. After all, about 400,000 people die from sudden cardiac death (SCD) each year in the US alone, mostly because of ventricular fibrillation. This condition by the way is completely different from heart attacks though they increase risk of future SCD because they can reduce the left ventricle’s ejection fraction (EF). But three main challenges for the big three players and their smaller competitors explain this slower-growth trend in implantable cardioverter defibrillator (ICD) sales:
- Repeated product recalls have raised safety concerns from doctors and patients. Market leaders need to restore confidence in their products for stronger growth to kick off.
- Medicare is increasing cost-cutting pressure by calling for a 22 percent cut in hospital reimbursment for defibrillator surgery.
- Primary-care doctors (internists and family doctors) are not necessarily aware of when defibrillators would be appropriate for their patients at risk because of cardiac arrhythmias.
April 24, 2006 Related topics: Medical Devices & Products, Trends, Cardiology