BURLINGTON, Mass., Nov. 1, 2016 /PRNewswire/ -- Decision Resources Group finds that the US ambulatory electrocardiography (ECG) monitoring device market will grow robustly over the next ten years, driven by providers outsourcing their monitoring needs to service companies and the increased use of long-term monitoring, especially in untapped patient populations.
Other key findings from the Medtech 360 report entitled "Ambulatory ECG Monitoring Devices | Medtech 360 | Market Analysis | US | 2017":
- Revenue in this market is generated when providers purchase devices as pieces of capital equipment from hardware companies or when providers outsource monitoring prescriptions to service companies. In the latter, service companies earn revenue from the reimbursement for the prescription. As providers increasingly shift to outsourcing, market revenues expand in line with growing prescription volumes.
- The use of ambulatory monitoring is growing quickly in the post-cryptogenic stroke population thanks to the CRYSTAL-AF trial, which showed a high rate of atrial fibrillation (AF) in these patients. AF is thought to be the cause of these strokes, so identifying AF in this vulnerable patient population leads to better treatment and reduced risk of another stroke.
- Next-generation implantable loop recorders (ILRs), like Medtronic's Reveal LINQ, are smaller and have a battery life of up to 3 years. These devices have garnered considerable physician and industry interest because they can help identify dangerous arrhythmias and are a minimal nuisance for the patient. This market segment is expected to grow quickly, especially because companies like BIOTRONIK and St. Jude Medical are introducing their own next-generation ILRs.
Comments from Decision Resources Group Senior Analyst Erik Bracciodieta, MBiotech:
"The financial return on ambulatory ECG monitoring isn't getting any better for providers: reimbursement is low and there's a fair amount of overhead. To improve workflow, providers are outsourcing their monitoring needs to service companies; the service company deals with the device and data management and the provider gets a neat report at the end. Service companies earn revenue for every prescription, so the market grows with increased prescriptions and as providers outsource more."
"We hear a lot about how wearable devices will transform healthcare. Prime examples of this are patch devices that record heart rhythm. These devices are the size of your palm and you stick it on your chest for a few days, all the while it unobtrusively records your heart rhythm. This is a lot more convenient than the traditional device design with electrode cables. Expect companies that offer these devices to have an edge and drive a decent chunk of the growth in this market."
- Erik Bracciodieta has written two blog posts on the subject: about Apple's potential to disrupt the market and detailing how this market is unique from the rest of medtech.
For more information on purchasing this report, please email firstname.lastname@example.org.
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 900 employees across 14 global locations. DRG provides the pharmaceutical, biotech, medical device, financial services and payer industries with the tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.
Contact: Tori McClain, 781-993-2772
SOURCE Decision Resources Group