This Frost Radar™ analyzes emerging trends in the atrial fibrillation (AFib) landscape and profiles key market participants that deliver innovative solutions and maintain leadership in major segments in the care continuum, such as screening and monitoring, image-guided navigation and cardiac mapping, cardiac ablation, and left atrial appendage (LAA) occlusion.
AFib is the top cause of blood clots that lead to stroke, and persons with the condition are five times more likely to suffer a fatal stroke. The prevalence of AFib is about 3% of the general population and is expected to double over the next 30 years. The estimated market size of medical devices to diagnose and treat AFib is expected to reach about $15 billion in 2025. Abbot, Biosense Webster (J&J), Boston Scientific, and Medtronic lead the market for minimally invasive intervention for diagnosis and surgical treatment by offering a plethora of electrophysiological diagnostic and interventional devices. However, the market for screening and monitoring is witnessing the emergence of disruptive start-ups building clinical-grade personal ECG devices with superior specificity and sensitivity parameters. The increase in the number of catheter-based procedures and the introduction of technologically advanced cardiac ablation devices are expected to drive growth for EP ablation segment. Novel catheter-based technologies, such as contact force sensing, pulsated field ablation (PFA) and titratable laser energy are expected to gain more adoption in cardiac ablation procedures. Advanced 3D cardiac mapping and robotic navigation systems from Philips and Stereotaxis are making ablation procedures quicker and efficient. There is increasing collaboration between companies specializing in ablation segment and those specializing in cardiac mapping and navigations. Similarly, established device companies are likely to create synergistic partnerships with or strategically acquire emerging start-ups in the screening segment to keep pace with technological advancement and create a pipeline of cutting-edge products. The screening segment is expected to show higher growth in the care continuum due to greater emphasis on early detection and remote monitoring through clinically validated handheld devices and patches. Companies, such as AliveCor and iRhythm Technologies, have disrupted the screening and monitoring of heart rate variability (HRV) by making more compact and user-friendly devices, in addition to building robust data analytics for an accurate diagnosis.
The Frost Radar™ reveals the market positioning of companies in an industry using their growth and innovation scores as highlighted in the Frost Radar™ methodology. The document presents the competitive profiles of each of the companies and provides insight into their innovation capabilities, growth potential, and future roadmap. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the growth and innovation indices are recognized as best practice recipients.
Author: Srinath Venkatasubramanian
Strategic Imperative
Strategic Imperative (continued)
Growth Environment
Growth Environment (continued)
Growth Environment (continued)
Growth Environment (continued)
Frost Radar™: Medical Devices in Atrial Fibrillation Market
Frost Radar™: Competitive Environment
Frost Radar™: Competitive Environment (continued)
Abbott Laboratories
AliveCor®
AtriCure
Baylis Medical
Biosense Webster (Johnson & Johnson)
Biotronik
Boston Scientific
Cardiofocus
Eko Health
Firstbeat Technologies
iRhythm Technologies
Japan Lifeline
Medtronic
Microlife AG
Microport Scientific
MyDiagnostick Medical (Applied Biomedical Systems)
Occlutech
Omron
Osypka AG
Philips
Stereotaxis
Vital Connect
Zenicor
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Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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In the Atrial Fibrillation market, novel therapy technologies, like contact force sensing and revolutionary catheter ablation technologies, in minimally invasive non-surgical procedures are being developed by challenger companies as well as market leaders. Market leaders and entrenched incumbents are scouting challenger companies for inorganic growth opportunities that will help sustain the former group’s leadership in the therapy segment. The therapy segment has witnessed vigorous consolidation, where the innovative, niche participants in ablation and left atrial appendage (LAA) closure space have been the targets of bolt-on acquisitions. Innovative start-ups are focusing on developing platforms that offer long-term screening and monitoring of AFib as it will ensure complete customer engagement and has the highest growth potential.
In a field of more than 50 global industry participants, Frost & Sullivan independently plotted the top 23 companies in this Frost Radar™ analysis. Parameters assessed in the analysis included:
•Innovation Scalability
•Research and Development
•Product Portfolio
•Mega Trends Leverage
•Customer Alignment
•Growth Pipeline
•Vision and Strategy
•Sales and Marketing
| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Srinath Venkatasubramanian |
| Industries | Healthcare |
| WIP Number | K4BB-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9A47-B1,9A48-B1,9A49-B1,9A4B-B1 |
Frost Radar™: Medical Devices in Atrial Fibrillation Market, 2020
Benchmarking Future Growth Potential
05-Aug-2020
North America
Frost Radar