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July 25, 2018

Boston Scientific to challenge Medtronic in the cryoablation market

On July 5, Boston Scientific announced an agreement to acquire Cryterion Medical, a company developing a cryoablation platform to treat atrial fibrillation (AF).

By GlobalData Healthcare

On July 5, Boston Scientific announced an agreement to acquire Cryterion Medical, a company developing a cryoablation platform to treat atrial fibrillation (AF). Medtronic is currently the only player in the cryoablation market with its Arctic Front Cryoablation System. With Boston’s upcoming entrance into the market, Medtronic will face tough competition within the electrophysiology space.

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With the increasing incidence of AF, the electrophysiology market is expected to grow rapidly over the next few years. Radiofrequency (RF) ablation is still the preferred treatment choice, but cryoablation has gained momentum through successful clinical trial results that showed similar patient outcomes to patients treated using RF ablation catheters, as well as the fact that cryoablation is potentially safer and has fewer post-procedural complications. Furthermore, the cryoballoon is much simpler to use compared to the RF ablation technique, which requires “precise mapping and point-by-point ablation”.

Medtronic’s strong presence in the electrophysiology market is driven by its dominance within the cryoablation space, where it is a pioneer of cryoablation technology. However, outside of cryoablation, Boston Scientific’s presence has been much stronger than Medtronic’s in both the ablation and diagnostic spaces since the acquisition of C.R. Bard’s electrophysiology business in 2013. With Boston Scientific having a strong product portfolio in RF ablation and diagnostic catheters, Medtronic’s growth in the electrophysiology market is somewhat limited due to its comparatively weaker portfolio outside of cryoablation. Medtronic faces limitations in growth due to the higher cost of the cryoablation system and the complexity around producing the catheters, which need to be built by hand.

Cryoablation is becoming increasingly preferred due to its ease of use and successful outcomes. With an established presence in the electrophysiology market, Boston Scientific’s strategic entrance into the cryoablation space will become Medtronic’s biggest threat in the years to come.

Related Companies

Free Report
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Find the right pricing strategy for your medical device

How do your competitors set prices in different markets? Will reducing your prices win market share from your main competitors? Do you need to position products differently for different markets? To find out, use our Global Brand Pricing tool to achieve optimal pricing for your devices. Detect price changes, understand competitor market positioning, and plan new product launches, by accessing this tool today. It features:
  • A proprietary algorithm that leverages numerous pricing sources, with an emphasis on real-world data
  • Estimates of the likely spread of selling prices per brand and manufacturer, as well as 3-year forecasts for prices
  • Medical device pricing data that can be tracked by market, company, and brand
  • Additional categories that can be built on a custom basis
Use our tool to access competitor pricing strategies across multiple geographies, and various dynamic case studies from the likes of Germany and China, to benchmark yourself against your competitors and future proof your pricing strategies.
by GlobalData
Enter your details here to receive your free Report.

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