Daily Newsletter

21 September 2023

Daily Newsletter

21 September 2023

EU Antitrust regulators raid offices of company active in cardiovascular medical devices

European Commission launches investigation into cardiovascular medical device company for potential antitrust violations.

Kiays Khalil September 20 2023

The European Commission has initiated without warning an inspection at the facilities of a company specialising in medical devices for cardiovascular applications.

The surprise inspection of the unnamed company follows concerns that the firm has been abusing and breaching EU antitrust regulations, related to Article 102 of the Treaty on the Functioning of the European Union, prohibiting abuses of a dominant market position.

Neither the company nor location of the company has been named yet but it has been identified as a manufacturer of cardiovascular medical devices.

Commission officials, armed with the authority to conduct such investigations, were accompanied by counterparts from the national competition authority of the Member State where the inspection was carried out.

Surprise inspections such as this are one of the courses of action to cull suspected anti-competitive behaviour. Although it shouldn’t imply that the company under scrutiny is guilty as the process is designed to be impartial and fair - allowing the company in question to defend themselves if they have been involved in anticompetitive practices. The EU commission will also allow the suspected company to present their case in antitrust proceedings before any conclusion is met.

The industry will be following this case closely as the outcome could have a far-reaching impact on the medical device sector.

According to a GlobalData report, global market value for cardiovascular devices will grow at a compound annual growth rate (CAGR) of 6% to $62 billion by 2025.

Medical robotics set to witness robust growth in the next decade

GlobalData expects every segment of the medical robotics market to grow over the next decade, driven by the demands of high-volume procedures. Per GlobalData forecasts, the surgical robotics market is expected to grow at a CAGR of 8% by 2030. Surgical robots improve patient outcomes, reduce human error, and decrease the length of hospital stays. New surgical robot models will offer new surgical possibilities, such as micro-robots to address difficult-to-treat diseases.

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