The global cardiac rhythm management devices market is projected to reach USD 41.67 billion by 2028, at a CAGR of 7.0% during a forecast period.

Global Cardiac Rhythm Management Market
Global Cardiac Rhythm Management Market

The management of cardiac rhythm is part of electrophysiology used to control the heart’s functioning. The last decade has seen continuing evolution and use of systems for managing cardiac rhythm, including cardiovascular resynchronization therapy, pacemakers, implantable cardioverter defibrillators, and loop recorders. General practitioners (GP) are increasingly involved in the follow-up and management of patients with these devices. Certain factors that are driving the market growth include the increasing cases of cardiovascular disorders, technological advancements, rise in the use of ambulatory and home services for cardiac monitoring, and favorable reimbursement policies.

Global Cardiac Rhythm Management Market
Global Cardiac Rhythm Management Market

According to the World Health Organization (WHO), globally, cardiovascular diseases account for more than 30% of the total deaths. Nearly 33.5 million individuals worldwide also suffer from atrial fibrillation (AFib), the most prevalent type of severe arrhythmia. With the rise in the aging population in the US and Europe, the number of patients suffering from heart rhythm disorders is likely to grow. However, therapeutic radiation used in cancer treatment can influence the operation of a patient with implantable cardiac rhythm devices. The implantable device technology uses complementary metal-oxide-semiconductor (CMOS), which is vulnerable to damage by the therapeutic doses of radiation, but can vary according to the type of the device in use. This is one of the major factors that limits the scope of using cardiac rhythm management devices, as implants are highly sensitive and their malfunctioning may have serious consequences. Moreover, high cost of these devices with limited insurance coverage is hampering market growth.

Based on type, the cardiac rhythm management devices market has been segmented into defibrillator, cardiac resynchronization therapy devices, and pacemakers. The defibrillator segment is expected to account for the largest market share during the forecast period. As per the American Heart Association (AHA), survival from cardiac arrest doubled when bystanders used a publicly-available automated external defibrillator (AED). Cardiac arrest victims who received a shock from a publicly-available AED had far more chances of survival and being discharged from the hospital than those who did not, accounting for 66.5% versus 43%, respectively. Therefore, it has been estimated that about 1,700 lives are saved in the US every year using a defibrillator. This indicates that the usage of defibrillators has experienced a significant rise, globally, over the recent years.

North America is expected to account for the largest market share for cardiac rhythm management devices. This is mainly due to the developed of healthcare infrastructure, government initiatives, and rising incidence of arrhythmia demanding more cardiac implants. According to a report by the US CDC, more than 75,000 hospitalizations can be attributed to atrial fibrillation. Moreover, it is highlighted that a large part of the US population suffers from atrial fibrillation. Therefore, it is expected to rise further during the forecast period. This market in Asia Pacific is expected to witness high growth due to the rising healthcare expenditure by governments of APAC countries, increasing cases of cardiac disorders, and growing per capita income of the population of the South Asian countries.

Key Factors Impacting Market Growth:

  • The increasing number of heart disorders across various age groups
  • Increasing demand from ambulatory care and home care
  • Rising expenditures of governments on the healthcare sector
  • The high cost of these devices with limited insurance coverage

Key Developments:

  • In February 2017, Abbott (US) announced the US Food and Drug Administration (FDA) approval of conditional labeling for magnetic resonance (MR) for both, the Assurity MRI pacemaker and the Tendril MRI pacing lead.
  • In January 2019, MicroPoort CRM (US) announced the first implants of its new pacemaker families, Eno™ and Teo™. The product features automatic MRI programming that is practical for patients and doctors, possibly reducing the expenses produced by workflows in hospitals.

What Does This Report Provide?

This report provides a detailed understanding of the global cardiac rhythm management devices market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Type:

  • Defibrillator
  • Cardiac Resynchronization Therapy Devices
  • Pacemakers

By End User:

  • Hospitals
  • Home Care
  • Ambulatory Care

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By End User
  • Western Europe:
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Type
    • By End User
  • Eastern Europe:
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Type
    • By End User
  • Middle East:
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Type
    • By End User
  • Rest of the World
    • By Region (Latin America, Brazil, Rest of the World)
    • By Type
    • By End User

Companies Covered: Abbott, Abiomed, Biotronik SE & Co KG, Boston Scientific Corporation, Koninklijke Philips NV, MicroPort CRM, LivaNova Plc, Medtronic PPLC, Pacetronix, SchillerAG, Shenzhen Mindray Biomedical Electronics Co. Ltd, and Zoll Medical Corporation 

Reasons to Buy This Report:

  • Market size estimation of the global cardiac rhythm management devices market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

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