Table of Contents
Cardiac Rhythm Management Devices Market is segmented By Product Type(Pacemakers, Defibrillators, Cardiac Resynchronization Therapy) By End-Users(Hospitals, Home Care Settings, Ambulatory Care Settings)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Cardiac Rhythm Management Devices Overview
A report by DataM Intelligence estimates the Global Cardiac Rhythm Management Devices market to grow at a high CAGR Of 7.9% during the forecast period 2023- 2030. The competitive rivalry intensifies with LivaNova PLC, Physio-Control, Inc., Abbott Laboratories, and others operating in the market.
Cardiac Rhythm Management Devices Market Report Scope
By Product Type, By End User, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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Cardiac rhythm management devices market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global cardiac rhythm management devices market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.
Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. The cardiac rhythm management devices market in the United States and Canada produces the utmost share. Whereas the European cardiac rhythm management devices market is projected to continue its presence globally during the period of 2023- 2030.
Growth Drivers and Dynamics
- The increasing cases of cardiac disorder are one of the factors fueling the global cardiac rhythm management market.
- For instance, According to National Health Service, Arrhythmias or heart rhythm problems are experienced to increase by more than 2 million people each year in the UK. In the UK each year 30,000 patients suffer from an atrial fibrillation-related stroke.
- According to the Center of Disease Control and Prevention (CDC), approximately 2% of people younger than age 65 have AFib, while about 9% of people aged 65 years or older have AFib in the U.S. around 2.7 to 6.1 million people in the United States have AFib. With the ageing of the U.S. population, this number is expected to increase.
- The risk for AFib increases with age. High blood pressure, which also increases in risk with advancing age, accounts for 14% to 22% of AFib cases. More than 750,000 hospitalizations occur each year because of AFib. The condition contributes to an estimated 130,000 deaths each year.
Cardiac Rhythm Management Devices Market Segmentation Analysis
- Based on product, the global market for Cardiac rhythm management devices is broadly segmented as by pacemakers, defibrillators, and cardiac resynchronization therapy (CRT).
- Currently, defibrillators are the dominant segment and it accounts for approximately USD% of the market, due to the launch of new products and regulatory approval for defibrillators.
- For instance, In September 2017, Boston Scientific has introduced implantable cardioverter defibrillator (ICD) and cardiac resynchronisation therapy defibrillator (CRT-D) systems featuring the HeartLogic Heart Failure Diagnostic to help improve heart failure (HF) management.
- In July 2017, Physio-Control Inc., has received US FDA Premarket Approval (PMA) for HeartSine samaritan PAD 360P (SAM 360P) to sale in the United States. HeartSine samaritan PAD 360P is to analyze cardiac rhythm and automatically delivers an electric shock to victims of sudden cardiac arrest without the use of a shock button. Its user-friendly visual and audio prompts, such as CPR coaching, verbally guide the rescuer through the CPR process.
- In August 2016, Boston Scientific have received U.S. Food and Drug Administration (FDA) approval for the EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD) System, as well as magnetic resonance (MR) conditional labelling for all previously implanted EMBLEM S-ICD Systems.
- In March 2015, Boston Scientific Corporation, have received FDA and CE Mark approval of the EMBLEM Subcutaneous Implantable Defibrillator (S-ICD) System. The EMBLEM S-ICD System is a treatment option that provides protection for patients at risk of sudden cardiac arrest (SCA).
Cardiac Rhythm Management Devices Market Geographical Share
- The global market for cardiac rhythm management devices is segmented into North America, Europe, Asia Pacific, South America and ROW.
- North America is dominating the global market for cardiac rhythm management devices, due to the increase in regulatory approval and product launches for cardiac rhythm management devices.
- For instance, in January 2018, ZOLL Medical Corporation, a manufacturer of medical devices and related software solutions have received premarket approval (PMA) by the U.S. Food and Drug Administration (FDA) to market and distribute its full line of defibrillators in the U.S.
- In April 2017, Physio-Control has received U.S. Food and Drug Administration (FDA) Premarket Approval (PMA) to sell its HeartSine samaritan PAD 360P (SAM 360P) fully automatic external defibrillator (AED) in the U.S.
- In February 2017, Abbott, has received U.S. Food and Drug Administration (FDA) approval for magnetic resonance (MR)-conditional labelling for both the Assurity MRI pacemaker and the Tendril MRI pacing lead. The device has the ability to undergo full-body magnetic resonance imaging (MRI) scans. Assurity MRI pacemaker is the world's smallest, longest-lasting wireless MRI-compatible pacemaker.
- In November 2016, Medtronic plc has received U.S. Food and Drug Administration (FDA) approval for the Claria MRI Quad Cardiac Resynchronization Therapy Defibrillator (CRT-D) SureScan device for patients with heart failure.
Cardiac Rhythm Management Devices Company Competitive Analysis
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What is the Projected CAGR value of the Cardiac Rhythm Management Devices Market during the Forecast Period?
The cardiac Rhythm Management Devices market is expected to grow at a CAGR of 7.9% during the forecast period.
Which region is expected to hold the largest share?
North American region is expected to hold the largest share.
What is one of the major factor for market growth?
The increasing number of cases of cardiac disorders is one of the factors fueling the market growth.
Who are the Key players contributing to the market's growth?
The Key Players are LivaNova PLC, Physio-Control, Inc., Abbott Laboratories, Medtronic plc., Boston Scientific Corporation, Biotronik SE & Co KG, Koninklijke Philips N.V., Cardiac Science Corporation, Schiller AG, Cardiac Science Corporation.