Cardiac Rhythm Management Devices Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD847 | Last Updated On: Jun 27 2022 | Available Formats

> Global Cardiac Rhythm Management Devices Market Expected to reach a high CAGR of 7.9% By 2029: DataM Intelligence

Global Cardiac Rhythm Management Devices Market is segmented By Product Type(Pacemakers , External Pacemakers, Implantable cardioverter-defibrillator,) 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, 2022-2029

 

Market Overview

The Global "Cardiac Rhythm Management Devices Market" is expected to grow at a high CAGR of 7.9% during the forecast period (2022-2029).

  • Cardiac rhythm management (CRM) devices are used to treat patients with abnormal heart rhythm disorders. Heart rhythm problems can be classified into abnormally slow (bradycardia) and abnormally fast (tachycardia). These conditions are managed by cardiac rhythms management devices such as defibrillators (ICD), pacemakers, and cardiac resynchronization therapy (CRT).
  • Increased hypertension and excessive smoking lead to a high risk of cardiac disorders. This may result in more need for cardiovascular therapeutic instruments such as CRT devices, Pacemakers, and ICDs are considered as standard treatment options for cardiac rhythm management across the world

Market 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.

Market Segmentation

  • 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 XX% 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).

Geographical Share

  • The global cardiac rhythm management devices market is segmented into North America, Europe, Asia Pacific, South America and ROW.
  • North America is dominating the global cardiac rhythm management devices market, 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.

Competitive Analysis

  • The product launch and regulatory approval for cardiac rhythm management devices are one of the key factors driving the global cardiac rhythm management devices market.
  • For instance, in June 2018, Royal Philips, a global leader in health technology, has introduced Philips HeartStart Onsite automated external defibrillators (AEDs) to create a cardiac arrest response system in collaboration with Starting Hearts and medic assist.
  • In March 2017, Zoll Medical Corporation has received FDA premarket approval for its wearable external defibrillator for use in the hospital. Zoll got approval for its LifeVest, and the company has developed a similar product for home use.
  • In May 2017, Medtronic plc, has received U.S. Food and Drug Administration (FDA) approval for a portfolio of quadripolar cardiac resynchronization therapy-pacemakers (CRT-Ps) that improve therapy delivery for patients with heart failure.
  • In April 2016, St. Jude Medical, Inc., a global medical device company, has received U.S. Food and Drug Administration (FDA) approval for MultiPoint Pacing technology and launch the first U.S. implants of the Quadra Assura MP cardiac resynchronization therapy defibrillator (CRT-D). MultiPoint Pacing technology is a revolutionary approach designed for CRT patients who are not responsive to other pacing options.

Trending Topics

Cardiac Pacemaker Market

Implantable Cardiac Pacemaker Treatment Market

Pediatric Interventional Cardiology Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest