Cardiac Rhythm Management Devices Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global cardiac rhythm management devices market size is anticipated to reach USD 34.1 billion by 2027, as per a new report by Grand View Research, Inc., registering a CAGR of 6.8% over the forecast period. The market has shown constant growth in the adoption of cardiac rhythm management (CRM) devices owing to increasing prevalence of cardiovascular disorders. Cardiovascular Diseases (CVDs) are one of the main causes of mortality in the U.S.; one-fourth of all deaths in the country are the result of CVDs. Stroke and ischemic heart disease account for more than 80% of all cardiac deaths worldwide. According to CDC in 2017, CVDs were responsible for about 800,000 lives lost in the U.S. Reimbursement policies, such as those introduced by the U.S. Medicare system, are among the major factors boosting the CRM market. Medical device companies now provide new product platforms that are covered under reimbursement programs, which benefit cardiac patients. Reimbursement can be availed for devices such as biventricular pacemakers, single chamber, and dual chamber. Revolutionary technological progresses are rapidly transforming the CRM devices market, offering lucrative growth potentials. Increase in R&D expenditure and new product launches by leading firms have further fueled market growth. For instance, Biotronik’s Rivacor and Acticor, both high voltage CRM devices for cardiac arrhythmia treatment, gained FDA approval in March 2019. In May that year, Medtronic launched the CareLink SmartSync Device Manager.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/cardiacrhythm-management-devices-industry