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.
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Some of the major players in the market for cardiac rhythm management solutions are Physio-Control, Inc. (Stryker); Medtronic; St. Jude Medical; and Boston Scientific Corporation, which account for a significant share in the market owing to their extensive product offerings. Industry players are striving to gain market penetration and adopting strategies such as new product launch and M&As. In March 2019, Zoll acquired Golden Hour Data Systems to optimize its operations with a complete suite of business solutions. Cardiac Rhythm Management Devices Market Report Highlights
By product, defibrillators for cardiac rhythm management held the dominant share due to their high acceptance in countries such as U.S., China, and India
Implantable cardioverter defibrillators formed the largest sub-segment by product in 2019 owing to better patient outcome
Among external defibrillators for cardiac rhythm management, the manual variants generated the highest revenue owing to associated benefits such as converting arrhythmia or tachycardia to a normal heartbeat
Physio-Control, Inc. (Stryker); Medtronic; St. Jude Medical; and Boston Scientific Corporation are some of the major participants in CRM devices market due to their extensive product offerings and strong regional presence.
Cardiac Rhythm Management Devices Market Segmentation Grand View Research has segmented the global cardiac rhythm management device market on the basis of product and region: CRM Devices Product Outlook (Revenue, USD Million, 2016 - 2027) Pacemakers
o
Implantable
o
External
Defibrillators o
o
Implantable Cardioverter Defibrillators (ICD) o
S-ICD
o
T-ICD
External Defibrillator o
Manual External Defibrillator
o
Automatic External Defibrillator
o
Wearable Cardioverter Defibrillator
Cardiac Resynchronization Therapy (CRT) o
CRT-Defibrillator
o
CRT-Pacemakers
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CRM Devices Regional Outlook (Revenue, USD Million, 2016 - 2027) North America
o
U.S.
o
Canada
Europe o
U.K.
o
Germany
o
France
o
Italy
o
Spain
Asia Pacific o
Japan
o
China
o
India
o
Australia
Latin America o
Brazil
o
Mexico
Middle East & Africa o
South Africa
o
Saudi Arabia
Table of Content
Chapter 1 Methodology and Scope 1.1 Market Segmentation and Scope 1.1.1 Products 1.1.2 Region 1.1.3 Estimates and forecast timeline 1.2 Research Methodology 1.3 Information Procurement 1.3.1 Purchased database: 1.3.2 GVR’s internal database 1.3.3 Secondary sources 1.3.4 Primary research 1.3.5 Details of primary research 1.3.5.1 Data for primary interviews in North America 1.3.5.2 Data for primary interviews in Europe 1.3.5.3 Data for primary interviews in Asia Pacific 1.3.5.4 Data for primary interviews in Latin America 1.3.5.5 Data for primary interviews in Middle East and Africa 1.4 Information or Data Analysis 1.4.1 Data analysis models 1.5 Market Formulation & Validation 1.6 Model Details 1.6.1 Commodity Flow Analysis 1.6.2 Volume price analysis (Model 2) 1.7 List of Secondary Sources 1.8 List of Primary Sources 1.9 Objectives 1.9.1 Objective 1 1.9.2 Objective 2 1.9.3 Objective 3 1.9.4 Objective 4 Chapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Outlook Continue…………. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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