- Report ID: BMRC 446 | Number of pages: 195 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Cardiac Rhythm Management Devices Market is valued around USD 19.48 Billion in 2019 and expected to reach USD 23.90 Million by 2026 with the CAGR of 2.96% over the forecast period.
Global Cardiac Rhythm Management Devices Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2020-2026– Increase in innovative and advanced technology requirements in healthcare products. Prevalence of cardiac-related patients and diseases are some factors driving the market of cardiac Rhythm Management devices market.
Cardiac Rhythm Management Devices Market report is segmented on the basis of product, application, end-user and region & country level. Based upon product, global cardiac rhythm management devices market is segmented into pacemakers, defibrillators and cardiac resynchronization therapy (CRT). Based on application, the cardiac rhythm management devices market is segmented into bradycardia, tachycardia and heart failure. Based on end-user, the cardiac rhythm management devices market is segmented into hospitals, home settings and ambulatory surgical center.
Cardiac Rhythm Management Devices are the devices made to prevent the unfortunate events with the cardiac patients. However prevalence of heart diseases is increasing day to day, need of prevention to these diseases is increasing and so are the technology standards. Healthcare technology is getting so advance that it came up with cardiac prevention devices to poised heart related issues. Innovation of healthcare is reaching the next level of technology. Cardiac rhythm management may be a treatment of heart rhythm disorders or fibrillation. Heart rhythm disorders roots– palpitations and Wobbly spells to sudden a systole.
Cardiac rhythm management devices are specially designed to prevent sudden attacks it includes pacemakers- a pacemaker may be a small device that's placed within the chest or abdomen to assist control abnormal heart rhythms. This device uses electrical pulses to prompt the guts to beat at a traditional rate. Pacemakers are used to treat arrhythmia’s these Arrhythmia's are problems with the speed or rhythm of the heartbeat and Cardiac reorganization therapy devices - Cardiac re-synchronization therapy uses an instrument called a bi-ventricular pacemaker which delivers electrical signals to both of the lower chambers of heart called ventricles. The signals tell ventricles to contract at an equivalent time, maximizing the quantity of blood that's pumped out of patient’s heart and implantable cardiac defibrillators- ICDs are useful in preventing overtime in patients with known, sustained ventricular tachycardia or fibrillation. Studies have shown ICDs to possess a task in preventing a systole in high-risk patients who haven't had, but are in danger for, life-threatening ventricular arrhythmias.
Global Cardiac Rhythm Management Devices market is segmented on the basis of type, application and region & country level. On the basis of type, the market is segmented into pacemaker, ICD and BI-V ICD. On the basis of application, the market is segmented into bradycardia, tachycardia, heart failure and others.
Cardiac rhythm management devices include pacemaker, cardiac resynchronization therapy, implantable cardioverter defibrillators and loop recorders heart failure. These devices perform various type of functions such as; bradycardia pacing for tachyarrhythmia. Nowadays there is an increase in the number of heart and cardiac disorders due to the sedentary lifestyle among the population and increase the demand for cardiac rhythm management devices. According to WHO report, in 2015 cardiovascular disease was the leading cause of the deaths accounted for 17.7 million deaths worldwide. Adding into the cardiac rhythm management device technology the one most important technology is implantable device that uses complementary metal oxide semiconductor (CMOS) which are vulnerable to damage by the therapeutic doses of radiation, but it can vary according to the type of device in use. This factor is one of the major factors that limits the scope of using cardiac rhythm management devices, as the implants are highly sensitive and their malfunctioning may have serious consequences.
The regions covered in this Global Cardiac Rhythm Management Devices Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of cardiac rhythm management devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Global Cardiac Rhythm Management Devices Market Report covers prominent players are like Medtronic, St. Jude Medical (Abbott), Boston Scientific, Biotronik, LivaNova (Sorin), Medico, IMZ, Cardioelectronica, CCC, Pacetronix and Qinming Medical and others.
Biotronik Launched Edora Series Pacemakers and Quadripolar CRT-Ps.
March 23rd, 2017- Biotronik announced the ecu launch of the Edora series, its smallest series of pacemakers and cardiac resynchronization therapy pacemakers (CRT-Ps). The new devices are equipped with features geared towards improving patient safety, therapy and luxury. Also, Edora pacemakers are pointedly smaller and lighter than previous models, achieving compactness and full functionality without compromising battery life. To facilitate patient access to MRI, Edora pacemakers and CRT-Ps are MR-conditional and have Biotronik’s MRI Auto Detect functionality. It means that in a programmable window of equivalent to 14 days, the device’s built-in sensor can detect an MRI environment and automatically switch the system to MRI mode. The device then Routinely Change back to its standard mode once the scan is complete. Since the device is merely in MRI mode for the duration of the scan, the patient receives optimal therapy for the utmost amount of the time.
Global Cardiac Rhythm Management Devices Market Dynamics-
Incresaing prevalence of cardiac disease is one of the major factors driving the growth of market. For example; every year in U.S approximately 17.9 million people die each year due to cardiac problems. Technology in healthcare is a wide field in which innovation and technology plays a crucial role for sustaining health. Innovation is need of today, in the healthcare field every single disease has to pass from any kind of devices. It is noticeable that innovation in technology is changed many lives and in cardiology, it is the most important thing. Companies are innovating different kind of devices which will help surgeons while problems for example- Biotronik Launched Acticor DX and CRT-DX Devices in U.S. These factors are driving the growth of market. However, higher cost and instant availability of devices may hamper the market growth. These devices are unknown in many areas of the world. Low and middle income countries which is untapped market and growing countries can be the opportunities for the further growth of the market.
Cardiac monitoring is a technique for continuously monitor the heart rhythm and its activity. It helps physicians to discover cardiac arrhythmia, atrial fibrillation, atrial flutter and other heart disorders and aids in determine heart health and faster diagnosis. Cardiac monitoring and cardiac rhythm management devices are used worldwide to cure the respective disorder. The rise in population suffering from heart rhythm disorder is the primary reason for growth of the market also the lots of efforts of scientists to make technological advancement for cardiac monitoring and cardiac rhythm management devices are driving the market growth. Some of the limitation or restraints of this market are shortage of skilled professionals such as technicians and doctors with expertise in cardiac monitoring also the another one is uncertainty in reimbursement policies for cardiac monitoring device. In spite of that, increasing number of technological advancements to produce more innovative cardiac rhythm management devices may provide the numerous opportunities for the further growth of the market.
North America is expected to dominate the Global Cardiac Rhythm Management Devices Market
North America is expected to dominate the cardiac rhythm management devices market owing to the increasing cases of heart diseases in this region. For example; around 647,000 Americans, die from heart disease each year. Heart disease treatments cost the United States about USD 219 billion and higher rate of currency with higher rate of medical expenses North America is dominating the market. After North America, Europe is the market in which CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the Europe. Asia Pacific is a fastest growing region. Only Asia comprises more than 4.5 billion people which is 60% of the world population living in 49 different nations have the economic power, Asia pacific is the growing largest market for Cardiac Rhythm Management Devices followed by Europe
North America is expected to attribute for the largest share of global cardiac rhythm management device market due to the developed healthcare infrastructure, government initiatives and rising incidence of arrhythmias demanding more cardiac implants. As per U.S. Department of Health & Human Services; An estimated 2.7–6.1 million people in the United States have atrial fibrillation. With the aging of the U.S. population, this number is expected to increase. Approximately 2% of people younger than age 65 have atrial fibrillation, while about 9% of people aged 65 years or older have AFib. Also, it is highlighted that a large part of the American population suffers from atrial fibrillation. Asia-Pacific is another region with high potential for this market, due to the rising healthcare expenditure by the government, the increasing the prevalence of cardiac disorders and the growing per capita income of the population in the South Asian countries.
Key Benefits Market Reports –
By Regional & Country Analysis:
Interested in this report?
Cardiac Rhythm Management Devices Market Size, By Type( Pacemaker, ICD, BI-V ), Applications ( Bradycardia, Tachycardia, Heart Failure ) Forecast 2020 to 2026