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Global Cardiac Rhythm Management Devices Market Size study, by Product (Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)), and Regional Forecasts 2022-2032
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Global Cardiac Rhythm Management Devices Market is valued approximately at USD 18.57 billion in 2023 and is anticipated to grow with a growth rate of more than 6.9% over the forecast period 2024-2032. Cardiac rhythm management (CRM) devices are advanced medical tools designed for monitoring and regulating the electrical activity of the heart. They are employed in patients grappling with heart rhythm irregularities such as arrhythmias, bradycardia, and tachycardia. The range of CRM devices encompasses implanted cardioverter defibrillators (ICDs), pivotal in addressing life-threatening arrhythmias; pacemakers, which uphold a regular heart rate through electrical impulses; and cardiac resynchronization therapy (CRT) devices, aiding heart failure patients in enhancing cardiac performance. These sophisticated devices play a crucial role in enhancing patients' quality of life and effectively managing cardiac conditions. The increasing adoption of remote monitoring and telemedicine solutions is a key trend supporting the growth of the Global Cardiac Rhythm Management Devices Market. The trend is spurred by technological advances enabling remote, real-time monitoring of cardiac device data such as pacemakers and ICDs. This capability allows healthcare providers to efficiently track patients' cardiac health, detect issues early and intervene promptly, resulting in better outcomes and lower healthcare expenses.
The growth of the Global Cardiac Rhythm Management Devices Market is anticipated to surge significantly due to rising development in healthcare infrastructure, supportive government initiatives, favorable reimbursement policies and regulations promoting the use of advanced medical devices in cardiac care are stimulating market growth globally. Also, Cardiovascular diseases are increasingly becoming prevalent globally due to lifestyle changes, obesity, and other risk factors, fueling the need for cardiac rhythm management devices. According to the World Health Organization (WHO) data updated in June 2021, nearly 33.5 million people globally are suffering from atrial fibrillation (AFib), which is the most common type of serious arrhythmia. Moreover, the British Heart Foundation's Report titled 'UK Factsheet' published in July 2021, reports that 7.6 million people in the United Kingdom live with heart and circulatory diseases. Further, according to the 2022 American Heart Association (AHA) report, approximately, 244.1 million people were living with ischemic heart disease (IHD) around the world, and North Africa and the Middle East, Central and South Asia, and Eastern Europe had the highest prevalence rates of IHD in the world in 2020. Also, there is growing awareness regarding cardiac rhythm management devices is supporting the market expansion during the estimated period of 2024-2032. However, stringent regulatory approvals and side effects of therapeutic radiation on implantable cardiac rhythm devices is expected to hinder the global Cardiac Rhythm Management Devices market growth between 2022 and 2032.
The key regions considered for the global Cardiac Rhythm Management Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America is recorded with dominating position in the Cardiac Rhythm Management Devices Market with the highest number of market share and is projected to sustain its leading position throughout the forecast period. Key factors such as the presence of well-established healthcare infrastructure, government support, and the increasing prevalence of cardiovascular diseases necessitating greater use of cardiac implants. Factors such as elevated rates of obesity, smoking, and unhealthy lifestyles contribute to a higher risk of heart-related ailments like heart attacks, further boosting the demand for cardiac rhythm management devices in the region. Additionally, the rigorous enforcement of government regulations regarding the installation of external defibrillators in public areas is expected to drive higher adoption rates of these devices leading to a subsequent market boost for external defibrillators, which is contributing to the regional market growth. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period owing to the
Major market player included in this report are:
- Physio-Control, Inc.
- BIOTRONIK SE & Co. KG
- Schiller AG
- Medtronic PLC
- Abbott Laboratories
- Koninklijke Philips N.V.
- Zoll Medical Corporation
- Boston Scientific Corporation
- Progetti Srl
- LivaNova Plc
The detailed segments and sub-segment of the market are explained below:
By Product
- Pacemakers
- Defibrillators
- Cardiac Resynchronization Therapy (CRT))
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Cardiac Rhythm Management Devices Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
Chapter 2. Executive Summary
- 2.1. Global Cardiac Rhythm Management Devices Market Size & Forecast (2022- 2032)
- 2.2. Regional Summary
- 2.3. Segmental Summary
- 2.4. Key Trends
- 2.5. Recession Impact
- 2.6. Analyst Recommendation & Conclusion
Chapter 3. Global Cardiac Rhythm Management Devices Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
Chapter 4. Global Cardiac Rhythm Management Devices Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Cardiac Rhythm Management Devices Market Size & Forecasts by Product 2022-2032
- 5.1. Pacemakers
- 5.2. Defibrillators
- 5.3. Cardiac Resynchronization Therapy (CRT))
Chapter 6. Global Cardiac Rhythm Management Devices Market Size & Forecasts by Region 2022-2032
- 6.1. North America Cardiac Rhythm Management Devices Market
- 6.1.1. U.S. Cardiac Rhythm Management Devices Market
- 6.1.1.1. Product breakdown size & forecasts, 2022-2032
- 6.1.2. Canada Cardiac Rhythm Management Devices Market
- 6.2. Europe Cardiac Rhythm Management Devices Market
- 6.2.1. U.K. Cardiac Rhythm Management Devices Market
- 6.2.2. Germany Cardiac Rhythm Management Devices Market
- 6.2.3. France Cardiac Rhythm Management Devices Market
- 6.2.4. Spain Cardiac Rhythm Management Devices Market
- 6.2.5. Italy Cardiac Rhythm Management Devices Market
- 6.2.6. Rest of Europe Cardiac Rhythm Management Devices Market
- 6.3. Asia-Pacific Cardiac Rhythm Management Devices Market
- 6.3.1. China Cardiac Rhythm Management Devices Market
- 6.3.2. India Cardiac Rhythm Management Devices Market
- 6.3.3. Japan Cardiac Rhythm Management Devices Market
- 6.3.4. Australia Cardiac Rhythm Management Devices Market
- 6.3.5. South Korea Cardiac Rhythm Management Devices Market
- 6.3.6. Rest of Asia Pacific Cardiac Rhythm Management Devices Market
- 6.4. Latin America Cardiac Rhythm Management Devices Market
- 6.4.1. Brazil Cardiac Rhythm Management Devices Market
- 6.4.2. Mexico Cardiac Rhythm Management Devices Market
- 6.4.3. Rest of Latin America Cardiac Rhythm Management Devices Market
- 6.5. Middle East & Africa Cardiac Rhythm Management Devices Market
- 6.5.1. Saudi Arabia Cardiac Rhythm Management Devices Market
- 6.5.2. South Africa Cardiac Rhythm Management Devices Market
- 6.5.3. Rest of Middle East & Africa Cardiac Rhythm Management Devices Market
Chapter 7. Competitive Intelligence
- 7.1. Key Company SWOT Analysis
- 7.2. Top Market Strategies
- 7.3. Company Profiles
- 7.3.1. Physio-Control, Inc.
- 7.3.1.1. Key Information
- 7.3.1.2. Overview
- 7.3.1.3. Financial (Subject to Data Availability)
- 7.3.1.4. Product Summary
- 7.3.1.5. Market Strategies
- 7.3.2. BIOTRONIK SE & Co. KG
- 7.3.3. Schiller AG
- 7.3.4. Medtronic PLC
- 7.3.5. Abbott Laboratories
- 7.3.6. Koninklijke Philips N.V.
- 7.3.7. Zoll Medical Corporation
- 7.3.8. Boston Scientific Corporation
- 7.3.9. Progetti Srl
- 7.3.10. LivaNova Plc
Chapter 8. Research Process
- 8.1. Research Process
- 8.1.1. Data Mining
- 8.1.2. Analysis
- 8.1.3. Market Estimation
- 8.1.4. Validation
- 8.1.5. Publishing
- 8.2. Research Attributes
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