Cardiac Rhythm Management Devices Market Size, Share & Trend Report

Cardiac Rhythm Management Devices Market Size, Share & Trend Analysis Report By Product (Pacemaker, Defibrillators, & CRT Devices) And Segment Forecasts, 2019 - 2026

  • Published Date: Nov, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-315-7
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2018
  • Number of Pages: 107

Industry Insights

The global cardiac rhythm management devices market size was valued at USD 18.9 billion in 2018 and is expected to grow at a CAGR of 7.1% during the forecast period. The market is majorly driven by the adoption of the cardiac rhythm management (CRM) devices for the treatment of cardiac disorders such as ischemic heart disease, stroke, heart attack, and others.  One in every three U.S. adults does not meet the current guidelines for physical activity. However, improvements in dietary patterns have been observed in both adults and children, which is expected to lower the risk of CVDs.

Physical inactivity is a major public concern as it has caused the second highest number of deaths after tobacco in the U.S. Physical inactivity leads to morbidity and development of chronic conditions such as various cardiac disorders and diabetes. As per WHO, physical inactivity or sedentary lifestyle results in around 2 million deaths per year. In addition, it has been estimated that around 60% to 85% of the population in both developed and developing countries leads sedentary lifestyle. This is anticipated to increase the demand for market over the forecast period.

North America cardiac rhythm management (CRM) devices market

Favorable reimbursement policies have led to higher adoption of medical devices by patients in countries such as Canada, U.S., and the UK, thereby increasing market penetration of these devices. Moreover, some of the developing countries of Asia Pacific have supportive reimbursements. For instance, the National Health Insurance system in Japan, provides reimbursement for all possible medical devices. However, few nations in Asia Pacific region have limited or no opportunity for reimbursement and patients incur the expenses, while the unprivileged ones often forgo treatment, which is likely to restrain the growth of the market in certain countries.

Product Insights

The defibrillators held the largest cardiac rhythm management devices market share of over 30.0% in 2018. The dominance is a resultant of rising adoption especially the Subcutaneous Implantable Defibrillator (S-ICD) and Transvenous Implantable Cardioverter Defibrillator (T-ICD) in major countries such as the U.S., European countries, China, and India.

Moreover, the cardiac resynchronization therapy (CRT) segment is anticipated to register lucrative growth over the forecast period. Associate benefits such as reduced blood transfusion, risk of infections and hospital stay are key drivers for this market. Healthcare practitioners are increasingly recommending minimally invasive surgeries for CRT-Pacemaker implantation to curb bradycardia and cardiac arrest instances. The preference for minimally invasive techniques for CRT-P implantation is expected to boost sales of CRT devices during the forecast period.

Global cardiac rhythm management (CRM) devices market

The implantable pacemakers have become a well-established treatment for sinus node dysfunction and conduction disorders. Increasing application of these devices for the treatment of arrhythmias and heart failure as well as in ongoing clinical investigations is a major factor leading to market growth.

Regional Insights

North America commanded the major market share of CRM devices due to key drivers such as, increasing elderly population, ready acceptance of technological advanced products (long battery life, biocompatible materials or miniaturization, & leadless), and increasing regulatory approvals. Industry participants are currently working on developing new devices based on existing pacemakers and Implantable Cardioverter Defibrillator (ICD) technologies.

The Asia Pacific CRM devices market is expected to grow at a lucrative rate during the forecast period. The market is determined by high R&D investments by international players such as Organizations such as China Cardiovascular Association and American College of Cardiology are working together to develop ground-breaking technologies for cardiac care. Moreover, increasing efforts to create awareness, such as Japan’s smoke-free policy implemented for the 2020 Olympic Games, are expected to propel market growth.

Cardiac Rhythm Management Devices Market Share Insights

The industry is marked by the presence of various large and small businesses. It is dominated by participants such as Medtronic, Abbott, Boston Scientific Corporation, Koninklijke Philips N.V., and others. Key players are focusing on executing innovative strategies such as mergers and acquisitions, market penetration, partnerships and distribution agreements to increase their market foothold. For instance, In January 2019, Medtronic acquired EPIX Therapeutics. This merger was aimed at expanding the company’s cardiac ablation portfolio to treat patients with cardiac arrhythmias.

The players operating in the cardiac rhythm management devices market are introducing new technologies in order to enhance the product performance and augment the product portfolio. For instance, in January 2019, Schiller introduced Epicardio Simulation, offering a new way to interact with a virtual heart. The product launch was aimed at enhancing the company’s product portfolio.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2018

Forecast period

2019 - 2026

Market representation

Revenue in USD Million & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, UK, Germany, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global cardiac rhythm management devices market report on the basis of product, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2026)

    • Pacemakers

      • Implantable

      • External

    • Defibrillators

      • Implantable Cardioverter Defibrillators (ICD)

        • S-ICD

        • T-ICD

      • External Defibrillator

        • Manual External Defibrillator

        • Automatic External Defibrillator

        • Wearable Cardioverter Defibrillator

    • Cardiac Resynchronization Therapy (CRT)

      • CRT-Defibrillator

      • CRT-Pacemakers

  • Regional Outlook (Revenue, USD Million; 2014 - 2026)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

Key questions answered by the report
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