The global cardiac rhythm management devices market size is anticipated to reach USD 32.7 billion by 2026, is expected to grow at a CAGR of 7.1% during the forecast period as per the new report by Grand View Research, Inc. The cardiac rhythm management (CRM) devices market has shown a constant growth in the adoption of CRM devices owing to the increasing prevalence of cardiovascular disorders. Stroke and ischemic heart disease account for more than 80% of all deaths related to CVD worldwide. According to CDC in 2017, CVDs are responsible for about 800,000 lives lost in the U.S.
Favorable reimbursement policies, by the U.S. Medicare system, for biventricular pacemakers, single chamber, and dual chamber is further anticipated to increase adoption of these devices in future. Revolutionary technological progresses are rapidly transforming the cardiac rhythm management market. Major CRM devices market players operational are Physio-Control, Inc. (Stryker), Medtronic, St. Jude Medical, Boston Scientific Corporation etc. which account for a significant share of the market owing to their extensive product offerings. Industry players are further focusing on increasing their foothold by collaborations and acquisitions. For ex. in March 2019, Zoll acquired Golden Hour Data Systems to optimize its operations with complete suite of business solutions.
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Further Key Findings From the Study Suggest:
Defibrillators held the dominant share due to high acceptance of these products in countries such as the U.S., China, and India. The ICD segment was the largest sub segment in 2018, accounting for over 70.00% of the market share, owing to its better patient outcome.
Within external defibrillator segment, manual external defibrillator held the highest share in 2018 as manual defibrillators have capabilities that AEDs do not possess, including pacing, i.e., delivering pulses of the current to stimulate heart contraction as well as cardioversion, converting arrhythmia or tachycardia to a normal heartbeat.
Physio-Control, Inc. (Stryker), Medtronic, St. Jude Medical, Boston Scientific Corporation are some of the major CRM devices market participants due to their product offerings and regional presence
Companies are adopting different strategies to gain competitive advantage. New product development, partnerships, mergers & acquisitions, strategic collaborations, and regional penetration are some of them.
Grand View Research has segmented CRM devices market on the basis of the product, and region.
CRM Devices Product Outlook (Revenue, USD Million, 2014 - 2026)
Implantable Cardioverter Defibrillators (ICD)
Manual External Defibrillator
Automatic External Defibrillator
Wearable Cardioverter Defibrillator
Cardiac Resynchronization Therapy (CRT)
CRM Devices Regional Outlook (Revenue, USD Million; 2014 - 2026)
Middle East & Africa
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