The global cardiac rhythm management devices market size is expected to touch USD 35.22 billion by 2026 growing at a CAGR of 7.5% from 2019 to 2026, Cardiac rhythm management devices have witnessed evolution of pacemakers, cardiac resynchronization therapy, implantable cardioveter defibrillators and loop recorders over the last decade. The growth drivers for the market include favorable legislative policies followed by Government in developed and developing countries. Additional market drivers include rising incidence of cardiovascular diseases (CVD’s), cohesive reimbursement climate and technological advancements that boost market growth
CRM devices are the universal solution for patients suffering from
arrhythmias. Latest findings in Cardiac Resynchronization therapy devices are
anticipated to drive this market. Furthermore, implantable
cardioverter-defibrillators have opened up more vistas of operations since
their integration with pacemakers. This increases the product life for
pacemakers. Cardioverter- defibrillators having found immense applications are
certain to expand market growth.
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Sudden Cardiac Arrest (SCA) is also debilitating human population
that explains high growth of external defibrillators. Government initiatives
are working in the direction of making economies more cardio-friendly. This
works positively for external debrifillators to experience surging market growth.
As per Government data available More than 6.0 million people have
fallen prey to cardiac disorders. Of these, 0.8 million are victims of
atrioventricular blockage that ends in cardiac failure. This proves an outgo of
USD 20-60 billion annually. Hence to prevent this, CRM devices are being put to
effective use to prevent surgical costs from inflating and also prevents
readmission charges, thus impacting market growth.
North America took credit of nearly 35% overall market for CRM
Devices in 2016. This was particularly due to supportive legislative policies,
lenient reimbursement schemes and increase in cardiovascular diseases. Asia
Pacific was seen as fast growing market for CRM devices with a CAGR of 9%. This
was largely made possible due to accessibility of CRM devices.
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The key players operating in Cardiac Rhythm Management Devices
Implantation include St, Jude Medical, BIOTRONIK, Inc., Medtronic and Boston
Scientific Corporation and ZOLL Medical Corporation among others.
