Cardiac Rhythm Management Devices - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Cardiac Rhythm Management Devices Market is accounted for $20.32 billion in 2018 and is expected to reach $42.78 billion by 2027 growing at a CAGR of 8.6% during the forecast period. Increasing awareness regarding cardiac disorders, rising demand for implantable cardioverter-defibrillator devices in developing economies and growing geriatric population base coupled with the rising prevalence of obesity are some of the factors fuelling the market growth. However, High cost of devices and Complications of CRT in children is restricting the market growth.
Cardiac rhythm management is a treatment of arrhythmias (heart rhythm disorders) or atrial fibrillation (AF). Arrhythmia causes palpitations and dizzy spells to sudden cardiac arrest. Cardiac rhythm management devices include pacemakers, cardiac resynchronization therapy devices, and implantable cardiac defibrillators.
Based on the product, the cardiac resynchronization therapy (CRT) segment is anticipated to register lucrative growth over the forecast period. The growth of CRT devices is majorly due to the rising prevalence of heart failure witnessed across the globe. Moreover, Growing number of geriatric population across the globe along with the rising incidence of atrial fibrillation, arrhythmias, congenital heart diseases are some other factors that have augmented the need and demand for resynchronization therapy devices products.
By Geography, North America is expected to have a significant market growth during the forecast period, owing to increasing incidence rate of cardiovascular diseases across various countries in the region, increasing elderly population, ready acceptance of technological advanced products (long battery life, biocompatible materials or miniaturization, & leadless) and increasing regulatory approvals.
Some of the key players profiled in the Cardiac Rhythm Management Devices market include Abiomed, Inc., Defibtech, LLC., Boston Scientific Corporation, SCHILLER AG, Stryker, Koninklijke Philips N.V., Medtronic plc, General Electric (GE) Company, LivaNova PLC, Cardiac Science Corporation, Hill-Rom Holdings, Inc., Biotronik SE & Co. KG, Berlin Heart GmbH, Abbott Laboratories, St. Jude Medical, and Altera.
• Cardiac Resynchronization Therapy (CRT)
• Other Products
• Heart Failure
• Other Applications
End Users Covered:
• Hospitals & Clinics
• Home Care Settings
• Ambulatory Surgery Centers
• Cardiac Centers
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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