Cardiac
Rhythm Management (CRM) devices include pacemakers (PMs), implantable
cardioverter-defibrillators (ICDs), and cardiac resynchronization
therapy (CRT) devices. These devices perform various functions,
including bradycardia pacing, cardiac resynchronization for heart
failure, monitoring for arrhythmias, defibrillation, and
anti-tachycardia pacing for tachyarrhythmia. Products such as cardiac
resynchronization therapy can improve congestive heart failure
symptoms by improving the timing of the heart’s contractions,
resulting in pumping more blood to the body.
The
global cardiac rhythm management devices market size was valued at
US$ 19.05 billion in 2017, and is expected to witness a CAGR of 7.5%
over the forecast period (2018 – 2026).
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Rising
incidences of cardiac disorders worldwide is expected to drive the
cardiac rhythm management devices market revenue
Rise
in incidence of cardiovascular diseases such as cardiac arrhythmia,
ischemic heart disease, and hypertension is expected to fuel growth
of the cardiac rhythm management devices market. According to WHO
report, in 2015, cardiovascular diseases was the leading cause of
deaths accounting for 17.7 million deaths, worldwide.
Furthermore,
technological advancements in cardiac rhythm management devices is
the major growth rendering factor for the industry. For instance,
adoption of advanced technologies in cardiac pacemakers such as
pacemakers with improved battery life and MRI safe-pacemakers, delay
the progression of persistent atrial fibrillation (AF) in patients
suffering from bradycardia. These advancements are gaining
significant traction and are expected to fuel the demand for cardiac
rhythm management devices. For instance, in February 2017, Abbott
received the Food and Drug Administration (FDA) approval for its
MR-conditional labeling for Assurity MRI pacemaker and the Tendril
MRI pacing lead.
Cardiac
Rhythm Management Devices Market - Regional Insights
On
the basis of region, the global cardiac rhythm management devices
market is segmented into North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa. North America is expected to hold a
dominant position in global cardiac rhythm management devices market
during the forecast period, due to increasing prevalence of
cardiovascular diseases in the region. According to the American
Heart Association (AHA), 2017, around 92.1 million adults in the U.S.
are suffering from some form of cardiovascular disease or the
after-effects of stroke. AHA report also stated that direct and
indirect costs of cardiovascular diseases and stroke are estimated to
account for US$ 316 billion, including health expenditures and lost
productivity.
Cardiac
Rhythm Management Devices Market - Competitive Landscape
Key
players operating in the global cardiac rhythm management devices
market include Medtronic plc. Abbott Laboratories, Abiomed, Boston
Scientific Corporation, Biotronik Se Co Kg, Koninklijke Philips N.V.,
LivaNova Plc, Cardiac Science Corporation, Schiller Ag, and Zoll
Medical Corporation.
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Detailed
Segmentation:
Global
Cardiac Rhythm Management Devices Market, By Product Type:
Cardiac
Resynchronization Therapy Devices
-
Cardiac Resynchronization Therapy Defibrillators (CRT-D)
-
Cardiac Resynchronization Therapy Pacemakers (CRT-P)
Defibrillator
-
Implantable Cardioverter Defibrillators (ICDS)
-
External Defibrillators
Pacemakers
-
Single Chamber Pacemakers
-
Dual Chamber Pacemakers
-
Biventricular Pacemakers
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