The Global Cardiac
Rhythm Management Devices Market, by Product Type (Cardiac Resynchronization
Therapy Devices, Defibrillator, and Pacemakers), by End User (Hospitals, Home
Care Settings, and Ambulatory Care Settings), and by Region (North America,
Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 19.05 billion in 2017, and is projected to
exhibit a CAGR of 7.5% over the forecast period (2018 - 2026),.
Cardiac Rhythm Management (CRM) devices
perform many functions, including monitoring for arrhythmias, bradycardia
pacing, cardiac resynchronisation for heart failure, defibrillation and
anti-tachycardia pacing for tachyarrhythmias. In the past few decades, use of
cardiac rhythm management devices has increased worldwide due to increase in
life expectancy and technological developments in products such as cardiac
resynchronization therapy (CRT). Increasing consumption of caffeine is the most
common factor linked with abnormal heart rhythms. Furthermore, excessive
consumption of red wine can lead to symptoms of arrhythmias. Substances such as
automobile emissions, cigarette smoke, pollution from industrial plants, paint
thinners, and propane gas can also result into problems related to cardiac
rhythms. However, high product price and infection risks associated with
product implantation are the major concerns for manufacturers, as these are
obstructing the product adoption. As per the study published by the National
Cardiovascular Data Registry 2014, implantable cardioverter defibrillator
infection rate has been reported to be around 1.7%. It is the third leading cause
of complications occur due to CRM devices.
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According to a study published in
Health Affairs, the average price for a dual-chamber pacemaker in Germany was
US$ 1,400 in 2014 and in the U.S. it was US$ 4,200. Moreover, risks associated
with product design is major concern for developers. In November 2018, Boston
Scientific issued a hazard alert in Australia regarding its SQ-RX Model 1010
Pulse Generator in some of the first-generation subcutaneous implantable
cardioverter defibrillator (S-ICD) systems. Future innovations in CRM products
is expected to shift from transvenous leads to leadless designs with
combinations of different components on a modular basis according to the
function required. Moreover, CRM devices with remote controlling such as
implantable cardioverter defibrillators and pacemakers can send information
from the device to a portable unit, which allows the healthcare professional to
monitor the patient condition at any time.
Browse 28 Market Data Tables and
24 Figures spread through 155 Pages and in-depth TOC on "Cardiac Rhythm
Management Devices Market, by Product Type (Cardiac Resynchronization Therapy
Devices, Defibrillator, and Pacemakers), by End User (Hospitals, Home Care Settings,
and Ambulatory Care Settings), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/cardiac-rhythm-management-devices-market-2364
Key Takeaways of the Cardiac
Rhythm Management Devices Market:
The global cardiac rhythm
management devices market is expected to expand at a CAGR of 7.5% during the
forecast period (2018–2026), owing to increasing number of arrhythmias patients
globally. According to the Center for Diseases Control and Prevention (CDC)
2017 data, an estimated 2.7 to 6.1 million people in the U.S. have heart
arrhythmias.
Among region, Asia Pacific is
expected to generate significant revenue in 2018, due to rising adoption of
cardiac rhythm management devices in the region. According to the Heart, Lung
and Circulation Journal 2015 study, around 20,000 cardiac rhythm management
devices are implanted across Australia annually, around three-quarters of which
are pacemakers.
Major 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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