Cardiac Rhythm Management Devices Market is valued around USD 19.48 Billion in 2019 and expected to reach USD 23.90 Million by 2026 with the CAGR of 2.96% over the forecast period.
Key Players –
The key players operating in Cardiac Rhythm Management Devices Market include Medtronic, Abbott Laboratories, BIOTRONIK, Inc. Boston Scientific Corporation, St. Jude Medical, ZOLL Medical Corporation, Koninklinjke Philips. N.V., LivaNova and Schriller AG and others.
Cardiac rhythm management devices include pacemaker, cardiac resynchronization therapy, implantable cardioverter defibrillators and loop recorders heart failure. These devices perform various type of functions such as; bradycardia pacing for tachyarrhythmia. Nowadays there is an increase in the number of heart and cardiac disorders due to the sedentary lifestyle among the population and increase the demand for cardiac rhythm management devices.
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According to WHO report, in 2015 cardiovascular disease was the leading cause of the deaths accounted for 17.7 million deaths worldwide. Adding into the cardiac rhythm management device technology the one most important technology is implantable device that uses complementary metal oxide semiconductor (CMOS) which are vulnerable to damage by the therapeutic doses of radiation, but it can vary according to the type of device in use. This factor is one of the major factors that limits the scope of using cardiac rhythm management devices, as the implants are highly sensitive and their malfunctioning may have serious consequences.
Cardiac Rhythm Management Devices Market report is segmented on the basis of product, application, end-user and region & country level. Based upon product, global cardiac rhythm management devices market is segmented into pacemakers, defibrillators and cardiac resynchronization therapy (CRT). Based on application, the cardiac rhythm management devices market is segmented into bradycardia, tachycardia and heart failure. Based on end-user, the cardiac rhythm management devices market is segmented into hospitals, home settings and ambulatory surgical center.
The regions covered in this Global Cardiac Rhythm Management Devices Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of cardiac rhythm management devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
By Product: Pacemakers (Implantable Pacemakers, External Pacemakers), Cardiac Resynchronization Therapy (CRT) ( CRT-Defibrillators (CRT-D), CRT-Pacemakers (CRT-P)), Defibrillators, Implantable Cardioverter Defibrillators (ICDs) (Subcutaneous ICD (S-ICD), Trans venous ICD (T-ICD)), External Defibrillator (ED) (Manual ED, Wearable Cardioverter Defibrillator, Automated ED (AED))
By End-User: Home settings, Hospitals, Ambulatory Surgical Center
By Application: Bradycardia, Heart Failure, Tachycardi
Increasing Geriatric Population and Technological Advancements in the Field of Cardiac Rhythm Management Devices are the Key Factors Driving the Market Growth. :-
Cardiac monitoring is a technique for continuously monitor the heart rhythm and its activity. It helps physicians to discover cardiac arrhythmia, atrial fibrillation, atrial flutter and other heart disorders and aids in determine heart health and faster diagnosis. Cardiac monitoring and cardiac rhythm management devices are used worldwide to cure the respective disorder. The rise in population suffering from heart rhythm disorder is the primary reason for growth of the market also the lots of efforts of scientists to make technological advancement for cardiac monitoring and cardiac rhythm management devices are driving the market growth. Some of the limitation or restraints of this market are shortage of skilled professionals such as technicians and doctors with expertise in cardiac monitoring also the another one is uncertainty in reimbursement policies for cardiac monitoring device. In spite of that, increasing number of technological advancements to produce more innovative cardiac rhythm management devices may provide the numerous opportunities for the further growth of the market.
North America is Expected to Dominate the Global Cardiac Rhythm Management Device Market.:-
North America is expected to attribute for the largest share of global cardiac rhythm management device market due to the developed healthcare infrastructure, government initiatives and rising incidence of arrhythmias demanding more cardiac implants. As per U.S. Department of Health & Human Services; An estimated 2.7–6.1 million people in the United States have atrial fibrillation. With the aging of the U.S. population, this number is expected to increase. Approximately 2% of people younger than age 65 have atrial fibrillation, while about 9% of people aged 65 years or older have AFib. Also, it is highlighted that a large part of the American population suffers from atrial fibrillation. Asia-Pacific is another region with high potential for this market, due to the rising healthcare expenditure by the government, the increasing the prevalence of cardiac disorders and the growing per capita income of the population in the South Asian countries.
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