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Global Cardiac Rhythm Management Devices Market Report and Forecast 2023-2031
Market Report I 2023-04-20 I 140 Pages I EMR Inc.
Global Cardiac Rhythm Management Devices Market Report and Forecast 2023-2031
Global Cardiac Rhythm Management Devices Market Outlook
The global cardiac rhythm management devices market size reached a value of about USD 16.55 billion in 2022. The market is further expected to grow at a CAGR of about 5.03% during the forecast period of 2023-2031 to reach a value of around USD 25.74 billion by 2031, driven by the rapid technological advancements.
Cardiac Rhythm Management Devices Market: Introduction
Cardiac rhythm management (CRM) devices are medical devices used to diagnose and treat abnormal heart rhythms, or arrhythmias. These devices include pacemakers, implantable cardioverter-defibrillators (ICDs), and cardiac resynchronization therapy (CRT) devices. CRM devices are designed to monitor the heart's electrical activity, deliver electrical impulses to regulate the heart rate, and provide therapy to prevent sudden cardiac arrest.
Pacemakers are used to treat bradycardia, a condition where the heart beats too slowly. The device monitors the heart's electrical activity and delivers electrical impulses to the heart muscle to help it beat regularly and at a consistent rate.
ICDs are used to treat life-threatening arrhythmias, such as ventricular fibrillation and ventricular tachycardia, which can lead to sudden cardiac arrest. The device monitors the heart's electrical activity and delivers a shock to the heart to restore a normal rhythm if an abnormal rhythm is detected.
CRT devices are used to treat heart failure and are designed to improve the heart's pumping efficiency. The device synchronizes the contractions of the heart's ventricles by sending electrical impulses to the heart muscle.
Overall, CRM devices play a crucial role in the diagnosis and treatment of heart rhythm disorders, improving the quality of life for patients and reducing the risk of life-threatening complications. These devices have advanced significantly over the years, with improved technology and features, such as remote monitoring and wireless connectivity, making them more effective and convenient for patients.
Cardiac Rhythm Management Devices Market Segmentations
Market Breakup by Product Type
- Pacemakers
o Implantable
o External
- Defibrillators
o Implantable Cardioverter Defibrillators (ICD)
- S-ICD
- T-ICD
- External Defibrillator
o Manual External Defibrillator
o Automatic External Defibrillator
o Wearable Cardioverter Defibrillator
- Cardiac Resynchronization Therapy (CRT)
o CRT-Defibrillator
o CRT-Pacemakers
- Others
Market Breakup by Applications
- Bradycardia
- Tachycardia
- Heart Failure
- Others
Market Breakup by End User
- Hospital
- Home Care Settings
- Ambulatory Care Settings
- Others
Cardiac Rhythm Management Devices Market Breakup by Region
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Cardiac Rhythm Management Devices Market Scenario
The cardiac rhythm management (CRM) devices market is a growing segment of the medical device industry. The increasing prevalence of heart rhythm disorders, such as atrial fibrillation and heart failure, has contributed to the growth of the market. Additionally, the rise in the geriatric population and the adoption of unhealthy lifestyles have further increased the demand for CRM devices.
Advancements in CRM device technology have led to the development of smaller, more reliable, and more advanced devices that offer longer battery life and more sophisticated programming options. The integration of wireless connectivity and remote monitoring capabilities in CRM devices has also improved patient outcomes by enabling physicians to monitor patients' heart rhythm remotely and adjust the device settings accordingly.
The market is witnessing partnerships and collaborations among companies to expand their product offerings and reach a wider customer base. The CRM devices market is highly competitive, with several players offering a range of products and services. The market is also seeing an increasing trend of customization, with CRM devices being designed to meet the unique needs of individual patients.
Moreover, the COVID-19 pandemic has accelerated the adoption of telehealth services, including remote cardiac monitoring and CRM device monitoring. This has led to an increase in the use of remote monitoring devices and telehealth services, which enable remote monitoring and consultation with healthcare professionals.
Overall, the CRM devices market is expected to continue growing in the coming years, driven by technological advancements, rising demand for remote monitoring, and increasing partnerships among players in the market. The market is poised for growth as healthcare providers and patients continue to recognize the benefits of CRM therapy for managing heart rhythm disorders.
Key Players in the Global Cardiac Rhythm Management Devices Market
The report gives an in-depth analysis of the key players involved in the cardiac rhythm management devices market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
- Physio-Control, Inc.
- Schiller Americas, Inc.
- Medtronic
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- GE Healthcare
- Asahi Kasei Corporation
- MicroPort Scientific Corporation
- NIHON KOHDEN CORPORATION
- BPL Medical Technologies
- Lepu Medical Technology
- Pacetronix
- Osypka Medical
- AliveCor, Inc.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Cardiac Rhythm Management Devices Market Overview
3.1 Global Cardiac Rhythm Management Devices Market Historical Value (2016-2022)
3.2 Global Cardiac Rhythm Management Devices Market Forecast Value (2023-2031)
4 Global Cardiac Rhythm Management Devices Market Landscape
4.1 Global Cardiac Rhythm Management Devices Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Cardiac Rhythm Management Devices Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Technology
4.2.3 Analysis by Applications
4.2.4 Analysis by End User
5 Global Cardiac Rhythm Management Devices Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter's Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Cardiac Rhythm Management Devices Market Segmentation
6.1 Global Cardiac Rhythm Management Devices Market by Product Type
6.1.1 Market Overview
6.1.2 Pacemakers
6.1.2.1 Implantable
6.1.2.2 External
6.1.3 Defibrillators
6.1.3.1 Implantable Cardioverter Defibrillators (ICD)
6.1.3.1.1 S-ICD
6.1.3.1.2 T-ICD
6.1.4 External Defibrillator
6.1.4.1 Manual External Defibrillator
6.1.4.2 Automatic External Defibrillator
6.1.4.3 Wearable Cardioverter Defibrillator
6.1.5 Cardiac Resynchronization Therapy (CRT)
6.1.5.1 CRT-Defibrillator
6.1.5.2 CRT-Pacemakers
6.1.6 Others
6.2 Global Cardiac Rhythm Management Devices Market by Applications
6.2.1 Market Overview
6.2.2 Bradycardia
6.2.3 Tachycardia
6.2.4 Heart Failure
6.2.5 Others
6.3 Global Cardiac Rhythm Management Devices Market by End User
6.3.1 Market Overview
6.3.2 Hospital
6.3.3 Home Care Settings
6.3.4 Ambulatory Care Settings
6.3.5 Others
6.4 Global Cardiac Rhythm Management Devices Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Cardiac Rhythm Management Devices Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Cardiac Rhythm Management Devices Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Cardiac Rhythm Management Devices Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Cardiac Rhythm Management Devices Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Cardiac Rhythm Management Devices Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Physio-Control, Inc.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Schiller Americas, Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Medtronic
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Abbott
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Boston Scientific Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 BIOTRONIK SE & Co. KG
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 GE Healthcare
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Asahi Kasei Corporation
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 MicroPort Scientific Corporation
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 NIHON KOHDEN CORPORATION
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 BPL Medical Technologies
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Lepu Medical Technology
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Pacetronix
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Osypka Medical
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 AliveCor, Inc.
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
18 Global Cardiac Rhythm Management Devices Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
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