Cardiac Rhythm Management Devices Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Product and Geography.

Market Snapshot

Cardiac Rhythm Management Devices Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The cardiac rhythm management devices market is expected to witness a CAGR of 4.8% during the forecast period. Certain factors that are driving the market growth include the increasing prevalence of cardiovascular disorders, technological advancements, a rise in the use of ambulatory and home services for cardiac monitoring, and favorable reimbursement policies.

The increasing instance of cardiovascular disorders is one of the foremost factors driving the cardiac rhythm management devices market. According to the World Health Organization (WHO), globally, cardiovascular diseases account for more than 30% of deaths. Also, nearly 33.5 million people, globally, are suffering from atrial fibrillation (AFib), which is the most common type of serious arrhythmia. With the rise in the aging population in America and Europe, a number of patients suffering from heart rhythm disorders are likely to witness an increase and this is a cause for concern.

However, the therapeutic radiation used in cancer treatment can influence the operation of a patient with implantable cardiac rhythm devices. The implantable device technology 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. On the other hand, the high cost of these devices with limited insurance coverage is limiting the growth of the market.

Scope of the Report

Cardiac rhythm management is a part of electrophysiology, which is used to manage the functioning of the heart. The last decade has observed an ongoing evolution and the use of cardiac rhythm management devices, including cardiac resynchronization therapy, pacemakers, implantable cardioverter defibrillators, and loop recorders. General practitioners (GP) are increasingly involved in the follow-up and management of patients with these devices.

Product
Defibrillators
Implantable Cardioverter Defibrillators (ICDS)
Subcutaneous ICD (S-ICD)
Transvenous ICD (T-ICD)
External Defibrillators (ED)
Manual External Defibrillators (MEDS)
Automated External Defibrillators (AEDS)
Pacemakers
Implantable Pacemakers (ICPS)
External Pacemakers
Cardiac Resynchronization Therapy Devices
Cardiac Resynchronization Therapy Defibrillators (CRT-D)
Cardiac Resynchronization Therapy Pacemakers (CRT-P)
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Defibrillator is Expected to Hold the Largest Market Share in the Product Type

As per the American Heart Association (AHA), survival from cardiac arrest got doubled when bystanders used a publicly-available automated external defibrillator (AED) rather than just wait until emergency responders arrived. Bystanders used an AED in 18.8% of such cases. Cardiac arrest victims who received a shock from a publicly-available AED had far more chances of survival and being discharged from the hospital than those who did not, accounting for 66.5% versus 43%. Therefore, it has been estimated that about 1,700 lives are saved in the United States every year by bystanders using a defibrillator. This indicates that the usage of defibrillators has experienced a significant rise, globally, over the recent years.

Cardiac Rhythm Management Devices Market

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North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to have the largest market share for cardiac rhythm management, due to the developed healthcare infrastructure, government initiatives, and rising incidence of arrhythmias demanding more cardiac implants. According to a report by the US CDC, more than 75,000 hospitalizations are attributed to atrial fibrillation. Also, it is highlighted that a large part of the American population suffers from atrial fibrillation. Therefore, it is expected to rise further in the forecast period.

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.

Cardiac Rhythm Management Devices Market

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Competitive Landscape

The cardiac rhythm management devices market is highly competitive and consists of a few major players. Companies like Abbott, Abiomed, Biotronik SE & Co KG, Boston Scientific Corporation, Koninklijke Philips NV, LivaNova Plc, Medtronic PPLC, SchillerAG, Shenzhen Mindray Biomedical Electronics Co. Ltd, and Zoll Medical Corporation, among others, hold the substantial market share in the cardiac rhythm management devices market.

Major Players

  1. Abbott
  2. Biotronik SE & Co KG
  3. Boston Scientific Corporation
  4. Koninklijke Philips NV
  5. Medtronic PLC

* Complete list of players covered available in the table of contents below

Cardiac Rhythm Management Devices Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence of Cardiovascular Disorders

      2. 4.2.2 Technological Advancements

      3. 4.2.3 Rise in the Use of Ambulatory and Home Servies for Cardiac Monitoring

      4. 4.2.4 Favorable Reimbursement Policies

    3. 4.3 Market Restraints

      1. 4.3.1 Effects of Therapeutic Radiation on Implantable Cardiac Rhythm Devices

      2. 4.3.2 High Cost of Devices

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Defibrillators

        1. 5.1.1.1 Implantable Cardioverter Defibrillators (ICDS)

          1. 5.1.1.1.1 Subcutaneous ICD (S-ICD)

          2. 5.1.1.1.2 Transvenous ICD (T-ICD)

        2. 5.1.1.2 External Defibrillators (ED)

          1. 5.1.1.2.1 Manual External Defibrillators (MEDS)

          2. 5.1.1.2.2 Automated External Defibrillators (AEDS)

      2. 5.1.2 Pacemakers

        1. 5.1.2.1 Implantable Pacemakers (ICPS)

        2. 5.1.2.2 External Pacemakers

      3. 5.1.3 Cardiac Resynchronization Therapy Devices

        1. 5.1.3.1 Cardiac Resynchronization Therapy Defibrillators (CRT-D)

        2. 5.1.3.2 Cardiac Resynchronization Therapy Pacemakers (CRT-P)

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 US

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 UK

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle East & Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle East & Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott

      2. 6.1.2 Abiomed

      3. 6.1.3 Biotronik SE & Co KG

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Koninklijke Philips NV

      6. 6.1.6 LivaNova Plc

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 SchillerAG

      9. 6.1.9 Shenzhen Mindray Biomedical Electronics Co., Ltd

      10. 6.1.10 Zoll Medical Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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