North America Cardiac Rhythm Management Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

North America Cardiac Rhythm Management Devices Market Analysis

The North American cardiac rhythm management devices market is expected to witness a CAGR of 3.9% during the forecast period.

The COVID-19 pandemic significantly impacted market growth. The COVID-19 pandemic lockdown led to the suspension of non-urgent scheduled visits and hospitalizations, which resulted in the delayed diagnosis of patients with cardiac disorders. For instance, according to an article published in Heart Rhythm, in January 2022, about a 52.2% reduction in electrophysiology (EP) procedures, a 32.7% reduction in device procedures, and a 36.8% decrease in cardiac rhythm management (CRM) the referrals were observed during the pandemic period as compared to the pre-pandemic period in the United States. Moreover, an article published in PLOS One in August 2021 showed that the adjusted incident rate ratios for cardiovascular outcomes were considerably greater in the post-COVID-19 exposure period as compared to the pre-COVID-19. Thus, the long-term effects of COVID-19 on cardiovascular health raise the demand for cardiac management devices. Thus the market is anticipated to grow over the forecast period.

Factors such as the growing burden of cardiovascular diseases, technological advancements, and the rise in the use of ambulatory and home services for cardiac monitoring are expected to boost the market growth over the forecast period.

The increasing prevalence of cardiovascular diseases and technological advancements in the field of defibrillators are the major drivers for the market. For instance, as per the 2022 statistics published by AHA, more than 356,000 out-of-hospital cardiac arrests (OHCA) were reported in the United States annually, nearly 90% of them fatal. This leads to the high demand for cardiac rhythm management devices such as defibrillators as they are widely used in reviving patients from sudden cardiac arrest by providing sufficient oxygen and blood to the required organs via a sudden shock. This is anticipated to augment the market growth over the forecast period.

Additionally, the launch of various programs, awareness campaigns, and launch of automated external defibrillator management platforms to promote the importance of fully automated external defibrillators are also contributing to the market growth. For instance, in August 2022, Portage Health Foundation (PHF) announced a one-time automated external defibrillator (AED) grant program to address the foundation's long-term sustainability goal of building safer communities. Also, in August 2022, the Great Western Air Ambulance Charity team launched an automated external defibrillator (AED) usage campaign during CPR in the United States. Thus, the rising awareness programs for AED and increasing product launches by various government organizations are expected to contribute to the growth of the market.

Furthermore, the technological advancements in cardiac rhythm management devices, as well as the presence of key players in the region, are developing and launching products for helping patients with cardiovascular diseases, which is expected to augment the market growth over the forecast period. For instance, in December 2021, Boston Scientific began a clinical trial of its first modular cardiac rhythm implant system consisting of a leadless pacemaker and an implantable cardioverter defibrillator, two separate devices that work together to keep the heart from beating too fast or too slow. Also, in July 2021, Abbott launched Jot Dx, the latest insertable cardiac monitor (ICM). The technology allows for remote detection and improved diagnostic accuracy of cardiac arrhythmia in patients. Similarly, in July 2021, the United States Food and Drug Administration approved Medtronic's two AccuRhythm artificial intelligence (AI) algorithms for use with the LINQ II insertable cardiac monitor (ICM).

Therefore, owing to the factors such as the high burden of cardiovascular diseases, growing company activities, and rising technological advancements, the studied market is anticipated to grow over the forecast period. However, the high cost of devices and the effects of therapeutics radiation on implantable cardiac rhythm devices are likely to hinder the growth of the cardiac rhythm management devices market over the forecast period.

North America Cardiac Rhythm Management Devices Market Trends

Implantable Pacemaker Segment is Expected to Witness Significant Growth Over the Forecast Period

North America Cardiac Rhythm Management Devices Industry Segmentation

As per the 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. 

The North American Cardiac Rhythm Management Devices Market is Segmented by Product (Defibrillators, Pacemakers, and Cardiac Resynchronization Therapy Devices) and Geography (United States, Canada, and Mexico). The report offers the value (in USD million) for the above segments.