Cardiac Rhythm Management Devices Market: By Product (Cardiac Pacemaker, Defibrillators, Cardiac Resynchronization therapy devices), By End-User (Hospitals and clinic, Ambulatory surgery centres), By Geography, Segment revenue estimation, Forecast, 2021-2030

Industry Report and Statistics (Facts & Figures) - Sales Volume, ASP & Number of Procedure Conducted by Product Type & End-User

The global cardiac rhythm management devices market will witness a robust CAGR of 6.5%, valued at $17.34 billion in 2021, expected to appreciate and reach $31.9 billion by 2030, confirms Strategic Market Research. North America holds a dominant position in cardiac rhythm management, and the Asia Pacific is poised to show the fastest growth.

 

 

Heart Disease Involves a Wide Range of Conditions that Affect the Heart, which are as follows:

• Blood vessel disease (such as coronary artery disease)

• Heart Rhythm problems (arrhythmias)

• Heart defects that an individual is born with (congenital heart defects)

• Heart valve disease

• The disease of the heart muscle

• Heart infection

Cardiac rhythm management devices are small battery-powered devices placed inside the body and connected to the heart. They help monitor and control the heart rhythm. According to recent studies published in NCBI, Cardiac rhythm management devices have the following applications for Heart Rhythm problems.

• Monitoring Heartbeats (tachycardia and bradycardia)

• Cardiac resynchronization for heart failure

• Defibrillation

• Bradycardia pacing (for Slow Heart Beat)

• Anti-tachycardia pacing (for Fast Heartbeat)

 

 As per American Heart Association (AHA), around 92.1 million adults in the US were suffering from cardiovascular diseases or the after-effects of stroke in 2017.

 

Key Industry Drivers - More Cardiovascular Cases, Photo-Plethysmography Technology, Investments, and Grants

Key factors that promote the growth of the Cardiac Rhythm Management Devices Market Share are

• Increasing cases and prevalence of cardiovascular diseases across the globe and the development of new and high-end cardiac rhythm management. The World Health Organization (WHO) delineated that CVDs (cardiovascular diseases) results in close to 17.9 million fatalities every year (comprising 32% of global mortality)

 

• Apart from the rise in CVDs worldwide, the other market drivers include rapid technological advancements and the increase in the usage of ambulatory and home cardiac monitoring services as they are increasing research funding and awards for Cardiac Monitoring (CM) and Cardiac Rhythm Management (CRM) devices.

 

Restraints - Radiation Impacts, Higher Costs, Product Recalls, and Difficulty to Detect at an Early Stage

• Effects of Therapeutic Radiation on Implantable Cardiac Rhythm Devices can severely hamper the overall market growth.

• Other challenges include the High Cost of Devices, and the cases of Product recalls. 

• Early symptoms of heart diseases are hard to figure out.

Opportunities 

• Cardiac rhythm management (CRM) devices that are in use today are gaining significance beyond monitoring and managing cardiac issues to restoring, repairing, and healing.

 

• Technological Advancements- The use of CRM devices has substantially surged over the past few decades due to increasing life expectancy and constant technological innovations that have extended their scope and abilities. The field has also witnessed significant R&D contributions from leading biotech firms.

 

• Government Support- Product development is aided by cutting-edge technologies, increasing government support and spending on healthcare services. For Example, Million Hearts 2022, a national initiative co-led by the Centers for Disease Control & Prevention (CDC) along with the CMS (Centers for Medicare & Medicaid Services), aims to prevent 1 million heart attacks and strokes within five years in the USA. It focuses on putting in place a limited set of evidence-based priorities and targets that can help improve everyone's cardiovascular health.

 

• High Incidence Rate- An ageing world population and increasing incidence of Cardiovascular Disease creates an opportune time to boost this segment. According to American Heart Association (AHA), Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke (17.0%), high blood pressure (11.0%), heart failure (9.6%), diseases of the arteries (2.9%), and other CVDs (17.4%) in 2018.

 

• Scope in Wearable Technology- The use of wearable tech in healthcare and its application potential in cardiology has been one of the hottest topics. Recent research and studies have demonstrated the efficacy of smart wearable devices for efficient screening and detection of atrial fibrillation (AFib). The increasing prevalence of photo-plethysmography technology in wearables such as fitness trackers and smartwatches can enhance atrial fibrillation (AFib) detection and screening.

 

• Most Preferred-The CRM Devices like AED remain the only best option after doing CPR in an emergency. As per recent findings by American Heart Association, more than 29% of heart attacks happen outside the home, and nearly 45% of cardiac arrest victims get the immediate help they need before emergency responders arrive due to time delays.

 

• Training Opportunities- There is an utmost need to make First Aid, CPR, and AED training a part of the larger culture of safety within workplaces. Recent findings published in NCBI suggested that the main barrier that is holding people back from using a defibrillator during an emergency is a lack of training (around 43 %); followed by a lack of confidence (approx. 41 %), and a fear of causing further damage (nearly 35 %).

 

• Rising Incidences- Moreover, the prevalence of disease, the incorporation of artificial intelligence (AI), and other advanced technologies in CRM devices will further help patients monitor their cardiac health by notifying them and their physicians in case of abnormal activity. According to the Global Disease Burden Report (2017), Ischemic Heart (heart problems caused by narrowed heart arteries) will remain the leading cause of death in the early years until 2040.

 

Market Analysis Of Different Segments Covered in the Report

 Based on Product

• Cardiac Pacemaker

• Defibrillators

• Cardiac Resynchronization therapy devices

 

 Based on End-User

• Hospitals and clinic

• Ambulatory surgery centers

• Others

 

Regional Coverage Analysis

North America

• USA

• Canada

• Mexico

• Rest of North America

 

Europe

• Russia

• Germany

• Italy

• France

• Rest of Europe

 

Asia-Pacific

• India

• China

• Rest of APAC

 

LAMEA

• UAE

• Argentina

• Brazil

• Rest of LAMEA  

 

Product Analysis & Insights

The defibrillators dominated the market comprehensively with a share of over 43.6% in 2021 due to their high adoption globally. Without treatment from a defibrillator, the victim's chances of survival can drop by 10% every minute. According to the WHO, cardiovascular diseases account for more than 30% of deaths globally. More than 30 million people globally are suffering from atrial fibrillation (AFib).

 

Defibrillators - Defibrillators are becoming increasingly available in public places such as shopping centers, train stations, airports, and leisure centers. These defibrillators are called public access defibrillators (PAD), as anyone can use them in an emergency to provide a potentially life-saving shock to a victim of Sudden Cardiac Arrest (SCA).

The two major types of defibrillation devices are

• Automated external defibrillators (AEDs)

• Automatic implantable cardioverter defibrillators (ICDs).

 

Automated external defibrillators- According to the Mayoclinic, Automated external defibrillators are used to revive someone from sudden cardiac arrest. This State usually occurs when a heart's electrical activity disruption causes a dangerously fast heartbeat (ventricular tachycardia) or a fast & irregular heartbeat (ventricular fibrillation). Either of these irregular heart rhythms keeps the heart from pumping effectively and can cause it to stop. Now, Automated external defibrillators are designed to be used general public, regardless of training.

 

ICDs-An implantable cardioverter-defibrillator (ICD) is a small battery-powered device placed in the chest to detect and stop irregular heartbeats (arrhythmias). An Automatic implantable cardioverter defibrillator continuously monitors the heartbeat and delivers electric shocks, when needed, to restore a regular heart rhythm. ICDs are utilized in patients at a high risk of developing a long-term or recurrent arrhythmia that could affect heart function.

 

Cardiac Pacemakers- These can be used to treat slow or irregular heartbeats called arrhythmias. A pacemaker sends electrical impulses to the heart that help it to beat normally. However, pacemakers are seldom used due to certain disadvantages like infection, swelling, and blood clotting. According to a Journal published in American Health Association, more than 3 million people across the globe are living with a pacemaker, and each year around 600,000 pacemakers are implanted to treat bradycardia patients.

 

Cardiac resynchronization therapy- It is a process in which a device is implanted in the chest to help the heart's chambers squeeze (contract) more efficiently. There is an emerging role for Conduction system pacing (CSP) to achieve cardiac resynchronisation in patients with heart failure with reduced ejection fraction and inter-ventricular dyssynchrony. CRT improves exercise capacity and quality of life and reduces heart failure hospitalizations and overall mortality. Cardiac resynchronization therapy devices include-

• CRT-P (cardiac resynchronization treatment with a pacemaker) and

• CRT-D (cardiac resynchronization therapy with a pacemaker plus an ICD)

 

End-User Analysis & Insights

The Hospitals and Clinics segment dominated the market significantly owing to the rise in government funding for healthcare facilities and its various technological advancements.

 

Region Analysis & Insights

The North America dominates the cardiac rhythm management devices market due to the adoption of modern technologies, a growing senior population, and enhanced healthcare infrastructure. According to a Factsheet by the Centers for Disease Control and Prevention-

• Heart disease is regarded as the leading cause of death for men, women, and people in the US

• About 659,000 people in the US die from heart disease each year (1 in every 4 deaths)

• Heart disease costs the US about $363 billion each year from 2016 to 2017.

However, Asia-Pacific is predicted to expand faster due to increased demand for advanced technology and better healthcare facilities. According to WHO estimates, More than 75% of CVD-related deaths occur in low- and middle-income countries.

 

Cardiac Rhythm Management Devices Market Report Coverage

Report Attribute	Details
Forecast Period	2021 - 2030
The market size value in 2021	USD 17.34 Billion
The revenue forecast in 2030	USD 31.90 Billion
Growth rate	CAGR of 6.5%
The base year for estimation	2021
Historical data	2017 – 2020
Unit	USD Billion, CAGR (2021 - 2030)
Segmentation	By Product, By End-Users, and By Region
By Product	Cardiac Pacemaker, Defibrillators, Cardiac Resynchronization therapy devices
By End-User	Hospitals, Physician’s Laboratory, Reference Laboratories, Public Health Laboratories, Research Institutes, Small Molecular Laboratories, Pathology Laboratory
By Region	Asia Pacific, North America, Europe, South America, Middle –East Africa and LAMEA
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.
Company Usability Profiles	Johnson & Johnson (Janssen Diagnostics), F. Hoffmann-La Roche Ltd, Qiagen, Janssen, Diagnostics, Guardant Health Inc., Myriad Genetics, Adaptive Biotechnologies, Epic Sciences, Fluxion Biosciences Inc., Biodesix, Illumina Inc., Bio-Rad Laboratories, Biocept Inc,)
Pricing & purchase options	Customized buying options are available to meet your exact research needs.

 

Global Cardiac Rhythm Management Devices Market Competitive Landscape Analysis

 In this analysis, The industry report details the most significant competitors operating in a global market. The comparison is based on overall revenue generation, market initiatives, company overview, R&D investment, production analysis, value chain optimization, market share financials, company strengths and weaknesses, global presence, production capacity, production sites and facilities, market potential, and other variables.

• Physio-Control, Inc. (Stryker)
• Schiller
• Medtronic
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• BIOTRONIK
• Abbott
• Progetti Srl
• LivaNova Plc

Recent Developments

• In February 2022, Boston Scientific Corporation joined hands with Baylis Medical Company Inc. This collaboration was into advanced transseptal access solutions and guidewires, sheaths, and dilators used in catheter-based left-heart procedures.

 

• In December 2021, GE Healthcare and Minerva Imaging announced a strategic partnership. The partnership aimed to establish a state-of-the-art center for molecular imaging and clinical development of targeted radionuclide therapy.

 

• In March 2019, The FDA cleared a couple of high-voltage CRM devices, Rivacor and Acticor, designed by Biotronik to treat patients with cardiac arrhythmia. With the FDA approval, Biotronik's Rivacor and Acticor brands became the slimmest, smallest 3 Tesla (3T) MR-conditional cardiovascular devices available in the US market.

 

• In May 2019, Medtronic's exclusive CareLink SmartSync Device Manager also gained FDA approval. The application helps healthcare professionals handle and program data from Medtronic's BlueSync-equipped implanted CRM devices via an Apple iPad. The company also launched the MyCareLink Heart mobile application in January. The app enables users to interact with compatible cardiac devices using smart, Bluetooth-enabled technology.

 

Various Devices that are Developed by Cardiac Rhythm Management Companies

Product	Function	Key players
Aveir VR Leadless Pacemaker	They are used to treat patients suffering from Slow Heart Rhythms.	Abbott
Inventra HF-T,	Treating patients with Higher Defibrillation Thresholds	BIOTRONIK
LIFEPAK CR2 Defibrillator	Evaluates the heart rhythm	Stryker
FRED easyport	Portable defibrillator	SCHILLER