"Designing Growth Strategies is in our DNA"

Cardiac Rhythm Management (CRM) Devices Market Size, Share and Industry Analysis Product By (Cardiac Pacemakers, Defibrillators, Cardiac Resynchronization Therapy Devices) By End User (Hospitals & Clinics, Ambulatory Surgery Centers), and Regional Forecast, 2019 - 2032

Last Updated: November 04, 2024 | Format: PDF | Report ID: FBI100679

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

Global Cardiac Rhythm Management Devices Market size was stood at USD 13.88 billion in 2018 and is projected to reach USD 27.44 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period (2018-2032). North America dominated the global market with a share of 42.58% in 2018.


Cardiac rhythm management (CRM) devices are extensively used to treat arrhythmia, bradycardia, tachycardia, and sudden cardiac arrests. Since the prevalence of cardiac rhythm conditions is increasing, the adoption of cardiac management devices has been increased significantly during the past decade. Additionally, emerging nations are witnessing a huge demand for these  devices due to a higher prevalence of cardiac conditions, increasing awareness about products amongst the population, and increasing per capita income. According to the European Cardiac Society, in 2017, certain countries in Western Europe were having implant rate of more than 1000 units/million population. This higher rate of implants in developed nations represents higher adoption and patient preference for cardiac rhythm management devices.  


Request a Free sample to learn more about this report.


Key Market Drivers


Defibrillator segmented is projected to drive global  market


Defibrillators are generally used to treat arrhythmia and out-of-hospital cardiac arrests. Implantable cardioverter defibrillator (ICD) is highly recommended by physicians to treat irregular heartbeat, also it delivers electric shocks with the aim to restore the heartbeat. External defibrillators are widely being installed in developed as well as emerging nations in order to deal with the increasing prevalence of out-of-hospital cardiac arrests. Moreover, in certain countries, it is mandatory to install external defibrillators at public places with the aim to offer easy access to the cardiac patient. Defibrillators accounted for an estimated 49.0% of the share in this  market in 2018.  


Market Segmentation


To know how our report can help streamline your business, Speak to Analyst


In terms of products, the global cardiac rhythm management devices market is categorized into cardiac pacemakers, defibrillators, and cardiac resynchronization therapy (CRT) devices. Cardiac pacemakers are further categorized into single chamber pacemakers and dual chamber pacemakers. Defibrillators are further categorized into external defibrillators and implantable defibrillators. Cardiac resynchronization therapy devices are categorized into CRT-P and CRT-D. On the basis of end users, this  market is categorized into clinics& hospitals and ASCs (Ambulatory Surgery Centers) & others. 


Regional Analysis


Higher Adoption of Cardiac Rhythm Management Devices to Cope up with Higher Prevalence of Cardiac Conditions Enables Market to Hold Considerable Share in North America


North America Cardiac Rhythm Management Devices Market Size, 2018

To get more information on the regional analysis of this market, Request a Free sample


North America generated  a revenue of USD 5.91 Bn in 2018 and is expected to dominate the cardiac rhythm management devices market share throughout the forecast period. Higher adoption of pacemakers and ICD implants owing to the gradual shift of patient preference towards preventive care and increasing prevalence of cardiac conditions is expected to drive the market in North America. Moreover, strict implementation of government regulations with respect to installations of external defibrillators in public places is projected to result in increased adoption of external defibrillators, which will eventually boost the market.  In Europe, higher prevalence of sudden cardiac arrests is expected to drive the market in Europe  during the forecast period. In Asia Pacific, increasing awareness about thesecrm devices is projected to increase the adoption of cardiac management devices market, which will eventually accelerate the market in the Asia Pacific.


Key Market Players


Medtronic and Boston Scientific Corporation to Account for More Than Half of the Market Share in Terms of Revenue


Medtronic is a leading player in the global implantable cardioverter defibrillator market. Combined with this, Medtronic also holds a considerable share of the global pacemaker market. Medtronic is anticipated to retain its leading position in the forecast duration owing to its wide range of product offerings, availability of products across the globe and strong customer base. This company, together with Boston Scientific Corporation, currently holds over half of the market share in terms of revenue. Other players operating in the global  market are Cardiac Science, Physio Control, Stryker, Defibtech, LLC., CU Medical Systems Inc., Abbott, Boston Scientific Corporation, LivaNova PLC, MicroPort, BIOTRONIK, and others.


Key Market Players



  • Medtronic

  • Boston Scientific Corporation

  • Biotronik

  • Asahi Kasei Corporation

  • Philips Healthcare

  • Defibtech, LLC.

  • Cardiac Science

  • Stryker

  • CU Medical System Inc.

  • LivaNova Plc

  • Abbott

  • Microport

  • Other prominent players


Report Coverage 


Cardiac rhythm management devices are widely used to treat heart disease and heart rhythm disorders across the globe. Implantable cardioverter defibrillators and pacemakers play a major role in managing heart rhythm. Combined with this, these devices perform other important functions such as bradycardia pacing, defibrillation, and anti-tachycardia pacing. Dramatically increasing prevalence of cardiac conditions and proven efficiency of these  devices to treat such conditions is anticipated to offer huge potential for growth of the global  market by 2026.


The cardiac rhythm management devices market report provides qualitative and quantitative insights on the  industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product, by the end user, and by region. On the basis of the product, the CRM devices market is segmented into cardiac pacemakers, defibrillators, and cardiac resynchronization devices. Cardiac pacemakers are further segmented into single chamber pacemakers and dual chamber pacemakers. Defibrillators are further segmented into external defibrillators and implantable defibrillators. Cardiac resynchronization therapy devices are categorized into CRT-P and CRT-D. Various end users covered under the report are hospitals & clinics and ambulatory surgery centers and others. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and the rest of the World. The regions are further categorized into countries.


An Infographic Representation of Cardiac Rhythm Management (CRM) Devices Market

To get information on various segments, share your queries with us



Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of sudden cardiac arrests in key countries, technological advancements in cardiac rhythm management devices, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, new products launches, reimbursement scenario, and key industry trends.


Segmentation






















Segmentation


  DETAILS

By Product




  • Cardiac Pacemakers



  • Single Chamber Pacemakers

  • Dual Chamber Pacemakers



  • Defibrillators



  • Implantable Cardioverter Defibrillators (ICD)





    • Single Chamber ICD

    • Dual Chamber ICD





  • External Defibrillators





    • Automated External Defibrillators

    • Manual & Semi-Automatic External Defibrillators

    • Wearable Defibrillators



  • Cardiac Resynchronization Therapy Devices



  • CRT-P

  • CRT-D



By End User




  • Hospitals & Clinics

  • Ambulatory Surgery Centers and Others



By Geography




  • North America (the USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Rest of the World



 Key Industry Developments



  • In March 2019, Biotronik launched MRI compatible ICD and CRT-D system in Europe market.

  • In November 2017, Medtronic got FDA approval for their Azure pacemakers. These newly developed pacemakers are equipped with BlueSync technology which enables device longevity and improved patient monitoring.

  • In July 2017, Biotronik launched Evity cardiac resynchronization therapy pacemaker (CRT-P) in Japan market. According to company estimates, it is the highest performing CRT-P with battery life of 10 years.





Frequently Asked Questions

Fortune Business Insights says that the market was valued at US$ 13,883.7 Mn in 2018 and is projected to reach US$ 19,938.3 Mn by 2026.

Growing at a CAGR of 4.4%, the market will exhibit steady growth in the forecast period (2019-2026)

Defibrillator segment is expected to be the leading segment in this market during the forecast period.

Increasing prevalence of cardiac sudden arrests is the key driving factor of the market.

Medtronic and Boston Scientific Corporation are the leading market players in the global market.

North America is expected to hold the highest market share in this market.

Increasing demand for wearable technology in defibrillators is one of the trends in this market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • REPORT UPDATE
    IN PROCESS
  • 2019-2032
    (In Process)
  • 2023
    (In Process)
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X