Global Cardiac Rhythm Management Devices Market, By Product CM (ECG (Holter Monitor), ILR, Event Monitor)), CRM ((Defibrillator (ICD) External (AED)), Pacemaker (CRT P, Dual Chamber Pacemaker)), By End User (Hospitals, Clinics, Cardiac Centers and Ambulatory Surgery Centers and Other) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Report Code: PMI484922 | Publish Date: June 2022 | No. of Pages: 168

Global Cardiac Rhythm Management Device Market Overview

Cardiac rhythm management is a branch of electrophysiology that deals with how the heart works. The usage of cardiac rhythm management devices, such as cardiac resynchronization therapy, pacemakers, implantable cardioverter defibrillators, and loop recorders, has evolved during the previous decade. Patients with these devices are increasingly being followed up on and managed by general practitioners (GPs). The COVID-19 pandemic has had a significant influence on all industries, including the cardiac rhythm management (CRM) device business. Due to the postponement of cardiovascular treatments, market participants have suffered significant losses in their cardiac rhythm management divisions. Medtronic, for example, saw a 12% drop in sales in its cardiac rhythm management products category in 2020 compared to 2019. The pacemakers, ICDs, and CRT-Ds segments all saw a significant drop in sales. Medtronic's annual revenue, as well as the revenue of its cardiac rhythm and heart failure segments, are expected to rebound in 2021. Between 2020 and 2021, the company's total sales increased by 4.16 percent. The Global Cardiac Rhythm Management Device Market accounted for US$ 21.45 billion in 2020 and is estimated to be US$ 33.10 billion by 2030 and is anticipated to register a CAGR of 4.50%.

Global Cardiac Rhythm Management Device Market Dynamics

Rising incidence of heart failure boost the market growth

The rising incidence of heart failure and the increasing number of patients with recurrent arrhythmias around the world are two factors contributing to the growth of the cardiac rhythm management (CRM) devices market. According to Boston Scientific, more than 4 million Americans suffer from recurring arrhythmias, and someone dies from abrupt cardiac arrest every 39 seconds. Heart failure affects around 5 million people in the United States. As a result, the use of CRM devices among healthcare practitioners has gained traction, which is likely to fuel the growth of the cardiac rhythm management devices market in the coming years.

The market is expected to increase significantly in the approaching years, owing to the rising prevalence of cardiovascular illnesses. According to the journal Diagnostic and Interventional Cardiology, around 3 million people worldwide had pacemakers in 2018, and roughly 600,000 pacemakers are installed each year to treat bradycardia patients. The increasing number of indications for implanted cardioverter defibrillator and permanent pacemaker installation has increased demand and use of these cardiac rhythm management devices in patients, fueling corporate growth. As a result, such breakthroughs that lead to the emergence of heart rhythm management will fuel the expansion of the cardiac rhythm management devices sector.

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Global Cardiac Rhythm Management Device Market Segmentation

 

                                          Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

The Global Cardiac Rhythm Management Device Market is segmented based on type, end-user and region.

On the basis of Type, the Global Cardiac Rhythm Management Device Market is segmented into ECG (Holter Monitor), ILR, Event Monitor)), CRM ((Defibrillator (ICD) External (AED)), Pacemaker (CRT P, Dual Chamber Pacemaker). Based on End-User, the target market is segmented into Hospitals, Clinics, Cardiac Centers and Ambulatory Surgery Centers and Others.

Regional Insights:

 

                                                                                                                           Source: Prophecy Market Insights

                                       

On region the Global Cardiac Rhythm Management Device Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the CRM device market in 2021, with a revenue share of more than 41.0 percent. This is due to a number of variables, including a well-established healthcare system, an ageing population, the quick adoption of technologically advanced products (such as long battery life, biocompatible materials or downsizing, and leadless), and more regulatory approvals. Many businesses are currently working on new pacemaker and implantable cardioverter defibrillator (ICD) devices. Furthermore, the rising frequency of cardiovascular disorders in the region is driving demand for CRM devices, which is supporting market growth. Due to rising R&D investments by international players such as the China Cardiovascular Association and the American College of Cardiology working together to develop ground-breaking technologies for cardiac care, the market for cardiac rhythm management devices in Asia Pacific is expected to grow at the fastest rate of 7.6% during the forecast period. Furthermore, developed Asian economies continue to lag behind OECD countries in terms of reducing the numerous causes of CVDs, such as cigarette smoking. Increased attempts to raise awareness, such as Japan's smoke-free legislation for the 2020 Olympic Games, are projected to boost growth.

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Report Scope:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Type- ECG (Holter Monitor), ILR, Event Monitor)), CRM ((Defibrillator (ICD) External (AED)), Pacemaker (CRT P, Dual Chamber Pacemaker)

By End-user- Hospitals, Clinics, Cardiac Centers and Ambulatory Surgery Centers and Other

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Cardiac Rhythm Management Device Market report based on Type, End-User and region.

Global Cardiac Rhythm Management Device Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Cardiac Rhythm Management Device Market Key Players

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.

Global Cardiac Rhythm Management Device Market Company Profile

  • Abbott
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Abiomed
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Biotronik SE & Co KG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Boston Scientific Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Koninklijke Philips NV
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • LivaNova Plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Medtronic PPLC
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • SchillerAG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance

Business Strategies

Global Cardiac Rhythm Management Device Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Electric Vehicle Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By End-User
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Cardiac Rhythm Management Device Market, By Type, 2020 – 2030, (US$ Mn)
    • Overview                                                                                                 
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • ECG
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • ILR
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • CRM
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Pacemaker
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Cardiac Rhythm Management Device Market, By End-User, 2020 – 2030, (US$ Mn)
    • Overview                                                                                        
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Hospitals
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Clinics
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Cardiac Centers and Ambulatory Surgery Centers
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Cardiac Rhythm Management Device Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles
  • Abbott
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Abiomed
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Biotronik SE & Co KG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Boston Scientific Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Koninklijke Philips NV
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • LivaNova Plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Medtronic PPLC
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • SchillerAG
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Global Cardiac Rhythm Management Device Market is segmented based on type, end-user and region.

Rising incidence of heart failure is major factor driving the market.

During the forecast period, North America is expected to dominate the market.

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.