Report ID: 10070779 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Cardiac Rhythm Management (CRM) Devices Market Highlights Over 2022 - 2031
The global cardiac rhythm management (CRM) devices market catered the revenue figure of nearly USD 19 billion in the year 2021 and is estimated to garner a decent revenue by the end of the year 2031, by growing at a CAGR of ~8% over the forecast period, i.e., 2022– 2031. The growth of the market can primarily be attributed to the increasing prevalence of cardiovascular diseases (CVD), and rising awareness among affected patients about the benefits of early and advanced treatment. According to the data given by the World Health Organization (WHO), cardiovascular disease is the leading cause for most deaths worldwide. As per the statistics published by the WHO from the year 2019, an estimated of 17.9 million deaths was caused by CVDs globally.
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Cardiac rhythm management is a part of electrophysiology, a branch of physiology that studies the electrical properties of biological cells and tissues. CRM devices are small battery-powered devices that are inserted inside the body and attached to the heart, which helps in monitoring and controlling the rhythm of the heart. The increasing prevalence of cardiovascular diseases such as arrhythmia, cardiac arrest, coronary heart disease, and others has given the rise to the market. Moreover, the development of new and high-end cardiac rhythm management devices is expected to drive the growth of the market.
The market is segmented by product, application, and end-users. Based on product segment, the cardiac rhythm management (CRM) devices market is segmented into pacemakers, defibrillators, and cardiac resynchronization therapy (CRT). Among these segments, the cardiac resynchronization therapy (CRT) segment is estimated to hold the largest market share by the end of the year 2031 by growing at a significant CAGR during the forecast period. The growth of this segment can majorly be attributed to growing incidences of heart failure. According to WHO, out of the deaths caused by CVDs in the year 2019, 85% of those deaths were caused due to heart attacks and strokes. Cardiac resynchronization therapy is the insertion of electrodes in the left and right ventricles to treat heart failure by coordinating the functions of the ventricles.
Global Cardiac Rhythm Management (CRM) Devices Market Regional Synopsis
Regionally, the global cardiac rhythm management devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region witnessed tremendous growth in the year 2021 as a result of enhanced healthcare infrastructure and increasing cases of cardiovascular diseases. On the other hand, the market in the Asia Pacific region is estimated to grow with a notable CAGR during the forecast period on the back of increasing number of CVD patients, increasing funding in healthcare infrastructure, rising awareness about treatment among patients, and inactive lifestyles followed by unhealthy diets. As per the American College of Cardiology, 58% of the total deaths caused by CVD in 2019 were reported from the Asia Pacific region.
Market Segmentation
Our in-depth analysis of the global cardiac rhythm management (CRM) devices market includes the following segments:
By Product
Pacemakers
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Implantable Pacemakers (ICPS)
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External Pacemakers
Defibrillators
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Implantable Cardioverter Defibrillators (ICDS)
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External Defibrillators (ED)
Cardiac Resynchronization Therapy (CRT)
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Cardiac Resynchronization Therapy Defibrillators (CRT-D)
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Cardiac Resynchronization Therapy Pacemakers (CRT-P)
By Application
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Bradycardia
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Tachycardia
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Heart Failure
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Others
By End Users
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Hospitals
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Home Care Settings
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Ambulatory Care Settings
Growth Drivers and Challenges Impacting the Growth of the Global Cardiac Rhythm Management (CRM) Devices Market
Growth Drivers
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Increasing cases of cardiovascular diseases
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Technological advancements in CRM devices
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Rising demand for ambulatory and home care settings among people
Challenges
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Concern for the side effects associated with therapeutic dose of radiation
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Malfunction of CRM implants
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High cost of CRM devices
Key Companies Dominating the Global Cardiac Rhythm Management (CRM) Devices Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the cardiac rhythm management (CRM) devices market that are included in our report are Medtronic, Abbott, ABIOMED, BIOTRONIK SE & Co. KG, Koninklijke Phillips N.V., ZOLL Medical Corporation, LivaNova PLC, Progetti srl, Schiller Americas, inc., Physio-Control Inc. and others.
Latest Developments in the Global Cardiac Rhythm Management (CRM) Devices Market:
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1 June 2021: ABIOMED announced the aSEcquisition of preCARDIA, a medical device company, in order to expand the options for patients affected with acute decompensated heart failure (ADHF) and improve outcomes for heart failure.
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3 December 2020: LivaNova PLC signed an agreement with Gyrus Capital, an investment firm in healthcare sector wherein Gyrus will acquire The LivaNova heart valves (HV) business with the agenda of dedicating to heart surgeons and patients by providing best solutions to fight structural heart disease.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by product, application, end users and by region.
Cardiac resynchronization therapy segment is anticipated to hold largest market size in value and is estimated grow at a significant CAGR over the forecast period and display significant growth opportunities.
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Report ID: 10070779 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
