The global cardiac rhythm management market is estimated expand at a considerable CAGR during the forecast period, from 2020 to 2026. The growth of the market is attributed to the rapidly increasing cases of coronary heart diseases worldwide.



Cardiac Rhythm Management Market Executive Summary




Cardiac Rhythm Management is a method in which a machine is implanted in the chest area to regulate both slow and fast cardiac rhythms using electric pulses.


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Market Trends, Drivers, Restraints, and Opportunities:



Increase in the geriatric population is one of the key factors pushing the growth of the market.


Growth in awareness regarding various heart related diseases and disorders such as myocardial infarction, heart failure, heart arrhythmia, tachycardias, and others, is expected to fuel the market growth.


Periodic technological advancements coupled with government initiatives are another key factor that is anticipated to boost the growth of the market.


Insufficient awareness regarding sudden cardiac arrest (SCA) is expected to hamper the market growth.


Lack of medical professionals who are skilled to conduct surgeries and diagnosis is expected to hinder the growth of the market.


Several issues regarding reimbursement is estimated to restrain the market growth.



Scope of the Report

The report on the global cardiac rhythm management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes Details
Base Year 2019
Historic Data 2015–2018
Forecast Period 2020–2026
Regional Scope Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast


Cardiac Rhythm Management Market Taxanomy


Global Cardiac Rhythm Management Market Segment Insights:

Based on product types, the global cardiac rhythm management market is divided into defibrillators and pacemakers. The defibrillators are sub segmented into implantable cardioverter defibrillators (ICDS) and external defibrillators. The external defibrillators sub segment is further divided into manual external defibrillators (MEDS) and automated external defibrillators (AEDS).

In terms of Implantability, the market is bifurcated into implantable cardiac pacemaker and external cardiac pacemaker. Based on technologies, the market is fragmented into dual-pacemaker, single-chamber, and bi-ventricular.

On the basis of types, the global cardiac rhythm management market is divided into traditional pacemakers, remote pacemakers, and cardiac resynchronization therapy devices. The cardiac resynchronization therapy devices have sub segments such as cardiac resynchronization therapy defibrillators (CRT-D) and cardiac resynchronization therapy pacemakers (CRT-P). In terms of end-users, the market is divided into home, ambulatory care, hospitals, and others.

On the basis of regions, the global cardiac rhythm management market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is a key region in the market. Growth of the market in the region can be attributed to an increased focus on medical care expenditure, large number of technological innovations, increasing deaths due to cardiovascular diseases, and growing investments in infrastructure for health facilities. The market in Asia Pacific is also anticipated to see a growth in the forecast period, especially in emerging countries such as China and India owing to the large population, surging disposable incomes, and an increase in the number of patients with heart related disorders.


Competitive Landscape:

Major companies in the global cardiac rhythm management market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, General Electric Company, Koninklijke Philips N.V., Mentice, The 3M Company, Biotronik, ZOLL Medical Corporation, Integer Holdings Corporation, Neovasc Inc., Cardiac Science Corporation, Röchling, Stryker, LivaNova PLC, Welch Allyn, Cook, Hill-Rom Services Inc., Applied Cardiac Systems, Inc., Schiller AG, and others. The companies are engaging in various activities such as product launches, acquisitions, research & development, agreements, collaborations, and alliances to gain market share.

In July 2019, Biomonitor III was introduced by a company called Biotronik. It is an injectable next generation cardiac monitor which provides a high quality signal. This machine assists patients whose heart rhythms are abnormal. It does this by monitoring the rhythm with superior technology and detects unexplained syncope or possible chance of arrhythmia.

In May 2019, a medical device company called Abbott Laboratories, launched a next-generation identification technology with the permission of the U.S. food and drug administration (FDA) as well as the C.E., which is the trademark in Europe. It is a paper clip-sized electromechanical machine that links to a smart phone with continuous monitoring for fast and accurate screening to track unexpected cardiac rhythm problems. This machine will assist people who are at risk for irregular heartbeat. In January 2019, another medical device company by the name of Medtronic plc, acquired its competitor EPIX Therapeutics, Inc. (formerly Advanced Cardiac Therapeutics, Inc., in order to expand their market share.



Cardiac Rhythm Management Market Regional Graph


The global cardiac rhythm management market has been segmented on the basis of


Product Types



Defibrillators


Implantable Cardioverter Defibrillators (ICDS)


External Defibrillators




Manual External Defibrillators (MEDS)


Automated External Defibrillators (AEDS)


Pacemakers



Implantability



Implantable Cardiac Pacemaker


External Cardiac Pacemaker



Technologies



Dual-Pacemaker


Single-Chamber


Bi-Ventricular



Types



Traditional Pacemakers


Remote Pacemakers


Cardiac Resynchronization Therapy Devices


Cardiac Resynchronization Therapy Defibrillators (CRT-D)


Cardiac Resynchronization Therapy Pacemakers (CRT-P)



End-users



Home


Ambulatory Care


Hospitals


Others



Regions



Asia Pacific


North America


Latin America


Europe


Middle East & Africa