Cardiac Rhythm Management Market

Cardiac Rhythm Management Market Outlook (2022 to 2032)

The global cardiac rhythm management market is expected to grow at a CAGR of 4% during the forecast year 2022 to 2032 from USD 22.1 Billion in 2021 to USD 26.8 Billion in 2025.

Technology advancements are primarily responsible for the increase in demand for cardiac rhythm management devices and cardiac rhythm management market on the whole. For staff training, a number of well-known cardiac equipment suppliers are now utilising augmented reality (AR) and virtual reality (VR).

Increased use of IT in healthcare offers opportunities to stop the closure of cardiac rhythm management sales during medical emergencies.

Sales of cardiac rhythm management devices in the US are projected to reach USD 6.3 billion by 2025. The number of arrhythmia monitoring management devices that the FDA has approved will rise, and there are many medical device manufacturers working on market research and development for cardiac rhythm management. These factors will lead to an increase in the cardiac rhythm management market.

Age, ethnicity, and family history are all significant CVD risk factors. Risk factors for the sales of cardiac rhythm management include smoking, high blood pressure (hypertension), high cholesterol, obesity, inactivity, diabetes, poor diets, and alcohol use.

As a result of lifestyle changes, there has been an increase in the prevalence of diseases like hypertension, diabetes, dyslipidemia, and obesity, all of which contribute to the rising incidence of CVD globally.

A specialised device called an implantable cardioverter-defibrillator (ICD) is made to directly treat cardiac tachydysrhythmia. Obesity, smoking, and high cholesterol all contribute to heart disease; if this lifestyle is maintained, ICD implants will become more necessary.

The sales of cardiac rhythm management are anticipated to be hampered by a lack of knowledge about unexpected cardiac arrests and the high cost of the devices. Ageing populations are exacerbated by higher disposable income, and technological advancements will drive up demand for cardiac rhythm management.

Favorable reimbursement practises have increased cardiac rhythm management market penetration by encouraging patients in nations like Canada, the United States, and the United Kingdom to use medical devices more frequently. Furthermore, it is anticipated that over the course of the forecast period, government efforts will increase and new CRM technologies will be adopted.

The increased focus on emerging markets by cardiac rhythm management market players, particularly the Asia-Pacific and LAMEA regions, is likely to increase cardiac rhythm management sales.

During the anticipated years, the cardiac rhythm management market in Asia-Pacific is anticipated to grow at the fastest rate. Manufacturers in the sector anticipate capitalising on growth in developing nations like China and India.

The largest cardiac rhythm management market share for cardiac rhythm management is found in North America. The cardiac rhythm management market is anticipated to grow at a double digit CAGR over the forecast period due to the rapid advancement of technology.

Due to the ageing population in Western Australia, the incidence and rates of cardiac permanent pacemaker implantation are steadily rising, which has increased demand for cardiac rhythm management.

Similar patterns can be seen in the financial outcomes of other market participants. Because of the pandemic, the cardiac rhythm management market initially suffered. It has, however, begun to bounce back. As the second leading cause of death in the United States, physical inactivity is a serious public health concern.

Morbidity and the emergence of chronic diseases like diabetes and cardiac disorders are caused by physical inactivity. Additionally, both in developed and developing nations, it has been estimated that between 60% and 85% of the population leads a sedentary lifestyle. More demand growth is anticipated over the forecast period as a result of this.

As a result, the continued rise in pacemaker implantation and cost-effectiveness are a couple of the factors that have contributed to the rise in cardiac rhythm management market share and demand. Medtronic Plc, St. Jude Medical Inc, Boston Scientific Corporation, Abbott Laboratories, Biotronik, and Sorin Group are a few of the cardiac rhythm management market participants mentioned.

In order to provide low-cost treatment devices in this region, major corporations like GE Healthcare and Philips Healthcare have made significant investments in the development of their infrastructure, including R&D centres and manufacturing facilities.

Abbott's Gallant ICD and CRT-D devices were approved by the US Food and Drug Administration (FDA) in July 2020. This allowed the business to grow its portfolio while marketing the device in the United States. The need for cardiac rhythm management in the area has increased as a result.

Report Attributes	Details
Estimated Base Year Value (2021)	USD 22.1 Billion
Anticipated Forecast Value (2025)	USD 26.8 Billion
Projected Growth Rate (2022 to 2032)	4% CAGR

Which are the Key Cardiac Rhythm Management Market Trends?

The demand for cardiac rhythm management devices is mostly driven by technological advancements. Several prominent cardiac equipment suppliers are now using augmented reality (AR) and virtual reality (VR) for staff training.

Increased IT use in healthcare is presenting chances in medical crises to avert the closure for sales of cardiac rhythm management.

By 2025, the sales of cardiac rhythm management devices in the United States are expected to have grown to USD 6.3 billion. The cardiac rhythm management market will increase as a result of the increasing number of FDA approvals for arrhythmia monitoring management devices, as well as the existence of a significant number of medical device manufacturers engaged in cardiac rhythm management market research and development.

More than 75,000 hospitalizations are related to atrial fibrillation, according to research published by the US Centers for Disease Control and Prevention (CDC) in 2017. It's also important to note that atrial fibrillation affects a huge portion of the US population. As a result, in the forecast period, it is expected to increase even higher.

What are the Major Drivers in the Cardiac Rhythm Management Market?

Family history, ethnicity, and age are all important risk factors for CVD. Tobacco use, high blood pressure (hypertension), high cholesterol, obesity, physical inactivity, diabetes, poor diets, and alcohol use are all risk factors for the sales of cardiac rhythm management.

There has been an increase in the incidence of disorders such as hypertension, diabetes, dyslipidemia, and obesity as a result of lifestyle changes, all of which contribute to the growing incidence of CVD throughout the world.

An implantable cardioverter-defibrillator (ICD) is a specialized device designed to directly treat cardiac tachydysrhythmia. High levels of alcohol consumption, cholesterol levels and smoking obesity contribute to heart disease; continence of such lifestyle will increase the requirement of ICD implants.

What are the Restraints in the Cardiac Rhythm Management Market?

Lack of awareness about sudden cardiac arrests and the high cost of the devices is expected to hinder the sales of cardiac rhythm management. Higher disposable income increases the number of aging populations, technological advancement will spur the growth of demand for cardiac rhythm management.

What is the Regional Segmentation in the Cardiac Rhythm Management Market?

The sales of cardiac rhythm management are likely to be boosted by cardiac rhythm management market players' increased focus on emerging markets, particularly the Asia-Pacific and LAMEA regions.

Asia-Pacific cardiac rhythm management market is expected to be the fastest growing cardiac rhythm management market during the forecasted years. Manufacturers in the industry are looking forward for capitalized growth in developing countries such as China and India.

North America holds the largest cardiac rhythm management market share of the total market.

With rapid technological advancement, the demand for cardiac rhythm management market is expected to increase at a double digit CAGR during the forecast period.

Emerging Cardiac Rhythm Management Markets

The incidence and rates of insertion of cardiac permanent pacemakers are steadily increasing in Western Australia, owing to the ageing population, which has boosted the sales of cardiac rhythm management.

As a result, the continued rise in pacemaker implantation, as well as cost-effectiveness, are some of the reasons that have resulted in the increased demand for cardiac rhythm management and rise in cardiac rhythm management market share.

Who are the Key Players in the Cardiac Rhythm Management Market?

Some of the players in the cardiac rhythm management market identified includes, Medtronic Plc, St. Jude Medical Inc, Boston Scientific Corporation, Abbott Laboratories, Biotronik, and Sorin Group.

For example, in the last few years, significant companies like as GE Healthcare and Philips Healthcare have substantially invested in the development of their infrastructure in emerging nations, such as R&D centers and manufacturing facilities, in order to deliver low-cost treatment devices in this region. This has expanded the demand for cardiac rhythm management in the region.

Report Scope

Report Attributes	Details
Growth Rate	CAGR of 4% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Product Type, End user, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APAC; Middle East and Africa
Key Countries Profiled	USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Nordics, Belgium, Netherlands, Luxembourg, Poland, Russia, China, ASEAN, Australia & New Zealand, Japan, GCC, South Africa, North Africa
Key Companies Profiled	Medtronic Plc; St. Jude Medical Inc; Boston Scientific Corporation; Abbott Laboratories; Biotronik; Sorin Group
Customization Scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

What is the Growth Outlook for Cardiac Rhythm Management Market?

The market is likely to register a CAGR of 4% through 2032.

What is the Current Valuation of the Cardiac Rhythm Management Market?

The market is currently valued at USD 22.1 Bn in 2021.

How is the Future of the Cardiac Rhythm Management Market?

The market is likely to grow to a valuation of USD 26.8 Bn by 2025.

Which is the Leading Region in the Market?

Asia Pacific is likely to be a leading market during the forecast period.