Cardiac Rhythm Management (CRM) Devices And Equipment Global Market Report 2024

The cardiac rhythm management (crm) devices and equipment market size has grown strongly in recent years. It will grow from $16.63 billion in 2023 to $17.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be linked to several factors such as the prevalence of arrhythmias, advancements in technology, an aging population, and the management of chronic diseases.

The cardiac rhythm management (crm) devices and equipment market size is expected to see strong growth in the next few years. It will grow to $23.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the upcoming period is influenced by factors such as personalized medicine, technological advancements, integration of telehealth, and increased global access to healthcare. The primary trends expected in this forecast period encompass innovations in leadless CRM devices, biodegradable devices, remote monitoring, and combination therapies.

The surge in the elderly demographic is anticipated to drive the growth of the cardiac rhythm management (CRM) devices and equipment market. As the population of individuals aged 65 and above continues to expand, the prevalence of cardiovascular ailments increases, resulting in a heightened demand for CRM devices. These tools are vital in addressing heart rhythm disorders like arrhythmias and significantly improving the quality of life for the elderly. According to the Administration for Community Living, the senior population reached 55.8 million in 2020, projected to reach 80.8 million by 2040 and 94.7 million by 2060. This demographic shift is a key driver behind the expanding CRM devices and equipment market.

The primary products in the realm of cardiac rhythm management devices are pacemakers, defibrillators, and cardiac resynchronization therapy (CRT). Pacemakers, for instance, are compact devices implanted in the chest to regulate heartbeats, preventing slow heart rates. These devices serve purposes such as managing bradycardia, tachycardia, heart failure, and other related conditions. They are employed across different medical facilities, including hospitals, ambulatory surgical centers, and physician clinics.

The cardiac rhythm management (CRM) devices and equipment market research report is one of a series of new reports that provides cardiac rhythm management (CRM) devices and equipment market statistics, including cardiac rhythm management (CRM) devices and equipment industry global market size, regional shares, competitors with a cardiac rhythm management (CRM) devices and equipment market share, detailed cardiac rhythm management (CRM) devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the cardiac rhythm management (CRM) devices and equipment industry. This cardiac rhythm management (CRM) devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Increasing occurrences of cardiovascular ailments, including cardiac arrhythmia, ischemic heart disease, and hypertension, are stimulating growth in the CRM devices market. Sedentary lifestyles and medical conditions like high cholesterol, hypertension, obesity, and diabetes are primary contributors to these cardiovascular diseases. The World Health Organization notes that cardiovascular diseases are responsible for around 31% of global deaths, predominantly due to heart attacks and strokes. With a growing number of individuals affected by cardiovascular conditions, the need for cardiac rhythm management devices is anticipated to rise.

The constraints on the cardiac rhythm management devices and equipment market are due to the risks associated with their usage. Potential risks include post-implant infections and contraindications in patients receiving radiation therapy or diagnosis. Implantable CRM devices contain materials like complementary metal-oxide-semiconductor (CMOS) that might be vulnerable to damage from therapeutic radiation doses. Moreover, given their high sensitivity, any malfunction could pose life-threatening consequences for patients. These significant risks associated with CRM device usage are impacting the market's growth.

Key players in the cardiac rhythm management (CRM) devices and equipment market are innovating by developing advanced products such as the single-chamber (VR) leadless pacemaker, aimed at managing heart rhythm issues and enhancing patient outcomes. This leadless pacemaker is directly implanted into the heart's right ventricle via a minimally invasive procedure, eliminating the need for cardiac leads. Abbott Laboratories, a US-based medical device company, received FDA approval in April 2022 for the Aveir single-chamber (VR) leadless pacemaker to address slow heart rhythms in patients. This device offers comprehensive insights into patient health and heart activity, enabling better treatment decisions and enhancing patient outcomes. The Aveir VR leadless pacemaker's software has been designed for potential expansion to a dual-chamber system, promising additional treatment options for future patients.

Innovative technologies like the subcutaneous implantable cardioverter-defibrillator (S-ICD) and leadless cardiac pacemakers (LCP) aim to address complications associated with transvenous lead and other cardiac rhythm management (CRM) devices. A modern modular cardiac rhythm management (mCRM) system facilitates wireless communication between devices for coordinated leadless pacing and defibrillator therapy. This system allows anti-tachycardia pacing-enabled LCP and S-ICD to communicate within the body. For example, Medtronic's Micra, a leadless pacemaker, is vein-inserted and self-contained within the heart.

Cardiac rhythm management device manufacturers are subject to regulation by authorities like the FDA in the United States. The FDA ensures product safety and addresses any flaws that could potentially jeopardize consumer well-being. For instance, a recall was initiated by the FDA on the Platinium implantable cardiac defibrillator and resynchronization therapy defibrillator due to concerns regarding hardware configuration and performance. The company was obliged to remove all non-implanted Platinium devices and follow up with patients who had these devices implanted.

Major companies operating in the cardiac rhythm management (CRM) devices and equipment market include Abbott Laboratories, Medtronic PLC, Biotronik SE & Co KG, Cardiac Science Corporation, Schiller AG, Hill-Rom Holdings Inc., GE Healthcare, Integer Holdings, Neovasc Inc., Philips Healthcare, Stryker Corporation, Rochling Medical, CCC Medical Devices, LivaNova PLC, ZOLL Medical Corporation, Koninklijke Philips N.V, Applied Cardiac System, Cook Medical, Abiomed Inc., Berlin Heart GmbH, Brotionik SE and Co. KG, Jarvik Hearth Inc., MicroPort Scientific Corp, ReliantHeart Inc., Shree Pacetronix Ltd., Shaanxi Qinming Medical Instrument Co. Ltd., AtriCure Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Progetti Srl

North America was the largest region in the global cardiac rhythm management (CRM) devices and equipment market in 2023. Western Europe was the second-largest region in the cardiac rhythm management (CRM) devices and equipment market. The regions covered in the cardiac rhythm management (CRM) devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the cardiac rhythm management (CRM) devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The cardiac rhythm management (CRM) devices and equipment market consist of sales of Pacemakers, (implantable pacemakers, external pacemakers), defibrillators (implantable cardioverter defibrillators, external defibrillators), and cardiac resynchronization therapy (CRT-defibrillators, CRT-pacemakers) that are used for rhythm management. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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