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Global Cardiac Rhythm Management Devices Market: By Product: Defibrillators, Pacemakers, Cardiac Resynchronization Therapy (CRT) Devices; By Application; By End-User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Cardiac Rhythm Management Devices Market Outlook

The global cardiac rhythm management devices market reached a value of about USD 15.8 billion in 2021. The industry is further expected to grow at a CAGR of about 5.00% in the forecast period of 2022-2027 to reach a value of around USD 20.17 billion by 2027.

 

Global Cardiac Rhythm Management Devices Market

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North America to be a Significant Regional Market for Cardiac Rhythm Management Devices

North America dominates the market for cardiac rhythm management (CRM) devices and holds one of the largest revenue shares owing to various factors, including well-established healthcare infrastructure, rising elderly population, increased adoption of technologically advanced products, and rising regulatory approvals. Many companies are currently working on new pacemaker and implantable cardioverter defibrillator (ICD) devices, based on existing pacemakers. The rising frequency of cardiovascular disorders in the region is driving the demand for CRM devices, which is driving the market growth.

 

Defibrillators are Expected to hold the Largest Market in Product Type

A defibrillator is a medical device that sends an electric pulse or shock to the heart to restore a regular heartbeat. This device is used to treat cardiac problems, such as arrhythmia, an irregular heartbeat, or a heartbeat that is too rapid or too slow. Due to its effectiveness in treating cardiac arrest, the use of a defibrillator is on the rise. Implantable cardioverter defibrillators (ICDS) are recommended by physicians to treat irregular heartbeat, while external defibrillators are widely being installed in developed and emerging nations to deal with the increasing prevalence of out-of-hospital cardiac arrests.

 

Market Segmentations

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 last decade. Arrhythmia, bradycardia, tachycardia, and sudden cardiac arrests all are treated with cardiac rhythm management devices.

 

Global Cardiac Rhythm Management Devices Market by Segments

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By product, the market includes:

  • Defibrillators
    • Implantable Cardioverter Defibrillators (ICDS)
    • External Defibrillators (ED)
  • Pacemakers
    • Single Chamber Cardiac Pacemaker
    • Dual Chamber Cardiac Pacemaker
  • Cardiac Resynchronization Therapy (CRT) Devices
    • Cardiac Resynchronization Therapy Defibrillators (CRT-D)
    • Cardiac Resynchronization Therapy Pacemakers (CRT-P)

The significant applications of the market are:

  • Bradycardia
  • Tachycardia
  • Heart Failure
  • Others

The end-users of the market are:

  • Hospitals and Clinics
  • Ambulatory Surgery Centres
  • Homecare Settings

The regional markets for the cardiac rhythm management devices industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Global Cardiac Rhythm Management Devices Market by Region

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Growing Prevalence of Cardiovascular Diseases Augmenting the Market Growth

The surging volume of patients suffering from cardiac disorders and heart failure across the globe, rising investment in the development of advanced technological devices, changing lifestyle of the people, increasing usage of home care and ambulatory services for cardiac monitoring are some of the significant factors that will propel the growth of the market for cardiac rhythm management devices in the forecast period of 2020-2027. Increasing applications in developing economies and a growing number of research activities to the next level will further boost various opportunities that will lead to the growth of the cardiac rhythm management devices industry in the forecast period.

Favourable reimbursement policies have led to higher adoption of medical devices by patients in countries like Canada, the United States, and the United Kingdom, thereby increasing market penetration. Furthermore, increased government efforts and the implementation of new CRM technology are expected to promote growth over the forecast period. For example, regulations governing the use of external defibrillators in public locations.

 

Key Players in the Global Cardiac Rhythm Management Devices Market

The report gives a detailed analysis of the following key players in the global cardiac rhythm management devices industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Boston Scientific Corporation (BSC)
  • BIOTRONIK SE & Co KG
  • Medtronic Plc
  • Stryker Corporation
  • MicroPort Scientific Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Industry Opportunities and Challenges  
8    Global Cardiac Rhythm Management Devices Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cardiac Rhythm Management Devices Historical Market (2017-2021) 
    8.3    Global Cardiac Rhythm Management Devices Market Forecast (2022-2027)
    8.4    Global Cardiac Rhythm Management Devices Market by Product
        8.4.1    Defibrillators
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Implantable Cardioverter Defibrillators (ICDS)
                8.4.1.4.2    External Defibrillators (ED)
        8.4.2    Pacemakers
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Single Chamber Cardiac Pacemaker
                8.4.2.4.2    Dual Chamber Cardiac Pacemaker
        8.4.3    Cardiac Resynchronization Therapy (CRT) Devices
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
            8.4.3.4    Breakup by Type
                8.4.3.4.1    Cardiac Resynchronization Therapy Defibrillators (CRT-D)
                8.4.3.4.2    Cardiac Resynchronization Therapy Pacemakers (CRT-P)
    8.5    Global Cardiac Rhythm Management Devices Market by Application
        8.5.1    Bradycardia
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Tachycardia
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Heart Failure
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Others
    8.6    Global Cardiac Rhythm Management Devices Market by End-User
        8.6.1    Hospitals and Clinics
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Ambulatory Surgery Centres
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Homecare Settings
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
    8.7    Global Cardiac Rhythm Management Devices Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Boston Scientific Corporation (BSC)
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    BIOTRONIK SE & Co KG
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Medtronic Plc
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Stryker Corporation
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    MicroPort Scientific Corporation
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Cardiac Rhythm Management Devices Market: Key Industry Highlights, 2017 and 2027
2.    Global Cardiac Rhythm Management Devices Historical Market: Breakup by Product (USD Billion), 2017-2021
3.    Global Cardiac Rhythm Management Devices Market Forecast: Breakup by Product (USD Billion), 2022-2027
4.    Global Cardiac Rhythm Management Devices Historical Market: Breakup by Application (USD Billion), 2017-2021
5.    Global Cardiac Rhythm Management Devices Market Forecast: Breakup by Application (USD Billion), 2022-2027
6.    Global Cardiac Rhythm Management Devices Historical Market: Breakup by End-User (USD Billion), 2017-2021
7.    Global Cardiac Rhythm Management Devices Market Forecast: Breakup by End-User (USD Billion), 2022-2027
8.    Global Cardiac Rhythm Management Devices Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Cardiac Rhythm Management Devices Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Cardiac Rhythm Management Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Cardiac Rhythm Management Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Cardiac Rhythm Management Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Cardiac Rhythm Management Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Cardiac Rhythm Management Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Cardiac Rhythm Management Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Cardiac Rhythm Management Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Cardiac Rhythm Management Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Cardiac Rhythm Management Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Cardiac Rhythm Management Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Cardiac Rhythm Management Devices Market Structure

Key Questions Answered in the Report

In 2021, the global cardiac rhythm management devices market attained a value of nearly USD 15.8 billion.

The market is projected to grow at a CAGR of 5.00% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 20.17 billion by 2027.

The major drivers of the market include the well-established healthcare infrastructure, increasing elderly population, changing lifestyle, increasing usage of home care and ambulatory services, increasing applications in developing economies, growing number of research activities, and favourable reimbursement policies.

The surging volume of patients suffering from cardiac disorders and rising investment in the development of advanced technological devices are the key industry trends propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Based on product, the market is segmented into defibrillators, pacemakers, and cardiac resynchronisation therapy (CRT) devices. Defibrillators are further divided into implantable cardioverter defibrillators (ICDS) and external defibrillators (ED) while pacemakers are sub-divided into single chamber cardiac pacemaker and dual chamber cardiac pacemaker. Cardiac resynchronisation therapy (CRT) devices are sub-divided into cardiac resynchronisation therapy defibrillators (CRT-D) and cardiac resynchronization therapy pacemakers (CRT-P).

The significant applications of the market are bradycardia, tachycardia, and heart failure, among others.

The end-users of the market are hospitals and clinics, ambulatory surgery centres, and homecare settings.

The major players in the industry are Boston Scientific Corporation (BSC), BIOTRONIK SE & Co KG, Medtronic Plc, Stryker Corporation, and MicroPort Scientific Corporation, among others.

Analyst Review

The global cardiac rhythm management devices market attained a value of USD 15.8 billion in 2021, driven by the surging volume of patients suffering from cardiac disorders. Aided by the increasing usage of home care and ambulatory services and rising investment in the development of advanced technological devices, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.00%. The market is projected to reach USD 20.17 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the market is segmented into defibrillators, pacemakers, and cardiac resynchronisation therapy (CRT) devices. Defibrillators are further divided into implantable cardioverter defibrillators (ICDS) and external defibrillators (ED) while pacemakers are sub-divided into single chamber cardiac pacemaker and dual chamber cardiac pacemaker. Cardiac resynchronisation therapy (CRT) devices are sub-divided into cardiac resynchronisation therapy defibrillators (CRT-D) and cardiac resynchronization therapy pacemakers (CRT-P). The significant applications of the market are bradycardia, tachycardia, and heart failure, among others. The end-users of the market are hospitals and clinics, ambulatory surgery centres, and homecare settings. The major regional markets for cardiac rhythm management devices are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Boston Scientific Corporation (BSC), BIOTRONIK SE & Co KG, Medtronic Plc, Stryker Corporation, and MicroPort Scientific Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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