Global Cardiac Rhythm Management Market By Product Type (Defibrillators, Pacemakers, Cardiac Resynchronization Therapy Devices), By End User (Home, Ambulatory Care, Hospitals, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Cardiac Rhythm Management Market
Global cardiac rhythm management market is registering a substantial CAGR in the forecast period of 2019-2026. This rise in the market can be attributed to the growing cardiovascular diseases all over the globe and increasing aging population.
Market Definition: Global Cardiac Rhythm Management Market
Management of cardiac rhythm relates to a method of tracking heart function through machines. Management instruments for cardiac rhythm are used to provide therapeutic alternatives for patients with cardiac illnesses such as heart arrests, heart failure, and cardiac arrhythmias, Cardiac disorders lead to irregular heartbeat. Two significant devices are used to manage cardiovascular rhythms: implantable cardiac rhythm devices and cardiac pacemakers.
- Growing cardiovascular diseases all over the globe is driving the growth of the market
- Rising aging population is helping to grow the market
- Rising awareness among people drives the growth of the market
- Regular advancement in technology is also helping the market to grow
- Lack of awareness and information about Sudden Cardiac Arrest (SCA) hinders the market growth
- Lack of skilled professionals are restraining the market growth
- Reimbursement issues restricts the market growth
Segmentation: Global Cardiac Rhythm Management Market
By Product Type
- Implantable Cardioverter Defibrillators (ICDS)
- External Defibrillators
- Manual External Defibrillators (MEDS)
- Automated External Defibrillators (AEDS)
- Implantable Cardiac Pacemaker
- External Cardiac Pacemaker
- Traditional Pacemakers
- Remote Pacemakers
- Cardiac Resynchronization Therapy Devices
- Cardiac Resynchronization Therapy Defibrillators (CRT-D)
- Cardiac Resynchronization Therapy Pacemakers (CRT-P)
By End User
- Ambulatory Care
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In July 2019, Biotronik introduces next generation injectable cardiac monitor, Biomonitor III. Biomonitor III is smaller than Biomonitor II size, while providing a much higher quality of the signal. This creative device was designed to assist patients with abnormal heart rhythms by monitoring with enhanced clarity suspected arrhythmia or unexplained syncopes.
- In May 2019, Abbott introduced next-generation detection technology with the approval of the U.S. FDA and with C.E. mark in Europe. It is a paper clip-sized electromechanical device that connects with smartphone with ongoing remote monitoring for quick and precise diagnosis to monitor unpredictable heart rhythm issues. This device will help the people at risk with irregular heartbeat.
Global cardiac rhythm management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cardiac rhythm management market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the Global cardiac rhythm management market are Medtronic, Abbott, Boston Scientific Corporation, General Electric, Koninklijke Philips N.V., Biotronik, ZOLL Medical Corporation, Cardiac Science Corporation, LivaNova PLC, Hill-Rom Services Inc., SCHILLER, Applied Cardiac Systems, Inc., Welch Allyn, Cook, Röchling, Stryker, Neovasc Inc., Integer Holdings Corporation, Medical Product Guide, Guidant Global, 3M and Mentice among others.
Research Methodology: Global Cardiac Rhythm Management Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global cardiac rhythm management market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)