Global Implantable Cardiac Rhythm Management Market By Product (Pacemaker, ICDs, CRT, Implantable Loop Recorder), End-User (Hospitals, Specialty Cardiac Centers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Implantable Cardiac Rhythm Management Market
Global implantable cardiac rhythm management market is expected to rise to an estimated value of USD 19.86 billion by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to major manufacturers focusing on technological innovations to enhance the battery lives of these products.
Market Definition: Global Implantable Cardiac Rhythm Management Market
Implantable CRM (Cardiac Rhythm Management) are the devices that are implanted/inserted inside the patient to manage and continuously monitor the status of heart of patients, preventing from any life- threatening effects in patients such as failure of cardiac systems. These devices help in temporary pacing of the heart, managing the optimal heart rate till the patient is stabilized and other applications.
- Growing levels of geriatric population globally which are more prone to suffer from cardiac conditions is expected to positively affect the growth of the market
- Changes in lifestyle resulting in greater consumption of alcohol, smoking with reduced physical activity resulting in the population being more prone to cardiac disorders; this factor is expected to positively affect the growth of the market
- Increasing prevalence of encouraging reimbursement scenarios regarding the treatment of cardiac disorders; this factor is expected to foster growth of the market
- Requirement of better replacements after a certain time period with these devices resulting in larger financial costs as well as risks of complications with every procedure; this factor is expected to act as a restraint to the growth of the market
- Presence of strict regulations regarding the approval and commercialization of these products; this factor is expected to hinder the growth of the market
Segmentation: Global Implantable Cardiac Rhythm Management Market
- Implantable Cardioverter-Defibrillators (ICDs)
- Cardiac Resynchronization Therapy (CRT)
- Implantable Loop Recorder
- Specialty Cardiac Centers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2018, MicroPort Scientific Corporation announced that they had completed the acquisition of LivaNova PLC’s “Cardiac Rhythm Management” operations. The business division will be rebranded as “Microport CRM”, operating as a stand-alone establishing the operations as the fifth largest dealing in CRM (Cardiac Rhythm Management) globally.
- In June 2017, Koninklijke Philips N.V. announced that they had agreed to merge with “The Spectranetics Corporation”. This acquisition will further enhance the reputation and capabilities of Philips’ “Image-Guided Therapy” operations. This will also further develop more advanced innovation capabilities at the disposal of Philips as they look to expand their footprint in the healthcare industry.
Global implantable 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 implantable cardiac rhythm management market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global implantable cardiac rhythm management market are Boston Scientific Corporation; Biotronik; Integer Holdings Corporation; Medtronic; Abbott; MicroPort Scientific Corporation; Koninklijke Philips N.V.; ZOLL Medical Corporation; ABIOMED; Berlin Heart; Jarvik Heart, Inc. and NIHON KOHDEN CORPORATION, among others.
Research Methodology: Global Implantable 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 implantable 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)