Global Cardiac Rhythm Management Devices Market Size study, by Product (Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)), and Regional Forecasts 2022-2032

Global Cardiac Rhythm Management Devices Market Size study, by Product (Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)), and Regional Forecasts 2022-2032

Global Cardiac Rhythm Management Devices Market is valued approximately at USD 18.57 billion in 2023 and is anticipated to grow with a growth rate of more than 6.9% over the forecast period 2024-2032. Cardiac rhythm management (CRM) devices are advanced medical tools designed for monitoring and regulating the electrical activity of the heart. They are employed in patients grappling with heart rhythm irregularities such as arrhythmias, bradycardia, and tachycardia. The range of CRM devices encompasses implanted cardioverter defibrillators (ICDs), pivotal in addressing life-threatening arrhythmias; pacemakers, which uphold a regular heart rate through electrical impulses; and cardiac resynchronization therapy (CRT) devices, aiding heart failure patients in enhancing cardiac performance. These sophisticated devices play a crucial role in enhancing patients' quality of life and effectively managing cardiac conditions. The increasing adoption of remote monitoring and telemedicine solutions is a key trend supporting the growth of the Global Cardiac Rhythm Management Devices Market. The trend is spurred by technological advances enabling remote, real-time monitoring of cardiac device data such as pacemakers and ICDs. This capability allows healthcare providers to efficiently track patients' cardiac health, detect issues early and intervene promptly, resulting in better outcomes and lower healthcare expenses.

The growth of the Global Cardiac Rhythm Management Devices Market is anticipated to surge significantly due to rising development in healthcare infrastructure, supportive government initiatives, favorable reimbursement policies and regulations promoting the use of advanced medical devices in cardiac care are stimulating market growth globally. Also, Cardiovascular diseases are increasingly becoming prevalent globally due to lifestyle changes, obesity, and other risk factors, fueling the need for cardiac rhythm management devices. According to the World Health Organization (WHO) data updated in June 2021, nearly 33.5 million people globally are suffering from atrial fibrillation (AFib), which is the most common type of serious arrhythmia. Moreover, the British Heart Foundation's Report titled 'UK Factsheet' published in July 2021, reports that 7.6 million people in the United Kingdom live with heart and circulatory diseases. Further, according to the 2022 American Heart Association (AHA) report, approximately, 244.1 million people were living with ischemic heart disease (IHD) around the world, and North Africa and the Middle East, Central and South Asia, and Eastern Europe had the highest prevalence rates of IHD in the world in 2020. Also, there is growing awareness regarding cardiac rhythm management devices is supporting the market expansion during the estimated period of 2024-2032. However, stringent regulatory approvals and side effects of therapeutic radiation on implantable cardiac rhythm devices is expected to hinder the global Cardiac Rhythm Management Devices market growth between 2022 and 2032.

The key regions considered for the global Cardiac Rhythm Management Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America is recorded with dominating position in the Cardiac Rhythm Management Devices Market with the highest number of market share and is projected to sustain its leading position throughout the forecast period. Key factors such as the presence of well-established healthcare infrastructure, government support, and the increasing prevalence of cardiovascular diseases necessitating greater use of cardiac implants. Factors such as elevated rates of obesity, smoking, and unhealthy lifestyles contribute to a higher risk of heart-related ailments like heart attacks, further boosting the demand for cardiac rhythm management devices in the region. Additionally, the rigorous enforcement of government regulations regarding the installation of external defibrillators in public areas is expected to drive higher adoption rates of these devices leading to a subsequent market boost for external defibrillators, which is contributing to the regional market growth. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period owing to the

Major market player included in this report are:
Physio-Control, Inc.
BIOTRONIK SE & Co. KG
Schiller AG
Medtronic PLC
Abbott Laboratories
Koninklijke Philips N.V.
Zoll Medical Corporation
Boston Scientific Corporation
Progetti Srl
LivaNova Plc

The detailed segments and sub-segment of the market are explained below:

By Product
Pacemakers
Defibrillators
Cardiac Resynchronization Therapy (CRT))


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.



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