Cardiac rhythm management includes diagnosis, treatment, and prevention of fast, slow, or irregular heartbeats. Rising prevalence of cardiovascular diseases and growing geriatric population worldwide can boost demand for cardiac rhythm management devices. Technological advancements have enabled development of miniaturized implantable devices, offering improved quality of life to patients. However, high costs of surgical procedures and devices can hamper the market growth. Cardiac rhythm management devices market growth is driven by rising product approvals and expansions in emerging nations.
Market Dynamics:
Global cardiac rhythm management devices market growth is driven by rising prevalence of cardiovascular disorders associated with heart rhythm abnormalities and technological advancements leading to development of sophisticated implantable devices. According to WHO, cardiovascular diseases account for over 17 million deaths annually, a majority of which are caused due to irregular heartbeats. Growing geriatric population also drives the market growth, as aging increases risk of developing arrhythmias. However, high costs of sophisticated implantable devices and surgical procedures to implant them can hamper the market growth. Market players can witness new opportunities by gaining approvals for innovative devices in newer applications and expanding to emerging countries in Asia Pacific, Latin America, and Middle East & Africa through distributor partnerships and JVs.
Key Features of the Study:
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