Global Cardiac Rhythm Management Devices Market - 2025 - 2033

Global Cardiac Rhythm Management Devices Market - 2025 - 2033

The global cardiac rhythm management devices market reached US$ 19.53 billion in 2024 and is expected to reach US$ 32.69 million by 2032, growing at a CAGR of 6.6% during the forecast period 2025-2032.

Cardiac rhythm management devices are specialized medical devices designed to monitor, regulate, and support the functioning of the heart. These devices play a crucial role in managing various heart conditions, particularly arrhythmias, which can lead to serious health complications if left untreated. It is of 3 types: pacemakers, defibrillators, and cardiac resynchronization therapy (CRT) devices.

Pacemakers are devices that deliver electrical impulses to the heart to maintain a regular heartbeat. Defibrillators are devices that provide electric shocks to restore normal heart rhythm in cases of life-threatening arrhythmias. CRT devices help coordinate the contractions of the heart's chambers, improving efficiency in patients with heart failure.

Key players in the industry product launches that would propel this cardiac rhythm management devices market. For instance, in October 2023, Boston Scientific launched the LUX-Dx II+ Insertable Cardiac Monitor (ICM) System, a next-generation device designed for long-term monitoring of arrhythmias associated with conditions such as atrial fibrillation (AF), cryptogenic stroke, and syncope. This innovative system enhances the capabilities of cardiac monitoring and aims to improve patient care through advanced technology. These factors have driven the global cardiac rhythm management devices market expansion.

Market Dynamics: Drivers & Restraints

Rising Prevalence of Cardiovascular Diseases

The demand for the global cardiac rhythm management devices market is driven by multiple factors. The rising prevalence of cardiovascular diseases (CVDs) is a significant driving factor for the global cardiac rhythm management (CRM) devices market. This increase in cases of CVDs leads to a higher demand for effective monitoring and treatment solutions, directly impacting the growth and expansion of the cardiac rhythm management devices market.

According to World Heart Federation data in April 2023, CVDs have been the leading cause of death globally. In 2021, 20.5 million people died from a cardiovascular condition, which accounted for around one-third of all global deaths and was a significant increase from the 12.1 million CVD deaths recorded in 1990. As more individuals are diagnosed with heart-related issues, healthcare providers require effective tools to monitor these patients continuously, leading to an uptick in the adoption of devices like pacemakers, defibrillators, and cardiac resynchronization therapy (CRT) systems.

Furthermore, key players' strategies such as partnerships and collaborations would drive the cardiac rhythm management devices market growth. For instance, in January 2024, Medtronic announced a strategic partnership with Cardiac Design Labs (CDL) to launch and expand access to a novel heart rhythm monitoring technology called Padma Rhythms in India. This collaboration aims to enhance cardiac care by providing comprehensive, long-term heart monitoring through an External Loop Recorder (ELR) patch.

Also, in June 2023, Royal Philips announced a partnership with BIOTRONIK, a prominent medical device company specializing in cardiovascular and endovascular diseases. This collaboration aims to expand the range of cardiovascular devices available for Philips' SymphonySuite customers, enhancing the offerings for outpatient care settings such as office-based labs (OBLs) and ambulatory surgery centers (ASCs). All these factors demand the global cardiac rhythm management devices market.

Moreover, the growing aging population and technological advancements are the factors expected to drive the cardiac rhythm management devices market over the forecast period.

Product recalls

The Product Recalls will hinder the growth of the global cardiac rhythm management devices market. Product recalls in the global cardiac rhythm management devices market, particularly for implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds), are primarily driven by safety concerns related to device malfunctions.

For instance, in July 2023, the U.S. Food and Drug Administration (FDA) announced a Class I recall of Medtronic’s implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds), due to a significant risk associated with these devices.

This malfunction occurs because of inappropriate activation of the short circuit protection feature, which can prevent the device from delivering necessary shocks to correct life-threatening arrhythmias. These recalls can lead to serious health risks for patients who depend on these devices for life-saving therapies.

Thus, the above factors could be limiting the global cardiac rhythm management devices market's potential growth.

Segment Analysis

The global cardiac rhythm management devices market is segmented based on product type, application, end-user, and region.

Product Type:

The cardiac resynchronization therapy (CRT) devices segment is expected to dominate the global cardiac rhythm management devices market share

The cardiac resynchronization therapy (CRT) devices segment holds a major portion of the global cardiac rhythm management devices market share and is expected to continue to hold a significant portion of the global cardiac rhythm management devices market share during the forecast period.

The cardiac resynchronization therapy (CRT) devices segment is expected to hold the largest market share over the forecast period. A CRT device is designed to deliver the issue by sending small electrical impulses to both ventricles. These impulses help the ventricles beat together in a more synchronized pattern, coordinated movement of the fingers and thumb as they flex and curl inward together to form a fist. This synchronization enhances the heart's ability to pump blood more effectively, improving overall cardiac output and ensuring that oxygen and nutrients are delivered efficiently throughout the body.

Cardiac resynchronization therapy (CRT) devices are essential components of the global cardiac rhythm management devices market, particularly in managing heart failure and certain arrhythmias. These devices improve heart contractions, which is crucial for effective cardiac function. The CRT segment is experiencing significant growth owing to multiple factors, including the increasing prevalence of cardiovascular diseases, advancements in technology, and a growing geriatric population.

Furthermore, key players in the industry product launches that would propel this segment's growth in the cardiac rhythm management devices market. For instance, in April 2024, MicroPort CRM launched two new ranges of devices in Europe TALENTIA and ENERGYA. These products include Implantable Cardiac Defibrillators (ICDs) and Cardiac Resynchronization Therapy and Defibrillation devices (CRT-Ds), both featuring advanced Bluetooth connectivity. The integration of Bluetooth technology allows for wireless communication between the devices and healthcare providers. This facilitates tablet-based programming and remote monitoring, improving patient management and follow-up care.

Also, in February 2024, MicroPort CRM announced the launch of two significant products in Japan the GALI SonR Cardiac Resynchronization Therapy and Defibrillation device (CRT-D) and the NAVIGO 4LV left ventricular pacing leads. This launch marks an important advancement in cardiac care technology aimed at improving patient outcomes for individuals with heart rhythm disorders. These factors have solidified the segment's position in the global cardiac rhythm management devices market.

Geographical Analysis

North America is expected to hold a significant position in the global cardiac rhythm management devices market share

The rising incidence of cardiovascular diseases (CVDs), including heart failure, arrhythmias, and coronary artery disease, is a significant driver for the cardiac rhythm management devices market. According to CDC data in October 2024, heart disease is indeed the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. One person dies every 33 seconds from cardiovascular disease. In 2022, 702,880 people died from heart disease. All these factors demand cardiac rhythm management devices.

The increasing burden of cardiovascular diseases (CVDs) is significantly influenced by lifestyle factors such as sedentary behavior, unhealthy dietary habits, and an aging population. As healthcare providers seek advanced technologies to manage these conditions effectively, the cardiac rhythm management (CRM) devices market is poised for substantial growth.

Moreover, in this region, a major number of key players’ presence, well-advanced healthcare infrastructure, government initiatives & regulatory support, technological advancements, & investments, and product launches & approvals would propel the cardiac rhythm management devices market growth. For instance, in May 2023, Abbott announced that its Assert-IQ insertable cardiac monitor (ICM) has received clearance from the U.S. Food and Drug Administration (FDA). This new device provides physicians with a robust option for the diagnostic evaluation and long-term monitoring of patients experiencing irregular heartbeats.

Also, in July 2023, Abbott announced that the U.S. Food and Drug Administration (FDA) approved the AVEIR dual chamber (DR) leadless pacemaker system. This innovative device is the world's first dual-chamber leadless pacing system, specifically designed to treat patients with abnormal or slow heart rhythms. Thus, the above factors are expected to drive the cardiac rhythm management (CRM) devices market in the region. Thus, the above factors are consolidating the region's position as a dominant force in the global cardiac rhythm management devices market.

Asia Pacific holds the fastest pace in the global cardiac rhythm management devices market and is expected to hold most of the market share.

The prevalence of cardiovascular conditions, such as arrhythmias and heart failure, is rising in the Asia-Pacific region. This increase is largely attributed to lifestyle changes, urbanization, and an aging population, which collectively heighten the demand for effective cardiac rhythm management solutions. As more individuals are diagnosed with these conditions, the need for advanced devices becomes critical.

The aging demographic in Asia-Pacific countries is particularly susceptible to heart-related issues. As this population segment expands, so does the demand for cardiac devices. Older adults are more likely to experience slow heart rhythms and other cardiovascular diseases, leading to increased healthcare needs and a corresponding rise in device utilization.

Innovations in cardiac device technology, such as leadless pacemakers and remote monitoring systems, are enhancing treatment options and improving patient outcomes. These advancements not only make procedures less invasive but also streamline care delivery, making it more efficient and accessible for patients. Many Asia-Pacific countries are investing significantly in healthcare infrastructure, which facilitates better access to advanced medical technologies. Nations like China and India are expanding their healthcare facilities and services, enabling timely treatment for patients and supporting the adoption of cardiac rhythm management devices.

Furthermore, key players in the region product launches that would drive this global cardiac rhythm management devices market growth. For instance, in November 2024, Abbott launched the AVEIR VR leadless pacemaker in India, specifically designed for patients experiencing slow heart rhythms. This innovative device has received approval from both the Central Drugs Standard Control Organisation (CDSCO) in India and the U.S. Food and Drug Administration (FDA), marking a significant advancement in cardiac care. Thus, the above factors are consolidating the region's position as the fastest-growing force in the global cardiac rhythm management devices market.

Competitive Landscape

The major global players in the cardiac rhythm management devices market include Medtronic, Abbott, Boston Scientific Corporation, Biotronik, Koninklijke Philips N.V., Schiller AG, ZOLL Medical Corporation, Physio-Control, Inc. (Stryker), Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and GE HealthCare among others.

Key Developments
• In March 2024, Abbott received CE mark approval in Europe for its Assert-IQ insertable cardiac monitor (ICM), which is designed for long-term remote monitoring of patients' heart rhythms for up to six years. This device represents a significant advancement in cardiac care technology, enabling healthcare providers to effectively manage patients experiencing irregular heartbeats, including challenging cases such as atrial fibrillation (AF).
• In October 2023, MicroPort CRM announced the launch of the ULYS Implantable Cardioverter Defibrillator (ICD) and INVICTA defibrillation lead in Japan. This introduction highlights MicroPort's commitment to advancing cardiac care technology and expanding its product offerings in the global market.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
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• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
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• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global cardiac rhythm management devices market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023
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