Our Report 'Global Cardiac Rhythm Management Devices Market' has been segmented by Product Type (Cardiac Resynchronization Therapy Devices, Defibrillators, and Pacemakers), By End User (Hospitals, Home Care Settings, and Ambulatory Care Settings), and by Region (North America, Europe, Latin America, Asia Pacific, Middle East, and Africa). With a market size of USD 16.29 bn in 2020, the Global Cardiac Rhythm Management Devices Market Size will grow to USD 31.9 bn by 2030 with a CAGR of 6.5%.
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Key Factors that are expediting the Market growth
Increased instances and prevalence of cardiovascular disorders around the world and the development of novel and high-end cardiac rhythm management devices are driving the rise of the Cardiac Rhythm Management Devices Market Share.
A rise in the usage of ambulatory and home cardiac monitoring services and an increase in the prevalence of heart failure are all issues to consider.
By Product, Defibrillators dominated the market in 2021
Defibrillators dominated the market comprehensively with a share of nearly 43.6% due to the high adoption rate worldwide.
THE REGION, NORTH AMERICA, DOMINATED THE CARDIAC RHYTHM MANAGEMENT DEVICES MARKET
By Region, North America has the highest Market share. Due to technological advancements in this region, the ageing population and better healthcare infrastructure contribute to the domination.
However, Asia-Pacific is projected to be the fastest-growing due to its technological advancements and government support.
IMPORTANT MARKET PLAYERS:
Some of the leading players in the field of the Global Cardiac Rhythm Management Devices Market include- Physio-Control, Inc. (Stryker), Schiller, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., Zoll Medical Corporation, BIOTRONIK, Abbott, Progetti Srl, LivaNova Plc.
Recent Developments
In June 2020, Boston Scientific announced the launch of the DIRECTSENSE Technology, a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures. DIRECTSENSE Technology, which received U.S. FDA approval in April, is the only tool to monitor changes in local impedance – electrical resistance – around the tip of the INTELLANAV MiFi Open-Irrigated (OI) ablation catheter. It offers physicians an additional measurement of therapy effect during an ablation.