Global Cardiac Rhythm Management Devices Market is poised to grow to USD 31.9 bn by 2030 with a decent CAGR of 6.5%.

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 March 2022, BIOTRONIK launched 'HeartInsight', a Heart Failure (HF) management tool that accurately detects patients in danger of HF decompensation early on.
• In March 2022, Medtronic announced the first patient implant of investigational implantable tibial neuromodulation therapy for bladder incontinence.
• In February 2022, Stryker announced today that it had completed the previously announced acquisition of Vocera Communications, Inc., a leader in digital care coordination and communication.
• In February 2022, Medtronic received FDA expanded approval for cardiac cryoablation catheters to treat a common heart rhythm condition pediatric.
• In February 2022, Baylis Medical Company Inc. was bought by Boston Scientific Corporation. The two companies collaborated on enhanced transseptal access solutions, guidewires, sheaths, and dilators used in catheter-based left-heart surgeries.
• In December 2021, GE Healthcare and Minerva Imaging formed a strategic agreement to accelerate the development of tailored radionuclide therapy (Theranostics). 
• In December 2021, BK Medical, a leader in improved surgical visualisation, was bought by GE.
• In December 2021, Itamar Medical Ltd. (Itamar Medical), an Israeli medical device manufacturer, was bought by ZOLL Medical Corporation (ZOLL), an Asahi Kasei firm.
• In June 2020, Biotronik released His-Bundle Pacing (HBP) Tools, a form of Conduction System Pacing Tool.

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.