Cardiac Rhythm Management (CRM) Devices Market Will Reach Height of USD 32.4 billion By 2024

The global cardiac rhythm management (CRM) devices market size is projected to reach at USD 32.4 billion by 2025. The CRM devices market is subject to witness substantial growth due to numerous awareness programs and schemes by regional governments in emerging and developed economies. Growing occurrence of cardiovascular diseases (CVDs), supportive legislative policies, and critical advancements in technology are attributing to the progress of the market in forecast period. Though, initial cost associated with implementation of cardiac rhythm management (CRM) devices and lack of awareness in rural parts across the globe are limiting the market expansion of cardiac rhythm management (CRM) devices market. The CRM devices market is expected to grow at a 7.5% CAGR during the forecast period.

Cardiac rhythm management (CRM) devices are considered as most viable option for the treatment for the patients suffering through diseases like arrhythmias. The recent advancement in cardiac resynchronization therapies (CRTs) and devices are driving the market growth. Alongside, the rising use of the implantable cardioverter-defibrillators (ICDs) and its applications alongside their integration with pacemakers in order to improve the product’s life cycle are playing crucial part for treatment of heart diseases. The progress of the cardiac rhythm management (CRM) devices industry is also attributed to the factors such as need for external defibrillators due to growing awareness of its use and increasing occurrence of diseases related to the sudden cardiac arrest (SCA).

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Cardiac rhythm management (CRM) is a procedure that involves the treatment of arrhythmias (heart rhythm disorders). Arrhythmias are responsible for causing number of problems for patients, such as palpitations, anxiety and dizziness, that may lead to blackouts and cardiac arrest as well. The cardiac rhythm management (CRM) term is loosely based on treatments involving implanted electronic devices similar to pacemakers and defibrillators. Cardiac rhythm management (CRM) devices are mainly classified into three common types such as pacemakers, implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy (CRT). Pacemakers are used for the treatment of slow heart rates or attacks in dire situation where heart stop functioning, leading to dizziness, blackouts, or even death. They provide small amount of electrical impulses that may trigger the heartbeat.

The other type of cardiac rhythm management (CRM) devices such as implantable cardioverter defibrillator (ICD) is implemented in case of sudden cardiac arrests because of the faster or chaotic beating in the central pumping chamber i.e. ventricular tachycardia. In such scenarios, implantable cardioverter defibrillator (ICD) creates a shockwave in order to restore the normal heart rhythm, the shock is created automatically within seconds. The use of cardiac resynchronization therapy (CRT) devices allows proper functioning of poorly coordinated ventricles such as central pumping chambers that can lead to heart failure. CRT devices are responsible for pacing the left ventricle involving central pumping chamber from both side of the ventricles. This provides relaxation for patients from symptoms and boosts their morality.

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The use of ICDs and CRT devices offers immediate and long-term solution in comparison with the bradycardia pacemakers. Implanting both CRT and ICD devices on patients is vital for successful treatment. The applications of these devices aids to amplify the health outcomes and ensures welfare for patients by designing devices to carry out the highly efficient therapy, at times evaluating and reducing system complications while utilizing precise device diagnostic data for successful treatment.

The market is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise adoption of latest technologies in healthcare sector and existence well-established healthcare infrastructure. Asia-Pacific market is predicted to hold higher share in the cardiac rhythm management (CRM) devices market with massive growth in forecast period.

Countries such as India, China and Singapore are leading the Asia-Pacific market with growing penetration of health insurance in emerging economies and generating substantial investment by multinational market players due to potential opportunities in the region. The key players in the cardiac rhythm management (CRM) devices industry are Medtronic Ltd., BIOTRONIK Incorporations, Boston Scientific Co., St. Jude Medical Co., ZOLL Medical Co., and Philips N.V.

Author: Steve

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