Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Cardiac Rhythm Management Devices Market Size, Share & Trends Analysis Report by Product (Pacemaker, Defibrillators, CRT Devices), by Region (North America, Europe, APAC, Latin America, MEA), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global cardiac rhythm management devices market size is anticipated to reach USD 29.9 billion by 2028 and is expected to expand at a CAGR of 7.4% from 2021 to 2028.
The market has shown constant growth in the adoption of cardiac rhythm management (CRM) devices owing to the increasing prevalence of cardiovascular disorders. According to the CDC, as of September 2020, approximately 655,000 Americans die suffering from heart disease every year.
The market was negatively impacted during the COVID-19 pandemic, as elective procedures, including the non-essential cardiovascular procedures, were postponed or canceled during the pandemic. Major players in the market, such as Medtronic, Abbott, and Boston Scientific Corporation, incurred huge losses in their cardiac rhythm management business segments globally. This resulted in negative growth of the market in 2020.
Revolutionary technological progress is rapidly transforming the market. These expansions are producing lucrative potentials. An increase in R&D expenditure and new product launches by leading firms is driving the market.
For instance, in October 2020, Abbott launched its new ICD and CRT-D in India, to expand its product portfolio in the country. The company had also received CE Mark approval for its Gallant ICD and CRT-D devices in February 2020. Some of the major market players account for a significant share of the market owing to their extensive product offerings.
Cardiac Rhythm Management Devices Market Report Highlights
- The defibrillator segment held the largest revenue share in 2020 owing to high acceptance of the device, globally
- The ICD segment dominated the defibrillators segment in 2020 and accounted for more than 60.0% of the revenue share, owing to its better patient outcome
- In the external defibrillator segment, the automatic external defibrillator segment held the highest revenue share in 2020 owing to associated benefits, including pacing, i.e., delivering pulses of the current to stimulate heart contraction as well as cardioversion, converting arrhythmia or tachycardia to a normal heartbeat
- In 2020, North America held the dominant revenue share of the market owing to the rising prevalence of cardiovascular diseases and high adoption of CRM devices
- Asia Pacific is expected to show lucrative growth over the forecast period owing to the presence of emerging countries such as China and India
Key Topics Covered:
Chapter 1 Research Methodology & Scope
1.1 Market Segmentation & Scope
1.2 Research Methodology
1.3 Information Procurement
1.4 Information or Data Analysis
1.5 Market Formulation & Validation
1.6 Model Details
Chapter 2 Executive Summary
2.1 Market Outlook
2.1.1 Cardiac rhythm management devices market outlook, 2016 - 2028 (USD Million)
2.2 Segment Outlook
Chapter 3 Cardiac Rhythm Management Devices Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Analysis
3.1.2 Ancillary Market Analysis
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Framework
3.3.1 List of Regulatory Bodies
3.4 Cardiac rhythm management devices Market Dynamics
3.5 Cardiac rhythm management devices Market Analysis Tools: Porters
3.6 SWOT By PEST Analysis
3.7 Major Deals & Strategic Alliances Analysis
Chapter 4 Cardiac Rhythm Management Devices Market: Competitive Analysis
4.1 Market Participation Categorization
4.2 Public Companies
4.2.1 Company Market Position Analysis
4.2.2 Competitive Dashboard Analysis
4.3 Private Companies
4.3.1 List of Key Emerging Companies
Chapter 5 Impact of COVID-19
5.1 COVID-19 Impact Analysis
5.2 Impact on Market Players
Chapter 6 Cardiac Rhythm Management Devices Market: Product Estimates & Trend Analysis
6.1 Definition and Scope
6.2 Product Type Market Share Analysis, 2020 & 2028
6.3 Global CRM Devices Market, by Product, 2016 to 2028
6.4 Market Size & Forecasts and Trend Analysis, 2016 to 2028
6.4.1 Pacemaker
6.4.1.1 Pacemaker, 2016 - 2028 (USD Million)
6.4.1.2 Implantable PACEMAKER
6.4.1.3 External Pacemaker
6.4.2 Defibrillators
6.4.2.1 Defibrillators, 2016 - 2028 (USD Million)
6.4.2.2 ICDs
6.4.2.2.1 ICDs, 2016 - 2028 (USD Million)
6.4.2.2.2 S-ICDs
6.4.2.2.3 T-ICD
6.4.2.3 External Defibrillators
6.4.2.3.1 External Defibrillators, 2016 - 2028 (USD Million)
6.4.2.3.2 Manual External Defibrillators
6.4.2.3.3 Automatic External Defibrillators (AED)
6.4.2.3.4 Wearable Cardioverter Defibrillators (WCD)
6.4.3 CRT
6.4.3.1 CRT, 2016 - 2028 (USD Million)
6.4.3.2 CRT pacemaker
6.4.3.3 CRT- Defibrillators
Chapter 7 Cardiac Rhythm Management Devices Market: Regional Estimates & Trend Analysis, by Product
7.1 Definition & Scope
7.2 Regional Market Snapshot
7.3 Market Size, & Forecasts, Volume and Trend Analysis, 2020 to 2028
Chapter 8 Company Profiles
- Physio-Control, Inc. (Stryker)
- Schiller
- Medtronic
- Abbott
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Zoll Medical Corporation
- BIOTRONIK
- Progetti Srl
For more information about this report visit https://www.researchandmarkets.com/r/2udff8