Implantable Cardiac Rhythm Management Device Market Size, Share, Growth, Sales, Trade, Shipment, Export Value And Volume With Sales And Pricing Forecast By 2028

Global Implantable Cardiac Rhythm Management Device Market - Snapshot

The global implantable cardiac rhythm management device market is driven by several factors, including rising prevalence of various cardiovascular disorders as well as the increasing pool of geriatric population suffering from various chronic cardiac conditions. According to a report published in 2017 by the Center for Diseases Control and Prevention, the chief cause of mortality in the United States is the cardiovascular diseases. The report also stated that ischemic heart disease as well as stroke are two of the leading causes in cardiovascular disorder related deaths. This trend is creating an increased demand for technologically enhanced and superior products in the global implantable cardiac rhythm management device market.

Products in the global implantable cardiac rhythm management device market can be used in treatment of wide range of cardiac conditions, including arrhythmia, tachycardia, and bradycardia, among others. These devices in the global implantable cardiac rhythm management device market are implanted inside the patient in order to monitor and diagnose their heart health. These products in the global implantable cardiac rhythm management device market also detect life threatening cardiac problems and suggest suitable treatment solutions accordingly. Increasing adoption of home services and patient monitored medical devices is also aiding in the expansion of the global implantable cardiac rhythm management device market in the next few years.

Advancements in medical technologies including introduction of leadless pacemakers as well as MRI friendly cardiac monitoring and management devices are fueling growth in the global implantable cardiac rhythm management device market. Moreover, presence of supportive reimbursement policies in various developed economies around the world, such as the Medicare system in the United States, is also positively influencing the demand dynamics in the global implantable cardiac rhythm management device market.

Global Implantable Cardiac Rhythm Management Device Market: Overview 

Implantable device is implanted into heart tissue that detects unusual heart rhythm and delivers shock to retrieve the normal heart beat. The global implantable cardiac rhythm management device market is expected to grow at healthy pace during the forecast period. 

Rising number of cardiac disorder is expected to drive the growth in the global implantable cardiac rhythm management device market. 

TMR Research (TMR) report shares some pertinent insights on shares, size, trends, and overall analysis of the global implantable cardiac rhythm management device market. 

Global Implantable Cardiac Rhythm Management Device Market: Key Developments 

Some of the latest key developments in the global implantable cardiac rhythm management device market are: 

• In May 2019, Heart Rhythm Society at its 40th Annual Scientific Sessions unveiled its newly developed novel infection risk score in implantable cardiac rhythm management device. 

• In April 2019, Biotronik announced its new commercial launch of the Acticor device. It is a new cardioverter defibrillators and cardiac resynchronization therapy defibrillators. These devices provide good life quality to patients. 

• In May 2018, Medtronic Plc announced that the new study of AdaptiveCRT algorithm reveals improved survival rate of patients. The data were presented at Heart Rhythm Society at its 39th Annual Session. 

Some of the most prominent competitors operating in the competitive landscape of global implantable cardiac rhythm management device market include –

• Biotronik
• Jude/Abbott
• Medtronic

Medtronic has strong hold in the European region. These companies are focused on research and development to provide improved medical care to the patients. 

Global Implantable Cardiac Rhythm Management Device Market: Drivers and Restraints 

Some of the factors that add to the growth opportunities are as follows. 

Growing Geriatric Population to Boost Growth: 

The rising number of old population with heart conditions is expected to bolster the demand for such devices and management of patients’ conditions. Thus, leading to the growth of the global  

Alternatively, high prevalence of cardiac diseases across all ages is projected to fuel the growth in the global implantable cardiac rhythm management device market. 

Technologically Advanced Implants to Strengthen Market 

With increasing research and development and improved medical infrastructure there has been emergence of technologically improved devices that provide better care to the patients. Devices such as MRI friendly, Pacemakers without lead are expected to create the demand for such devices, owing to the expansion of the global implantable cardiac rhythm management device market in the future. 

Moreover, increasing support from government for extensive research and development is projected to fuel the growth in the global implantable cardiac rhythm management device market in the future. 

In terms of end users, the global implantable cardiac rhythm management device market is divided into specialty care, clinics, and hospitals. However, the hospital segment is expected to propel the global implantable cardiac rhythm management device market in the future. This is mainly due to availability of all the facilities under one roof and medical reimbursement facilities. 

Global Implantable Cardiac Rhythm Management Device Market: Regional Outlook 

The global implantable cardiac rhythm management device market is spread across five main regions namely, North America, South America, Europe, Asia Pacific, and Middle East and Africa. But, North America is projected to lead the market due to availability of technologically advanced devices, approvals from regulatory authorities and medical reimbursements.