Overview and Scope
Cardiac rhythm management (CRM) devices and equipment are used to manage the heart rate or rhythm by generating electrical impulses or shocks in order to get the heart back to its normal functions. CRM devices are used to treat and manage arrhythmia-related diseases such as cardiac arrests, heart failure, or cardiac arrhythmias.
Sizing and Forecast
The cardiac rhythm management (crm) devices and equipment market size has grown strongly in recent years. It will grow from <b>$16.63 billion in 2023 to $17.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. </b> The growth in the historic period can be attributed to prevalence of arrhythmias, technological advancements, aging population, chronic disease management.
The cardiac rhythm management (crm) devices and equipment market size is expected to see strong growth in the next few years. It will grow to <b>$23.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. </b> The growth in the forecast period can be attributed to personalized medicine, technological innovations, telehealth integration, global access to healthcare. Major trends in the forecast period include leadless crm devices, biodegradable devices, remote monitoring, combination therapies.
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Segmentation & Regional Insights
The cardiac rhythm management (crm) devices and equipment market covered in this report is segmented –
1) By Product: Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)
2) By Application: Bradycardia, Tachycardia, Heart Failure, Other Applications
3) By End User: Hospitals, Ambulatory surgical centers, Physicians Clinics
Subsegment: CRT-Defibrillators (CRT-D), CRT-Pacemakers (CRT-P), Implantable Cardioverter Defibrillators, External Defibrillator,Implantable Pacemakers, External Pacemakers
<b>North America</b> was the largest region in the global cardiac rhythm management (CRM) devices and equipment market in 2023. <b>Western Europe</b> was the second-largest region in the cardiac rhythm management (CRM) devices and equipment market. The regions covered in the cardiac rhythm management (CRM) devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The rise in the geriatric population is expected to propel the growth of the cardiac rhythm management (CRM) devices and equipment market going forward. The geriatric population refers to people aged 65 and over. With the increase in geriatric population, the incidence of cardiovascular diseases also rises, leading to an increased demand for CRM devices. These devices can help manage heart rhythm disorders, such as arrhythmias, and improve the quality of life for older adults. For instance, according to the Administration for Community Living, a US-based government department, the older population reached 55.8 million in 2020, and it is projected to reach 80.8 million by 2040 and 94.7 million by 2060. Thus, the rise in the geriatric population is driving the growth of the cardiac rhythm management (CRM) devices and equipment market.
Key Industry Players
Major companies operating in the cardiac rhythm management (CRM) devices and equipment market include <b> Abbott Laboratories, Medtronic plc, Biotronik SE & Co KG, Cardiac Science Corporation, Schiller AG, Hill-Rom Holdings Inc., GE Healthcare, Integer Holdings, Neovasc Inc., Philips Healthcare, Stryker Corporation, Rochling Medical, CCC Medical Devices, LivaNova plc, ZOLL Medical Corporation, Koninklijke Philips N.V, Applied Cardiac System, Cook Medical, Abiomed Inc., Berlin Heart GmbH, Brotionik SE and Co. KG, Jarvik Hearth Inc., MicroPort Scientific Corp, ReliantHeart Inc., Shree Pacetronix Ltd., Shaanxi Qinming Medical Instrument Co. Ltd., AtriCure Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Progetti Srl </b>
The cardiac rhythm management (crm) devices and equipment market report table of contents includes:
1. Executive Summary
2. Cardiac Rhythm Management (CRM) Devices And Equipment Market Characteristics
3. Cardiac Rhythm Management (CRM) Devices And Equipment Market Trends And Strategies
4. Cardiac Rhythm Management (CRM) Devices And Equipment Market – Macro Economic Scenario
5. Global Cardiac Rhythm Management (CRM) Devices And Equipment Market Size and Growth
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26. South America Cardiac Rhythm Management (CRM) Devices And Equipment Market
27. Brazil Cardiac Rhythm Management (CRM) Devices And Equipment Market
28. Middle East Cardiac Rhythm Management (CRM) Devices And Equipment Market
29. Africa Cardiac Rhythm Management (CRM) Devices And Equipment Market
30. Cardiac Rhythm Management (CRM) Devices And Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Abbott Laboratories
- Medtronic PLC
- Biotronik SE & Co KG
- Cardiac Science Corporation
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