The implantable cardiac rhythm management device market size is expected to see strong growth in the next few years. It will grow to $21.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to shift towards leadless devices, remote patient monitoring, focus on heart failure management, increased adoption in emerging markets, collaborations for research and development. Major trends in the forecast period include emergence of bioresorbable technologies, integration of artificial intelligence (ai), advancements in technology, remote monitoring and telemedicine integration, advancements in leadless pacemakers, wireless charging and power management.
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Segmentation & Regional Insights
The implantable cardiac rhythm management device market covered in this report is segmented –
1) By Device: Cardiac Resynchronization Therapy, Defibrillators, Pacemakers
2) By Application: Bradycardia, Tachycardia, Other Applications
3) By End-Use: Hospitals, Specialty Cardiac Centers, Other End-Uses
North America was the largest region in the implantable cardiac rhythm management device market in 2023. The regions covered in the implantable cardiac rhythm management device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of cardiac disorders is expected to boost the growth of the implantable cardiac rhythm management devices market going forward. Cardiac disorder refers to a type of condition that affects the heart or blood vessels. Implantable cardiac rhythm management devices are used to help patients with heart failure and reduced left ventricular function to improve systolic function by resynchronizing the heart contraction and restoring normal heart rhythm in the event of life-threatening rapid ventricular arrhythmias. Hence, the increasing prevalence of cardiac disorders will boost the demand for implantable cardiac rhythm management devices. For instance, according to the Centers for Disease Control and Prevention, a US-based non-profit organization, in 2021 approximately 695,000 individuals in the United States died from heart diseases. Additionally, in 2021, coronary heart disease, the most prevalent form of heart disease, resulted in the demise of 375,476 individuals. Therefore, the increasing prevalence of cardiac disorders is driving the growth of the implantable cardiac rhythm management devices market.
Key Industry Players
Major companies operating in the implantable cardiac rhythm management device market report are Stryker Corporation, Schiller AG, Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Koninklijke Philips N.V., Zoll Medical Corporation, Biotronik Ltd., MicroPort Scientific Corporation, Abiomed Inc, Hydrix Limited, Nihon Kohden Corporation, Japan Lifeline Co. Ltd., Lepu Medical Technology Co. Ltd., LivaNova PLC, Shenzhen Mindray Biomedical Electronics Co. Ltd, Progetti Srl, Edwards Lifesciences Corporation, Cardiac Science Corporation, Sorin Group S.p.A., St. Jude Medical LLC, Osprey Medical Inc., Bardy Diagnostics Inc., VivaLNK Inc., NanoMatriX International Limited, Beijing Demax Medical Technology Co. Ltd, iRhythm Technologies Inc., Impulse Dynamics plc., SentiAR Inc., VytronUS Inc.
The implantable cardiac rhythm management device market report table of contents includes:
1. Executive Summary
2. Implantable Cardiac Rhythm Management Device Market Characteristics
3. Implantable Cardiac Rhythm Management Device Market Trends And Strategies
4. Implantable Cardiac Rhythm Management Device Market – Macro Economic Scenario
5. Global Implantable Cardiac Rhythm Management Device Market Size and Growth
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31. Global Implantable Cardiac Rhythm Management Device Market Competitive Benchmarking
32. Global Implantable Cardiac Rhythm Management Device Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Implantable Cardiac Rhythm Management Device Market
34. Implantable Cardiac Rhythm Management Device Market Future Outlook and Potential Analysis
35. Appendix
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