CRM (Cardiac Rhythm Management) Devices Market Report 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global CRM (Cardiac Rhythm Management) Devices Market


The global cardiac rhythm management (CRM) devices market size was estimated at USD 16.9 billion in 2016, which is anticipated to expand at a CAGR of more than 7.5% during the forecast period. Increasing instances of heart failure and other cardiac disorders and rising sedentary lifestyle among the population are estimated to boost market growth through 2025. Technological advancements in products and product delivery is also a key trend observed in the market.
According to the Hippocratic Post, every week 12 people, between the age group of 35 and below, die from an undiagnosed heart disorder in U.K. Most of these cases occur in children and young adults in sports arenas. According to Close the Gap organization, a young athlete dies in U.S. every three days, 90.0% of whom are males. Thus, demand for CRM devices in sports arenas, schools, and gyms is likely to increase over the forecast period.
 
Technological advancements in implantable devices include launch of MRI safe S-ICD by Boston Scientific Corporation in 2016. This device is preferred over T-ICDs as it is inserted only in the subcutaneous layer of the skin and does not touch the heart. This helps in reducing several risks associated with the device. Medtronic was the first to launch an MRI-safe CRT-D, which obtained FDA approval in 2016.
Technological innovations in product delivery include the Swedish Transport Agency’s program ­under testing phase, which is expected to deliver AEDs using a drone. This may reduce delivery time of an AED, increasing chances of survival by providing faster treatment. Therefore, the CRM devices market is anticipated to witness strong growth with technological advancements and product innovation.
People above 60 years of age form the target demographic segment for these devices as this population subset is more prone to developing chronic disorders such as CVDs. Advanced therapeutics, including CRM devices, increase the lifespan of this demographic and improve quality of life for those suffering from heart conditions. Thus, increasing geriatric population is also a vital driver for the market. 

Market Segmentation, Outlook & Viewpoint: Global CRM (Cardiac Rhythm Management) Devices Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Pacemakers

Implantable Pacemakers

External Pacemakers


Defibrillators

Implantable Cardioverter Defibrillators (ICDs)

Subcutaneous ICD (S-ICD)

Transvenous ICD (T-ICD)


External Defibrillator (ED)

Manual ED

Automated ED (AED)

Wearable Cardioverter Defibrillator



Cardiac Resynchronization Therapy (CRT)

CRT-Defibrillators (CRT-D)

CRT-Pacemakers (CRT-P)



Key Players, Recent Developments & Regional Insights: Global CRM (Cardiac Rhythm Management) Devices Market


The CRM devices market, on the basis of product, is segmented into pacemakers, defibrillators, and Cardiac Resynchronization Therapy (CRT). Defibrillators held the majority share in 2016 and are anticipated to retain their lead throughout the forecast period. Increasing awareness about need for Automated External Defibrillators (AEDs) is anticipated to boost demand. Additionally, technological advancements in implantable devices is anticipated to boost market growth.
The second largest market in terms of revenue is estimated to be pacemakers. The segment is further bifurcated into implantable and external pacemakers. Implantable pacemakers held the largest market share as of 2016. This is attributed to minimal complications associated with these devices as they possess multiple leads and restore normal functioning of the heart.
The CRT segment has been fragmented into CRT Defibrillator (CRT-D) and CRT Pacemaker (CRT-P).As of 2016, CRT-D dominated the market owing to their pacing activity and ability to timely report adverse conditions, thereby reducing death rate. Nonetheless, key players are working toward further improvement.For instance, in 2015, LivaNova launched a new generation of CRT products under the brand PLATINUM. According to the company, these products are expected to provide enhanced longevity of over 10 years.

Regional Insights
North America held the largest share in the cardiac rhythm management devices market as of 2016 and is anticipated to hold its dominance over the forecast period. Favorable reimbursement schemes, developed healthcare infrastructure, higher healthcare expenditure, and greater awareness among the population are some of the factors supporting market growth.
 
However, Asia Pacific is anticipated to be the fastest growing regional market with a CAGR of over 8.9% over the forecast period. This may be attributed to increasing penetration of health insurance in developing countries such as India and China. Additionally, recently introduced economic reforms in China to promote a well-balanced and open economy is likely to shape the global market and generate more investment opportunities for multinational players in this region.
CRM Devices Market Share Insights
Some of the key players operating in this space are Medtronic; BIOTRONIK, Inc.; Boston Scientific Corporation; St. Jude Medical; ZOLL Medical Corporation; Koninklijke Philips N.V.; LivaNova; and Schriller AG
Geographical expansion, collaboration, mergers and acquisitions, competitive pricing, and new product development are some of the key undertakings of players in the cardiac rhythm management devices market. For Instance, in July 2016, St. Jude Medical received the U.S. FDA approval for SyncAV, a CRT software compatible with the company’s multiPoint pacing technology. The software was approved in the European market in June 2016.

Key Insights Covered: Global CRM (Cardiac Rhythm Management) Devices Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of CRM (Cardiac Rhythm Management) Devices industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of CRM (Cardiac Rhythm Management) Devices industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of CRM (Cardiac Rhythm Management) Devices industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of CRM (Cardiac Rhythm Management) Devices industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of CRM (Cardiac Rhythm Management) Devices industry.

Research Methodology: Global CRM (Cardiac Rhythm Management) Devices Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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