Global Implantable Cardiac Rhythm Management Market to be Worth $ 19.86 billion

Posted by kelvindbmr on October 23rd, 2019

Global implantable cardiac rhythm management market is expected to rise to an estimated value of USD 19.86 billion by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to major manufacturers focusing on technological innovations to enhance the battery lives of these products.

Key Market Competitors:

Few of the major competitors currently working in the global implantable cardiac rhythm management market are Boston Scientific Corporation; Biotronik; Integer Holdings Corporation; Medtronic; Abbott; MicroPort Scientific Corporation; Koninklijke Philips N.V.; ZOLL Medical Corporation; ABIOMED; Berlin Heart; Jarvik Heart, Inc. and NIHON KOHDEN CORPORATION, among others.

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Implantable CRM (Cardiac Rhythm Management) are the devices that are implanted/inserted inside the patient to manage and continuously monitor the status of heart of patients, preventing from any life- threatening effects in patients such as failure of cardiac systems. These devices help in temporary pacing of the heart, managing the optimal heart rate till the patient is stabilized and other applications.

Competitive Analysis:

Global implantable cardiac rhythm management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of implantable cardiac rhythm management market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Segmentation: Global Implantable Cardiac Rhythm Management Market

•          By Product (Pacemaker, ICDs, CRT, Implantable Loop Recorder)
•          By End-User (Hospitals, Specialty Cardiac Centers, Others)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers

•          Growing levels of geriatric population globally which are more prone to suffer from cardiac conditions is expected to positively affect the growth of the market
•          Changes in lifestyle resulting in greater consumption of alcohol, smoking with reduced physical activity resulting in the population being more prone to cardiac disorders; this factor is expected to positively affect the growth of the market
•          Increasing prevalence of encouraging reimbursement scenarios regarding the treatment of cardiac disorders; this factor is expected to foster growth of the market

Market Restraints

•          Requirement of better replacements after a certain time period with these devices resulting in larger financial costs as well as risks of complications with every procedure; this factor is expected to act as a restraint to the growth of the market
•          Presence of strict regulations regarding the approval and commercialization of these products; this factor is expected to hinder the growth of the market

Customization of the Report:

•          All segmentation provided above in this report is represented at country level
•          All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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