According to a study published in Health Affairs, the average price for a dual-chamber pacemaker in Germany was US$ 1,400 in 2014 and in the U.S. it was US$ 4,200. Moreover, risks associated with product design is major concern for developers. In November 2018, Boston Scientific issued a hazard alert in Australia regarding its SQ-RX Model 1010 Pulse Generator in some of the first-generation subcutaneous implantable cardioverter defibrillator (S-ICD) systems. Future innovations in CRM products is expected to shift from transvenous leads to leadless designs with combinations of different components on a modular basis according to the function required. Moreover, CRM devices with remote controlling such as implantable cardioverter defibrillators and pacemakers can send information from the device to a portable unit, which allows the healthcare professional to monitor the patient condition at any time.
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CARDIAC RHYTHM
MANAGEMENT
DEVICES MARKET
Market Size (2017)
US$ 19.05 Bn
CAGR (2018-2026)
7.5 %
MAJOR DRIVERS
Rising incidences of cardiac disorders worldwide
Technological advancements in in cardiac rhythm management devices
Novel product approval/launch
PROMINENT REGION
NORTH AMERICA
ASIA PACIFIC
MAJOR DRIVERS
Increasing number of approved products
Increasing prevalence of cardiovascular diseases
in the region
MAJOR DRIVERS
Increasing demand for high demand for technological
advanced products for cardiac rhythm management
Rising healthcare concern for stroke prevention
associated with atrial fibrillation
SEGMENTATION (SCOPE)
By Product Type
Cardiac Resynchronization Therapy
Devices
Defibrillator
Pacemakers
By End User
Hospitals
Home Care Settings
Ambulatory Care Settings
MAJOR PLAYERS OPERATING IN THE MARKET
Medtronic plc.
Abbott Laboratories
Abiomed
Boston Scientific Corporation
Biotronik Se Co Kg
Koninklijke Philips N.V.
LivaNova Plc.
Cardiac Science Corporation
Schiller Ag
Zoll Medical Corporation
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