A variety of reasons, including the rising prevalence of cardiac illnesses, technological improvements, patient awareness, and the rising number of unmet medical requirements in developing and undeveloped nations, are driving the market. The market, on the other hand, is constrained by a lack of insurance coverage alternatives, the high cost of these devices, particularly in developing countries, and the preference for pharmaceuticals over treatment devices. In contrast, it is anticipated that during the forecast period, the development of new MRI-labeled devices and growth opportunities in the emerging economies of the Asia-Pacific and LAMEA regions will present opportunities for the growth of the cardiac monitoring cardiac rhythm management industry.
The global market for cardiac monitoring and heart rhythm management devices is divided into segments based on the end user, the firm, and the region of distribution.
The market is divided into ECG devices, implanted loop recorders, mobile cardiac telemetry devices, cardiac output monitoring devices, and others based on cardiac monitoring equipment. Through the following five years, ECG devices are anticipated to continue to dominate the market. The main variables influencing segment demand are the increasing commercialization of novel products, regional expansions, technological improvements, and government initiatives. Defibrillators and pacemakers are the two main product categories in the market for cardiac rhythm control devices.
Cardiac Rhythm Management Devices Market: Segmentation Analysis
Based on the Product
- Pacemakers
- Implantable
- External
Defibrillators:
- S-ICD
- T-ICD
Implantable Cardioverter Defibrillators (ICD)
External Defibrillator Cardia
- Manual External Defibrillator
- Automatic External Defibrillator
- Wearable Cardioverter Defibrillator
Resynchronization Therapy (CRT)
- CRT-Defibrillator
- CRT-Pacemakers
Among all types, the Defibrillators segment dominated the CRM devices market by holding the largest share in terms of revenue in the global market. The Defibrillators segment held a share of 43.6% IN 2021. The dominance is attributable to rising adoption of Subcutaneous Implantable Defibrillator (S-ICD) and Transvenous Implantable Cardioverter Defibrillator (T-ICD) in major regional markets such as US, U.K., China and India. The External Defibrillator segment is anticipated to observe higher rate of 9.3% through the projected period owing to the rise in adoption of defibrillators.
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Top Key Players:-
- ACS Diagnostics
- Alivecor, Inc.
- Asahi Kasei Corporation
- Bexen Cardio
- Biotelemetry
- Biotronik
- Boston Scientific Corporation
- BPL Medical Technologies
- BTL
- GE Healthcare
- Hill-Rom Holdings, Inc.
- Koninklijke Philips N.V.
- Lepu Medical Technology
- Medtronic Plc
- Metrax Gmbh
- Microport Scientific Corporation
- Narang Medical Limited
- Nihon Kohden Corporation
- Osypka AG
- Schiller AG
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
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Frequently Asked Questions (FAQ):
- How big is the cardiac rhythm management devices market?
- What is the cardiac rhythm management devices market growth?
- Which product segment led the cardiac rhythm management devices market?
- Which region accounted for the largest CRM devices market share?
- Who are the key players in the cardiac rhythm management devices market?
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