The Implantable Cardiac Rhythm Management Device Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s comprehensive analysis presented in the Implantable Cardiac Rhythm Management Device Global Market Report 2024, the landscape of this vital sector has exhibited robust growth in recent times. The market’s trajectory is poised to ascend, progressing from $16.43 billion in 2024 to an anticipated $17.52 billion by the same year, reflecting a noteworthy compound annual growth rate (CAGR) of 6.7%. This upward trajectory during the historical period is notably attributed to factors such as the burgeoning aging population, escalating incidence of cardiac arrhythmias, strategic awareness and education initiatives, robust healthcare infrastructure development, and the concurrent surge in healthcare expenditure.
Projections for the imminent years foretell a continued and pronounced growth trajectory for the implantable cardiac rhythm management device market. By the year 2028, the market is envisaged to burgeon to an estimated $21.84 billion, showcasing a commendable compound annual growth rate (CAGR) of 5.7%. The anticipated expansion during this forecasted period is underpinned by multifaceted factors, including the paradigm shift towards leadless devices, the advent of remote patient monitoring, heightened emphasis on heart failure management, increased adoption in burgeoning emerging markets, and strategic collaborations fostering research and development initiatives. Intriguingly, the forecasted period will witness the ascension of noteworthy trends, such as the emergence of bioresorbable technologies, seamless integration of artificial intelligence (AI), persistent advancements in technology, the assimilation of remote monitoring and telemedicine, strides in leadless pacemaker technologies, and the incorporation of wireless charging and efficient power management systems.
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.
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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
Top 5 Major Players:
A pivotal trend garnering substantial traction within the implantable cardiac rhythm management devices market is the relentless pursuit of technological advancement. Key industry players are directing their efforts towards pioneering technologies to fortify their market foothold. An exemplary illustration of this commitment to innovation is evidenced by Rhythm Management Group PLLC, a prominent US-based entity specializing in ongoing cardiac device monitoring for implantable cardiac devices. In April 2022, the company unveiled RhythmSynergy, an impactful technological platform harnessing the power of machine learning. This innovative platform seamlessly delivers timely and pertinent clinical insights for remotely monitored patients equipped with implantable cardiac devices, as well as wearable devices like blood pressure cuffs, scales, and glucometers. RhythmSynergy, with its sophisticated architecture, amalgamates clinical expertise with cutting-edge machine learning technologies, streamlining the review processes of crucial patient data. The platform’s secure design facilitates the simple review, sharing, and analysis of patient data, augmenting the overall efficacy of cardiac rhythm management. This transformative technology encapsulates a paradigm shift in the landscape, marking a noteworthy chapter in the trajectory of implantable cardiac rhythm management devices.
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
…..
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
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Implantable Cardiac Rhythm Management Device Market, Segmentation By Device, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Implantable Cardiac Rhythm Management Device Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Implantable Cardiac Rhythm Management Device Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…
Table 74: Stryker Corporation Financial Performance
Table 75: Schiller AG Financial Performance
Table 76: Medtronic plc Financial Performance
Table 77: Abbott Laboratories Financial Performance
Table 78: Boston Scientific Corporation Financial Performance
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