What Is The Current and Historic Market Size Analysis Of The Implantable Cardiac Rhythm Management Device Market?
The implantable cardiac rhythm management device market has seen considerable growth due to a variety of factors.
•The market for implantable cardiac rhythm management devices has experienced consistent growth in recent years. The market value is projected to increase from $17.06 billion in 2024 to $17.87 billion in 2025, with a compound annual growth rate (CAGR) of 4.8%.
The previously observed growth can be connected to factors such as an ageing population, an increased occurrence of cardiac arrhythmias, initiatives around awareness and education, improvements in healthcare infrastructure, and heightened healthcare spending.
What Are The Predictions for The Implantable Cardiac Rhythm Management Device Market Size In The Coming Years?
The implantable cardiac rhythm management device market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market for implantable cardiac rhythm management devices is projected to witness significant growth, reaching "$23.27 billion in 2029 with a compound annual growth rate (CAGR) of 6.8%.
This growth during the forecast period is largely due to the shift towards leadless devices, applications in remote patient monitoring, a strong emphasis on heart failure management, wider adoption in developing markets and partnership for research and development. Key trends for the forecast period encompass the advent of bioresorbable technologies, the incorporation of artificial intelligence (AI), technological advancements, integration of remote monitoring and telemedicine, developments in leadless pacemakers, wireless charging, and improvements in power management.
Which Drivers Are Accelerating Growth In The Implantable Cardiac Rhythm Management Device Market?
The rise in cardiac disorders is anticipated to propel the implantable cardiac rhythm management devices market's growth. These disorders, which affect the heart or blood vessels, are increasingly being managed by these devices that support patients with heart failure and reduced left ventricular function. They enhance systolic function by resynchronizing heart contractions and reinstating normal heart rhythm during potentially fatal rapid ventricular arrhythmias. Consequently, the escalating prevalence of cardiac disorders will surge the demand for these devices. For example, data from the British Heart Foundation in September 2024 revealed that about 7.6 million people in the UK, including approximately 4 million men and 3.6 million women, live with heart and circulatory diseases. Responsible for around 27% of all deaths in the UK, these diseases cause over 170,000 deaths each year or about 480 deaths a day, translating to one death every three minutes. Hence, the growing prevalence of cardiac disorders fuels the growth of the implantable cardiac rhythm management devices market.
What Are The Core Segments Of The Global Implantable Cardiac Rhythm Management Device Market?
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
Subsegments:
1) By Cardiac Resynchronization Therapy (CRT): CRT-P (Pacemaker), CRT-D (Defibrillator)
2) By Defibrillators: Implantable Cardioverter Defibrillators (ICDs), Subcutaneous Implantable Defibrillators (S-ICDs)
3) By Pacemakers: Single-Chamber Pacemakers, Dual-Chamber Pacemakers, Biventricular Pacemakers
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Which Emerging Trends Are Reshaping The Implantable Cardiac Rhythm Management Device Market Size?
In the market for implantable cardiac rhythm management devices, technological innovation is a dominant trend gaining traction. Major players in this market are consistently focusing on technological advancements to maintain their market standing. For instance, in April 2022, Rhythm Management Group PLLC, a company based in the United States specializing in continuous monitoring of implantable cardiac devices, rolled out RhythmSynergy, an innovative new technology platform. This platform utilizes machine learning to deliver relevant clinical insights accurately and promptly for patients with implantable cardiac devices and wearable devices like blood pressure cuffs, scales, and glucometers who are being monitored remotely. RhythmSynergy spotlights essential information and streamlines review processes by merging clinical intelligence and machine learning technologies. Its clean, secure infrastructure and robust reporting capabilities make patient data review, sharing and analysis a straightforward process.
Who Are the Key Players in the Implantable Cardiac Rhythm Management Device Market?
Major companies operating in the implantable cardiac rhythm management device market include:
• Schiller AG
• Medtronic plc
• Abbott Laboratories
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• Biotronik Ltd.
• MicroPort Scientific Corporation
• Abiomed Inc
• Nihon Kohden Corporation
• Japan Lifeline Co. Ltd.
• Lepu Medical Technology Co. Ltd.
• LivaNova PLC
• Shenzhen Mindray Biomedical Electronics Co. Ltd
• Progetti Srl
• Edwards Lifesciences Corporation
• Cardiac Science Corporation
• Bardy Diagnostics Inc.
• Beijing Demax Medical Technology Co. Ltd
• iRhythm Technologies Inc.
• Impulse Dynamics plc.
• VytronUS Inc.
What are the Regional Insights into the Implantable Cardiac Rhythm Management Device Market?
North America was the largest region in the implantable cardiac rhythm management device market in 2024. The regions covered in the implantable cardiac rhythm management device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
