The Global CardiacRhythm Management Devices Market, by Product Type (Cardiac ResynchronizationTherapy Devices, Defibrillator, and Pacemakers), by End User (Hospitals, HomeCare Settings, and Ambulatory Care Settings), and by Region (North America,Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 19.05 billion in 2017, and is projected toexhibit a CAGR of 7.5% over the forecast period (2018 - 2026),.
Cardiac Rhythm Management (CRM) devicesperform many functions, including monitoring for arrhythmias, bradycardiapacing, cardiac resynchronisation for heart failure, defibrillation andanti-tachycardia pacing for tachyarrhythmias. In the past few decades, use ofcardiac rhythm management devices has increased worldwide due to increase inlife expectancy and technological developments in products such as cardiacresynchronization therapy (CRT). Increasing consumption of caffeine is the mostcommon factor linked with abnormal heart rhythms. Furthermore, excessiveconsumption of red wine can lead to symptoms of arrhythmias. Substances such asautomobile emissions, cigarette smoke, pollution from industrial plants, paintthinners, and propane gas can also result into problems related to cardiacrhythms. However, high product price and infection risks associated withproduct implantation are the major concerns for manufacturers, as these areobstructing the product adoption. As per the study published by the NationalCardiovascular Data Registry 2014, implantable cardioverter defibrillatorinfection rate has been reported to be around 1.7%. It is the third leading causeof complications occur due to CRM devices.
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According to a study published inHealth Affairs, the average price for a dual-chamber pacemaker in Germany wasUS$ 1,400 in 2014 and in the U.S. it was US$ 4,200. Moreover, risks associatedwith product design is major concern for developers. In November 2018, BostonScientific issued a hazard alert in Australia regarding its SQ-RX Model 1010Pulse Generator in some of the first-generation subcutaneous implantablecardioverter defibrillator (S-ICD) systems. Future innovations in CRM productsis expected to shift from transvenous leads to leadless designs withcombinations of different components on a modular basis according to thefunction required. Moreover, CRM devices with remote controlling such asimplantable cardioverter defibrillators and pacemakers can send informationfrom the device to a portable unit, which allows the healthcare professional tomonitor the patient condition at any time.
Browse 28 Market Data Tables and24 Figures spread through 155 Pages and in-depth TOC on "Cardiac RhythmManagement Devices Market, by Product Type (Cardiac Resynchronization TherapyDevices, Defibrillator, and Pacemakers), by End User (Hospitals, Home Care Settings,and Ambulatory Care Settings), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Key Takeaways of the CardiacRhythm Management Devices Market:
The global cardiac rhythmmanagement devices market is expected to expand at a CAGR of 7.5% during theforecast period (2018–2026), owing to increasing number of arrhythmias patientsglobally. According to the Center for Diseases Control and Prevention (CDC)2017 data, an estimated 2.7 to 6.1 million people in the U.S. have heartarrhythmias.
Among region, Asia Pacific isexpected to generate significant revenue in 2018, due to rising adoption ofcardiac rhythm management devices in the region. According to the Heart, Lungand Circulation Journal 2015 study, around 20,000 cardiac rhythm managementdevices are implanted across Australia annually, around three-quarters of whichare pacemakers.
Major players operating in theglobal cardiac rhythm management devices market include Medtronic plc., AbbottLaboratories, Abiomed, Boston Scientific Corporation, Biotronik Se Co Kg,Koninklijke Philips N.V., LivaNova Plc., Cardiac Science Corporation, SchillerAg, and Zoll Medical Corporation
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