Global Cardiac Rhythm Management (CRM) Devices Market 2017-2021
About Cardiac Rhythm Management (CRM) Devices
CRM devices are used for treating all the major heart conditions such as coronary artery disease (CAD), stroke, cardiac arrest, and arrhythmia. The global CRM devices market is increasing owing to the rising prevalence of CVDs, increasing uptake of MCT, and growing patient awareness. There are three types of CRM devices available such as defibrillators, pacemakers, and CRT devices. The global pacemakers market will grow at a rapid pace followed by defibrillators and CRT devices. By geography, the Americas, EMEA, and APAC will showcase rapid growth rate during the forecast period. APAC will grow at the fastest pace during the forecast period followed by EMEA and the Americas.
Technavio’s analysts forecast the global cardiac rhythm management (CRM) devices market to grow at a CAGR of 7.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cardiac rhythm management (CRM) devices market for 2017-2021. To calculate the market size, the report considers the total sales volume and the revenue generated from it.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cardiac Rhythm Management (CRM) Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global cardiac rhythm management (CRM) devices market: Abbott, Boston Scientific, and Medtronic
Other Prominent Vendors in the market are: BIOTRONIK, Cardiac Science, CCC Medical Devices (acquired by Greatbatch), Cook Medical, GE Healthcare, Integer, Mortara Instrument (acquired by Hill-Rom Holdings), Neovasc, Philips Healthcare, Physio-Control (Subsidiary of Stryker), Rochling Medical, Schiller, LivaNova, and ZOLL Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological advances. There have been several advancements in the CRM devices. The ICD has seen advancement in the battery life. There have been improvements in patient monitoring to avoid needless shocks, the introduction of quadripolar lead devices to improve device programming and to improve therapy efficacy, and development of magnetic resonance imaging (MRI)-safe ICDs. The newer ICDs have been offering pacing functions and the devices are now integrated with wireless remote monitoring, without having the patient to visit the clinic on a regular basis.”
According to the report, one of the major drivers for this market is Rising incidence of CVDs. The increasing burden of vascular diseases such as CADs, PADs, CVDs, and neurovascular diseases will increase the patient pool. Factors such as diabetes, aging population, obesity, and hypertension are the major factors leading to vascular diseases. The increasing prevalence of cardiac disorders will lead to higher demand for CRM devices.
Further, the report states that one of the major factors hindering the growth of this market is Dearth of skilled healthcare professionals . CVDs are the leading cause of mortality in the world. The cardiovascular segment has seen much advancement in the recent years, but the shortage of cardiovascular (CV) workforce has become the subject of intense scrutiny in recent years. Forecasters predict a higher shortage of cardiologist in the future. The growing burden of CVD is the most significant factor influencing the demand of cardiologists. According to NCBI, CVD accounts for more than 17.3 million deaths globally per year. It is projected that by 2030, over 40% of the US population is projected to have CVD.
Abbott, Boston Scientific, Medtronic, BIOTRONIK, Cardiac Science, CCC Medical Devices (acquired by Greatbatch), Cook Medical, GE Healthcare, Integer, Mortara Instrument (acquired by Hill-Rom Holdings), Neovasc, Philips Healthcare, Physio-Control (Subsidiary of Stryker), Rochling Medical, Schiller, LivaNova, and ZOLL Medical.
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