Global Cardiac Rhythm Management (CRM) Market Report: 2016 Edition
Cardiac rhythm management (CRM) is a well-established segment of the cardiology devices market. CRM majorly consists of devices such as implantable cardioverter defibrillators (ICD), implantable pacemakers, and other CRM monitoring devices. Cardiac rhythm management devices are commonly used for the treatment of arrhythmias specifically superventricular arrhythmias (SVA) and ventricular arrhythmias (VA) and heart failure. CRM devices can be very efficient in decreasing the number of Sudden Cardiac Death (SCD). SCD is an unexpected death due to cardiac causes occurring in a short time period (generally within 1 hour of symptom onset) in a person with known or unknown cardiac disease.
The emerging markets are offering significant potential for companies able to establish distribution channels in the region. However, low reimbursement and costs of living provide intense pricing pressure for market entrants. With limited financial resources available, current devices are largely unaffordable in developing countries, and significant reductions are expected in future as manufacturing operations improve and distribution becomes more global. In response to significant cost concerns, there are many companies which are developing value-tier platforms that enable the sale of lower-cost devices. As physician use and adoption continues to increase in these regions, significant market expansion is expected.
The report provides a comprehensive study of global cardiac rhythm management (CRM) market and also the regional markets. The competition in the global CRM market is intense among large players like Medtronic, St. Jude Medical and Boston Scientific. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
The key factors driving the growth of the CRM market are growing consumption of tobacco and alcohol, rising global population, rising healthcare expenditure, the rise of irrigated RF ablation catheter device, expansion in emerging markets and increasing prevalence of cardiac arrhythmias. Some of the noteworthy trends and developments of this industry are new product launch, rising demand of leadless pacemaker, ICD procedure growth trend, increased adoption of subcutaneous ICD, introduction of quadripolar lead devices. However, the expansion of market is hindered by regulatory and environment issues.