Cardiac Monitoring & Cardiac Rhythm Management Devices Market - CM [ECG (Resting, Stress, Holter Monitor), COM Devices, Implantable Loop Recorders, Event Monitors], CRM (Defibrillators (ICDs, External), Pacemakers, CRT-D, CRT-P) - Global Forecast to 2021
The global CM & CRM devices market is projected to reach USD 28 billion by 2021 from USD 22.19 billion in 2016, at a CAGR of 4.8% from 2016 to 2021. Growth in this market is mainly driven by factors such as rising incidence of cardiovascular disorders, growing use of mobile cardiac telemetry, and rise in private institutional nursing and home care.
This report segments the CM & CRM devices market on the basis of product type, end user, and region. On basis of product, cardiac monitoring devices market is categorized into ECG devices, implantable loop recorder (ILR), cardiac output monitoring (COM), and event monitors. The ECG devices segment is expected to account for the largest share during the forecast period due to the rapid technological advancements in the improvement of ECG devices.
On the basis of product, the cardiac rhythm management devices market is categorized into defibrillators, pacemakers, and cardiac resynchronization therapy (CRT) devices. The defibrillators segment is expected to hold a major share of the market during the forecast period due to the wide usage of defibrillators for cardiovascular patients.
New product launches and approvals were the key strategies adopted by major industry players to increase their market share and cater to unmet needs of the customers. Emerging and immature markets such as the Brazil, Japan, China, and India are lucrative for CM & CRM devices.
From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and subsegments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and challenges). The report also offers market sizes and data on the growth of various segments in the industry. It focuses on emerging and high-growth segments, high-growth regions, and initiatives of governments. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the CM & CRM devices market and the product portfolios, developments, and strategies adopted to maintain and increase their market shares. The abovementioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Major players in the CM & CRM devices market include Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), GE Healthcare (U.S.), and Philips Healthcare (Netherlands).
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms, garner a greater market share. Firms purchasing the report can use any one or a combination of the below mentioned five strategies (market penetration, product development, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on product portfolios of the top players in the CM & CRM devices market. The report analyzes the CM & CRM devices market by product type, end user, and region
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the CM & CRM devices market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the CM & CRM devices market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various product across geographies
Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the CM & CRM devices market