Cardiac rhythm management devices help in monitoring and regulating any abnormal cardiac rhythm such as Bradycardia, Tachycardia, and Atrial fibrillation. The devices are used in treatment procedures such as cardiac resynchronization therapy, cardiac electrophysiology, and defibrillation among others. Cardiac rhythm management devices consist of pacemakers, defibrillators, cardiac resynchronization therapy devices, and accessories. Pacemakers are the most common devices used for the treatment of heart rate problems. These devices help regulate abnormal heartbeats by sending electrical impulses to stimulate the heart muscle.

The Global Cardiac Rhythm Management Devices Market is estimated to be valued at US$ 19.05 billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the Cardiac Rhythm Management Devices are Medtronic plc. Abbott Laboratories, Abiomed, Boston Scientific Corporation, Biotronik Se Co Kg, Koninklijke Philips N.V., LivaNova Plc, Cardiac Science Corporation, Schiller Ag, and Zoll Medical Corporation. These players are focusing on various organic and inorganic growth strategies such as new product launches, mergers acquisitions, and collaborations to strengthen their market position.

There is a rise in opportunities such as remote monitoring systems and smartphone applications that help monitor cardiac activities. The manufacturers are also focusing on developing novel devices to treat complex arrhythmias.

Geographically, North America dominates the global market due to the high healthcare spending and presence of leading market players in the region. However, Asia Pacific region is expected to exhibit lucrative growth opportunities owing to rising geriatric population, increasing incidence of cardiovascular diseases, and growing healthcare expenditure in emerging countries.

Market Drivers
Rising prevalence of cardiovascular diseases - The increasing incidence of cardiovascular diseases such as arrhythmias, atrial fibrillation, heart attack, and heart failure is the major factor driving the growth of the global cardiac rhythm management devices market.

Market Restrains
High cost of advanced devices - The high cost associated with cardiac rhythm management devices such as pacemakers, defibrillators, and cardiac resynchronization therapy devices is one of the major challenges for market growth. This limits the adoption of these devices in low-income countries.

Segment Analysis

The cardiac rhythm management devices market is dominated by implantable cardioverter defibrillators sub segment. Implantable cardioverter defibrillators help normalize irregular heartbeats by delivering low-energy shocks to the heart. They are widely used for treatment of life-threatening cardiac arrhythmias like ventricular fibrillation and ventricular tachycardia. Rising incidences of cardiovascular diseases and growing elderly population prone to heart disorders are contributing to the increased demand for implantable cardioverter defibrillators.

The pacemakers sub segment is another major segment in this market. Pacemakers are battery-powered devices implanted in patients with bradycardia to regulate faulty heartbeats. Technological advancements leading to development of MRI-compatible and leadless pacemakers are boosting the adoption of pacemakers for treatment of heart blockages and other arrhythmias.

Global Analysis

The North American region currently dominates the global cardiac rhythm management devices market owing to presence of advanced healthcare infrastructure and high healthcare spending across countries like the US and Canada. According to statistics, cardiovascular diseases are a leading cause of deaths in the US, driving the need for cardiac devices. Europe is another major regional market driven by rising geriatric population and increasing awareness about cardiac disorders. However, the Asia Pacific region is expected to witness fastest growth during the forecast period attributed to growing medical tourism, improving healthcare facilities and expanding base of cardiac patients in highly populated countries such as India and China.