cardiac rhythm management (CRM) devices market size is projected to reach at USD 32.4 billion by 2025. The CRM devices market is subject to witness substantial growth due to numerous awareness programs and schemes by regional governments in emerging and developed economies. Growing occurrence of cardiovascular diseases (CVDs), supportive legislative policies, and critical advancements in technology are attributing to the progress of the market in forecast period. Though, initial cost associated with implementation of cardiac rhythm management (CRM) devices and lack of awareness in rural parts across the globe are limiting the market expansion of cardiac rhythm management (CRM) devices market. The CRM devices market is expected to grow at a 7.5% CAGR during the forecast period.
Cardiac
rhythm management (CRM) devices are considered as most viable option for the
treatment for the patients suffering through diseases like arrhythmias. The
recent advancement in cardiac resynchronization therapies (CRTs) and devices
are driving the market growth. Alongside, the rising use of the implantable
cardioverter-defibrillators (ICDs) and its applications alongside their
integration with pacemakers in order to improve the product’s life cycle are
playing crucial part for treatment of heart diseases. The progress of the
cardiac rhythm management (CRM) devices industry is also attributed to the
factors such as need for external defibrillators due to growing awareness of
its use and increasing occurrence of diseases related to the sudden cardiac
arrest (SCA).
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Cardiac
rhythm management (CRM) is a procedure that involves the treatment of
arrhythmias (heart rhythm disorders). Arrhythmias are responsible for causing
number of problems for patients, such as palpitations, anxiety and dizziness,
that may lead to blackouts and cardiac arrest as well. The cardiac rhythm
management (CRM) term is loosely based on treatments involving implanted
electronic devices similar to pacemakers and defibrillators. Cardiac rhythm
management (CRM) devices are mainly classified into three common types such as
pacemakers, implantable cardioverter defibrillator (ICD) and cardiac
resynchronization therapy (CRT). Pacemakers are used for the treatment of slow
heart rates or attacks in dire situation where heart stop functioning, leading
to dizziness, blackouts, or even death. They provide small amount of electrical
impulses that may trigger the heartbeat.
The
other type of cardiac rhythm management (CRM) devices such as implantable
cardioverter defibrillator (ICD) is implemented in case of sudden cardiac
arrests because of the faster or chaotic beating in the central pumping chamber
i.e. ventricular tachycardia. In such scenarios, implantable cardioverter
defibrillator (ICD) creates a shockwave in order to restore the normal heart
rhythm, the shock is created automatically within seconds. The use of cardiac resynchronization
therapy (CRT) devices allows proper functioning of poorly coordinated
ventricles such as central pumping chambers that can lead to heart failure. CRT
devices are responsible for pacing the left ventricle involving central pumping
chamber from both side of the ventricles. This provides relaxation for patients
from symptoms and boosts their morality.
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The
use of ICDs and CRT devices offers immediate and long-term solution in
comparison with the bradycardia pacemakers. Implanting both CRT and ICD devices
on patients is vital for successful treatment. The applications of these
devices aids to amplify the health outcomes and ensures welfare for patients by
designing devices to carry out the highly efficient therapy, at times
evaluating and reducing system complications while utilizing precise device
diagnostic data for successful treatment.
The
market is divided into regional market segment such as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise adoption of latest technologies in healthcare
sector and existence well-established healthcare infrastructure. Asia-Pacific
market is predicted to hold higher share in the cardiac rhythm management (CRM)
devices market with massive growth in forecast period.
Countries
such as India, China and Singapore are leading the Asia-Pacific market with
growing penetration of health insurance in emerging economies and generating
substantial investment by multinational market players due to potential
opportunities in the region. The key players in the cardiac rhythm management
(CRM) devices industry are Medtronic Ltd., BIOTRONIK Incorporations, Boston
Scientific Co., St. Jude Medical Co., ZOLL Medical Co., and Philips N.V.
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