The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cardiac rhythm management (CRM) devices and equipment market report forecasts the cardiac rhythm management (CRM) devices and equipment market size to grow to $20.05 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

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Cardiac Rhythm Management (CRM) Devices And Equipment Market Size Forecast

The global cardiac rhythm management (CRM) devices and equipment market is expected to grow from $15.13 billion in 2022 to $16.19 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac rhythm management (CRM) devices and equipment market size is expected to grow to $20.05 billion in 2027 at a CAGR of 5.5%.

North America held the largest cardiac rhythm management (CRM) devices and equipment market share.

Key Cardiac Rhythm Management (CRM) Devices And Equipment Market Driver ­– Rise In The Incidences Of Cardiovascular Diseases

Sedentary lifestyles and medical conditions such as high cholesterol, high blood pressure, obesity, and diabetes are major causes of cardiovascular diseases. According to the World Health Organization, cardiovascular diseases account for about 31% of all global deaths. Most of these deaths occur due to heart attacks and strokes. As more people suffer from cardiovascular diseases, the demand for cardiac rhythm management and devices is expected to increase.

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Key Cardiac Rhythm Management (CRM) Devices And Equipment Market Trend – Developing Technologies Such As S-ICD And LCP

Technologies such as subcutaneous implantable cardioverter-defibrillator (S-ICD) and leadless cardiac pacemakers (LCP) are being developed to overcome complications with transvenous lead and other CRM devices. The novel modular cardiac rhythm management (mCRM) system allows for the coordination of leadless pacing and defibrillator therapy delivery by providing wireless intra-body communication between devices. This communication is possible by a combination of anti-tachycardia pacing-enabled LCP and S ICD. For instance, Medtronic developed the leadless pacemaker Micra which can be placed in the heart through veins and is self-contained within the heart.

Cardiac Rhythm Management (CRM) Devices And Equipment Market Segment

1) By Product: Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)

2) By End User: Hospitals, Ambulatory surgical centers, Physicians Clinics

3) By Application: Bradycardia, Tachycardia, Heart Failure, Other Applications

4) By Pacemakers: Implantable Pacemakers, External Pacemakers

5) By Defibrillators: Implantable Cardioverter Defibrillators, External Defibrillator

6) By Cardiac Resynchronization Therapy (CRT): CRT-Defibrillators (CRT-D), CRT-Pacemakers (CRT-P)

Cardiac Rhythm Management (CRM) Devices And Equipment Market Major Players and Strategies

Major players in the cardiac rhythm management (CRM) devices and equipment market are Abbott, Medtronic, Biotronik, Cardiac Science Corporation, Schiller AG, Hill-Rom Holdings Inc., GE Healthcare, Integer, Biotelemetry, and Neovasc.

The Cardiac Rhythm Management (CRM) Devices And Equipment Global Market Report 2023 covers regional data on cardiac rhythm management (CRM) devices and equipment market size, cardiac rhythm management (CRM) devices and equipment market trends and drivers, opportunities, strategies, and cardiac rhythm management (CRM) devices and equipment market competitor analysis. The countries covered in the cardiac rhythm management (CRM) devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cardiac rhythm management (CRM) devices and equipment are used to manage the heart rate or rhythm by generating electrical impulses or shocks in order to get the heart back to its normal functions. CRM devices are used to treat and manage arrhythmia-related diseases such as cardiac arrests, heart failure, or cardiac arrhythmias.

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