Market Research Report
Cardiac Rhythm Management (CRM) Devices Market Share, Size & Trends Analysis Report By Product (Pacemaker, Defibrillator, Cardiac Resynchronization Therapy), And Segment Forecasts, 2018 - 2025
|Published by||Grand View Research, Inc.||Product code||614697|
|Published||Content info||80 Pages
Delivery time: 1-2 business days
|Cardiac Rhythm Management (CRM) Devices Market Share, Size & Trends Analysis Report By Product (Pacemaker, Defibrillator, Cardiac Resynchronization Therapy), And Segment Forecasts, 2018 - 2025|
|Published: February 9, 2018||Content info: 80 Pages||
The global cardiac rhythm management (CRM) devices market size is anticipated to reach USD 32.4 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.8% CAGR during the forecast period. Increase in demand for CRM devices can be attributed to supportive legislative policies by governments in developed and developing countries. Rising incidence of cardiovascular diseases (CVDs), supportive reimbursement scenario, and major advancements in technology are also anticipated to be key factors governing market growth.
CRM devices serve as a permanent treatment option for patients suffering from arrhythmias. Innovation in Cardiac Resynchronization Therapy (CRT) devices is expected to drive this market. Additionally, there is an increase in the application of implantable cardioverter-defibrillators (ICDs) as they are now integrated with pacemakers, thus increasing the product's life. Increase in demand for external defibrillators with growing in awareness and rising disease burden of sudden cardiac arrest (SCA) has also been observed. There is an expansion in the market for external defibrillators as governments in developed economies have been working on making countries more cardio-friendly.
According to statistics published by the Sudden Cardiac Arrest Foundation, about 6.0 million people within the U.S. region suffer from cardiac disorders, of which 0.8 million are affected by atrioventricular blockage, leading to cardiac failure. Such an alarming number leads to an increased cost of about USD 20-56 billion annually. CRM devices are being predominantly used to prevent surgical costs and readmission rates in hospitals, thereby propelling market growth.