Global Cardiac Rhythm Management Devices Market valued at $10.8 billion in 2021, is estimated to witness a decent growth of 8% by 2026 - Biotronik Se & Co, Stryker, Koninklijke Philips, Boston Scientific, Medtronic, Abbott

A procedure involving implantation of a device in the upper chest and connected to the heart to control both fast and slow heart rhythms by using electrical pulses is called as cardiac rhythm management (CRM), and the device is called as cardiac rhythm management device. CRM devices perform numerous functions, such as arrhythmias monitoring, cardiac resynchronization for heart failure, bradycardia pacing, defibrillation and anti-tachycardia pacing for tachyarrhythmias.

Technological Advancements in CRM Devices to fuel the Cardiac Rhythm Management Devices Market Growth

Continuous advances in CRM have enabled to develop efficient devices with increased battery longevity, smaller size, Bluetooth enabled, and MRI-compatible, among others. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are continuously focusing on new product development to strengthen their positions in the cardiac rhythm management devices market.

Some of the technological advancements are listed as below:
• In May 2022, MicroPort CRM received approval from China's National Medical Products Administration (NMPA) for its Platinium implantable cardioverter defibrillator (ICD), with an expected lifespan of 13-14 years reducing the risks associated with frequent replacements.
• In April 2022, Abbott's Aveir single-chamber (VR) leadless pacemaker has received the U.S. Food and Drug Administration (FDA) approval for the treatment of patients with slow heart rhythms in the U.S.
• In January 2022, Medtronic plc received approval from Ministry of Health, Labor and Welfare, Japan to sell and reimburse its Micra AV Transcatheter Pacing System (TPS), one of the world's smallest pacemakers.
• In July 2020, Abbott received the U.S. Food and Drug Administration (FDA) approval for its Gallant implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices that offer MRI compatibility and increased battery longevity.

Get Detailed Research Insights on Cardiac Rhythm Management Devices Market @ https://meditechinsights.com/cardiac-rhythm-management-devices-market/

Growing Prevalence of Cardiovascular Diseases (CVDs) to boost Adoption of Cardiac Rhythm Management Devices Market

Cardiovascular diseases are one of the leading causes of death across the world. Coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other illnesses are among the group of heart and blood vessel disorders known as CVDs. Heart attacks and strokes account for more than four out of every five deaths caused by CVDs, and one third of these deaths happen before the age of 70.

• According to WHO, 32% of all deaths across the globe i.e., 17.9 million people die due to CVD every year.
• As per CDC,
o 659,000 people in the US die from heart disease every year; heart diseases costs $363 billion each year in the US which includes cost of medicines and healthcare services.
o Coronary heart disease alone killed 360,900 people in 2019 in the US and over 18.2 million adults suffering from coronary artery disease live in the US.
• According to European Heart Network, CVDs account for over 3.9 million deaths every year in the European region, out of which over 1.8 million deaths occur in the European Union (EU).
• In 2019, the mortality rate of CVDs in China was 364.5 per 100,000 population.

Furthermore, rising geriatric population prone to heart defects due to progressive deterioration in the structure and function of the heart, largely contributes to the high burden of CVDs; thereby triggering the increased adoption of CRM devices.

Competitive Landscape Analysis: Cardiac Rhythm Management Devices Market

The cardiac rhythm management devices market is marked by the presence of key players such as Medtronic (Ireland); Boston Scientific Corporation (US); Abbott Laboratories (US); BIOTRONIK SE & Co. KG (Germany); Stryker Corporation (US); Koninklijke Philips N.V. (Netherlands); and others.

Get a Customized Research Report on Cardiac Rhythm Management Devices Market @ https://meditechinsights.com/cardiac-rhythm-management-devices-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/
https://www.linkedin.com/company/medi-tech-insights/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.