Cardiac Rhythm Management (CRM) Devices And Equipment Market Research, Outlook, Demand, Analysis 2024-2033: An In-Depth Report

The cardiac rhythm management (crm) devices and equipment market size has grown strongly in recent years. It will grow from $16.63 billion in 2023 to $17.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to prevalence of arrhythmias, technological advancements, aging population, chronic disease management.

The cardiac rhythm management (crm) devices and equipment market size is expected to see strong growth in the next few years. It will grow to $23.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to personalized medicine, technological innovations, telehealth integration, global access to healthcare. Major trends in the forecast period include leadless crm devices, biodegradable devices, remote monitoring, combination therapies.

Market Overview -
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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Geriatric Population Drives Growth In The Cardiac Rhythm Management (CRM) Devices And Equipment Market
The rise in the geriatric population is expected to propel the growth of the cardiac rhythm management (CRM) devices and equipment market going forward. The geriatric population refers to people aged 65 and over. With the increase in geriatric population, the incidence of cardiovascular diseases also rises, leading to an increased demand for CRM devices. These devices can help manage heart rhythm disorders, such as arrhythmias, and improve the quality of life for older adults. For instance, according to the Administration for Community Living, a US-based government department, the older population reached 55.8 million in 2020, and it is projected to reach 80.8 million by 2040 and 94.7 million by 2060. Thus, the rise in the geriatric population is driving the growth of the cardiac rhythm management (CRM) devices and equipment market.

Competitive Landscape -
Major companies operating in the cardiac rhythm management (CRM) devices and equipment market include Abbott Laboratories, Medtronic plc, Biotronik SE & Co KG, Cardiac Science Corporation, Schiller AG, Hill-Rom Holdings Inc., GE Healthcare, Integer Holdings, Neovasc Inc., Philips Healthcare, Stryker Corporation, Rochling Medical, CCC Medical Devices, LivaNova plc, ZOLL Medical Corporation, Koninklijke Philips N.V, Applied Cardiac System, Cook Medical, Abiomed Inc., Berlin Heart GmbH, Brotionik SE and Co. KG, Jarvik Hearth Inc., MicroPort Scientific Corp, ReliantHeart Inc., Shree Pacetronix Ltd., Shaanxi Qinming Medical Instrument Co. Ltd., AtriCure Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Progetti Srl

Innovative Leadless Pacemaker Advancing Crm Devices Market
Major companies operating in the cardiac rhythm management (CRM) devices and equipment market are developing innovative products such as, single-chamber (VR) leadless pacemaker to manage heart rhythm disorders and improve patient outcomes, The leadless pacemaker is implanted directly inside the heart's right ventricle via a minimally invasive procedure, eliminating the need for cardiac leads. For instance, in April 2022, Abbott Laboratories, a US-based medical device company received FDA approval for the Aveir single-chamber (VR) leadless pacemaker for the treatment of patients with slow heart rhythms. The device can provide detailed insights into patient health and heart activity, which can inform treatment decisions and improve patient outcomes. The software for the Aveir VR leadless pacemaker was designed for expandability to a dual-chamber system, which can provide additional treatment options for patients in the future.

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Key Segments -

The cardiac rhythm management (crm) devices and equipment market covered in this report is segmented -
1) By Product: Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT)
2) By Application: Bradycardia, Tachycardia, Heart Failure, Other Applications
3) By End User: Hospitals, Ambulatory surgical centers, Physicians Clinics

Subsegment: CRT-Defibrillators (CRT-D), CRT-Pacemakers (CRT-P), Implantable Cardioverter Defibrillators, External Defibrillator,Implantable Pacemakers, External Pacemakers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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