Implantable Cardiac Rhythm Management Device Market to Reach $21.8 Billion by 2033, Driven by Aging Population, Technological Innovations, and Growing Heart Disease Cases

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Implantable Cardiac Rhythm Management Device Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $21.84 billion In 2028 At A CAGR Of 5.7% :

The implantable cardiac rhythm management device market size has grown strongly in recent years. It will grow from $16.43 billion in 2023 to $17.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to aging population, increasing incidence of cardiac arrhythmias, awareness and education initiatives, healthcare infrastructure development, rising healthcare expenditure.

The implantable cardiac rhythm management device market size is expected to see strong growth in the next few years. It will grow to $21.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to shift towards leadless devices, remote patient monitoring, focus on heart failure management, increased adoption in emerging markets, collaborations for research and development. Major trends in the forecast period include emergence of bioresorbable technologies, integration of artificial intelligence (ai), advancements in technology, remote monitoring and telemedicine integration, advancements in leadless pacemakers, wireless charging and power management.

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Implantable Cardiac Rhythm Management Device Market Major Segments
The implantable cardiac rhythm management device market covered in this report is segmented -

1) By Device: Cardiac Resynchronization Therapy, Defibrillators, Pacemakers
2) By Application: Bradycardia, Tachycardia, Other Applications
3) By End-Use: Hospitals, Specialty Cardiac Centers, Other End-Uses

Key Driver - Implantable Cardiac Devices Market Grows With Cardiac Disorder Prevalence

The increasing prevalence of cardiac disorders is expected to boost the growth of the implantable cardiac rhythm management devices market going forward. Cardiac disorder refers to a type of condition that affects the heart or blood vessels. Implantable cardiac rhythm management devices are used to help patients with heart failure and reduced left ventricular function to improve systolic function by resynchronizing the heart contraction and restoring normal heart rhythm in the event of life-threatening rapid ventricular arrhythmias. Hence, the increasing prevalence of cardiac disorders will boost the demand for implantable cardiac rhythm management devices. For instance, according to the Centers for Disease Control and Prevention, a US-based non-profit organization, in 2021 approximately 695,000 individuals in the United States died from heart diseases. Additionally, in 2021, coronary heart disease, the most prevalent form of heart disease, resulted in the demise of 375,476 individuals. Therefore, the increasing prevalence of cardiac disorders is driving the growth of the implantable cardiac rhythm management devices market.

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Prominent Trend - Technological Advances Propel The Implantable Cardiac Rhythm Management Devices Market

Technological advancement is the key trend gaining popularity in the implantable cardiac rhythm management devices market. Major companies operating in the implantable cardiac rhythm management devices market are focusing on developing new technologies to sustain their market position. For instance, in April 2022, Rhythm Management Group PLLC, a US-based company that offers ongoing cardiac device monitoring for implantable cardiac devices, launched RhythmSynergy, a potent new technology platform. It uses machine learning to effectively deliver timely and pertinent clinical insights for patients being monitored remotely who have implantable cardiac devices and wearable devices like blood pressure cuffs, scales, and glucometers. RhythmSynergy highlights important information and streamlines review processes by fusing clinical knowledge and machine learning technologies. Reviewing, sharing, and analyzing patient data is made simple by its slick, secure architecture and potent reporting features.

Implantable Cardiac Rhythm Management Device Market Players
Major companies operating in the implantable cardiac rhythm management device market report are Stryker Corporation, Schiller AG, Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Koninklijke Philips N.V., Zoll Medical Corporation, Biotronik Ltd., MicroPort Scientific Corporation, Abiomed Inc, Hydrix Limited, Nihon Kohden Corporation, Japan Lifeline Co. Ltd., Lepu Medical Technology Co. Ltd., LivaNova PLC, Shenzhen Mindray Biomedical Electronics Co. Ltd, Progetti Srl, Edwards Lifesciences Corporation, Cardiac Science Corporation, Sorin Group S.p.A., St. Jude Medical LLC, Osprey Medical Inc., Bardy Diagnostics Inc., VivaLNK Inc., NanoMatriX International Limited, Beijing Demax Medical Technology Co. Ltd, iRhythm Technologies Inc., Impulse Dynamics plc., SentiAR Inc., VytronUS Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the implantable cardiac rhythm management device market in 2023. The regions covered in the implantable cardiac rhythm management device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Implantable Cardiac Rhythm Management Device Market Report Structure
3. Implantable Cardiac Rhythm Management Device Market Trends And Strategies
4. Implantable Cardiac Rhythm Management Device Market - Macro Economic Scenario
5. Implantable Cardiac Rhythm Management Device Market Size And Growth
…..
27. Implantable Cardiac Rhythm Management Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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