Cardiac Rhythm Management (CRM) Devices Market Report 2024 - CRM Devices Market Growth

"The Business Research Company recently released a comprehensive report on the Global Cardiac Rhythm Management (CRM) Devices And Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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.

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Market Drivers and Trends:
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.

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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Major Key Players of the Market:
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

Cardiac Rhythm Management (CRM) Devices And Equipment Market 2024 Key Insights:
• 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%.
• Geriatric Population Drives Growth In The Cardiac Rhythm Management (CRM) Devices And Equipment Market
• Innovative Leadless Pacemaker Advancing Crm Devices Market
• North America was the largest region in the global cardiac rhythm management (CRM) devices and equipment market in 2023

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