openPR Logo
Press release

Cardiac Rhythm Management Market Outlook to 2024

11-15-2017 07:50 AM CET | Health & Medicine

Press release from: Optima insights Pvt Ltd

/ PR Agency: optima insights
Cardiac Rhythm Management

Cardiac Rhythm Management

Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions

Global CRM market was valued at $10bn in 2015, with two main product categories ICD accounted for an estimated $6.0bn (60%) in sales and the pacemaker the reaming $4.0bn (40%) of the total market. The global CRM market is expected to grow at a modest 5.4% CAGR between 2015 and 2024, culminating in 2024 global sales of $16.8bn.

Cardiac Rhythm management (CRM) represents the largest segment of the cardiovascular devices market. Heart rhythm disorders are fairly common, with millions of people experiencing arrhythmias, or irregular heartbeats, at some point over their lives. Cardiac rhythm management (CRM) accounts for nearly 30% of worldwide death caused by cardiovascular disease. Nearly 7 million deaths occur in Germany, Italy, France, UK, & Spain annually due to sudden cardiac arrest (SCA).

In the early 2000s, the ICD market was a growth market driven by the launch of new products, positive clinical trial results, and indication expansions. However, after several recalls, government investigations, and journal articles raising the issue of overuse, the market slowed and has since become a mature market. The pacemaker market has been a more mature market for some time though in recent years has come under some more pressure amid a deteriorating pricing environment.
Our Services : http://optimainsights.org/services

Cardiac Rhythm Management Market: By Device Segment 2015-2024

An increasing number of M&A, rise in the number of collaborations and partnerships, and new product launches are some of the latest trends in the global cardiac rhythm management market which is going to boost the performance in the sector during forecast period.

The regulatory environment is more favorable now than before. The December 2015 decision on medical device excise tax suspension for 2016-2017 looks affirmative for the sector. M&A deals already touching $34 billion for 2016 with few months still to go, makes the year third busiest since 2008, which is again sign of progress.

“Drivers and Restraints”

Overall, the CRM market has stabilized and has recovered from market pressures experienced in 2011 & 2012 following JAMA article on overutilization and DoJ investigation. However, the CRM market remains intensely competitive. Product introductions promise to keep the CRM space interesting and MRI compatibility, competitive and innovative product launches could lead to more CRM shifts. Broadly, within CRM space, improving volume & moderating pricing pressure support stabilization and set the stage for mid-single digit growth through 2024.

" Medtronic, St. Jude Medical (pending acquisition by Abbott), Boston scientific are some of the key players in the CRM market"

Request For TOC : http://optimainsights.org/request-toc/cardiac-rhythm-management-market-outlook-to-2024

The market sales in CRM are driven from the three principal players—Medtronic, Boston Scientific, and St. Jude Medical (pending acquisition by Abbott). Together they represent roughly 90% of the global CRM market. Smaller, more regional players include Biotronik (private) and Sorin. R&D commitment by the players and the technology differentiation keeps market shares fluid.

The Cardiac Rhythm Management (CRM) landscape is shifting. Medtronic has benefitted from being the only manufacturer on the market with MRI-safe products, and momentum should continue as it expands it MRI-labeling to 3T scans in the U.S. Boston Scientific launched in its own MRI safe pacemaker and the MRI-safe Emblem S-ICD, with expectations for its MRI-safe ICD products 2017.

Medtronic continues to hold a dominant position today, with more than 40% share of both the pacemaker and ICD segments. Over the past 2-3 years, Medtronic has managed to gain share due to its first-mover advantage in MRI compatibility and new products like its Reveal Linq implantable cardiac monitor. Medtronic should continue to offer competitive edge driven by the roll out of novel technologies such as Micra leadless pacemaker and extravascular ICD (E-ICD). However, going forward, Medtronic’s share is expected to stabilize as St. Jude and Boston Scientific close the MRI gap through new product launches.

Although a relatively small player in U.S. CRM, privately-held Biotronik has an FDA approved MRI ICD product. The broader clinician enthusiasm around MRI compatible implantable devices offers the company the commercial and competitive advantage.

Outlook

The Cardiac Rhythm Management (CRM) landscape is shifting. The CRM portfolio of leading companies continue to gain traction through differentiated product offering and companies investing to develop and launch new MRI compatible products. An increasingly competitive market will likely pressure ASP going forward though continued technology innovation should help offset this.

Despite the challenges in CRM, this market continues to be an important area of investment for the players given the large market size for ICD and pacemaker where even small share shift can make meaningful difference in operating profits and margin. The result of continued R&D commitment in CRM will be steady innovation, with new product mix resulting in some absorption of price pressure.

Optima Insights is an innovative research and insights driven enterprise committed to offer actionable intelligence to the global life science and healthcare market. We believe that meaningful insights and improved strategic content holds the key to improved ROI for our clients. We strike an innovative engagement model with our clients to Co-Create Intelligence that would address very specific issues facing them within their functional areas. We continuously support clients through the entire journey map to enable them take better business decisions towards attaining market leadership.

ChuCks G
Manager International Marketing
---------------------------------
1 MMC, Road, Chennai. Pin - 600060,
Tamil Nadu, I N D I A

Phone: +91 966 6620 365
Whatsapp: +91 966 6620 365
Email: info@optimainsights.org

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cardiac Rhythm Management Market Outlook to 2024 here

News-ID: 817191 • Views: 302

More Releases from Optima insights Pvt Ltd

Endometriosis Treatment Market is Expected to Reach $3.43 bn by 2027
The Endometriosis Treatment Market was valued at US $2.64 billion in the year 2019 and is estimated to reach US $3.43 billion by 2027, at a CAGR of 3.36%. The growth of tissue outside the uterus similar to lining of uterus (endometrium) refers to Endometriosis. Areas of endometrial tissue growth often occur in ovaries, fallopian tubes, peritoneum and outer surfaces of bladder, uterus, intestines, and rectum and rarely spread beyond pelvic
Inflammatory Bowel Disease (IBD) Treatment Market is Expected to Reach $15.5 bn …
The Inflammatory Bowel Disease (IBD) treatment market share was US$ 11.38 Bn in the year 2018. The market is anticipated to grow at a rate of 3.94%, through the forecast period to reach US$ 15.5 Bn by the year 2027. Inflammatory Bowel Disease (IBD) usually denotes disorders characterized by the inflammation in the digestive system. Inflammatory Bowel Disease (IBD) and Irritable Bowel Syndrome are two different disorders that are often confused
Polycystic Ovarian Syndrome (PCOS) Treatment Market is Expected to Reach $5.59 b …
The Polycystic Ovarian Syndrome (PCOS) Treatment Market was valued at US $3.74 billion in the year 2019 and is estimated to reach US $5.59 billion by 2027, at a CAGR of 5.18%. Polycystic Ovarian Syndrome (PCOS), also referred to as Stein-Leventhal syndrome is a hormonal disorder characterized by enlarged ovaries and formation of numerous small cysts (fluid-filled sacs) on the outer edges of the ovaries. Symptoms of PCOS include irregular periods,
Veterinary Vaccines Market is Expected to Reach $13.51 bn by 2027
The Veterinary Vaccines Market was valued at US $7.91 billion in the year 2018 and is estimated to reach US $13.51 billion by 2027, at a CAGR of 6.13%. Generally, vaccines are effective in preventing infectious diseases. Veterinary vaccines especially reduce the burden of the disease in animals and also helps in preventing several zoonotic diseases also. There are four types of veterinary vaccines available depending on preparation type, they are

All 5 Releases


More Releases for CRM

Online CRM Tools Market 2022: Analysis by Top Key Players - HubSpot CRM, Zoho CR …
Online CRM Tools Market Scope and Overview 2022 This report presents an overview of the global Online CRM Tools industry, including its definition and purpose, application, manufacturing technology, industry chain structure, and major regions. The study also provides a detailed analysis on the various factors affecting the growth of the Online CRM Tools market, such as the development trends of products, key vendors, areas of innovation and major R&D activities in
Hotel CRM Software Market: 3 Bold Projections for 2020 | Claritysoft, Infusionso …
The Latest research study released by HTF MI “Global Hotel CRM Software Market” with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that aid the market growth. Some of the Major Companies covered in this
Restaurant CRM Market SWOT Analysis & Key Business Strategies by Leading Industr …
Restaurant CRM Market provide an comprehensive review of technological advancement, Market size, growth, and share, trends, consumption, segments, application and Forecast 2025 and that report offers a brief knowledge of software that detects or causes a change through the direct monitoring and/or control of physical devices, processes and events in the enterprise. Get Sample Copy of this Report - https://www.orianresearch.com/request-sample/1353698 Market Overview: The Global Restaurant CRM market 2019 research provides a
CRM Market Outlook 2019| HubSpot CRM, Salesforce CRM, Freshsales, Pipedrive, Zoh …
The report begins with an ‘Introduction' section providing an overall view regarding CRM, how CRM benefits an organization and a representation of basic CRM framework showing its operation. It highlights some of the essential features of an ideal CRM solution in the ‘Features of an Ideal CRM' sub-section. The primary modules and types of CRM are discussed along with special emphasis on Social CRM. The section closes with CRM adoption
Hotel CRM Software Market Research Report 2026 With Top Key Players- Salesforce. …
The Global Hotel CRM Software Market 2019 describes an in-depth study of the market aspects such as current size of the industry, consumer demands, futuristic growth opportunities, and prevailing trends & the dynamic view of the market which has different perspectives this report reviews about the technologies, which can help to scale up the growth of the businesses in the near future. The global Hotel CRM Software Market to grow at
Online CRM Software Market is expected to Grow Owing to Rise in Strategic CRM, O …
A new market assessment report titled “Global Online CRM Software Market – Growth, Future Scenarios, and Competitive Analysis, 2018 – 2023”. The market study provides an extensive understanding of the present-day and forthcoming stages of the industry market based on factors such as major sought-after events, research ingenuities, management stratagems, market drivers, challenges and visions and all-encompassing industry subdivision and regional distribution. CRM remains for Customer Relationship Management. In an