Table of Contents
Cardiac rhythm management (CRM) is a well established segment of the cardiology devices market. CRM devices are commonly used for the treatment of arrhythmias and heart failure. Factors like market demand, innovative products, government regulations and reimbursement policies influence the CRM market. The market is facing slowdown in sales but with the technological advancements such as introduction of MRI pacemakers, subcutaneous ICDs, and home automated external defibrillators (AEDs), the market is expected to bounce back.
CRM market is mainly bifurcated into two segments viz. Implantable Cardioverter Defibrillators (ICD) market and Implantable Pacemakers market. For the past several years, pacemakers and ICDs have become a common therapy given to patients who are suffering from cardiac rhythm abnormalities. ICD segment of the CRM market is the larger segment in comparison with pacemaker. The sales of both the segments are likely to increase resulting in improvement in the overall Cardiac Rhythm Management market.
The present report offers a comprehensive analysis of the worldwide cardiac rhythm management market. The competition in the global CRM market is intense with few large players viz. Medtronic, Boston Scientific and St. Jude Medical. The competitive landscape the global and regional CRM markets, along with the company profiles of the leading players are discussed in detail.
The key trends observed within the industry include shifted focus towards primary prevention. On the development front, there has been launch of new pacemakers and technological advancements in ICDs. But there are certain challenges which the industry is facing as of now. The major factors which will contribute in the growth of the industry include growing ageing population since with age people get more heart diseases, rising obese population, increasing cases of hypertension since high blood pressure is a major risk for heart attack and rising healthcare expenditure.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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