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Cardiac Rhythm Management (CRM) Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Cardiac Rhythm Management (CRM) Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • April 2021
  • 175 pages
  • ID: 6067897
  • Format: PDF
  • The Business Research Company


Table of Contents

Major players in the cardiac rhythm management (CRM) devices and equipment market are Abbott, Medtronic, Biotronik, Cardiac Science Corporation, and Schiller AG.

The global cardiac rhythm management (crm) devices and equipment market is expected to grow from $8.72 billion in 2020 to $9.62 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.66 billion in 2025 at a CAGR of 4.9%.

The cardiac rhythm management (CRM) devices and equipment market comprise sales of devices that are effective in managing and restoring the heart’s normal function or rhythm. These devices are used to treat and manage arrhythmia-related diseases such as cardiac arrests, heart failure, or cardiac arrhythmias.

Manufacturers of cardiac rhythm management devices and equipment are governed by various regulatory bodies such as the FDA in the USA.The United States Food and Drug Administration recalls any product with safety issues or defects and that can endanger the consumer.

The FDA recalled the Platinium implantable cardiac defibrillator and resynchronization therapy defibrillator due to issues with hardware configuration and functioning. The company had to discard all non-implanted Platinium devices and follow-up with all patients implanted with these devices.

Technologies such as subcutaneous implantable cardioverter-defibrillator (S-ICD) and leadless cardiac pacemakers (LCP) are being developed to overcome complications with transvenous lead and other CRM devices.The novel modular cardiac rhythm management (mCRM) system allows for the coordination of leadless pacing and defibrillator therapy delivery by providing wireless intra-body communication between devices.

This communication is possible by a combination of anti-tachycardia pacing-enabled LCP and S ICD. For instance, Medtronic developed the leadless pacemaker Micra which can be placed in the heart through veins and is self-contained within the heart.

The rising incidences of cardiovascular diseases such as cardiac arrhythmia, ischemic heart disease, and hypertension is driving the CRM devices market.Sedentary lifestyles and medical conditions such as high cholesterol, high blood pressure, obesity, and diabetes are major causes of cardiovascular diseases.

According to the World Health Organization, cardiovascular diseases accounts for about 31% of all global deaths.. Most of these deaths occur due to heart attacks and strokes. As more people suffer from cardiovascular diseases, the demand for cardiac rhythm management and devices is expected to increase.

The risks associated with cardiac rhythm management devices and equipment market is acting as a restraint on the market.CRM devices may pose potential risks such as post-implant infections and contraindications in patients undergoing any type of radiation therapy or diagnosis.

Implantable CRM devices contain complementary metal-oxide-semiconductor (CMOS) which may get damaged due to therapeutic doses of radiation.Also, as the implants are highly sensitive devices, any dysfunction may have life-threatening consequences for the patients.

The considerable number of risks involved in using CRM devices are affecting the growth of the market.

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