Global Cardiac Rhythm Management Devices Market Overview
The Global Cardiac Rhythm Management Devices Market, valued at $10.8 billion in 2021, is projected to grow at a rate of 8% over the next five years. Increasing prevalence of cardiovascular diseases (CVDs) such as arrhythmia and heart failure, rising geriatric population, technological advancements by manufacturers, and sedentary lifestyle trends are the key factors driving market growth.
Get Free Sample Report: https://meditechinsights.com/cardiac-rhythm-management-devices-market/request-sample/
Understanding Cardiac Rhythm Management Devices
Cardiac rhythm management (CRM) involves implanting a device in the upper chest connected to the heart to regulate abnormal heart rhythms using electrical pulses. CRM devices perform multiple functions including arrhythmia monitoring, cardiac resynchronization for heart failure, bradycardia pacing, defibrillation, and anti-tachycardia pacing.
Technological Advancements Driving Market Demand
Continuous innovation in CRM devices has led to the development of smaller, MRI-compatible, Bluetooth-enabled products with enhanced battery life. Manufacturers are heavily investing in research and global expansion to strengthen their market presence.
In May 2022, MicroPort CRM received NMPA approval for the Platinium ICD with a lifespan of 13–14 years.
In April 2022, Abbott’s Aveir leadless pacemaker received FDA approval in the U.S. for treating slow heart rhythms.
In January 2022, Medtronic secured approval in Japan for its Micra AV Transcatheter Pacing System, one of the world’s smallest pacemakers.
In July 2020, Abbott gained FDA approval for its Gallant ICD and CRT-D devices offering MRI compatibility and improved battery life.
In May 2020, Medtronic received FDA approval for its Cobalt and Crome ICD and CRT-D devices featuring connected health technology.
In March 2019, Biotronik launched 3 Tesla MR conditional ICD and CRT-D devices in Europe with extended battery life.
Rising Burden of Cardiovascular Diseases to Boost Market Growth
Cardiovascular diseases remain a leading cause of global mortality. Conditions like coronary heart disease, cerebrovascular disease, and rheumatic heart disease contribute significantly to the global death toll, with heart attacks and strokes accounting for over 80% of CVD-related deaths.
According to WHO, CVDs cause 17.9 million deaths annually, representing 32% of all global deaths.
CDC data reveals that 659,000 people die of heart disease each year in the U.S., costing $363 billion annually.
Coronary heart disease alone claimed 360,900 lives in 2019 in the U.S., while 805,000 Americans suffer heart attacks each year.
In Europe, CVDs cause 3.9 million deaths annually, including 1.8 million in the EU.
In China, the 2019 CVD mortality rate stood at 364.5 per 100,000 population.
The increasing elderly population, more prone to heart defects due to aging-related structural decline, further accelerates CRM device adoption.
Challenges Hindering Market Growth
While CRM devices offer numerous benefits, several issues hinder widespread adoption, including electrical failures, cybersecurity threats, and high costs.
Electrical failure—often caused by insulation breakdown—can lead to inappropriate shocks or device malfunction. In 2020, Boston Scientific recalled its EMBLEM S-ICD for short-circuit risks, while Abbott recalled its Ellipse ICDs in 2019 due to potential electrical faults.
Cybersecurity vulnerabilities pose additional risks, as hackers could interfere with device functionality. In 2018, Abbott issued an FDA-approved firmware update to address potential security exploits in 350,000 devices.
Despite these challenges, ongoing innovation and improvements in device safety, connectivity, and longevity continue to strengthen market confidence.
Competitive Landscape
The market is highly competitive and dominated by key players including Medtronic (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), BIOTRONIK SE & Co. KG (Germany), Stryker Corporation (US), and Koninklijke Philips N.V. (Netherlands). These companies focus on product innovation, regulatory approvals, and strategic expansion to maintain leadership in the fast-evolving cardiac rhythm management devices market.
Get Report Details @ https://meditechinsights.com/cardiac-rhythm-management-devices-market/
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
