Heart rhythm devices Market Forecast to 2030
The global heart rhythm devices market size reached USD 18.10 billion in 2021 and is expected to register a revenue CAGR of 6.4% during the forecast period, according to the latest analysis by Emergen Research. The increasing prevalence of cardiovascular ailments, such as heart failure, atrial fibrillation, coronary ischemia, and others, is driving market revenue growth. Heart rhythm devices are used to treat cardiovascular ailments, including arrhythmias or cardiac arrest. According to the World Health Organization, 30% of global fatalities are due to cardiovascular diseases, and over 30 million people worldwide suffer from cardiac arrhythmia. Rapid adoption of novel technologies, such as the inclusion of artificial intelligence (AI) in biomedical devices, is leading to the invention of new and user-friendly devices. In addition, increased patient awareness is also an important factor in the surging demand for heart rhythm devices worldwide.
The Global Cell Free Protein Synthesis Market research report is a complete document that explains the most recent breakthroughs and advancements in the Cell Free Protein Synthesis industry, using 2019 as the base year and 2022–2030 as the forecast year. The analysis offers insightful data on the market's size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for Heart Rhythm Devices and its important sectors is studied.
According to the World Health Organization, ischemic heart diseases are the leading cause of death worldwide, and treatment options are essential to reducing mortality rates associated with cardiovascular disease. Therefore, companies have to be prepared to respond to the increasing demand for CRM devices.
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The global Heart rhythm devices market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Heart rhythm devices industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holding (US), and Koninklijke Philips (Netherlands), Cardiac Science, Livanova, Schiller AG, Biotelemetry, Applied Cardiac System
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Some Key Highlights From the Report
- The defibrillator segment accounted for largest revenue share in 2021. Increasing number of automated external defibrillators are getting installed in public places such as shopping malls, train and flight stations, and other areas. These defibrillators are popularly known as Public Access Defibrillators (PAD) because they can be used by any novice person in case of an emergency. Increased installation of these defibrillators is driving revenue growth of this segment. According to Cleveland Clinic, automated external defibrillators can be used to treat a patient affected by cardiac arrest, tachycardia (increased heartbeat) as well as bradycardia (slow heartbeat).
- The hospital segment accounted for largest revenue share in 2021. Cardiovascular diseases demand highly precise results from high-end medical devices, which are installed largely in hospitals. Thus, availability of heart rhythm medical devices in hospitals accompanied by an increasing number of patients suffering from cardiac fibrillation and other diseases is driving revenue growth of this segment.
- The North America market accounted for largest revenue share in 2021. Adoption of modern technologies, surging elderly population, and highly advanced medical infrastructure are major causes of high rate of market expansion in North American countries. According to United Health Foundation, a U.S.-based non-profit organization, over 54 million adult population live in the U.S., as of 2021. This accounts for 16.5% of entire population of the country. It is expected that growing geriatric population of the U.S. is expected to reach 85.7 million by 2050 and it will account for around 20% of entire population in the country. In addition, increasing death rate owing to cardiovascular diseases is generating enhanced demand for heart rhythm devices. According to the Center for Disease Control and Prevention (CDC), annual fatality value in the U.S. is 0.65 million.
Market Overview:
The report bifurcates the Heart rhythm devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
- ECG devices
- Product
- ECG devices
- Resting ECG Devices
- Stress ECG Devices
- Holter Monitors
- Single Lead ECG Wires
- ECG Lead Wires
- Others
- Implantable
- External
- Implantable Cardioverter Defibrillators
- S-ICD
- T-ICD
- Manual External Defibrillator
- Automatic External Defibrillator
- Wearable Cardioverter Defibrillator
- Cardiac Resynchronization Therapy Defibrillators (CRT-D)
- Cardiac Resynchronization Therapy Pacemakers (CRT-P)
- Applications Outlook (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
- Bradycardia
- Tachycardia
- Heart Failure
- Others
- End Use Outlook (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
- Hospitals
- Clinics
- Ambulatory Surgical Centers,
- Home Care Settings
- Others
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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