Cardiac Rhythm Management Devices Market to Surpass USD 35 Billion by 2026

The global cardiac rhythm management devices market was valued at USD 19.05 billion in 2017, and is projected to exhibit a CAGR of 7.5 percent from 2018 – 2026. Cardiac Rhythm Management (CRM) devices perform many functions, including monitoring for arrhythmias, bradycardia pacing, cardiac resynchronization for heart failure, defibrillation and anti-tachycardia pacing for tachyarrhythmias. In the past few decades, use of cardiac rhythm management devices has increased worldwide due to increase in life expectancy and technological developments in products such as cardiac resynchronization therapy (CRT). Increasing consumption of caffeine is the most common factor linked with abnormal heart rhythms. Furthermore, excessive consumption of red wine can lead to symptoms of arrhythmias. Substances such as automobile emissions, cigarette smoke, pollution from industrial plants, paint thinners, and propane gas can also result into problems related to cardiac rhythms.

However, high product price and infection risks associated with product implantation are the major concerns for manufacturers, as these are obstructing the product adoption. As per the study published by the National Cardiovascular Data Registry 2014, implantable cardioverter defibrillator infection rate has been reported to be around 1.7 percent. It is the third leading cause of complications occurs due to CRM devices. According to a study published in Health Affairs, the average price for a dual-chamber pacemaker in Germany was USD 1400 in 2014 and in the US, it was USD 4200. Moreover, risks associated with product design are major concern for developers. In November 2018, Boston Scientific issued a hazard alert in Australia regarding its SQ-RX Model 1010 Pulse Generator in some of the first-generation subcutaneous implantable cardioverter defibrillator (S-ICD) systems.

Future innovations in CRM products is expected to shift from transvenous leads to leadless designs with combinations of different components on a modular basis according to the function required. Moreover, CRM devices with remote controlling such as implantable cardioverter defibrillators and pacemakers can send information from the device to a portable unit, which allows the healthcare professional to monitor the patient condition at any time. – Coherent Market Insights