New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Implantable Cardiac Rhythm Management Device Global Market Report 2023" - https://www.reportlinker.com/p06466611/?utm_source=GNW
V., Zoll Medical Corporation, Biotronik, MicroPort Scientific Corporation, Abiomed Inc, Hydrix Limited, Nihon Kohden Corporation, Japan Lifeline Co. Ltd., Lepu Medical Technology (Beijing) Co. Ltd., and LivaNova PLC.
The global implantable cardiac rhythm management device market is expected to grow from $15.37 billion in 2022 to $16.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The implantable cardiac rhythm management device market is expected to reach $20.52 billion in 2027 at a CAGR of 5.7%.
The implantable cardiac rhythm management devices market consists of sales of the leadless pacemaker, insertable cardiac monitor, cardiac leads, and subcutaneous implantable defibrillator (S-ICD).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Implantable cardiac rhythm management devices refer to small battery-operated devices that are inserted inside the body and connected to the heart. It is used to maintain and manage heart rhythm.
North America was the largest region in the implantable cardiac rhythm management device market in 2022. The regions covered in the implantable cardiac rhythm management device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main devices implantable cardiac rhythm management devices are cardiac resynchronization therapy, defibrillators and pacemakers.Cardiac resynchronization therapy (CRT) refers to a particular type of treatment for severe cardiac rhythm issues.
The various applications involved are bradycardia, tachycardia, and others which are used in hospitals, specialty cardiac centers and others.
The increasing prevalence of cardiac disorders is expected to boost the growth of the implantable cardiac rhythm management devices market going forward.Cardiac disorder refers to a type of condition that affects the heart or blood vessels.
Implantable cardiac rhythm management devices are used to help patients with heart failure and reduced left ventricular function to improve systolic function by resynchronizing the heart contraction and restoring normal heart rhythm in the event of life-threatening rapid ventricular arrhythmias.Hence, the increasing prevalence of cardiac disorders will boost the demand for implantable cardiac rhythm management devices.
For instance, according to a report published by the American Heart Association, a US-based voluntary organization dedicated to fighting heart disease and stroke, in 2020, cardiovascular disease (CVD) was responsible for about 19.1 million deaths globally. The age-adjusted mortality rate was 239.8 per 100,000 people. Therefore, the increasing prevalence of cardiac disorders is driving the growth of the implantable cardiac rhythm management devices market.
Technological advancement is the key trend gaining popularity in the implantable cardiac rhythm management devices market.Major companies operating in the implantable cardiac rhythm management devices market are focusing on developing new technologies to sustain their market position.
For instance, in April 2022, Rhythm Management Group PLLC, a US-based company that offers ongoing cardiac device monitoring for implantable cardiac devices, launched RhythmSynergy, a potent new technology platform.It uses machine learning to effectively deliver timely and pertinent clinical insights for patients being monitored remotely who have implantable cardiac devices and wearable devices like blood pressure cuffs, scales, and glucometers.
RhythmSynergy highlights important information and streamlines review processes by fusing clinical knowledge and machine learning technologies. Reviewing, sharing, and analyzing patient data is made simple by its slick, secure architecture and potent reporting features.
In August 2022, Medtronic, a US-based medical technology company, acquired Affera Inc. for an undisclosed amount. Through this acquisition, Medtronic receives access to the Affera Prism-1TM cardiac mapping and navigation platform, which is anticipated to be compatible with both Medtronic therapeutic catheters and a variety of competing technologies. Affera Inc. is a US-based medical technology company that manufactures cardiac mapping and navigation systems for the treatment of patients with cardiac arrhythmias.
The countries covered in the implantable cardiac rhythm management device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The implantable cardiac rhythm management device market research report is one of a series of new reports that provides implantable cardiac rhythm management device market statistics, including implantable cardiac rhythm management device industry global market size, regional shares, competitors with implantable cardiac rhythm management device market share, detailed implantable cardiac rhythm management device market segments, market trends, and opportunities, and any further data you may need to thrive in the implantable cardiac rhythm management device industry. This implantable cardiac rhythm management device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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