Cardiac Rhythm Management Devices Market outlook with industry review and forecasts
Category: #business  By Rahul Varpe  Date: 2020-01-14
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Cardiac Rhythm Management Devices Market outlook with industry review and forecasts

Essentially driven by the mounting prevalence of cardiac arrests amid numerous demographics worldwide, cardiac rhythm management devices market size is anticipated to surge appreciably by the end of 2025.

Major breakthroughs in the technology spectrum, like the implanted cardioverter defibrillator, would essentially foster the industry trends in the ensuing years. Additionally, shifting consumer inclination towards implantable cardioverter defibrillator devices over the conventional pacemakers is adding to the increase in market share.

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Introduction to various training workshops for surgeons and patients pertaining to the implantable cardioverter defibrillator equipment has resulted in a surge in the awareness about the product, eventually complementing the business landscape.

An outgrowing demand for the implantable cardioverter defibrillator equipment across the emerging economies of Asia Pacific, Latin America, and Middle East on the grounds of treating the risks of cardiovascular disorders, has positively influenced the industry dynamics over the years. Not to mention, surging presence of major cardiac rhythm management devices manufacturers including BIOTRONIK, SCHILLER, Abbott, and many others, across the world would enable the global industry to be pegged at USD 13.7 billion by the end of seven years term.

These industry giants are rapidly adopting various strategic reforms involving acquisitions and mergers to maintain their strong foothold in the global market. As a matter of fact, BIOTRONIK in early 2019 declared FDA agreement of its Acticor and Rivacor high voltage cardiac rhythm management devices for treating the patients suffering from cardiac arrhythmias.

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The product spectrum of cardiac rhythm management devices market is replete with numerous products such as catheters, bare metal stents, guidewires, IVC filters, embolic devices, sheaths, etc. Of these, IVC filters has been performing exceptionally well over the past years and is expected to grow at a prodigious pace in the upcoming years.

This spectrum is also highly characterized by the pacemakers segment. It is pivotal to mention that the rising occurrences of cardiac arrests, surging geriatric population, unhealthy lifestyle, and technological breakthroughs have enabled the pacemaker sector to emerge as one of the major revenue pockets for the global market.

Reliable sources claim that approximately 63 per cent of the fatalities are recorded due to the lack of proper standard of living which involves a huge young populace. This calls for an urgent need of pacemakers, thereby driving the overall global market between 2019-2025.

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Based on the geographical growth, India has been claimed to be one of the most profitable grounds for the worldwide cardiac rhythm management devices industry. The regional growth is highly ascribed to the burgeoning frequency of cardiovascular diseases and transforming lifestyle changes in the country.

As per trusted sources, the occurrences of stroke and heart diseases in the country have upscaled by 50 per cent from 1990 to 2016. These statistics will boost the product demand across India whilst impelling the business growth.

An upsurge in pervasiveness of the atrial fibrillation has also primarily contributed to the market development over the years. According to authentic studies, nearly one-fifth of adults encounter multiple premature ventricular beats whereas over 1 million Indians are living with atrial fibrillation. These devices promote the treatment of arrhythmias and several other cardiovascular disorders.   

In fact, India cardiac rhythm management devices industry is likely to depict a growth rate of 8.6 per cent through 2025.

Germany cardiac rhythm management devices industry, on the other hand, would gain hefty proceeds in the global cardiac rhythm management devices industry share. Apparently, the region accounted for over $974.1 million in 2018 and is probable to progress at a considerable rate over the upcoming years.

The fundamental factors supplementing the growth prospects of the regional market include increasing occurrence of heart diseases and stimulating cardiac resynchronization therapy equipment across the region. The European Society of Cardiology in 2014 rolled out the statistics claiming that the country processed over 19,000 cardiac resynchronization therapy equipment for the treatment of cardiovascular disorders.

These parameters are responsible to bring about a substantial transformation and advancement in the business space of cardiac rhythm management devices industry allowing it to expand at an appreciable pace in the near future.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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