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| Cardiac Rhythm Management Devices Market |
The market for cardiac rhythm management devices was valued at USD 18.8 billion in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 5.50%. increasing incidence of several cardiovascular illnesses, including atrial fibrillation and arrhythmia, among others. By 2030, the number of Americans with atrial fibrillation is projected to reach 12.1 million, according to the Centers for Disease Control and Prevention Various market-related technology developments are also projected to support market expansion.
The market for cardiac
rhythm management devices is among the sectors affected by the COVID-19
pandemic. The delay of cardiovascular treatments has resulted in significant
losses for market participants in respective cardiac rhythm management
segments. As an illustration, Medtronic's heart rhythm dropped by 12%.
2020 compared to 2019
for the management devices segment. ICDs, CRT-Ds, and the sector for pacemakers
were the areas that saw the biggest reduction. sales from the cardiac rhythm
and heart failure segments as well as Medtronic's yearly sales are both
increasing in 2021. Between 2020 and 2021, the company's overall sales
increased by 4.16%.
The global
Cardiac Rhythm Management Devices Market size was valued
at US$ 19.05 billion in
2017 and is expected to witness a CAGR
of 7.5% over the forecast period (2018 – 2026).
With a
40.0% revenue share in 2022, the defibrillators category led the CRM devices
market. The dominance is a result of increasing acceptance, particularly of the
Subcutaneous Implantable Defibrillator and Transvenous Implantable Cardioverter
Defibrillator in important regional markets like the United States, European
nations, China, and India.
The market for cardiac
rhythm management devices is anticipated to expand significantly during the
coming years. The Centers for disease control and Prevention estimate that 12.1
million Americans will have atrial fibrillation. The development of numerous
market-related technologies is also anticipated to promote market expansion.
With the use of Cardiac
Rhythm Management Devices Market patients with problems
with heart rate and rhythm can keep their heart rate within normal ranges.
These devices are necessary for treating severe cardiac problems, including
heart failure, atrial fibrillation, atrial flutter, recent heart attack warning
symptoms, coronary ischemia, inadequate oxygen delivery to the cardiac muscles,
pharmacological side effects, and genetic mistakes, among others.
Given that physical
inactivity is the second greatest cause of mortality in the US, there are
significant public health implications. Inactivity causes morbidity and the
growth of chronic diseases including diabetes and cardiovascular conditions.
According to the WHO, sedentary behavior and inactivity account for roughly 2
million fatalities each year.
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