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Global Cardiac Rhythm Management Devices Market Size, Share, Growth and Trends, Forecast 2022 – 2031

Kenneth Research has recently added a report titled  Global Cardiac Rhythm Management Devices Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Cardiac Rhythm Management Devices Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Cardiac Rhythm Management Devices Market is valued approximately USD 15.74 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.4 % over the forecast period 2020-2027. Cardiac Rhythm Management Devices are part of electrophysiology, which is used to manage the functioning of the heart. Integration of artificial intelligence provides information by patient monitoring and their physicians about abnormal health activities of their patients. Further, increasing obesity, heart related deaths, health conscious people, cost-effective method and strategic development between hospitals and manufacturers has led the adoption of Cardiac Rhythm Management Devices across the forecast period.

For instance: According to the World Health Organization (WHO), 30% of deaths are caused due to cardiovascular diseases globally. The photoplethysmography technology support in wearables such as fitness trackers and smartwatches can enhance Atrial Fibrillation (AFib) detection and screening. For Instance: Apple Watch can check for irregular heartbeats that can be the result of AFib. Their results have been proved by the APPLE HEART Study at the 2019 American College of Cardiology (ACC) meeting. However, high costs and therapeutic radiation used in cancer treatment can influence the operation of a patient with implantable cardiac rhythm devices impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing prevalence of cardiovascular disorders and rise in the use of ambulatory & home services for cardiac monitoring, the adoption & demand for Cardiac Rhythm Management Devices is likely to increase.

The regional analysis of global Cardiac Rhythm Management Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing geriatric population, adoption of artificial intelligence and promptness & affordability of health monitoring services coupled with the well-established healthcare infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising incidences of diseases, increasing efforts to create awareness, such as Japan’s smoke-free policy implemented for the 2020 Olympic Games, and improving healthcare infrastructure would create lucrative growth prospects for the Cardiac Rhythm Management Devices market across Asia-Pacific region.

Major market player included in this report are:

Physio-Control, Inc. (Stryker)
Schiller AG
Medtronic
Abbott Laboratories
Boston Scientific Corporation
Koninklijke Philips N.V.
Zoll Medical Corporation
BIOTRONIK
Progetti Srl
Berlin Heart GmbH

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Type:
Pacemaker
Defibrillators
Cardiac Resynchronization Therapy (CRT)

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Cardiac Rhythm Management Devices Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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