Cardiac Rhythm Management Devices Market Expected To Reach US$ 38.56 Bn By 2026
The latest market report published by Credence Research, Inc. “Cardiac Rhythm Management Devices Market Growth, Future Prospects, and Competitive Analysis, 2018 -2026” the cardiac rhythm management devices market was valued at US$ 20.88 Bn in 2017, and is expected to reach US$ 38.56 Bn by 2026, expanding at a CAGR of 6.96 % from 2018 to 2026.
Cardiac rhythm management (CRM) devices market shows a lucrative growth with constant technological advancements driving the market. Advances such as extended battery life and making devices MRI-safe has created a positive environment for the growth of this market. Additionally, enabling wireless functioning of CRM devices and providing self-monitoring options has contributed to the lucrative growth of CRM devices market.
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The CRM devices market has worldwide outreach overcoming the unmet needs of arrhythmia across the globe. North America predominates this market owing to its vast disposable income, suitable reimbursement plans pertaining to CRM devices and presence of major manufacturers across this region. According to the report, National Audit of Cardiac Rhythm Management Devices by heathrhythmalliance.org, the pacemaker implant rate in the U.K. is on a gradual rise, ensuring positive growth of CRM devices market in Europe.
Market Competition Assessment:
The cardiac rhythm management devices market comprises a vast competitive pool, with players constantly striving for advanced technology. Medtronic Plc. dominates the CRM devices market. Its newest technology of leadless pacemaker: Micra is expected to change the market dynamics in the forecast period. Other players holding strong positions in this market are Abbott Laboratories, Inc., Biotronik, Inc., Boston Scientific Corporation, Integer Holdings Corporation, LivaNova, Plc., Philips Healthcare Informatics, Inc. & ZOLL Medical Corporation.