This report from Life Science Intelligence provides the latest market data for the Global Cardiac Rhythm Management Devices Market. Information covered by this report includes:
The global market for cardiac rhythm management devices is expected to reach an estimated $15.5 billion in 2020 and is projected to incerease at a CAGR (2020-2024) of 5.8%. Product segments covered by this report include implantable pacemakers, implantable cardioverter defibrillators, and cardiac resynchronization therapy devices.
This report covers the impact of COVID-19 on the cardiac rhythm management devices market, including a recent forecast from 2020 to 2024. COVID-19 has also impacted leading competitors, such as Abbott, Boston Scientific, Biotronik, and others. The report provides insights into trends, drivers, and limiters of the cardiac rhythm management devices market, as well as highlights potential opportunities.
Implantation procedures of cardiac rhythm management devices witnessed a minor decline in procedure volumes due to the impact of the COVID-19 pandemic. The decline in procedures was very minimal and is expected to rebound and reach pre-COVID-19 levels in the first half of 2021.
Medtronic, Boston Scientific, and Abbott account for approximately 90% of the global market share of cardiac rhythm management devices. Other companies with significant market share include Biotronik and LivaNova.
Innovation in cardiac rhythm management device technology has continued to support the growth of this market. Leadless pacing systems, multipoint pacing, extravascular ICDs, and MRI compatibility are some of the recent improvements in technology that have expanded access to broader groups of patients.