Global Cardiac Rhythm Management Market to 2028
Global Cardiac Rhythm Management Market to 2028
By Katarina Hronska and Kamran Zamanian, Ph.D., iData Research Inc.
More than 5.4 million cardiac procedures will be performed worldwide in 2022 to manage and monitor heart rhythm.1 Every year, this number increases due to the increasing prevalence of heart disease, obesity and diabetes associated with aging. This article will discuss the key drivers for the growth of these medical devices along with their variable purposes of use.
Cardiac Rhythm Management Trends and Market Overview
The worldwide growth in cardiac rhythm management (CRM) devices can be attributed to the aging of the population. Heart diseases are more prevalent in patients over the age of 55. Therefore, the aging of the population is directly related to the increasing incidence rate of heart disease and the increasing need to address it.
According to the World Health Organization, ischemic heart diseases are the leading cause of death worldwide, representing 32% of all global deaths.2 Consequently, affordable, accurate, and rapid diagnosis, as well as treatment options, are essential to reduce mortality associated with heart disease. Therefore, companies have to be prepared to respond to the growing demand for CRM tools.
Several major competitors in the cardiovascular market are benefiting from the growth of this market, as well as some new entrants who are bringing new technologies to the market.
With the high cost of most CRM tools, North America and Western Europe represent the highest percentage of the total market.1 CRM tools are slowly becoming more prevalent around the world.1
heart disease diagnosis
As cardiovascular disease remains the leading cause of death in the world, timely, inexpensive and accurate detection of abnormal heart rhythms is critical to reduce patient morbidity and mortality. Even though the technology is largely available in high-income countries, it is important to note that low-income countries experience equipment shortages and staff shortages, and hospitals are overcrowded. Therefore, there is a need for public health policies to improve the quality of life of patients with heart disease.
There are several first resort cardiac tests, which may include blood tests, a chest X-ray, a stress test, and an electrocardiogram (ECG). In addition, there are more complex tests that help to obtain detailed information about the patient’s cardiac activity.
Lab systems are commonly used equipment for cardiac testing. These include 3D mapping systems and electrophysiology (EP) recording systems. These systems combine the signals with the CT scan to simultaneously display a cardiac map. With his realistic view of the heart, the doctor can help diagnose and define a heart problem. To perform this procedure, a special laboratory in the hospital is required, which is very expensive. Furthermore, the number of laboratories available in some countries is very limited, making it inaccessible to people living in rural areas or low-income countries. Hence, this market is growing slowly and is facing pressure to reduce prices.1 Many countries do not have a laboratory system, for example, Venezuela, Qatar, Cambodia, Nigeria and others.1
Implantable loop recorders (ILRs) are one type of test available for patients experiencing irregular heartbeat symptoms. Due to the vagaries of symptoms, doctors may want to implant an ILR, which can monitor heart rate for up to three years, to help narrow the scope of the diagnostic process. ILR is one of the fastest growing markets in CRM, with process growth of over 10% annually.1 By 2022, the ILR market is well established in North America and Western Europe.1 At the same time, other regions of the world are in the process of adopting the technology and are expected to experience low double-digit growth in unit sales in the near future.1 The downside of the device is its high cost and the risks associated with the procedure, such as infection, bleeding, and heart and/or blood vessel damage.
Diagnostic cardiac electrophysiology is another rapidly growing market for cardiac diagnostics. During the procedure, a catheter is inserted into the heart area to observe electrical activity. Since the doctor may choose to inspect different parts of the heart, there are several catheters available on the market. Conventional catheters represent the largest share of the market, followed by intracardiac echocardiography (ICE) catheters. The use of ICE catheters is on the rise.1 ICE catheter has received CE and FDA approval for reprocessing, applying downward pricing pressure on the catheter market. This may be beneficial, as ICE catheters are currently quite expensive, which has led to resistance to widespread adoption.
cardiac management equipment
As the incidence of heart diseases increases, so does the need to manage people with cardiac rhythm problems. As of 2021, these are the four most popular implantation methods used to manage irregular cardiac rhythms: pacemakers, implantable cardioverter defibrillators, cardiac resynchronization therapy, and cardiac ablation procedures.
Generally, the implantation of these devices does not disturb a person’s life activities. For a while, people living with pacemakers and implantable cardioverter defibrillators had to avoid MRI machines to avoid messing up the device’s programming. Several manufacturers have recently begun to offer MRI-safe pacemakers. These MRI-compatible pacemakers are more expensive than their non-MRI-compatible pacemakers, which is extremely beneficial to the overall market as more patients choose MRI-safe pacemakers. Medtronic was the first to market in the US with its FDA-approved MRI-safe pacemaker, Revo MRI SureScan,
Pacemakers are the most popular cardiac management device on the market, with more than 1.5 million procedures performed in 2022.1 The device is usually implanted in patients with bradycardia, and it regulates the heart rhythm by sending electrical impulses.3 There are four types of equipment available on the market right now: single-chamber, dual-chamber, triple-chamber and leadless. The fastest growing market in terms of unit sales is the lead-free pacemaker market. However, on the basis of absolute value, the dual chamber pacemaker market will witness the highest growth.1 Although the lead-free pacemaker is a relatively new technology, preliminary reports regarding its long-term performance and benefits are promising, including fewer complications, few system modifications, and stable pacing parameters.
Implantable cardioverter defibrillators (ICDs) are implanted in patients at risk of sudden cardiac arrest. Clinical trials have shown that ICDs significantly improve a patient’s chances of survival compared to prescribed antiarrhythmic drugs, such as amiodarone. Similar to pacemakers, there are four types of ICD devices on the market: single-chamber, dual-chamber, triple-chamber, and subcutaneous. The fastest growing market is expected to be the S-ICD market in terms of unit sales and market value, outpacing even the leading dual chamber ICD market.1 Boston Scientific Sign The S-ICD was the world’s first S-ICD to provide protection for patients at risk of sudden cardiac death while avoiding the risks and complications associated with transvenous leads. One of the main market limitations is the high prices for the implants, which vary from $30,000 to $40,000.
Cardiac resynchronization therapy (CRT) devices improve the pumping action of the heart, especially in patients with left ventricular dysfunction and electrical desynchronization between the right and left ventricles. The device market includes cardiac resynchronization therapy-pacemakers (CRT-P) and cardiac resynchronization therapy-defibrillators (CRT-D). CRT-D devices are very popular, partly because they have the ability to deal with most types of arrhythmias and can act as a defibrillator in case of a sudden cardiac event. Medtronic is leading the market with its claria MRI-compatible CRT-D devices, as well as Wide, And MRI MRI with CRT-D devices surescan technology.1
The global CRM market has been growing and developing dramatically in the past, and it is expected to maintain growth as the needs of the population increase. ICDs and CRTs are the largest markets and are expected to overtake pacemakers in the near future.1 Medtronic remains the market leader worldwide.
- iData Research Inc. Global Cardiac Rhythm Management Device Market – 2022. Published on December 2022. https://idataresearch.com/product/cardiac-rhythm-management-market, Accessed December 2022.
- World Health Organization. (Ra). top 10 causes of death, World Health Organization. Retrieved on July 19, 2022, from https://www.who.int/news-room/fact-sheets/detail/the-top-10-causes-of-death
- Cardiac Rhythm Management Device, Australian Journal of General Practice. (Ra). Retrieved on July 19, 2022, from https://www1.racgp.org.au/ajgp/2018/may/cardiac-rhythm-management-devices/
About the Author:
Katarina Hronska is a Research Analyst at iData Research. She works on research projects regarding the medical device industry, publishes Global Cardiac Rhythm Management Devices, Electrophysiology and Cardiac Ablation research report.
Kamran Zamanian, PhD, is the CEO and founding partner of iData Research. He has spent over 20 years working in the market research industry with a dedication to the study of medical devices used in the health of patients around the world.
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