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Cardiac rhythm management (CRM) is a well established segment of the cardiology devices market. CRM devices are commonly used for the treatment of arrhythmias and heart failure. Factors like market demand, innovative products, government regulations and reimbursement policies influence the CRM market. The market is facing slowdown in sales but with technological advancements, such as introduction of MRI pacemakers, subcutaneous ICDs, and home automated external defibrillators (AEDs), it is expected to bounce back.
The CRM market is mainly bifurcated into two segments viz. Implantable Cardioverter Defibrillators (ICD) market and Implantable Pacemakers market. For the past several years, pacemakers and ICDs have become a common therapy given to patients suffering from cardiac rhythm abnormalities. ICD is the larger segment of the CRM market in comparison with pacemakers. Sales of both the segments are likely to increase, resulting in the improvement of the overall cardiac rhythm management market. The competition in the global CRM market is intense with few large players viz. Medtronic, Boston Scientific and St. Jude Medical.
The key trends observed within the industry including the shifting focus towards primary prevention. On the development front, there has been a launch of new pacemakers as well as significant technological advancements in ICDs. However, the industry remains threatened by certain challenges. The major factors which will contribute in the growth of the industry include growing ageing population since with age people get more heart diseases, rising obese population, increasing cases of hypertension as high blood pressure is a major risk for heart attack and rising healthcare expenditure.