Heart Rhythm Devices Market Growth – at a CAGR of 6.8% During Forecast Period 2019-2027

Increasing prevalence of cardiovascular diseases, availability of favorable reimbursement plans, and high focus on developing advanced heart rhythm devices are some factors expected to drive market revenue growth   

Emergen Research has published its latest report titled, “Heart Rhythm Devices Market Size, Share, Trends, By Type (ECG, Pacemakers, Defibrillators, Implantable Loop Recorders), By Application (Bradycardia, Tachycardia, Heart Failure), By End Use (Hospitals, Clinics) and By Region, Forecasts To 2027”

According to Emergen Research, the global heart rhythm devices market size was USD 17.91 billion in 2019 and is expected to reach USD 30.34 billion in 2027 and register a revenue CAGR of 6.8% during the forecast period, 2020-2027.

Market Dynamics:

Heart rhythm devices are small battery-powered devices that are widely used for treating sudden cardiac arrests, tachycardia, arrhythmia, and tachycardia among others. Various market players are investing for developing advanced cardiac rhythm management devices including pacemakers, implantable loop recorders, defibrillators due to increasing prevalence of cardiovascular diseases such as atrial fibrillation, arrhythmia, heart failure, and congenital heart disease worldwide.

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Revenue growth of the global heart rhythm market is significantly driven by factors such as rising risks of developing cardiovascular diseases due to excess alcohol consumption, high blood pressure and obesity, rapid advancements in heart rhythm devices, and high adoption of advanced devices in many hospitals and ambulatory surgical centers. In addition, increasing geriatric population, high adoption home care settings, and increasing funds by private and public organizations are other factors expected to boost market growth during the forecast period.     

However, high cost of advanced heart rhythm devices, stringent product approvals and frequent product recalls and high risks associated with cybersecurity are some key factors that can hamper global market growth to a certain extent during the forecast period. In addition, dearth of skilled healthcare professionals and unavailability of latest equipment and treatment owing to budget constraints, especially in the developing countries are expected to hamper market growth going ahead. 

COVID-19 Impact Analysis 

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Ambulatory Surgical Centers Segment to Register Rapid Revenue Growth:

The ambulatory surgical centers segment is expected to register rapid revenue growth over the forecast period. Factors such as rising cases of cardiovascular diseases, increasing preference for ambulatory surgical centers due to cost-effective services and same day discharge policies, and increasing number of ambulatory care centers worldwide are expected to drive revenue growth of the segment during the forecast period. 

Defibrillators Segment to Account for Significant Revenue Share:

The defibrillators segment is expected to account for significant revenue share between 2020 and 2027 owing to increasing cases of atrial fibrillation and arrhythmia, availability of latest defibrillators, and rising demand for subcutaneous and transvenous implantable cardioverter defibrillators.  

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North America to Lead In Terms of Revenue Share: 

North America is expected to account for largest revenue share in the global market during the forecast period. This can be attributed to increasing prevalence of cardiac diseases and obesity across the region, rising geriatric population, availability of advanced cardiac care devices, and rising product launches. In addition, presence of skilled professionals and leading market players, favorable reimbursement schemes, and increasing investments in R&D activities are other factors expected to drive North America market growth. 

Major Companies in the Market Include:

  • Medtronic
  • Boston Scientific
  • Abbott Laboratories
  • GE Healthcare
  • BIOTRONIK
  • Hill-Rom Holding
  • Koninklijke Philips
  • Cardiac Science
  • Livanova
  • Stryker
  • Schiller AG
  • Biotelemetry
  • Applied Cardiac System
  • Zoll Medical Corporation 

For the purpose of this report, Emergen Research have segmented the global heart rhythm devices market on the basis of type, application, end use, and region:

Type Outlook (Revenue in Billion USD; 2017–2027)

  • ECG devices
    • Product
      • Resting ECG Devices
      • Stress ECG Devices
      • Holter Monitors
    • Lead
      • Single Lead ECG Wires
      • ECG Lead Wires
      • Others
  • Pacemakers
    • Implantable
    • External
  • Defibrillators
    • Implantable Cardioverter Defibrillators
      • S-ICD
      • T-ICD
    • External Defibrillators
      • Manual External Defibrillator
      • Automatic External Defibrillator
      • Wearable Cardioverter Defibrillator
  • Implantable Loop Recorders
  • Cardiac Resynchronization Therapy (CRT)
    • Cardiac Resynchronization Therapy Defibrillators (CRT-D)
    • Cardiac Resynchronization Therapy Pacemakers (CRT-P)
  • Others

Applications outlook (Revenue in Billion USD; 2017–2027)                  

  • Bradycardia
  • Tachycardia
  • Heart Failure
  • Others

End Use outlook (Revenue in Billion USD; 2017–2027)             

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Home Care Settings
  • Others

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/heart-rhythm-devices-market

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • BENELUX
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of MEA

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