Heart rhythm devices Market to Flourish with an Impressive CAGR during 2020-2027

The global Heart rhythm devices Market is expected to reach USD 30.34 Billion by 2027, according to a new report by Emergen Research. The rise in the prevalence of cardiac diseases, increasing rate of obesity and geriatric population, increasing consumption of alcohol and tobacco, favorable insurance and funding scenarios, and the adoption of technological advances are playing vital role in boosting the market growth of heart rhythm devices.

The rise in heart related diseases is the prominent reason of high number of death globally, according to the World Health Organization (WHO). In 2019, more than 2 million Americans had arrhythmia or atrial fibrillation and is reported one of the most common cause of death globally. Heart rhythm devices is one of the most effective method for the tracking arrhythmia and help prevent death associated with arrhythmia.

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Obesity often leads to vascular illness and raised risk of heart related diseases like heart attack and arrhythmia. In 2019, around 38.2 million children under the age of 5 years were overweight or obese according to the WHO. The prevalence is expected to grow continuously leading to rising incidences of heart related disorder thus the demand for heart rhythm devices is estimated to boom rapidly. In addition, technological advancements is predominantly fuelling the growth in medical devices especially in heart rhythm devices.

Competitive Terrain:

The Global Heart rhythm devices Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

Key players involved in the market such as Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holding (US), and Koninklijke Philips (Netherlands), Cardiac Science, Livanova, Stryker, Schiller AG, Biotelemetry, Applied Cardiac System, Zoll Medical Corporation among others. 

The global Heart rhythm devices market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Heart rhythm devices market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Heart rhythm devices market.

Emergen Research have segmented the global Heart rhythm devices Market on the basis of types, applications, end-users, and region:

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

Bradycardia

Tachycardia

Heart Failure

Others

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

Hospitals

Clinics

Ambulatory Surgical Centers,

Home Care Settings

Others

Key Highlights from the Report

Discontinuation in follow up with physicians is one of the prominent market restraint, to remove the limitation market players are engaged in developing PoC or heart rhythm devices at homecare settings. For instance, in July 2020, AliveCor launched KardiaCare- a digital health subscription service that record ECG of the heart at home without need of any physicians

Heart rhythm devices that are to be implanted such as ILR, ICM and others work for certain time that might hinder market to avoid discontinuation players are engaged in developing optimum products. For instance, in June 2020, Boston Scientific received U.S. Food and Drug Administration (FDA) 510(k) clearance for the LUX-Dx Insertable Cardiac Monitor (ICM) System, a new, long-term diagnostic device implanted in patients to detect arrhythmias associated with conditions such as atrial fibrillation (AF), cryptogenic stroke and syncope

With the rise in the prevalence of arrhythmias, end users like ambulatory centers are emerging owing to its accessibility thus leading players are engaged in collaborating with centers to offer desired products.

Regional Outlook of Heart rhythm devices Market:

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

Italy

France

BENELUX

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

Rest of MEA

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Key Questions Answered in the Report:

What will be the estimated growth rate of the Heart rhythm devices market by 2027?

Who are the prominent distributors, vendors, and manufacturers of the market?

What are the driving and restraining factors of the growth of the Heart rhythm devices market throughout the forecast period?

What are the current and future market trends of the Heart rhythm devices market?

What are the sales and price analysis of the product by types, applications, and regions?

What are the expected opportunities for the companies and new entrants in the coming years?

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