Heart Rhythm Devices Market Size Worth USD 31.37 Billion in 2030
The global heart rhythm devices market size reached USD 18.10 Billion in 2021 and is expected to register a revenue CAGR of 6.4% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of cardiovascular ailments, such as heart failure, atrial fibrillation, coronary ischemia, and others, are driving market revenue growth. Heart rhythm devices are used to treat cardiovascular ailments including arrhythmia or cardiac arrest. According to World Health Organization, 30% of global fatalities are due to cardiovascular diseases, while over 30 million people worldwide are suffering from cardiac arrhythmia. Rapid adoption of novel technologies, such as inclusion of Artificial Intelligence (AI) in biomedical devices, is leading to invention of new and user-friendly devices. In addition, increased patient awareness is also an important factor in surging demands for heart rhythm devices worldwide.
The market for Heart Rhythm Devices is thoroughly examined in the Global Heart Rhythm Devices Market Research Report and Forecast to 2030, which also includes market size and share, current and future trends, and the most recent technological developments. The research provides a complete forecast through 2030 as well as insight into the regional and global competitive landscape of the Heart Rhythm Devices market. The new study offers up-to-date details on the COVID-19 pandemic's effects on the market for Heart Rhythm Devices. It examines how the outbreak changed the political climate and judicial system in each location. Along with providing a present and future, it also examines the economic instability and supply chain disruptions brought on by the disease.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Heart rhythm devices market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Heart rhythm devices market and pinpoint the fundamental growth trends.
The leading market contenders listed in the report are:
Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holding (US), and Koninklijke Philips (Netherlands), Cardiac Science, Livanova, Schiller AG, Biotelemetry, Applied Cardiac System
Global Heart rhythm devices Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
R&D Analysis
Cost-Benefit Analysis
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Competitive Analysis
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Patent Analysis
Vendor Management
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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Some Key Highlights From the Report
The defibrillator segment accounted for largest revenue share in 2021. Increasing number of automated external defibrillators are getting installed in public places such as shopping malls, train and flight stations, and other areas. These defibrillators are popularly known as Public Access Defibrillators (PAD) because they can be used by any novice person in case of an emergency. Increased installation of these defibrillators is driving revenue growth of this segment. According to Cleveland Clinic, automated external defibrillators can be used to treat a patient affected by cardiac arrest, tachycardia (increased heartbeat) as well as bradycardia (slow heartbeat).
The hospital segment accounted for largest revenue share in 2021. Cardiovascular diseases demand highly precise results from high-end medical devices, which are installed largely in hospitals. Thus, availability of heart rhythm medical devices in hospitals accompanied by an increasing number of patients suffering from cardiac fibrillation and other diseases is driving revenue growth of this segment.
The North America market accounted for largest revenue share in 2021. Adoption of modern technologies, surging elderly population, and highly advanced medical infrastructure are major causes of high rate of market expansion in North American countries. According to United Health Foundation, a U.S.-based non-profit organization, over 54 million adult population live in the U.S., as of 2021. This accounts for 16.5% of entire population of the country. It is expected that growing geriatric population of the U.S. is expected to reach 85.7 million by 2050 and it will account for around 20% of entire population in the country. In addition, increasing death rate owing to cardiovascular diseases is generating enhanced demand for heart rhythm devices. According to the Center for Disease Control and Prevention (CDC), annual fatality value in the U.S. is 0.65 million.
Market Overview:
The report bifurcates the Heart rhythm devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
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 (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
Bradycardia
Tachycardia
Heart Failure
Others
End Use Outlook (Volume: Kilo Tons) (Revenue in Million USD; 2019–2030)
Hospitals
Clinics
Ambulatory Surgical Centers,
Home Care Settings
Others
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Key reasons to buy the Global Heart rhythm devices Market report:
The latest report comprehensively studies the global Heart rhythm devices market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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