A new report by visiongain, a London-based business information provider predicts the global cardiac rhythm management market to be worth $27.8bn by 2021. The market generated $14.6bn in 2010 according to Cardiac Rhythm Management Devices: World Market Outlook, 2011-2021, published in December 2011.
Cardiac rhythm management is a well established segment of the cardiology devices market. Cardiac rhythm management devices are commonly used for the treatment of arrhythmias and heart failure. The cardiac rhythm management market has an opportunity to expand with the increasing prevalence of arrhythmias, especially in emerging economies.
James Sheppard, healthcare industry analyst says ‘The cardiac rhythm management market has enjoyed strong growth over recent years, despite the economic downturn. Although, the market has started to witness slump in the developed markets of the US and EU, there are opportunities for the device makers to expand in the developing economies. Growth will also be driven by new technology such as wireless pacemakers, novel cardiac resynchronisation devices and cardiac ablation devices. Over the course of the next decade there will be greater demand for cardiac rhythm management devices as the number of people suffering from arrhythmias increase.’
Visiongain’s research suggests that the cardiac rhythm management market will benefit from the growth of emerging economies. Increasing wealth in China and India will lead to an increase in lifestyle related disorders and heart problems that may result in the need for a cardiac rhythm management device. Mature markets such as the US and Japan will experience slower growth as the markets reach maturity and achieve high penetration rates.
Cardiac rhythm management is a well established market with significant opportunities to grow. Visiongain’s analysis of the implantable cardioverter defibrillator (ICD), pacemaker, cardiac resynchronisation therapy (CRT) and cardiac ablation pipelines showed a great deal of promise in the future. A number of new innovative products will dominate the market during the forecast period. Visiongain’s analysis of the three main competitors in the cardiac rhythm management market suggests that innovation will drive the market.
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Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100
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