Global Cardiac Rhythm Management Devices Market to Reach $26.2 Billion by 2015, According to New Report by Global Industry Analysts
GIA announces the release of a comprehensive global report on Cardiac Rhythm Management Devices market. Aging global population, and rising incidence of cardiovascular abnormalities, has ensured steady growth for cardiac rhythm management products. Replacement needs, wider cross-section of eligible patient bases and further decline in the prices of CRM devices will propel global market for Cardiac Rhythm Management Devices to reach $26.2 billion by 2015.
San Jose, CA (PRWEB) June 29, 2009
Cardiac rhythm management devices, the largest segment of the cardiovascular devices market worldwide, comprises of pacemakers, internal cardiac defibrillators (ICDs), external defibrillators, and catheterization, mapping, and ablation devices. The market for Cardiac Rhythm Management Devices continues to gain momentum with rising incidences of cardiac rhythm abnormalities, expanded clinical indications of CRM devices, and technological innovations such as, product miniaturization, development of durable batteries, and biocompatible materials. ICDs, pacemakers, and external defibrillators are witnessing an expansion in application possibilities in addition to its present use in cardiac rhythm management.
Uses of pacemakers have extended from treating heart blocks and bradycardia, atrial arrhythmias to brain and spinal cord injuries, cerebral palsy, Parkinson's disease, severe pain management and certain forms of cardiomyopathy. Cardiac pacemakers, for instance, are being increasingly utilized to eliminate sudden mortality occurrence among epileptic patients. Treatment of Atrial Fibrillation (AF) remains the most unexplored segment of cardiac rhythm management market. Patients on sophisticated dual-chamber pacemakers are less likely to develop atrial fibrillation, or to be hospitalized for heart failure, than those who receive single-chamber pacemakers. Immense growth in the implantation of ICDs during the period 2003-2005, have also resulted in strong growth in the replacements of implants during 2008.
Although these devices have helped save numerous patients lives, and have been approved by the FDA as critical therapies for management of heart failure, technology glitches continue to frustrate functional performance of these devices. Putting behind the shock of product recalls that ravaged manufacturer revenues, and shaved market growth, the cardiac rhythm management (CRM) market is presently shaping up with the beleaguered players stepping up their emphasis on product safety and technology developments. The damage caused by high profile recalls, over the last few years, is likely to be offset by the unabated rise in heart treatment procedures, across the US, Europe, and other developing regions.
As stated by the new market research report, United States represents the largest market for Cardiac Rhythm Management Devices (http://www. strategyr. com/Cardiac_Rhythm_Management_CRM_Devices_Market_Report. asp). The market for CRM devices, although mature in the United States, is forecast to depict steady growth patterns due to the rising number of cardiac related disorders. Global Internal Cardiac Defibrillators market (http://www. strategyr. com/Cardiac_Rhythm_Management_CRM_Devices_Market_Report. asp) is expected to exhibit dynamic growth during the period 2006-2015. Pacemakers market (http://www. strategyr. com/Cardiac_Rhythm_Management_CRM_Devices_Market_Report. asp) in United States will experience a stable growth during 2006-2015 period.
Key players in the marketplace include Boston Scientific Corporation, Bard Electrophysiology, Biotronik GmbH & Co KG, Biosense Webster Inc, Medtronic Inc, Medtronic CryoCath LP, Vitatron Nederland BV, Philips Healthcare, St. Jude Medical Inc, and Sorin Group among others.
The report titled "Cardiac Rhythm Management (CRM) Devices: A Global Market Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, key regional markets, product overview, product introductions/innovations, profiles of major players, and recent industry activity. The report analyzes market data and provides analytics in value sales for regions including the United States and Rest of World. The study also analyzes the Cardiac Rhythm Management Devices market by the following product segments - Internal Cardiac Defibrillators, Pacemakers, External Defibrillators, and Catheterization, Mapping, and Ablation (CMA).
For more details about this comprehensive market research report, please visit - http://www. strategyr. com/Cardiac_Rhythm_Management_CRM_Devices_Market_Report. asp (http://www. strategyr. com/Cardiac_Rhythm_Management_CRM_Devices_Market_Report. asp)
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Global Industry Analysts, Inc., (GIA) (http://www. strategyR. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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