Research and Markets: Cardiac Rhythm Management Market to Experience Significant Expansion Through 2020

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/26xd8d/medipoint) has announced the addition of the "MediPoint: Cardiac Rhythm Management - Global Analysis and Market Forecasts" report to their offering.

Revenue from the global cardiac rhythm management market, consisting of pacemaker (PM), implantable Cardioverter-defibrillator (ICD), cardiac resynchronization pacemaker (CRT-P) and cardiac resynchronization therapy defibrillator (CRT-D) devices, is forecast to increase at a compound annual growth rate of 4.6% from $10.9 billion in 2012 to over $15.7 billion by 2020.

This growth will come as a result of increasing incidences of arrhythmia and heart failure in global populations, combined with rising market penetration of pacing and pulse generator technology in the Asia-Pacific and South American regions. Programs supporting this type of therapy are increasingly desirable as the global occurrence of cardiac dyssynchrony continues to rise; it is estimated roughly 1% of the population suffers from an irregular heartbeat, although pervasiveness rises to over 20% in elderly people. While tachycardia and bradycardia are the most common indications for treatment, heart failure, diabetes, and obesity can contribute to ongoing rhythm management concerns.

The extremely competitive CRM market is dominated by several key players, who must continue to innovate in the face of mounting pricing pressure and strict regulation as they battle to gain market share.

New technologies being developed, including leadless pacemakers and energy harvesting generators, promise to heighten products sales and new account openings, while industry standards continue to develop in regards to remote home monitoring and rate-adaptive therapy. Ongoing studies investigating applicability and appropriateness of varying rhythm management modalities are expected to further clarify suitable device indications and therapy best-practices, while advances in diagnostics as well as adjunctive therapy will assure better patient outcomes and shorter hospital stays in future years.

Key Drivers during the Forecast Period

- Growing incidences of arrhythmia and heart failure

- Heightened adoption rates in emerging markets

- New advancements in leadless devices and energy harvesting technology

- Increased emphasis on early intervention and primary prevention

- Strong CRM program adoption in hospitals, resulting in new account openings

Key Barriers during the Forecast Period

- High-costing devices to hinder CRM adoption

- Lacking reimbursement expected to limit market expansion and hospital product offerings

- Intense CRM market competition with limited innovation on the horizon

Biventricular Therapy on the Rise as Devices Approved

Newly developed biventricular CRT-P and CRT-D devices are expected to undergo significant market adoption in the coming years as physician adoption increases, additional patient outcomes are published, and average selling price declines. Furthermore, as more centers develop their CRT offerings, hospitals will be looking to implement new programs for advanced CRM, to enable their physicians to begin implanting the devices.

Despite higher prices when compared with single-chamber pacemakers, dual-chamber and biventricular CRT-P products have experienced notable rises in procedure volumes, driving growth in total sale revenue from these market segments.

Currently, dual-chamber devices account for the largest segment of the CRM market, although CRT is experiencing adoption rates similar to what dual-chamber devices did several years ago.

Given improved efficacy, better outcomes and physician partiality, these next-generation devices have expanded considerably beyond the mature US and EU markets, seeking additional markets in developing countries. As CRM sales in emerging markets gain momentum, companies are placing appreciable emphasis on international distribution and global expansion to keep pace with industry progression.

Companies Mentioned

Biotronik

Boston Scientific

Impulse Dynamics

Medtronic

Sorin Group

St. Jude Medical

For more information visit http://www.researchandmarkets.com/research/26xd8d/medipoint

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Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Cardiovascular Devices

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Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Cardiovascular Devices