Global Cardiac Rhythm Disease Management Market: Snapshot
Cardiac rhythm disease management includes implantable devices, leads and accessories along with external devices to treat and manage arrhythmic conditions. Some of the key devices that are specifically designed for cardiac rhythm disease management (CRDM) include products for either too slow heart rhythm or too fast heart rhythm. These include pacemakers, leads, electrophysiology catheters, implantable defibrillators, ablation products, and information systems for patient management.
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Future CRDM products will focus on complete cardiac disease management comprising expansion of diagnostic and monitoring capabilities to help physicians monitor cardiac diseases and provide improved care, transformation of existing patient and device management tools which include in-home monitoring, wireless systems, and an in-office solutions; physician access to real-time patient information for analysis of heart failure and for better disease management, reduced healthcare costs, and reduced clinic visits; and leading-edge clinical trials to aid identify and treat patients at a risk for cardiac diseases.
Some of the products of cardiac rhythm disease management use returned product analysis as well as multicenter clinical studies for performance observance. The product performance of CRDM products comprise device survival estimates, performance notes, and advisory summaries pertaining to implantable generators, cardiac resynchronization therapy devices, implantable cardioverter defibrillators, implantable pacing and defibrillation needs.
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The number of individuals suffering from heart related conditions stands at an all-time high across the world. Cardiovascular diseases, which account for major chunk of heart diseases, trigger almost 35% of overall deaths globally every year. Some of the risk factors of cardiovascular diseases are smoking, obesity, hypertension, diabetes, and high cholesterol.
Many cardiac devices are developed to help control complexities in heart patients. Some of these are irregular heartbeats, problems with hearts electrical impulse system, slow rate of heart beats, etc. Cardiac rhythm disease management market is the established segment of cardiovascular devices market. These devices are primarily used in the treatment of patients suffering from symptoms of heart failure, atrial fibrillation (AF), bradycardia, and people suffering from irregular heartbeats, i.e. arrhythmias.
Approximately, 35% of the total deaths worldwide are triggered by cardiovascular diseases, which accounts for major part of heart diseases. The high risk factors of the cardiovascular diseases are diabetes, smoking, hypertension, obesity, and high cholesterol levels. Other factors which also relate and vary to the above mentioned factors are sex ratio, ethnicity, and geography. For instance, a leading cause of heart disease is ischemic heart disease. According to a 2014 WHO report, ischemic heart disease accounts for 46% cardiovascular deaths in men and 38% in women.
The global cardiac rhythm disease management market is expanding rapidly. This market is driven by key factors such as rise in cardiovascular and related diseases such as diabetes, change in lifestyle, eating and drink habits, and rise in geriatric population. Other important factors driving the expansion of this market are technological advancements in cardiac devices, higher disposable income, and increase in awareness amongst population about cardiac diseases. However, lack of awareness about new technological developments, lack of skilled expertise, high cost overall treatment and devices are some factors restraining the growth of this market.
Global cardiac rhythm disease management market can be classified on the basis of devices, disease indication, and end-users. In terms of devices, the global cardiovascular rhythm disease management market can be segmented into cardiac rhythm pacemakers, cardiac resynchronization therapy, implantable cardioverter defibrillators, and implantable loop recorder. Cardiac rhythm pacemakers can be further sub-segmented into single chamber pacemakers and dual chamber pacemakers. Cardiac resynchronization therapy can be further sub-segmented into cardiac resynchronization therapy pacemakers and cardiac resynchronization therapy defibrillators.
Implantable cardioverter defibrillators can be again sub-segmented into transvenous implantable cardioverter defibrillators (T-ICDs) and subcutaneous implantable cardioverter defibrillators (S-ICDs). In terms of disease indication, the cardiac rhythm disease management market can be segmented into arrhythmias, symptoms of heart failure, bradycardia, and others. In terms of end-users, the market can be segmented into hospitals, ambulatory and surgical centers, diagnostic centers, homecare settings, and others.
In terms of geography, the global cardiac rhythm disease management market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds major share due to technological advancements & maturity of the market. It is projected in journal Scientific America in 2016, 1.7 million new cardiovascular disease cases were detected in the U.S and the number of cases are anticipated to increase rapidly. The cardiac rhythm disease management market in the region is also anticipated to increase due to high expenditure in the health care sector.
Furthermore, the market in Europe is anticipated to expand due to rising cases of heart and related disease, and rise in geriatric population. The Asia Pacific cardiac rhythm disease management market is projected to expand rapidly in the near future. Factors driving the expansion of this market include rise in per capita income, technological advancements, and increase in investments in healthcare infrastructure. Manufacturers in the industry are eyeing an opportunity in developing countries such as China and India.
Key players operating in the cardiac rhythm disease management market include Medtronic, Boston Scientific Corporation, Biotronik, St. Jude Medical, Inc., Abbott Laboratories, and Sorin Group.