Cardiac Rhythm Management Devices Market Segmentation:
Product Type Segment Analysis
Pacemakers segment is poised to dominate over 38% cardiac rhythm management devices market share by 2035. The segment growth can be attributed to widely adopted technology in the landscape. Pacemakers are a well-known and extensively used technology. In 2022, the segment of pacemakers accounted for around USD 5 billion in revenue. They have a lengthy history of treating a variety of cardiac rhythm abnormalities and have shown to be quite successful in enhancing patient outcomes.
Pacemakers ensure that the heart beats at a regular and suitable rhythm by providing dependable and ongoing monitoring of the electrical signals in the heart. Because bradycardia is becoming more common, people are becoming older, and pacemaker technology is improving, there is always a significant demand for these devices. There are more than 1 million pacemakers installed worldwide each year.
End-use Segment Analysis
By 2035, hospitals segment is estimated to account for largest cardiac rhythm management devices market share. Hospitals offer complete cardiac care, which includes post-operative care, diagnostics, and therapy. They ensure a comprehensive approach to patient management by having departments and healthcare specialists dedicated to the management of cardiac rhythms.
This category boasts cutting-edge facilities, such as intensive care units, operating rooms, and cardiac catheterization labs, all outfitted with the tools required to carry out intricate heart surgeries and procedures. Skilled cardiologists and electrophysiologists with a focus on diagnosing and treating heart rhythm abnormalities are drawn to hospitals. These experts are vital to the process of choosing, implanting, and keeping an eye on cardiac rhythm control devices.
Application Segment Analysis
Arrhythmias segment is anticipated to garner majority market share. This is mostly related to the rising global prevalence of heart attacks and recurrent arrhythmia rates brought on by conditions like sedentary lifestyle problems. For instance, according to the Centers for Disease Prevention and Control (CDC), 12.1 million Americans are estimated to have atrial fibrillation (AFib) by 2030. Furthermore, AFib was listed as the underlying cause of death in 26,535 of the 183,321 deaths that occurred in 2019 according to death certificates.
Our in-depth analysis of the cardiac rhythm management devices market includes the following segments:
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