Cardiac Rhythm Management Devices Market Size

Cardiac Rhythm Management Devices Market size was over USD 18 Billion in 2023 and is poised to exceed USD 40 Billion by the end of 2036, growing at over 7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cardiac rhythm management devices is estimated at USD 19 Billion.

The need for efficient treatment alternatives has increased due to the rising prevalence of cardiovascular disorders, including atrial fibrillation, cardiac arrhythmias, and heart failure. It was observed by National Library of Medicine, that 10,951,403 fatalities due to CVD (heart disease, 16.9% stroke) happened between 2010 and 2022. The aging population, which is more prone to heart-related conditions, has also aided in the cardiac rhythm management devices market growth. The development of the market has also been significantly aided by technological developments. The accuracy and effectiveness of these devices have increased owing to advancements in wireless communication, smart algorithms, and device downsizing. The treatment of cardiac rhythm abnormalities has also been completely transformed by the advent of pacemakers, cardiac resynchronization therapy (CRT) devices, and implantable cardioverter-defibrillators (ICDs).