Cardiac Rhythm Management (CRM) Devices

Jan. 3, 2011 - PRLog -- The global Cardiac Rhythm Management (CRM) market is forecast to grow at a Compound Annual Growth Rate (CAGR) of 3% over the period 2009–2016 to exceed revenues of $14.6 billion by 2016. This market includes pacemakers, Implantable Cardioverter Defibrillators (ICDs) and Cardiac Resynchronisation Therapy (CRT) devices. The growth in this market during the forecast period will be spurred by the increase in population of patients with cardiac arrhythmias and Congestive Heart Failure (CHF) conditions and the continued adoption of CRT and ICDs for their treatment. While the overall market stagnation of pacemakers is expected to slow down the growth, the demand for continuously evolving technologies in CRT and ICD devices will help sustain a modest growth rate. In the forecast period, ICDs are expected to grow at a rate of 5% to reach $6 billion by 2016. This segment will outgrow the pacemakers market which is expected to stay stagnant at $4.8 billion annual revenues between 2009 and 2016. CRTs are expected to grow at the fastest rate of 6% to exceed revenues of $3.8 billion by 2016.

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The global CRM market is dominated by Medtronic, St. Jude Medical and Boston Scientific Corporation. While Medtronic’s CRM business is the largest with revenues accounting for nearly 37% of the global revenues in 2009, St. Jude Medical and Boston Scientific Corporation contribute with market shares of 20% and 19% respectively. Sorin Group and BIOTRONIK with 2% market share each also have significant presence in the market. While the competition is not intense, the top players are significantly affected by device recalls. In spite of the number of recalls being much fewer now than three years ago, the top players are facing a stiff time trying to tackle patient perceptions and physician confidence in the implanted devices.

GlobalData’s new report, “Cardiac Rhythm Management (CRM) Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global cardiac rhythm management devices market. The report provides market landscape, competitive landscape and market trends information the cardiac rhythm management devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

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