Cardiac Rhythm Management Devices Market Size, Share, Growth Analysis, By Product(Pacemakers [Implantable, External], Defibrillators [Implantable Cardioverter Defibrillators (ICD) (S-ICD, T-ICD)), By End User(Hospitals & Clinics, Ambulatory Surgery Centers, Others), By Region - Industry Forecast 2024-2031

Cardiac Rhythm Management Devices Market Drivers

High Demand for Minimally Invasive Cardiac Procedures 

• Preference for minimally invasive cardiac procedures among patients has increased rapidly and this trend aligns with cardiac rhythm management devices as well. Easy implantation of cardiac rhythm management devices using minimally invasive procedures is projected to favor the demand for cardiac rhythm management devices in the long run.   

Rising Occurrence of Cardiovascular Diseases 

• The number of people suffering from cardiovascular disorders has gone up significantly in recent years and this trend is expected to keep on supplementing the sales of cardiac rhythm management devices. High use of pacemakers, defibrillators, and cardiac resynchronization therapy devices to correct heart rhythm is slated promote cardiac rhythm management devices market growth.  

Restraints 

Risks Associated with Device Malfunctions 

• Cardiac rhythm management devices are vulnerable to failures and malfunctions just like any other device is. These malfunctions could result in patient hesitancy and stricter regulatory scrutiny, which is expected to slow down the sales of cardiac rhythm management devices in the future and cause loss of trust in cardiac rhythm management technologies.  

Battery Limitations and Need for Replacement 

• Although cardiac rhythm management devices have come a long way in terms of battery life, they still require a replacement from 5 to 10 years after initial implantation. This resulted in necessary repetition of surgical procedures from time to time and hesitancy of patients to commit with the same is expected to impede growth in the global cardiac rhythm management devices industry.