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Cardiac Rhythm Management (CRM) Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016


The Global Cardiac Rhythm Management (CRM) Market is Forecast to Grow at a Rate of 3% Over the Period 2009–2016.

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.

Medtronic, St. Jude Medical and Boston Scientific Corporation Dominate the Global CRM Market with a Combined Market Share of More Than 75%.

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.

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Rapidly Increasing Patient Pool and Better Adoption Rates of CRT and ICD for Treatment of Cardiac Arrhythmias and Associated Heart Failures is the Most Prominent Driver for this Market.

The increasing incidence rate of cardiovascular diseases and associated heart failures is rapidly expanding the patient pool for cardiac rhythm management devices, and thereby fostering the adoption rates of CRT and ICD devices. With


an estimated population of 41 million people suffering from bradycardia, tachycardia, Heart Failure (HF) and Atrial Fibrillation (AF) globally, implantation of CRT and ICD devices to reduce the overall mortality rate is increasing. Most of the guidelines from the American Heart Association (AHA) recommend the timely implantation of these devices in CHF patients since they carry significant risk of unexpected cardiac arrhythmias or associated cardiac arrest. The IMPROVE HF (Improve the Use of Evidence-Based Heart Failure Therapies in the Outpatient

Setting) study of the largest registry of heart patients also recommends more diligent attention to chronic heart failures in women and congenital heart defects in children. This increasing patient base is the most significant contributor to the growth of this market.

The Growth of the Cardiac Rhythm Management (CRM) Market is also Expected to be Driven by Advances in Technology and Significant Number of New Products in Pipeline.

The CRM market has seen a significant advancement in underlying technologies and device capabilities in the past few years and is expected to continue the product driven growth in the future. More than 100 products in the pipeline, including first-in-market product developments, are an indication of increasing focus of manufacturers to invest in Research and Development (R&D) in this market. The CRM market will also be significantly affected by the entry of remote


monitoring capabilities in implanted pacemakers and defibrillators. Remote monitoring will allow physicians to attend to a larger pool of patients without having to fix an appointment. On the other hand, it enables patients to monitor minor complications themselves and helps tackle device abnormalities with immediate attention. These technological developments and focus on product development will help intensify the growth of this market.

US is the Largest Market for Cardiac Rhythm Management (CRM) Devices Contributing About 60% of the Global Revenues.

The US, with revenues worth $6.2 billion in 2009, is the largest market for CRM devices. High incidence rate of cardiovascular diseases with substantial risk of sudden cardiac arrest (SCA) is spurring the adoption of CRM devices. Significant investment in the R&D of these devices by the top market players is boosting technological advancement and thereby improving the physician and patient perceptions.

CRT devices, with a multi-fold growth in the period 2002–2009, contributed to the rapid growth. Though hit by impounding device recalls, the ICD market will continue to impact the CRM market in the future. Whereas the market for pacemakers has attained saturation and will negatively impact the growth of these devices.


European countries such as Germany and Italy with 2009 revenues of $963m and $718m are the next largest contributors to the revenues of the CRM market.

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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