Transparency Market Research Report Added "Cardiac Rhythm Management (CRM) Devices Batteries Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024"
Albany, NY -- (SBWIRE) -- 03/17/2017 -- Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Overview
Rising prevalence of arrhythmic patients globally have resulted in increasing number of CRM devices implantations thus, escalating the market growth over the forecast period. CRM devices are placed in the upper chest of the patient's body to help control irregular heartbeats or arrhythmias. Arrhythmias can arise as a result of several reasons including myocardial infarction, myocardial ischemia or due to electrolyte imbalance and drug toxicity. CRM devices are battery powered devices that help keep track on heartbeats of a patient. These include, ICD's, ICP's and CRT devices.
Most of the CRM device manufacturers sell their own batteries and have begun to capitalize on improving their overall battery performance so as to extend the lifecycle of their CRM devices. This has led to substantial increase in production capacity of batteries in the near future. CRM devices are powered by various battery chemistries. However, newer devices that utilize lithium manganese dioxide do not suffer with the midlife charge time issue that has increased their sales significantly. Also, introduction of leadless pacing have pushed the battery manufacturers to introduce batteries with improved chemistry and technology further driving the revenues in global CRM device batteries market.
Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Drivers and Trends
Significant investments in the lithium battery supply chain and the growing need of cheaper yet safer lithium batteries has resulted in increasing sales of the CRM devices batteries. However, huge amount of data supporting the number of CRM devices recalls have significantly affected the sales of such devices over the forecast period. One of the primary reason for this is devices suffering issues with battery depletion. Others include capacitor complications and voltage issues.
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The report is a combination of primary and secondary research.
Globally, rising number of patients with increased risk of developing life-threatening ventricular arrhythmia is expected to fuel the demand for ICD devices over the forecast period. Recent introduction of ICD with dual function modality is expected to create higher revenues for the segment in the coming years. However, the type of battery chemistry utilized to power such devices that has significantly gained prominent market share is lithium silver vanadium oxide followed by lithium iodide cells. This is attributed to low self-discharge rates and high cell potential of these batteries leading to low current currents and improve longevity.
Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Research Methodologies
Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the cardiac rhythm management devices batteries market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory framework.
The market overview section of the report includes qualitative analysis of the cardiac rhythm management devices batteries market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country, by product type and power source along with competitive landscape by key players have been provided which explain the intensity of competition in the market considering different geographical locations. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market.
Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Regional Outlook
Geographically, the global cardiac rhythm management devices batteries market has been segmented into five regions with North America leading the market in 2015 followed by Europe and Asia Pacific. The requirement for cardiac rhythm management devices batteries are rapidly growing in Asia Pacific due to rising number of heart failure cases in the region. Also presence of leading battery manufacturers is expected to upsurge the CRM devices batteries revenue in the region. Overall increased penetration of key market players entering into this geography are expected to drive the growth of this market during the forecast period.
Key Players Mentioned in the Report are:
Key companies profiled in the report include follows Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc., Greatbatch, Inc. (Integer), EaglePicher Technologies, LLC, Quallion LLC, and BIOTRONIK SE & Co. KG.
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