Market Research Reports, Inc. has announced the addition of “MediPoint: Cardiac Rhythm Management - Global Analysis and Market Forecasts” research report to their offering.
Lewes, DE -- (SBWIRE) -- 12/17/2013 -- The global cardiac rhythm management (CRM) market is set to experience significant expansion and emerging market adoption, with revenues climbing from $10.9 billion in 2012 to more than $15.7 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 4.6%.
The latest report states that the US held the largest CRM market share in 2012, with 55%, and will continue to do so in 2020 – despite the potential slowing effect of Obamacare on revenue growth – with 45%. The 5EU countries – France, Germany, Italy, Spain and the UK – followed in 2012, with a share of 29%, which is due to rise to 32% by the end of the forecast period.
The anticipated expansion of the global CRM market will result from increasing incidences of arrhythmia and heart failure in the global population, combined with the growing market penetration of pacing and pulse generator technology in the Asia-Pacific and South American regions.
The lead analyst of this report says: “The extremely competitive CRM market is dominated by several key players, who must continue to innovate in the face of mounting pricing pressures and strict regulation as they battle to gain market share.
“New technologies currently under development, such as leadless pacemakers and energy harvesting generators, promise to heighten product sales and boost new account openings, while industry standards continue to develop in regards to remote home monitoring and rate-adaptive therapy.”
However, the CRM market will experience some barriers to further revenue growth during the forecast period. These include the high costs surrounding new CRM devices, along with a subsequent lack of reimbursement, which is also expected to limit hospital product offerings.
“Additionally, healthcare reforms introduced by the US government in 2010, namely the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act, may adversely affect the US medical devices market by increasing pressure on device manufacturers. This could therefore slow CRM growth in what continues to be the world’s largest market shareholder,” Littlefield concludes.
This report provides analysis on the cardiac rhythm management market in 10 major countries (10MM) – the US, France, Germany, Italy, Spain, the UK, Japan, China, India and Brazil.
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