Cardiac Rhythm Management (CRM) is a field of treatment in cardiology. It involves various therapies in administering cardiac arrhythmias (abnormal electrical activity in the heart). CRM majorly consists of devices such as Implantable Cardioverter Defibrillators (ICD), implantable pacemakers, and other CRM monitoring devices.
In early 2000’s, the CRM market experienced several product warnings and recalls, pertaining to quality concerns. This resulted in decreased utilization of the CRM devices. However, life-saving benefits of CRM devices and development of high quality, feature-packed CRM devices have helped the market return to a positive growth in 2007.
Further, a steady growth of the CRM market is expected over the next few years; owing to the favorable drivers and increasing expansion of CRM therapies across different Asian countries (like Japan, India and China).
The ageing population, coupled with the increasing number of cardiovascular diseases and advancement in new innovative technologies, is driving the growth of cardiac rhythm management devices.
Consolidation of the industry through acquisitions and partnerships is also contributing to the growth of the Cardiac Rhythm Management market. Over the last few years, several large competitors have made significant acquisitions to fast-track technology into the market. For instance: Boston Scientific acquired Guidant, St. Jude acquired Advanced Neuromodulation Systems Inc. and Radi Medical Systems. The companies pursue new technologies and strengthen their R&D activities through these acquisitions.
The report forecasts the market size of the Global Cardiac Rhythm Management (CRM) market over the period 2008-2012. Further, the report discusses the segmentation of the total Cardiac Rhythm Management (CRM) market into various geographic regions. It also identifies the major market trends, drivers, and challenges existing for the Global Cardiac Rhythm Management (CRM) market, and profiles some of the key vendors of this market.