Global Cardiac Rhythm Management Devices Batteries Market By Product Type (Implantable Cardiac Pacemaker, Implantable Cardioverter Defibrillator, Cardiac Resynchronization Device), By Power Source (Lithium-Iodine Cells, Lithium-Silver Vanadium Oxide Cell, Lithium-Carbon Monofluride Cells, Lithium-Manganese Dioxide), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 520.3 Mn in 2023 and is expected to exhibit a CAGR of 4.3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on research and development activities in order to receive product approvals from the regulatory authorities, and this is expected to drive the global cardiac rhythm management devices batteries market growth. For instance, on July 5, 2023, Abbott, a medical device company, announced that the U.S. Food and Drug Administration (FDA) had approved the AVEIR dual chamber (DR) leadless pacemaker system, the world's first dual chamber leadless pacing system that treats people with abnormal or slow heart rhythms.
Global Cardiac Rhythm Management Devices Batteries Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of things from one place to another.
However, the COVID-19 had positive impact on the global cardiac rhythm management devices batteries market. For instance, in October 2021, according to the arcticle published by National Center for Biotechnolgy Information, a questionnaire-based survey by the European Heart Rhythm Association (EHRA) to assess the influence of the COVID-19 pandemic on Remote monitoring (RM) in cardiac implantable electronic device (CIEDs) demonstrated a strong implementation of RM in patients with pacemakers (PMKs) and implantable loop recorders. For implanted cardioverter defibrillators, CRT-defibrillators, and cardiac resynchronization therapy-pacemaker (CRT-P) devices, a nonsignificant increasing trend was noted.
Global Cardiac Rhythm Management Devices Batteries Market: Key Developments
On October 2, 2023, MicroPort CRM, a pioneering company in the field of cardiac rhythm management, announced the launch of the ULYS Implantable Cardioverter Defibrillator (ICDs) and INVICTA defibrillation lead in Japan.
In June 2021, Medtronic Private Limited, India a medical device company, announced the launch of Micra AV - a miniaturized, fully self-contained pacemaker that delivers advanced pacing technology to atrioventricular (AV) block patients via a minimally invasive approach.
Browse 26 Market Data Tables and 28 Figures spread through 165 Pages and in-depth TOC on “Global Cardiac Rhythm Management Devices Batteries Market”- Forecast to 2030, Global Cardiac Rhythm Management Devices Batteries Market, By Product Type (Implantable Cardiac Pacemaker, Implantable Cardioverter Defibrillator, Cardiac Resynchronization Device), By Power Source (Lithium-Iodine Cells, Lithium-Silver Vanadium Oxide Cell, Lithium-Carbon Monofluride Cells, Lithium-Manganese Dioxide), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
Key Takeaways of the Global Cardiac Rhythm Management Devices Batteries Market:
- The global cardiac rhythm management devices batteries market is expected to exhibit a CAGR of 4.3% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global cardiac rhythm management devices batteries market .
- Among product type segment, implantable cardioverter defibrillator segment is expected to exhibit highest CAGR in the global cardiac rhythm management devices batteries market during the forecast period. For instane, on February 17, 2023, Medtronic plc, a medical device company, had received CE (Conformité Européenne) Mark for the Aurora EV-ICD MRI SureScan (Extravascular Implantable Cardioverter-Defibrillator) and Epsila EV MRI SureScan defibrillation lead to treat dangerously fast heart rhythms that can lead to sudden cardiac arrest.
- Among region, North America is estimated to account for the largest market share in the global cardiac rhythm management devices batteries market, due to product approvals by key market players. For instance, on July 6, 2023, BIOTRONIK, a medical device company, announced U.S. Food and Drug Administration (FDA) approval of its portfolio of Amvia Edge pacemakers and cardiac resynchronization therapy pacemaker (CRT-P), its latest innovation in cardiac rhythm management.
- Major players operating in the global cardiac rhythm management devices batteries market are Medtronic, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Greatbatch, Inc. (Integer), EaglePicher Technologies, LLC, Quallion LLC, and BIOTRONIK SE & Co. KG.
