Cardiac Rhythm Management Devices Market Trends

Growth Drivers

• Rising awareness of cardiovascular health - Increased public awareness of cardiovascular health due to media coverage, educational programs, and healthcare campaigns is a major factor driving the global cardiac management devices market. People are starting to realize how important it is to get regular heart exams and early intervention. According to data provided by CDC; between 2008 and 2014, the adjusted rate of adults who knew to call 9-1-1 when someone had a heart attack increased from 91.8% to 93.4% in 2014 and 94.9% in 2017 respectively.
  
  As a result of this greater knowledge, people and healthcare providers alike are taking a proactive approach to heart health and implementing cutting-edge cardiac management devices. Early diagnosis, treatment, and cardiac rhythm management devices market expansion all benefit as a result.

• Growing adoption of wearable technologies and mobile health applications - The proliferation of wearable technologies, such as smartwatch, fitness trackers, and mobile health applications, offers new opportunities for continuous cardiac monitoring and personalized health management. Wearable devices equipped with built-in sensors can track vital signs, heart rate variability, and activity levels, providing valuable data for assessing cardiovascular health and detecting early signs of cardiac abnormalities.
  
  As per National Heart, Lung and Blood Institute, US; one-third of Americans use wearables for health and fitness tracking. Over 80% of these individuals would share device data with their doctors for health monitoring.

• Digitalization and health data integration - The cardiac rhythm management devices market's expansion offers chances for integrating digital health solutions. Continuous monitoring and individualized care can be provided by remote monitoring, telemedicine, and data analytics, which can improve the effectiveness of cardiac management.
  
  The move to digital health creates opportunities for collaborations between tech firms and device makers. As observed, Data integration software has been used by approximately 45% of healthcare services worldwide.

Challenges

• High cost of maintenance - A significant challenge is the high cost of advanced cardiac management devices, including initial implantation and ongoing maintenance. Access to these lifesaving technologies, particularly in regions where health budgets are under pressure, may be limited by affordability concerns.

• Lack of skilled professionals - There is a shortage of healthcare professionals and physicians with the necessary expertise to handle cardiac monitoring devices including ECG devices, new cardiac pacemakers, and defibrillators implanted in patients with heart rhythm problems or congestive heart failure. This shortage is prevalent in most countries and is likely to impact the cardiac rhythm management devices market.