Market Trends of Europe Cardiac Rhythm Management Devices Industry
This section covers the major market trends shaping the Europe Cardiac Rhythm Management Devices Market according to our research experts:
External Defibrillator (ED) Segment is Expected to Hold a Significant Share During the Forecast Period
An external defibrillator is a device used in case of an emergency cardiac arrest. It is a portable device strategically placed, often in wall cabinets, in locations where large numbers of people gather, and even hospitals keep an external defibrillator or multiple external defibrillators. These external defibrillators give necessary defibrillation (restarting of the heart) treatment within the first critical minutes. There are two types of automated external defibrillators: semi-automated external defibrillators and fully automated external defibrillators. The external defibrillator segment is likely to witness growth during the forecast period owing to factors such as the increasing prevalence of cardiac diseases in Europe and technological advancements in the cardiology field. An external defibrillator is frequently used to treat arrhythmia or irregular heartbeats because the device sends an electric pulse or shock to the heart to restore a normal heartbeat.
A fully automated external defibrillator (AED) automatically delivers a safe, effective shock and can reduce extended delays associated with hesitating to press the shock button during a rescue. R&D is conducted in the European region to demonstrate the efficiency of AED. For instance, as per the article published on NLM in 2021, to increase the rate of defibrillation before the arrival of the emergency medical service (EMS), implementing first responders (FR) systems including both citizens trained in cardiopulmonary resuscitation (CPR) and medical professional equipped with an AED is helpful. Hence such studies and initiatives boost the awareness and importance of the utilization of external defibrillators, thereby fuelling the market growth.
Furthermore, the presence of advanced healthcare infrastructure and a continuous rise in the prevalence of cardiovascular cases in the country is expected to boost the market. For instance, as per BHF 2022 report, in England, around 6.4 million people were living with heart and circulatory diseases in 2021. Additionally, according to the German Heart Surgery Report 2021, 49.5% of heart procedures were performed on patients between the ages of 20 and 69. Thus, all these factors are increasing the demand for external defibrillators, driving the market's growth. Additionally, the presence of competitors, government initiatives, and cardiology awareness programs in the field of the external defibrillator segment is likely to boost the market growth. These factors can increase the chance of the adoption of external defibrillator devices. For instance, in June 2021, the Italian Resuscitation Council's proposals to improve Italy's ability to save lives from sudden cardiac arrest became law. As per this law, AEDs are mandatory in all government buildings, infrastructure, and public transport. Therefore, such government initiatives relating to AED are resulting in the adoption of external defibrillators, which is likely to fuel market growth.
Considering the above-mentioned factors, the external defibrillator segment is likely to witness growth during the forecast period.
United Kingdom is Likely to Witness a Growth in the Market During the Forecast Period
The United Kingdom is expected to have a significant market share in the cardiac rhythm management devices market due to the developed healthcare infrastructure, government initiatives, and the rising burden of cardiovascular diseases. For instance, as per the BHF 2022 report, around 7.6 million people are living with heart and circulatory diseases in the United Kingdom. The same source stated that around 4 million males and 3.6 million females were living with heart and circulatory diseases in the United Kingdom in 2022. Also, around twice as many people are living with heart and circulatory diseases in the United Kingdom than with cancer and Alzheimer's disease combined. Considering the high prevalence of cardiac diseases, the demand for cardiac rhythm devices is expected to increase in the country, which is anticipated to boost market growth.
Furthermore, the presence of competitors, mergers, and product launches in the United Kingdom is likely to boost the market growth. These are expected to have a favourable effect on the market by increasing product availability and enabling more competition. For instance, in March 2022, a personal defibrillator was launched in the United Kingdom, named CellAED. Rapid Response Revival developed the defibrillator to increase access to defibrillators and overcome barriers to their use. The world's first personal, portable defibrillator uses sophisticated technology designed to improve the chances of surviving a sudden cardiac arrest.
Additionally, in February 2022, Ceryx Medical Limited collaborated with scientists at the Auckland Bioengineering Institute (ABI) and the Universities of Bath and Bristol to develop Cysoni. This bionic device paces the heart with real-time respiratory modulation. The innovation stems from the idea that heart rate increases and decreases with each breath in normal physiology, termed 'respiratory sinus arrhythmia (RSA). Owing to the abovementioned factors, the United Kingdom is likely to witness growth in the cardiac rhythm management devices market in the forecast period.
