North America Cardiac Rhythm Management Devices Market Size (2024 - 2029)

North America Cardiac Rhythm Management Devices Market Analysis

The North America Cardiac Rhythm Management Devices Market size is estimated at USD 7.98 billion in 2024, and is expected to reach USD 11.23 billion by 2029, growing at a CAGR of 9.23% during the forecast period (2024-2029).

A cardiac rhythm management device is an implantable medical device that monitors or regulates the heart's electrical activity to treat various cardiac arrhythmias. These devices are used in several rhythm disorders, such as arrhythmia and other cardiovascular conditions.

Factors such as the surge in the burden of cardiovascular diseases, technological advancements in rhythm management devices, and the rise in the use of ambulatory and home services for cardiac monitoring are anticipated to expedite the market growth during the forecast period.

The increasing prevalence of cardiovascular diseases such as rhythm disorders and atrial fibrillation (AFib) are the major drivers projected to drive the market growth. For instance, according to April 2023 data from the Canadian Cardiovascular Society, atrial fibrillation (AFib) is one of the recurrent types of arrhythmia in clinical practice. It affects around 1% to 2% of the general population, and its risk increases with age.

In addition, according to an article published by the Journal of American Heart Association in April 2024, arrhythmia is a significant comorbidity in the adult congenital heart disease population in the United States. This leads to the high demand for cardiac rhythm management devices such as rhythm management devices, including defibrillators, as they are used to revive patients in an emergency by providing shock. This is anticipated to fuel the industry expansion during the forecast period.

In addition, the launch of awareness campaigns, various programs, and the launch of automated external defibrillator management platforms to promote the importance of fully automated external defibrillators are projected to contribute to the market growth. For instance, in April 2024, Essex-Windsor EMS launched a defibrillator awareness and mapping campaign in Canada. Under this campaign, Essex-Windsor EMS encourages business partners to install automatic defibrillators and promotes their adoption in an emergency.

Similarly, in June 2023, the Lexington Fire Department and the American Heart Association collaborated to launch the LEXSaveLives campaign to promote awareness and education regarding AED (automated external defibrillator) and CPR in the United States. Thus, such awareness and education campaigns are expected to fuel the adoption of rhythm management products in arrhythmia/cardiac arrest, which is anticipated to boost market growth during the forecast period.

The technological advancements in cardiac rhythm management devices, such as the introduction of implantable devices, are expected to drive industry growth in the region. Key players in the industry are undertaking various initiatives to strengthen their business, which will further contribute to the increased adoption of these devices during the forecast period. For instance, in June 2024, Stryker launched a LIFEPAK 35 monitor/defibrillator in the United States to provide life support in emergencies. The newly launched defibrillator is slim, lightweight, and has a portable design. Thus, introducing technologically advanced rhythm management products in North America will likely augment industry uptake during the forecast period.

Therefore, the market is anticipated to grow during the forecast period due to factors such as the high burden of cardiovascular diseases, growing company activities, and rising technological advancements. However, the high cost of devices and stringent regulatory framework about the safety of the products are further expected to impede market growth.

North America Cardiac Rhythm Management Devices Industry Segmentation

As per the scope of the report, cardiac rhythm management is a part of electrophysiology, which is used to manage the functioning of the heart. The last decade has observed an ongoing evolution and the use of cardiac rhythm management devices, including cardiac resynchronization therapy, pacemakers, implantable cardioverter defibrillators, and loop recorders. General practitioners (GPs) are increasingly involved in the follow-up and management of patients with these devices.

The North American cardiac rhythm management devices market is segmented by product and geography. By product, the market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices. By geography, the market is segmented into the United States, Canada, and Mexico.