The mature US CRM device market will remain fairly flat through 2028, seeing rising ICM procedure volumes and the adoption of premium-priced innovative products offset by flat pulse generator sales and price erosion. Despite the overall CRM market seeing minimal growth, the rapid adoption of new products like leadless pacemakers and S-ICDs highlights the enormous opportunity for innovation, as well as both revenue and market share gains. However, the COVID-19 global pandemic will have a significant impact on the US CRM device market, resulting in lost procedure volumes in the short term followed by a period of recovery.
This Medtech 360 Report provides comprehensive data and analysis on the current state of the US cardiac rhythm management device market across a 10-year period.
Adoption of innovative devices will offset weakening revenue for traditional devices in the US CRM device market.
What is the predicted uptake of novel devices such as leadless pacemakers and S-ICDs? Will leadless pacemakers and S-ICDs become the standard of care?
To what extent does the uptake of premium-priced devices like Medtronic's Micra AV and Boston Scientific's EMBLEM MRI S-ICD offset declining revenue in other markets?
How does the success of a company's ICM device affect sales of other CRM devices? Will the next-generation ICMs offered by other companies be able to compete with Medtronic's Reveal LINQ devices?
The mature CRM device market will remain highly saturated, spurring competitors to innovate to achieve growth.
How do epidemiological trends and new technology influence growth in different pulse generator product segments? How are these trends different compared to the rapidly expanding ICM market?
What factors will create pricing pressures? To what extent will price erosion impact market growth?
How can individual competitors realize growth in this large but saturated market?
Incremental device improvements affect ASPs and the competitiveness of a company's CRM portfolio.
How much of a price premium will be earned by MRI-conditionality across device segments over the forecast period?
To what extent does the addition of new algorithm-based functionalities affect the competitiveness of pulse generator devices?
How will incremental improvements like remote monitoring and extended battery life provide a competitive edge?
The COVID-19 global pandemic will have a negative impact on the CRM market in the short-term.
To what extent will the CRM market, which is made up of largely essential procedures, experience reduced procedure volumes? How will this differ from the nonessential ICM segment?
How will ongoing and planned clinical trials be affected by a strained health care system?
- Cardiac Rhythm Management Devices - Market Insights - United States
Author(s): Drew Wallace
Drew C. Wallace is an analyst on the Cardiovascular Medtech Insights team, specializing in heart valve and cardiac rhythm management device markets. Drew holds a Master's degree in Developmental Biology from the University of Western Ontario. Prior to his current position, Drew worked at the Princess Margaret Cancer Centre on the immunotherapy clinical trial program.