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Published Date: 2016-12-22Number of Pages: 154

Cardiac Rhythm Management (CRM) Devices Batteries Market (Product - Implantable Cardiac Pacemakers (ICPs), Implantable Cardioverter Defibrillator (ICDs), and Cardiac Resynchronization Therapy Devices (CRT-Ds); Power Source - Lithium-iodine Cells (Li/I2), Lithium-silver Vanadium Oxide Cell (Li/SVO), Lithium-carbon Mono-fluoride Cells (Li/CFx), and Lithium-manganese Dioxide Cells (Li/MnO2) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Snapshot

As the availability of safer and cheaper lithium batteries is increasing, the global market for cardiac rhythm management (CRM) devices batteries is likely to attain new heights. CRM devices are designed to improve the health of patients with either too fast or too slow heartbeats. These devices are placed in the chests of patients suffering from arrhythmias or irregular heart rhythms. When a patient suffers from arrhythmias for too long, his/her heart cannot pump enough blood to the body, resulting in emergency situations, and even death. As these devices are powered by batteries, the demand for these devices will reflect in increased demand for these batteries.

According to the findings of Transparency Market Research (TMR), the global market for CRM devices batteries was valued at US$397.3 mn in 2015. The market is expected to expand at a CAGR of 3.0% between 2015 and 2024, reaching US$518.4 mn towards the end of 2024. 

cardiac rhythm management devices batteries market

North America, Asia Pacific to Emerge as Key Markets

North America holds a strong position in the market presently, by virtue of its highly developed healthcare infrastructure and greater incidence of arrhythmias. The  rising number of CRM implants is the prominent factor boosting the market for CRM devices batteries in this region. According to the findings of the U.S. CDC, nearly 750,000 hospitalizations each year in the U.S. are attributed to atrial fibrillation, the most common form of arrhythmia. The mortality rate associated with this condition was 130,000 deaths every year. The 2014 study also highlighted that as many as 2.7 to 6.1 million American citizens had atrial fibrillation. As a result, the number of CRM devices implants are slated to increase even further.

Asia Pacific is another region with great potential. The increasing healthcare expenditures of governments, growing per capita incomes of the middle class, and high prevalence of heart diseases, and growing awareness about heart diseases has been driving the market in Asia Pacific. Moreover, the development of highly efficient, technologically advanced CRM devices has been scooping out more demand. The increasing prevalence of cardiovascular diseases and sudden cardiac arrests will ensure that the demand for these products will continue to grow in China and India.    

Technological Advancements to Ensure Greater Demand for ICDs and ICPs

Based on product type, the global market for CRM devices batteries has been segmented into cardiac resynchronization therapy devices, implantable cardiac pacemakers, and implantable cardioverter defibrillator. Implantable cardioverter defibrillator (ICD) is a device that records the heart rate of patients. The ICD is connected to the chambers of heart via two thin wires. As the heart beats, electric signals are sent to the ICD. As soon as an abnormal heartbeat is detected by this device, it aids the heart restore its normal pace. Cardiac defibrillation uses an electric shock to do this.

An implantable cardiac pacemaker (ICP), on the other hand, is a small device that assists the heart to produce more regular heartbeats with the help of a small electric stimulation. Both of these devices are typically placed under the skin of chest, below the collarbone. A cardiac resynchronization therapy device can be a half-dollar sized pacemaker that ‘resynchronizes’ the heart. As these devices improve the blood flow and efficiency of the heart, several heart patients suffering with moderate to severe symptoms are using these devices.

The efforts of ongoing research and development projects will come to fruition, producing next-generation CRM devices with efficient batteries. The batteries used in the aforementioned devices are expected to undergo significant transformations and upgrading, thereby accelerating demand.

Some of the major companies operating in the global market for CRM devices batteries are EaglePicher Technologies, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Greatbatch, Inc. (Integer), Quallion LLC, Medtronic, and St. Jude Medical, Inc.

Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Overview

Rising prevalence of arrhythmic patients globally have resulted in increasing number of CRM devices implantations thus, escalating the market growth over the forecast period. CRM devices are placed in the upper chest of the patient’s body to help control irregular heartbeats or arrhythmias. Arrhythmias can arise as a result of several reasons including myocardial infarction, myocardial ischemia or due to electrolyte imbalance and drug toxicity. CRM devices are battery powered devices that help keep track on heartbeats of a patient. These include, ICD’s, ICP’s and CRT devices.   Most of the CRM device manufacturers sell their own batteries and have begun to capitalize on improving their overall battery performance so as to extend the lifecycle of their CRM devices. This has led to substantial increase in production capacity of batteries in the near future. CRM devices are powered by various battery chemistries. However, newer devices that utilize lithium manganese dioxide do not suffer with the midlife charge time issue that has increased their sales significantly. Also, introduction of leadless pacing have pushed the battery manufacturers to introduce batteries with improved chemistry and technology further driving the revenues in global CRM device batteries market.

Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Drivers and Trends

Significant investments in the lithium battery supply chain and the growing need of cheaper yet safer lithium batteries has resulted in increasing sales of the CRM devices batteries. However, huge amount of data supporting the number of CRM devices recalls have significantly affected the sales of such devices over the forecast period.  One of the primary reason for this is devices suffering issues with battery depletion. Others include capacitor complications and voltage issues.   

The report is a combination of primary and secondary research.

Globally, rising number of patients with increased risk of developing life-threatening ventricular arrhythmia is expected to fuel the demand for ICD devices over the forecast period. Recent introduction of ICD with dual function modality is expected to create higher revenues for the segment in the coming years. However, the type of battery chemistry utilized to power such devices that has significantly gained prominent market share is lithium silver vanadium oxide followed by lithium iodide cells. This is attributed to low self-discharge rates and high cell potential of these batteries leading to low current currents and improve longevity.

Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Research Methodologies

Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the cardiac rhythm management devices batteries market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory framework.

The market overview section of the report includes qualitative analysis of the cardiac rhythm management devices batteries market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country, by product type and power source along with competitive landscape by key players have been provided which explain the intensity of competition in the market considering different geographical locations. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market.

Global Cardiac Rhythm Management (CRM) Devices Batteries Market: Regional Outlook

Geographically, the global cardiac rhythm management devices batteries market has been segmented into five regions with North America leading the market in 2015 followed by Europe and Asia Pacific. The requirement for cardiac rhythm management devices batteries are rapidly growing in Asia Pacific due to rising number of heart failure cases in the region. Also presence of leading battery manufacturers is expected to upsurge the CRM devices batteries revenue in the region. Overall increased penetration of key market players entering into this geography are expected to drive the growth of this market during the forecast period.

Key Players Mentioned in the Report are:

Key companies profiled in the report include follows Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc., Greatbatch, Inc. (Integer), EaglePicher Technologies, LLC, Quallion LLC, and BIOTRONIK SE & Co. KG.

The cardiac rhythm management devices batteries market has been segmented as follows:

Global cardiac rhythm management (CRM) devices batteries market, by Product Type

  • Implantable cardiac pacemakers (ICP’s)
  • Implantable cardioverter defibrillator (ICD’s)
  • Cardiac Resynchronization Therapy Devices (CRT-D’s)

Global cardiac rhythm management (CRM) devices batteries market, by Power Sources

  • Lithium-iodine cells (Li/I2)
  • Lithium-silver vanadium oxide cell (Li/SVO)
  • Lithium-carbon mono-fluoride cells (Li/CFx)
  • Lithium-manganese dioxide cells (Li/MnO2)

Global cardiac rhythm management (CRM) devices batteries market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA (Middle East & Africa)


 
 
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