According to a new report published by Allied Market Research, titled, โImplantable Cardiac Rhythm Management Market: Global Opportunity Analysis and Industry Forecast, 2021-2030โ Cardiac rhythm management device performs functions such as cardiac resynchronization for heart failure, bradycardia pacing, defibrillation, monitoring for arrhythmias, and anti-tachycardia pacing for tachyarrhythmias. Patients suffering from abnormal heart rhythms often require implants that help manage and control the abnormal cardiac rhythms. The devices that help achieve this aim are called implantable cardiac rhythm management devices. After the implant of such devices in the heart of a patient, he can lead a more active and normal lifestyle with a reduced risk of death due to heart failure and heart attacks. However, certain cautions must be exercised by the patient in some cases such as being away from appliances that cause electromagnetic interference.
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COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
With COVID-19, the supply chain of the raw materials required to manufacture implantable cardiac rhythm management devices has been disrupted in many countries. In addition, the market growth of implantable cardiac rhythm management devices is also declining as the manufacturers of these devices have slowed down their production because of the pandemic. Therefore, COVID 19 is expected to have a significant impact on the implantable cardiac rhythm management market.
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The Asia-Pacific market for implantable cardiac rhythm management is expected to undergo a high growth rate during the forecast period due to the rise in prevalence of cardiac disorders and surge in geriatric population, especially in China.
Revolutionary technological progress in developing advanced implantable cardiac rhythm management devices is transforming the market. This has been made possible due to the increased investments in R&D of these devices by key players in the market.
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- This study presents the analytical depiction of the implantable cardiac rhythm management industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the implantable cardiac rhythm management market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the implantable cardiac rhythm management market.
- Porterโs five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
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Key Market Players
- Asahi Kasei Corporation
- Boston Scientific Corporation
- Integer Holdings Corporation
- MicroPort Scientific Corporation.
- Koninklijke Philips N.V.
- ZOLL Medical Corporation
- ABIOMED
- Berlin Heart
- Jarvik Heart, Inc.
- NIHON KOHDEN CORPORATION
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