Rhythm Machines Market Size, Share, Growth, And Industry Analysis, By Type (High-end Rhythm Machines, Mid-low end Rhythm Machines), By Application (Professional Musician, Amateur), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Rhythm Machines Market Report Overview

• 
• Request a Free sample to learn more about this report

global rhythm machines market size was USD 69 million in 2020 and market is projected to touch 105.28 Million By 2031, exhibiting a CAGR of 4% during the forecast period.

An electronic musical instrument known as a rhythm machine produces percussion. Drum machines may create their own sounds or mimic drum kits and other percussion instruments. The majority of contemporary drum machines let users programme their own rhythms. Drum machines may play recorded samples or produce sounds using analogue synthesis. Cardiac rhythm management (CRM) devices are frequently used to treat a variety of disorders, including arrhythmia, bradycardia, tachycardia, and abrupt cardiac arrests. The usage of cardiac management devices has dramatically grown over the past ten years as a result of the rising prevalence of cardiac rhythm disorders. Additionally, due to a larger frequency of cardiac problems, rising product knowledge among the populace, and rising per capita income, emerging countries are seeing a tremendous demand for these devices. The European Cardiac Society reports that in 2017, the implant rate in several Western European nations exceeded 1000 units per million people. The increased uptake and patient preference for cardiac rhythm control devices may be shown in the higher rate of implants in industrialized countries. 

In the next years, the medical devices market is anticipated to grow as a result of rising R&D expenditures by medical technology businesses and favorable clearance circumstances offered by regulatory bodies.

COVID-19 Impact: Market Growth Was Limited Due to Elective Procedures Being Postponed Due to Coronavirus

The COVID-19 epidemic caused a decrease in hospital emergency room visits and elective procedures. Dental and orthopaedic surgeries, which were seen as less critical or non-life-threatening treatments, saw a noticeable drop in the overall number of surgeries throughout the pandemic. For instance, a 2021 article on the impact of the COVID-19 Pandemic on orthopaedic surgery in Chile found that there was a decline of 22.8% in orthopaedic surgeries during the pandemic, with a 64% decrease in knee arthroplasty and a 41% decrease in hip arthroplasty being noted. Market participants selling diagnostic imaging equipment and devices that were often used for surgeries and other elective treatments including dental and orthopaedic procedures saw a reduction in sales in 2020 compared to 2019.

Latest Trends

"Growing Customer Preference for Wearable Devices Driving Industry Growth"

The rising emphasis on fitness among people throughout the world and the increased attention given to monitoring and diagnosis by local and national healthcare organizations have both played a significant role in raising the market for fitness trackers. Fitness trackers and activity monitors are still highly preferred due to their simple usage and benefits, despite the drawbacks of wearable technology, such as security and data privacy issues. The demand for these devices increased in the market as a result of the COVID-19 pandemic epidemic and growing public health concerns. For instance, 45% of Americans, according to a poll done by ValuePenguin in March 2022, use fitness trackers. Additionally, 69% of Americans say they feel comfortable using these devices if they receive a health insurance discount.

Rhythm Machines Market Segmentation

• 
• Request a Free sample to learn more about this report
• By Type Analysis

According to type, the market can be segmented into high-end rhythm machines, mid-low end rhythm machines. High-end rhythm machines are anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into professional musician, amateur. Professional musician will be the dominating segment.

Driving Factors

"Worldwide market is expected to be driven by the defibrillator sector"

Defibrillators are often used to treat arrhythmia and cardiac arrests that occur outside of a hospital. Medical professionals strongly advise using an implantable cardioverter defibrillator (ICD) to treat irregular heartbeats. This device also administers electric shocks to restart the heartbeat. In order to address the rising incidence of out-of-hospital cardiac arrests, external defibrillators are frequently implanted in both developed and developing countries. Additionally, in certain nations, it is required to put external defibrillators in public locations to provide quick access to the cardiac patient. In 2018, it was predicted that defibrillators held 49.0% of the market share. 

"Demand for portable devices will increase as homecare settings become more prevalent propel market growth"

The treatment of people with these diseases and the increased frequency of chronic medical disorders are placing enormous strain on the healthcare systems across the world. As a result, the cost of treating these disorders worldwide increased significantly. The total cost of caring for a patient while they are an inpatient in a hospital is much higher, and longer hospital stays are linked to a greater financial burden. For instance, therapy provided in a hospital-at-home environment is around 30% less expensive than treatment provided in a hospital setting, according to research released by Johns Hopkins University in 2022. There is a paradigm change in the people's choice for home healthcare services as a result of the rising cost of living and population over 60. Additionally, the usage of home healthcare services is fast expanding in developed nations as a result of increased efforts by major actors and healthcare organizations to develop and introduce innovative and simple-to-use medical equipment, such as portable and wearable gadgets for the treatment of chronic diseases.

Restraining Factors

"Inadequate Reimbursement Policies and High Device Costs in Emerging Markets Will Limit Market Growth "

The previous ten years have seen changes in the medical device sector, including the use of new technologies and the preparation of new design revisions. The high cost of these gadgets, which includes a significantly higher acquisition cost and ongoing maintenance charges, raises the entire cost of ownership of the equipment. Some of the more modern gadgets are connected to many additional parts, including chips, batteries, sensors, and other accessories, which need to be replaced on a regular basis.

Rhythm Machines Market Regional Insights

• 
• Request a Free sample to learn more about this report

"North America is predicted to be the dominating region during forecast period"

The cardiac rhythm management devices market share is predicted to be dominated by North America, which brought in USD 5.91 billion in sales in 2018. The market in North America is anticipated to be driven by more use of pacemakers and ICD implants as a result of the progressive shift in patient preference towards preventative treatment and the rising prevalence of cardiac disorders. Furthermore, it is anticipated that the stringent enforcement of government laws regarding the placement of external defibrillators in public areas would lead to increasing usage of these devices, which will ultimately enhance the market.  During the projected period, a higher frequency of sudden cardiac arrests in Europe is anticipated to boost the market there. The market in Asia Pacific is expected to grow faster as a result of increased acceptance of cardiac management devices, which is estimated to improve awareness of these devices in the region and cost North America USD 5.91 billion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Novation (Focusrite) (U.K.)
• Roland (Japan)
• Native Instruments (Germany)
• Korg (Japan)
• Zoom (U.S.)
• Arturia (France)
• Elektron (Sweden)
• Alesis (U.S.)
• Sequential (U.S.)
• Singular Sound (U.S.)
• MFB (U.K.)
• Teenage Engineering (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.