Cardiac pacemaker is a cardiac rhythm management device that sets heart rhythm by sending electrical impulse to heart. The pacemaker cells controls the heart rate directly. It comprises two parts: generator and lead.
The global cardiac pacemaker market is anticipated to grow at a faster rate due to changes in lifestyle resulting in lack of physical activity and unhealthy diet, increasing geriatric population, and growing incidence of cardiovascular diseases. According a study made in American College of Cardiology Foundation, the annual number of Sick Sinus Syndrome patient would increase from 78,000 in 2012 to 172,000 in 2060. Increasing trend of atrio-ventricular blockage is witnessed in Asia-Pacific, and is higher in patients with coronary heart diseases.
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The global cardiac pacemaker market has been estimated based on product types and technology used. Based on product type, the global market has been segmented into implantable and external pacemaker. Based on technology, the global implantable cardiac pacemaker market has been segmented into dual-chamber, single-chamber and bi-ventricular. The implantable cardiac pacemaker segment held the largest share of the market in 2014 and would continue to dominate the market during the forecast period. The segment would also grow at higher CAGR during the forecast period. Based on technology, the dual-chamber segment dominated the market in 2014 and the trend is likely to continue during the forecast period.
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Geographically, the cardiac pacemaker market has been categorized into four regions: North America, Europe, Asia Pacific, and Rest of the World (RoW). North America held the largest share of the cardiac pacemaker market in 2014, followed by Europe, due to continued adoption of premium priced pacemakers and rising incidence of cardiovascular diseases. Asia Pacific was identified as the third largest market for cardiac pacemaker in 2014 and the region is expected to register the fastest CAGR during the forecast period. Large opportunities, improving health care infrastructure, increasing prevalence of cardiovascular diseases, expansion of market players, and rising geriatric population in the region would contribute to market growth.
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Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cook Medical, SORIN Group., Medico, S.p.A. are the major players operating in the global cardiac pacemaker market. The Major players are constantly striving to retain or enhance their market share by developing technologically advanced products.
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