The heart has a complex electrical system that generates its own electricity which helps to contract and relax in the proper sequence to pump the blood to the body. For the heart to work properly, the chambers must beat in a harmonized way at a resting heart rate between 60 and 100 beats per minute. When the heart’s electrical system malfunctions, the normal rhythm of the heart can be affected, causing the heart to beat too speedily (tachycardia), too slowly (bradycardia) or in an irregular rhythm. The innovative pacemaker delivers the low voltage electrical support to stimulate the heart to beat in a normal synchronized way in patients with bradycardia and heart failure, to help reduce related morbidity and mortality. Thus, the adoption of cardiac pacemaker devices is increasing in the high-risk patients with rising incidence & prevalence of various cardiovascular diseases across the globe. “Meticulous Research” in its latest publication states that, the “global market for cardiac pacemaker is expected to grow at a CAGR of 3.3% from 2017 to 2022 to reach $ 4,629.3 million by 2022.”
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This growth is primarily driven by the rising geriatric population; rise in obesity, sedentary lifestyle, & excessive consumption of alcohol & caffeinated products; increasing burden of cardiovascular diseases; and technological advancements.
According to the Global Health and Aging report presented by the World Health Organization (WHO), the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050, with most of the increase in developing countries as shown in the below figure. According to the WHO, between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. According to the WHO, Europe had the largest percentage share of geriatric population – around 17.3% in 2015 which was around 16.3% in 2010. The percentage share of the geriatric population in North America has increased from 13.2% in 2010 to 14.8% in 2015. This trend of rapid rise in elderly population is also observed in all the other regions globally, which is expected to increase the number of patients suffering from chronic diseases such as cardiovascular diseases, consequently increasing the demand for various health services.
The risk of chronic and infectious diseases increases with age. Among geriatric population, the chronic diseases prevalence rate is 64/1,000 persons. The incidence of chronic cardiovascular diseases such as ischemic heart disease, congestive heart failure and atrial fibrillation is very common in old age population. Thus, the trend of rapidly rising elderly population across the globe is expected to increase the number of patients suffering from chronic cardiovascular diseases, consequently increasing the demand & adoption of various cardiac rhythm management devices including Cardiac pacemakers. Thus, increase in ageing population is expected to indirectly drive the growth of cardiac pacemaker market.
The report provides meticulous analysis of cardiac pacemaker market on the basis of product (implantable cardiac pacemaker, external pacemaker, pacing leads, and pacing analyzer), end-user (hospitals and ambulatory surgery centers), and geography.
The key players analyzed in the Cardiac Pacemaker Devices Market are Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Lepu Medical Technology Co ltd (China), Medico, S.p.A (Italy), Osypka Medical GmbH (Germany), Shree Pacetronix Ltd. (India), and Cook Medical Group (U.S.).
Key Topics Covered in This Report:
- Research Methodology
- Executive Summary
- Market Share Analysis
- Market Insights
- Global Cardiac Pacemaker Market, By Product Type
- Global Cardiac Pacemaker Market, By End User
- Geographic Analysis
- Competitive Landscape
- Company Profiles
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