Cardiac pacemaker is a device that can manage the heart rhythm artificially. The device sends electric pulse to heart to keep the rhythm normal. Technological progress and curbed costs are major driving factor for the global cardiac pacemaker market, which is expected to garner 7.9% CAGR during the forecast period (2017-2023). Market research Future (MRFR) makes a claim in their recently published analysis of the global cardiac pacemaker market that the attainment of the valuation mark would be easier for the market during the forecast period.
Several factors like growing geriatric population, better affordability, technologically-advanced devices, growing health-related issues, and others are expected to help the global cardiac pacemaker market make the leap in terms of growth during the forecast period. However, the market growth can be hampered due to the necessity of surgery for the procedure, which a lot of people wish to avoid. Also, the risk of malfunctioning can be a great deterrent for the market.
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Increasing prevalence of atrial fibrillation (AFib), growing geriatric population, and rising healthcare expenditures are the major drivers for the market growth during the forecast period. The Global Cardiac Pacemaker Market is expected to grow at an approximate CAGR of 7.9% during the forecast period.
Key Players – Cardiac Pacemaker Market
Several companies are promoting the global cardiac pacemaker market substantially to take advantage from the rapidly inflating profits. These companies are launching their own strategies to solidify their market position and their efforts can ensure a holistic growth for the global cardiac pacemaker market.
- Abbott. (U.S.),
- Medtronic (U.S.),
- Boston Scientific Corporation (U.S.),
- LEPU Medical (U.K),
- BIOTRONIK (Germany),
- SORIN Group (Europe),
- OSCOR Inc. (U.S.),
- MEDICO S.p.A. (Europe)
Industry Update – Cardiac Pacemaker Market
April 25, 2019 — A team of scientists from the Georgia Institute of Technology (the US) announced the development of a battery-free pacemaker. The new pacemaker does not require a battery and harvests its energy from the user’s beating heart. Successfully tested on pigs, the new pacemaker uses an “energy harvester”, wrapped around the heart that can generate electricity from the pulsating motion of the muscle.
Each beat of the heart produces sufficient electricity to be able to power the device. The tests demonstrated that the harvested energy was higher than that needed for a human pacemaker. However, it could be some years before symbiotic pacemakers are ready to be implanted safely into human patients.
Regional Analysis – Cardiac Pacemaker Market
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions that have been included in the global cardiac pacemaker market report, conducted by MRFR. This report aims at providing a closer look of the market that would help in the identification of various factors.
The Americas is enjoying the dominance it has over the global market and is expected to continue in the coming years as well by providing substantial backups for the sector. The regional market is enjoying the presence of various factors like robust infrastructure, high technological inclusion, better investment capacity, and others. The rise in geriatric population is also expected to build up market expansion possibility.
Europe holds the second spot and is enjoying similar features like that of the Americas, especially, North America. The regional market has several countries like Germany, France, the UK, and others who are impacting the regional market. The region is also investing much for research and development, which is creating enough scope for market expansion.
The APAC market has several regions like India, China, Australia, Japan, Korea, Thailand, Singapore, and others who are spending substantial money in taking the regional market ahead. The region is also the fastest growing one that can bank on rising healthcare expenditure, huge patient population, better per capita income, and transforming policies to ease the integration process of the global market can make the market grow faster.
Segmentation – Cardiac Pacemaker Market
MRFR’s report on the global cardiac pacemaker market has a sound foundation on segments like type, technology, application, and end-users. This segmentation is amply backed by various volume-wise and value-wise data results.
Based on the type, the Cardiac Pacemaker Market can be segmented into external cardiac pacemaker, implantable, and others. the implantable pacemakers are expected to gain substantial market coverage.
Based on the technology, the cardiac pacemaker market can be segmented into single-chambered, biventricular, dual-chambered, and others.
Based on the application, the cardiac pacemaker market can be segmented into congestive heart failure, arrhythmias, and others. The arrhythmias segment covers tachycardia, bradycardia, and others for a better analysis.
By end-users, the cardiac pacemaker market can be segmented into medical institutes, cardiac care centers, hospitals, and others. the hospitals segment is getting traction due to patients showing high preference for this one. Hospitals are better-equipped to tackle various other aspects as well.
LIST OF TABLES
Table 1 Cardiac Pacemaker Industry Synopsis, 2017 – 2023
Table 2 Global Cardiac Pacemaker Market Estimates And Forecast, 2017 – 2023, (USD Million)
Table 3 Global Cardiac Pacemaker Market By Region, 2017 – 2023, (USD Million)
Table 4 Global Cardiac Pacemaker Market By Type, 2017 – 2023, (USD Million)
Table 5 Global Cardiac Pacemaker Market By Technology, 2017 – 2023, (USD Million)
Table 6 Global Cardiac Pacemaker Market By Application, 2017 – 2023, (USD Million)
Table 7 Global Cardiac Pacemaker Market By End Users, 2017 – 2023, (USD Million)
Table 8 North America Cardiac Pacemaker Market By Type, 2017 – 2023, (USD Million)
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LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Cardiac Pacemaker Market
Figure 3 Market Dynamics For Global Cardiac Pacemaker Market
Figure 4 Global Cardiac Pacemaker Market Share, By Type 2016
Figure 5 Global Cardiac Pacemaker Market Share, By Technology 2016
Figure 6 Global Cardiac Pacemaker Market Share, By Application, 2016
Figure 7 Global Cardiac Pacemaker Market Share, By End Users, 2016
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