SEATTLE, May 13, 2021, (MEDGADGET) — Overview:
Pacemakers for bradyarrhythmia treatment, implantable cardioverter defibrillators (ICDs) for tachyarrhythmia management, and cardiac resynchronization therapy (CRT) devices for systolic dysfunction with conduction delays are all examples of cardiovascular implantable electronic devices (CIEDs). Pacemakers, implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy, implantable hemodynamic monitoring, and implanted heart rhythm monitors (also known as loop recorders) are all examples of cardiac implant devices. Myocardial ischemia, arrhythmias, and acute myocardial infraction are all treated with these implants.
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The global cardiac implantable electronic device market has seen an influx of patients in hospitals and acute care facilities as a result of the COVID-19 pandemic. As a result, any process or service is immediately terminated. Many hospitals have classified cardiac implantable devices as “non-essential.” COVID-19 infection is more likely to affect patients with cardiovascular disease, which can lead to death.
New product launches by market players, owing to technological advancements in implantable cardiac pacemakers is expected to boost growth of the market. For instance, in 2017, The Heart Logic Heart Failure Diagnostic was launched by Boston Scientific Corporation as part of the Resonate family of implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems to help doctors improve heart failure (HF) management. The device was also approved by the US FDA in 2017 for conditional use in a magnetic resonance imaging (MRI) system (MRI) environment.
As the world’s population ages and demographics change, the prevalence of heart disease is expected to rise, resulting in increased demand for cardiac implantable electronic devices over the forecast period. For instance, According to the American College of Cardiology, cardiovascular diseases killed around 800,000 people in the United States in 2017, and it is still the leading cause of death in the country.
Implantable pacemaker associated infections in cardiac patients can deter patients from using this product, which is expected to hinder the growth of the market.
The global cardiac implantable electronic device market is estimated to be valued at US$ 22,576.22 million in 2020 and is expected to exhibit a CAGR of 7.7% during the forecast period (2020-2027).
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Cardiac Implantable Electronic Device Market, By Type, is segmented into:
- Implantable Pacemakers
- External Pacemakers
By End User:
- Specialty Clinics
- Ambulatory Care Settings
- North America
- Latin America
- Asia Pacific
- Middle East
North America is expected to witness significant growth in global cardiac implantable electronic device market owing to increasing prevalence of cardiovascular diseases in the region. For instance, According to the American Heart Association (AHA), approximately 92.1 million adults in the United States suffer from cardiovascular disease or stroke-related complications in 2017.
Moreover, Asia-Pacific is also expected to witness significant growth in global cardiac implantable electronic device owing to high demand for technologically advanced products for cardiac rhythm management and rising healthcare concern for stroke prevention associated with atrial fibrillation. For instance, According to the Japanese Heart Rhythm Society, the Asian population with atrial fibrillation (AF) is expected to reach 72 million by 2050, with 2.9 million of them potentially suffering from AF-related strokes.
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Key players operating in the global cardiac implantable electronic device market include Medtronic plc., Biotronik, Braile Biomédica, Abbott Laboratories, Sorin Group, Osypka Medical GmbH, Boston Scientific Corporation, Shree Pacetronix Ltd., CCC Medical Devices, Cook Group Incorporated Galix Biomedical Instrumentation Inc., and Oscor Inc..
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