Cardiac pacing devices have been widely prescribed to diagnose bradycardia (slow or missing stimulation of the complete ventricle) and Cardiac Resynchronization Therapy since the invention of implantable cardiac pacemakers. Small devices that are implanted in the chest or belly to manage irregular heart rhythms are known as implantable cardiac pacemakers. Pacemakers are also commonly used to treat arrhythmias, irregular heartbeat too fast or too slow.
Market players are now focused on delivering goods that are equivalent in functionality to high-end implantable cardiac pacemakers at more inexpensive prices. This can be ascribed to a variety of causes, including increasing prevalence of trained doctors and healthcare professionals, cheaper medical facility expenses, and coordinated government and private attempts to improve universal care. Furthermore, the rising occurrence of heart problems such as arrhythmia, atrial fibrillation, long QT syndrome, bradycardia, and tachycardia, as well as adaptation of sedentary and unhealthy lifestyle, are anticipated to boost the global implantable cardiac pacemaker market growth.
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Introduction of technologically advanced cardiac pacemakers is expected to augment the growth of the global implantable cardiac pacemaker market during the forecast period.
Introduction of new cardiac pacemaker devices including MRI safe pacemakers, pacemakers with increased battery life, and wireless controlled devices can help patients with bradycardia delay the evolution of chronic Atrial Fibrillation (AF). For example, in 2017, Food and Drug Administration (FDA) approved Abbott’s MR-conditional labeling for Tendril MRI pacing lead and Assurity MRI pacemaker.
Moreover, the advent of automated and wireless pacemaker is gaining huge traction in the market, which in turn is also expected to drive the global implantable cardiac pacemaker market growth.
For example, in 2016, Biotronik launched a portable monitoring device, CardioMessenger Smart, in the United States to keep patients, with Insertable Cardiac Monitor, Implantable Cardioverter Defibrillator, and pacemaker, connected to their physician remotely.
North America and the Asia Pacific is expected to witness robust growth in the global implantable cardiac pacemaker market due to the increasing incidence/prevalence of cardiovascular diseases and the geriatric population in these regions.
According to the Centers for Disease Control and Prevention’s (CDC’s) August 2017 report, Atrial Fibrillation affected around 2.7 to 6.1 million Americans, and the prevalence is increasing with a rapid pace. Furthermore, growing geriatric population in the region, as the risk of Atrial Fibrillation increase with age, is also expected to fuel the market growth.
According to the data published in November 2016 in the Journal of the Formosan Medical Association, geriatric population in Asia is growing at faster rate, which in turn is increasing the prevalence of Atrial Fibrillation in Asia. Moreover, around 72 million Asian people are expected to suffer from Atrial Fibrillation by 2050.
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Major players active in the global implantable cardiac pacemaker market are LivaNova PLC, Lepu Medical Technology Co Ltd., MEDICO S.p.A, Shree Pacetronix Ltd, Vitatron Holding B.V., St. Jude Medical, Boston Scientific Corporation, BIOTRONIK, Qinming Medical, and Medtronic plc.
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Table of Content
Global Implantable Cardiac Pacemaker Market Research Report
Section 1: Global Implantable Cardiac Pacemaker Industry Overview
Section 2: Global Economic Impact on Implantable Cardiac Pacemaker Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Implantable Cardiac Pacemaker Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Implantable Cardiac Pacemaker Market Forecast
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