Global Pacemaker Market By Technology, Product and Industry Trends - Global Growth Forecasts 2023
Global Pacemaker Market Research Report: Information by Implantability (Implantable Pacemakers and External Pacemaker), Technology (Dual-Chamber Pacemakers, Single-Chamber Pacemakers and Biventricular/CRT Pacemakers), Type (MRI Compatible Pacemakers and Conventional Pacemakers), End User (Hospitals & Cardiac Centers and Ambulatory Surgical Centers) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2025
Market Highlights
A pacemaker is a small device that is used to
regulate your heart rhythm. The global
pacemaker market has been evaluated as
steadily growing market and it is expected that the market will continue to
grow similarly in the near future. Cardiac pacemaker are the artificial heart
rhythm management devices which regularize the heartbeats by sending the
electrical impulses to the heart. External pacemakers are the temporary pacing
devices which are used during the cardiac surgical procedures to maintain the
heartbeat rhythms. External pacemakers require a fully furbished clinical
facility.
Intended Audience
- Cardiovascular disorders treatment
centers
- Contract research organizations (CROs)
- Research and development (R&D)
companies
- Government research laboratories
- Independent research laboratories
- Government and independent regulatory
authorities
- Market research and consulting service
providers
- Medical research laboratories
- Academic medical institutes and universities
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Global Pacemaker Market -
Regional Analysis
Depending on geographic
region, pacemaker market is segmented into four key regions: America commands
the largest global pacemakers market due to increasing awareness among the
people towards the use of innovative technologies is the key factor for the
growth of the market. North America is the major contributor of America
pacemakers market owing to increasing financial capability of hospitals,
increasing prevalence of chronic diseases, strategic collaboration with
assurance companies in this region also contributed in the growth of the market.
Europe is the second-largest market globally for cardiac pacemaker which is
expected to continue its growth in the near future. Asia pacific region is
expected to be fastest growing region in cardiac pacemaker market. However, The
Middle East and Africa has the lowest market for pacemakers because of limited
development in medical field.
On the other hand,
implantable pacemakers are placed inside the skin on the left side of the chest
of the patient. The normal life of an implantable pacemaker device is said to
be 10 years. The average cost of the device is around $10000 in US. But due to
the favourable reimbursement policies of the government, it becomes affordable
for the people to undergo the implantation procedure leading to the growth of
the market. Among the two types implantable and external, implantable cardiac
pacemakers are the most preferred pacemakers by the physicians. The market for
implantable pacemaker is very large as compared to external pacemaker. After
the certain age, heart starts to develop some irregularities in the rhythmic
pattern. With the increasing age, the prevalence of arrhythmia rises leading to
the various heart problems including the strokes and heart attacks. Pacemakers
help in managing these irregularities and arrhythmias to lead the patient to a
healthy life. Rise in the geriatric population, rise in the number of
incidences of coronary diseases and number of deaths due to heart attacks are
some of the factors which boost the demand of the cardiac rhythm management
devices including the pacemakers. However, the recent developments in the
implantable cardiac defibrillators have turned the tables to an extent. The
increasing popularity of the implantable cardiac defibrillators can hamper the
growth of the cardiac pacemakers globally.
According to the Centres
for Disease Control and Prevention (2015), over 630,000 Americans died from
heart disease each year, which accounted for 1 in every 4 deaths. According to
findings from the World Health Organisation (WHO), in 2015, 82% of the total
deaths were occurred in low- and middle-income countries. According to survey
conducted by Johnson and Johnson Pvt. Ltd. around 2.5 million cardiovascular
surgeries are performed in America every year.
According to the population
reference bureau, the number of Americans ageing 65 and older is projected to
more than double from 46 million in 2015 to over 98 million by 2060.
According to the StastsCan,
2015, over 5.7 million Canadians have aged 65 and older, which was 16.1 % of Canadian
population.
Global Pacemaker Market -
Competitive Analysis
July, 2016- BIOTRONIK had
received CE approval for its Edora pacemakers and cardiac resynchronization
therapy pacemakers. Biotronik is one of the global leader in cardio- and
endovascular medical technology, and is headquartered in Berlin, Germany, and
represented in over 100 countries. Many patients have used company implants
with improved quality, or have been treated with company’s coronary and
peripheral vascular intervention products. However, the company was first to
develop pacemaker in 1963, moreover the company has engineered many
innovations, which includes Magmaris, the first clinically proven bioresorbable
magnesium scaffold, Home Monitoring, Pulsar 18- the world's first 4 F compatible
stent for treating long lesions, Orsiro, first hybrid drug-eluting stent; and
the world's first implantable cardioverter defibrillators and heart failure
therapy devices with ProMRI technology
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The report for Global market by Market
Research Future comprises of extensive primary research along with the detailed
analysis of qualitative as well as quantitative aspects by various industry
experts, key opinion leaders to gain a deeper insight of the market and
industry performance. The report gives a clear picture of the current market
scenario which includes past and estimated future market size with respect to
value and volume, technological advancement, macro economical and governing
factors in the market. The report provides detail information about and
strategies used by top key players in the industry. The report also gives a
broad study of the different market segments and regions.
Key Players
ATS Medical (U.S.),
Biotronik GmbH & Co. KG (Germany), Boston Scientific Corporation (U.S.),
Edwards Lifesciences (U.S.), Medtronic Plc (U.S.), Sorin Group, St. Jude
Medical Inc. (U.S.), Vitatron Holding B.V. (the Netherlands), Zoll Medical
Corporation (U.S.) are some of the prominent players at the forefront of
competition in the Global Pacemaker Market and are profiled in MRFR Analysis.
TOC:
1.
Report Prologue
2. Market
Introduction
2.1
Definition
2.2 Scope of the
Study
2.2.1
Research Objective
2.2.2
Assumptions
2.2.3
Limitations
3. Research
Methodology
3.1 Introduction
3.2 Primary
Research
3.3 Secondary research
3.4 Market Size
Estimation
TOC…Continued
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