About Cardiac Pacemakers
A pacemaker is a small device that sends electrical impulses to the heart muscle to maintain a suitable heart rate and rhythm. Pacemaker generates an electrical impulse that passes through the leads (wires) to the heart muscles. This causes the heart muscles to contract, thus creating a heartbeat. A pacemaker may also be used to treat fainting spells (syncope), congestive heart failure, and, rarely, hypertrophic cardiomyopathy. These devices are used for regulating the heartbeat of individuals and are segmented into products such as implantable cardiac pacemakers and external cardiac pacemakers.
Technavio’s analysts forecast the global cardiac pacemakers market to grow at a CAGR of 12.90% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cardiac pacemakers market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of cardiac pacemakers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cardiac Pacemakers Market 2017-2021
Technavio recognizes the following companies as the key players in the global cardiac pacemakers market: Abbott, BIOTRONIK, Boston Scientific, and Medtronic.
Other Prominent Vendors in the market are: ardiac Science, CCC Medical Devices, Cook Medical, GE Healthcare, MEDICO, SORIN GROUP, and ZOLL Medical Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is focus on new product launches. Development of new technologies in pacemakers by the leading manufacturers has positively impacted the output of the device. For instance, Medtronic developed leadless pacemaker, which was approved by the US FDA, is a revolutionary breakthrough in the pacemakers technology as leads were extensively used as a component of pacemaker over the several years.”
According to the report, one driver in the market is decline in the prices of pacemakers. Medical device industry has been a profitable market for the manufacturers over the years as the cost of healthcare services are increasing drastically by every passing year. For instance, the US healthcare cost is increasing at a very high speed. However, the prices of medical devices like pacemakers have been dropping. The global cardiac pacemakers market is experiencing intense competition among the key manufacturers and local/regional players. The market is dominated by prominent players like Medtronic, St. Jude Medical, and Boston Scientific; however, the market is open for local players to hold larger share in the global market through breakthrough innovations.
Further, the report states that one challenge in the market is high competition from substitutes. There is an intensive competition from substitutes like medications, cardiac catheter ablation, and ICD. The ICD device is used when the heart muscle is weakened, and fast heartbeat interrupts individual's health condition negatively. Cardiac catheter ablation is performed using radiofrequency (which uses heat energy) or cryoablation (which uses cold temperature). It is implemented depending on the type of abnormal heart rhythm. The medications like antiarrhythmic drugs are used to treat abnormal heartbeat caused due to the irregular electrical activity of the heart.
Abbott, BIOTRONIK, Boston Scientific, Medtronic, ardiac Science, CCC Medical Devices, Cook Medical, GE Healthcare, MEDICO, SORIN GROUP, and ZOLL Medical Corporation.
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