Cardiac Pacemaker Devices Market – Global Opportunity Analysis And Industry Forecast (2017-2022)
Cardiac Pacemaker Devices Market Size by Product (Implantable Cardiac Pacemaker, External Pacemaker, Pacing Leads, and Pacing Analyzer), End-User (Hospitals and Ambulatory Surgery Centers) – Global Opportunity Analysis and Industry Forecast (2017-2022)
The arena of cardiovascular medicine is swiftly evolving as advancements in technology and engineering offer clinicians’ new and exhilarating ways to care for an aging population. Cardiac pacing, in particular, has witnessed a series of game-changing technologies emerging since the past several years spurred by low-power electronics, high-density batteries, improved catheter delivery systems, and innovative software designs. The cardiac pacemaker devices can control & restore the human heart’s normal electrical pathways and thereby helps to avoid severe life-threatening cardiovascular arrest in the patients at high risk. Therefore, the adoption of these devices is rising with technological innovation and rising incidence & prevalence of chronic cardiovascular diseases and related death globally. For instance, according to the American Heart Association, cardiovascular disease is the leading cause of death globally, accounting for more than 17.3 million deaths in 2013. This number is estimated to grow to more than 23.6 million by 2030.
Global cardiac pacemaker devices market is expected to grow at a CAGR of 3.3% from 2017 to 2022 to reach USD 4,629.3 million by 2022. Following an extensive secondary and primary research on cardiac rhythm management devices including cardiac pacemakers and an in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, challenges, opportunities, and key trends in this market. Increasing burden of cardiovascular diseases, rising geriatric population, rise in obesity, sedentary lifestyle, excessive consumption of alcohol & caffeinated products, and various technological advancements are the key market drivers covered in the report which will support the industry growth in the forecast period. However, increase in reported cases of cardiac pacemaker malfunctioning & related product recalls restricts the growth of the market to some extent. Further, lack of skilled professionals, especially cardiologists poses great challenge for the growth of this market.
The global cardiac pacemaker devices market studied in the report is majorly segmented by product (cardiac pacemakers, pacing leads, and pacing analyzer), end user (hospitals, ambulatory surgery centers, and others), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The report further provides the details on each segment and sub-segment of various products. For instance, the report briefly talks about the dynamics of the various products categories including implantable pacemakers (single-chamber and dual-chamber), external pacemakers, pacing leads, and pacing analyzers. Each segment further briefly talks about the trends impacting the growth of these markets and the benefits involved with the use these products in high risk cardiovascular diseases to improve overall treatment.
An exhaustive geographic analysis of the industry covering five major geographies: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa is included in the geographic analysis section. These regions are further analysed at a country level with the detailed qualitative and quantitative analysis. The geographic analysis provides detailed insights on the key trends of the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario. The report identifies North America to be the largest market, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The geographic analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
The report also includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2014-2017). The study has also incorporated the market share analysis of leading players and detailed profiles of top 10 market players across the value chain of the industry, including detailed financial performance, product offerings, and strategic growth initiatives of each player.
The key players operating in the global cardiac pacemaker devices market are Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Lepu Medical Technology Co ltd (China), Medico, S.p.A (Italy), Osypka Medical GmbH (Germany), Shree Pacetronix Ltd. (India), and Cook Medical Group (U.S.).
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