The Global Cardiac Pacemaker Market is expected to grow at an approximate CAGR of 7.9% during the forecast period. Market Research Future published a half-cooked research report on Global Cardiac Pacemaker Market. Cardiac pacemakers are medical devices used to manage the heart rates in diseases like heart arrhythmia, congestive heart failure, and others. The market has implantable and external cardiac pacemakers along with biventricular, single-chambered, and dual-chambered cardiac pacemakers. The use of the implantable pacemakers is preferred over the external pacemaker. Increasing prevalence of atrial fibrillation (AFib), growing geriatric population, and rising healthcare expenditures are the major drivers for the market growth during the forecast period. According to the Centers for Disease Control and Prevention in 2017, 2.7-6.1 million people in the U.S. are estimated to be suffering from AFib. However, the high cost of the pacemaker, need for the surgery, and risks for the failure of cardiac pacemakers restrain the market growth during the forecast period.
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Cardiac Pacemaker Market Segmentation:
The Global Cardiac Pacemaker Market is segmented on the basis of type, technology, application, and end users.
On the basis of the type, the market is segmented into implantable, external cardiac pacemaker, and others.
On the basis of the technology, the market is segmented into biventricular, single-chambered, dual-chambered, and others
On the basis of the application, the market is segmented into arrhythmias, congestive heart failure, and others. The arrhythmias segment is sub-segmented into tachycardia, bradycardia, and others.
On the basis of the end users, the market is segmented into hospitals, cardiac care centers, medical institutes, and others.
Cardiac Pacemaker Market Regional Analysis:
The Americas dominate the global cardiac pacemaker market owing to the well-developed healthcare sector, huge patient population, changing lifestyle, increasing healthcare expenditure, and growing geriatric population.
Europe is the second largest cardiac pacemaker market owing to the availability of funds for research, huge patient population, increasing healthcare expenditures, and well-developed healthcare sector. According to the Public Health England in 2017, it is estimated that 1.4 million people (2.5% of the total population) in England have AFib.
Asia Pacific is the fastest growing region in the global market. The presence of a huge patient population and continuously developing economies like India and China drive the market growth during the forecast period.
On the other hand, the Middle East & Africa holds the least share in the global cardiac pacemaker. A majority of the market in the Middle East & Africa is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure.
Cardiac Pacemaker Market Key Players:
The key players in the global cardiac pacemaker market are Medtronic (U.S.), Abbott. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK (Germany), LEPU MEDICAL (U.K), SORIN Group (Europe), MEDICO S.p.A. (Europe), OSCOR Inc. (U.S.), and others.
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