A cardiac pacemaker is an artificial heart rhythm management device that can send electrical pulses to the heart to help it maintain regularity of the heart rhythm. Market Research Future (MRFR) has published a research report about the global cardiac pacemaker market that anticipates aggrandizement for this market at 7.9% CAGR during the forecast period between 2017 and 2023.
Major players in the global cardiac pacemaker market include Abbott. (USA), Biotronik (Germany), Boston Scientific Corporation (USA), Lepu Medical (China), MEDICO S.P.A. (Italy), Medtronic (USA), Oscor Inc. (USA), and Sorin Group (Italy).
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The most extensive factor carrying the global cardiac pacemaker market growth forward is growing the geriatric population, especially in the developed countries where advanced medical facilities are available. Other factors responsible for market growth are increasing healthcare expenditure and the growing incorporation of technology in the medical sector. However, the high cost of the pacemakers, need for surgery & risks of dysfunctioning associated with cardiac pacemakers can hamper the market growth.
Latest Industry News
- A new device called the Optimizer Smart System has been approved by the US Food & Drug Administration (USFDA). This device is for patients who have heart failure but are not candidates for heart pumps. Recently, Optimizer Smart System was successfully implanted into a man, giving him a new lease of life. 6 JUNE 2019
- The USFDA is set to go public with a public a previously confidential database that details more than 6 MN reported problems with medical devices that include implantable cardiac defibrillators and pacemakers. There are expectations for future pacemakers to be more advanced and free from the problems listed in the database. 24 JUNE 2019
The global Cardiac Pacemaker Market segmentation covers application, end users, technology, and type. MRFR is exploring the features of these segments to understand market trends.
As per the application-based segmentation, this market covers arrhythmias, congestive heart failure, and others. The arrhythmias segment has been sub-segmented into bradycardia, tachycardia, and others.
Based on end-users, the market has been segmented into cardiac care centers, hospitals, medical institutes, and others. Regarding technology, the market is being segmented into biventricular technology, dual-chambered technology, single-chambered technology, and others. By type, the market can be segmented into external cardiac pacemaker, implantable cardiac pacemaker, and others.
The regional segmentation of the global cardiac pacemaker market covers The Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA).
The Americas region dominates the global market due to the massive revenue that gets generated in two continents. However, North America is a bigger market than South America due to the huge patient population and the well-developed healthcare sector. Other factors driving the market growth in this region include changing lifestyle, growing geriatric population, increasing healthcare expenditure, and lastly, the presence of the developed countries like USA and Canada.
Europe has been estimated to be the second largest regional market due to the availability of funds for research and increasing healthcare expenditures. Other factors enabling the market growth in this region include huge patient population, government support for research & development, and well-developed healthcare sector. Due to the reasons the same as in the Americas, Western Europe is a bigger market than Eastern Europe. Critical country-specific markets with maximum revenue are France, Germany, Italy, Spain, and the UK.
During the forecast period, the Asia Pacific region can rise as the fastest growing regional market due to continuously developing economies like China and India, growing healthcare sector, increasing healthcare expenditures, and the presence of huge patient population. India is famous for medical tourism. Favorable government policies like relaxation in customs and excise duty in many Asia Pacific countries is also fueling market growth. Other major country-specific markets in this region are Australia, Japan, and South Korea. Remaining countries of the Asia Pacific region are also contributing to the rising market revenue.
The MEA region holds the least market share due to poor economies and stringent government policies in Africa. The Middle East market is quite developed due to the well-developed healthcare sector and massive healthcare expenditure by rich economies like Dubai, Kuwait, Saudi Arabia, and Qatar. The remaining countries of the MEA region also contribute some minor revenue to the market.
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- Pharmaceutical Companies
- Biotechnological Institutes
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Market Research and Consulting Service Providers
List of Tables
Table 1 Cardiac Pacemaker Industry Synopsis, 2017 – 2023
Table 2 Global Cardiac Pacemaker Market Estimates and Forecast, 2017 – 2023, (Usd Million)
Table 3 Global Cardiac Pacemaker Market by Region, 2017 – 2023, (Usd Million)
Table 4 Global Cardiac Pacemaker Market by Type, 2017 – 2023, (Usd Million)
Table 5 Global Cardiac Pacemaker Market by Technology, 2017 – 2023, (Usd Million)
Table 6 Global Cardiac Pacemaker Market by Application, 2017 – 2023, (Usd Million)
Table 7 Global Cardiac Pacemaker Market by End Users, 2017 – 2023, (Usd Million)
Table 8 North America Cardiac Pacemaker Market by Type, 2017 – 2023, (Usd Million)
Table 9 North America Cardiac Pacemaker Market by Technology, 2017 – 2023, (Usd Million)
Table 10 North America Cardiac Pacemaker Market by Application, 2017 – 2023, (Usd Million)
List of Figures
Figure 1 Research Process
Figure 2 Segmentation for Global Cardiac Pacemaker Market
Figure 3 Market Dynamics for Global Cardiac Pacemaker Market
Figure 4 Global Cardiac Pacemaker Market Share, by Type 2016
Figure 5 Global Cardiac Pacemaker Market Share, by Technology 2016
Figure 6 Global Cardiac Pacemaker Market Share, by Application, 2016
Figure 7 Global Cardiac Pacemaker Market Share, by End Users, 2016
Figure 8 Global Cardiac Pacemaker Market Share, by Region, 2016
Figure 9 North America Cardiac Pacemaker Market Share, by Country, 2016
Figure 10 Europe Cardiac Pacemaker Market Share, by Country, 2016
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