Market Research Report
Cardiac Pacemakers Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||707361|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Cardiac Pacemakers Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: March 1, 2019||Content info: 112 Pages||
The cardiac pacemakers market is expected to register a CAGR of nearly 6.8% during the forecast period, 2019-2024.
Cardiac pacemakers are medical devices that are used to deliver electrical pulses to the heart, in order to maintain a normal heart rate. Pacemakers are used for the treatment of patients who are suffering from heart conditions, such as heart failure and arrhythmias.
Implantable Cardiac Pacemakers Segment Captures the Largest Market Share and is Expected to Grow with a Lucrative Rate
The implantable cardiac pacemakers captured the largest market share and are expected to grow with a lucrative growth rate over the forecast period. The implantable pacemakers are of three major types, namely, single chamber, dual chamber, and biventricular pacemakers. The growth of the segment can be attributed to factors, such as reduced post-surgical complications and the presence of multiple leads in order to assure normal physiology of the heart. Biventricular pacemakers are expected to gain momentum, owing to the presence of multiple leads. These devices can be implanted into multiple locations as it consists of three leads that are placed into left and right atrium along with the ventricle. These biventricular pacemakers are known to be most useful, owing to its multiple lead benefits to assist in conditions, such as ventricular dysynchrony.
However, in other cardiac conditions, the single and dual chamber pacemakers are used depending on the condition. Hence, owing to the aforementioned factors the implantable pacemakers segment is expected to retain its dominance over the forecast period.
North America Captured the Largest Market Share and is Expected to Retain its Dominance
North America emerged to be the largest regional market in terms of revenue. The high prevalence of the cardiovascular disease, high obesity rates, and a favorable reimbursement environment are the primary factors behind the large market size. On the other hand, Asia-Pacific is expected to grow at a rapid rate, over the forecast period, owing to increasing healthcare expenditure and the rising prevalence of cardiovascular and lifestyle-associated disorders in the developing economies of the region.
The presence of major market players, such as Abbott Inc. (ST. Jude Medical), Medtronic PLC, Boston Scientific Corporation, Biotronik, and Lepu Medical Co. Ltd, among others, is contributing to the growth of the market. The increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the world.