Cover Image
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
Price
Back to Top
Cardiac Pacemakers Market - Growth, Trends, and Forecast (2019 - 2024)
Published: March 1, 2019 Content info: 112 Pages
Description

Market Overview

The cardiac pacemakers market is expected to register a CAGR of nearly 6.8% during the forecast period, 2019-2024.

  • Some of the factors, such as the rising prevalence of lifestyle-related disorders, favorable reimbursement scenario, growing geriatric population, and technological advancements are expected to boost the cardiac pacemakers market.
  • According to Centers for Disease Control and Prevention (CDC) statistics, more than three million people in the United States suffer from atrial fibrillation, which is the most common type of abnormal heart rhythm, and the number is expected to quadruple by 2050.
  • Arrhythmias affects all age groups, but the risk of developing atrial fibrillation (AF) increases significantly with age. As per the American Heart Association's statistics, the prevalence rate of AF in people younger than 65 years of age is approximately 2%, while the rate increases to about 9% in people aged more than 65 years.
  • Furthermore, the use of alcohol, tobacco, a sedentary lifestyle, and certain over-the-counter drugs could also increase the risk of arrhythmias.

Scope of the Report

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.

Key Market Trends

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.

Competitive Landscape

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.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 64162

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rising Prevalence of Lifestyle-related Disorders
    • 4.2.2 Rapidly Growing Geriatric Population
    • 4.2.3 Favorable Reimbursement Scenario
    • 4.2.4 Advancements in Pacemaker Technology and Minimally Invasive Procedures
  • 4.3 Market Restraints
    • 4.3.1 High Costs Associated with Application and Maintenance
    • 4.3.2 Stringent Safety Regulations
    • 4.3.3 Cyber Security Risk Associated with Connected Pacemakers
  • 4.4 Porter's Five Force Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Implantable
      • 5.1.1.1 Single Chamber
      • 5.1.1.2 Dual Chamber
      • 5.1.1.3 Biventricular
    • 5.1.2 External
  • 5.2 Geography
    • 5.2.1 North America
      • 5.2.1.1 US
      • 5.2.1.2 Canada
      • 5.2.1.3 Mexico
    • 5.2.2 Europe
      • 5.2.2.1 Germany
      • 5.2.2.2 UK
      • 5.2.2.3 France
      • 5.2.2.4 Italy
      • 5.2.2.5 Spain
      • 5.2.2.6 Rest of Europe
    • 5.2.3 Asia-Pacific
      • 5.2.3.1 China
      • 5.2.3.2 Japan
      • 5.2.3.3 India
      • 5.2.3.4 Australia
      • 5.2.3.5 South korea
      • 5.2.3.6 Rest of Asia-Pacific
    • 5.2.4 Middle East & Africa
      • 5.2.4.1 GCC
      • 5.2.4.2 South Africa
      • 5.2.4.3 Rest of Middle East & Africa
    • 5.2.5 South America
      • 5.2.5.1 Brazil
      • 5.2.5.2 Argentina
      • 5.2.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Abbott Inc. (ST. Jude Medical)
    • 6.1.2 Medtronic PLC
    • 6.1.3 Boston Scientific Corporation
    • 6.1.4 Lepu Medical Co. Ltd
    • 6.1.5 Zoll Medical Corporation
    • 6.1.6 Biotronik SE & Co. KG
    • 6.1.7 Medico SpA

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Back to Top