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Market Research Report

Global Cardiac Pacemakers Market - Segmented by Type (Implantable and External), and Geography - Growth, Trends, and Forecast (2018 - 2023)

Published by Mordor Intelligence LLP Product code 707361
Published Content info 105 Pages
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Global Cardiac Pacemakers Market - Segmented by Type (Implantable and External), and Geography - Growth, Trends, and Forecast (2018 - 2023)
Published: August 1, 2018 Content info: 105 Pages

The cardiac pacemakers market is expected to register a CAGR of 6.8% over the forecast period. Cardiac pacemakers are medical devices that are used to deliver electrical pulses to the heart, in order to maintain normal heart rate. Pacemakers are used for the treatment of patients who are suffering from heart conditions such as heart failure and arrhythmias.

Increasing Prevalence of Heart Diseases and Ageing Population are driving the 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.

Other factors that are driving the market growth include a favorable reimbursement scenario and technological advancements in the field of pacemakers and minimally invasive surgeries.

Cyber Security Risks Associated with New-generation Connected Pacemakers could Impede Market Growth

For the purpose of increasing connectivity between the patient and caregiver, the wireless communication capabilities of medical devices have been enhanced manifold. While these advances have enabled better record keeping, continuous diagnosis, and advanced healthcare methodologies such as predictive medicine, they have also made it possible to manipulate normal functioning of the medical device. In case of pacemakers that represent high-risk class medical devices, cyber security risks pose significant danger to patient safety. In the recent past, the US FDA had identified Abbott implantable products to be susceptible to cybersecurity risks, following which Abbott had initiated two voluntary recalls, in Aug 2017 and Apr 2018. These cybersecurity risks and recalls could unnecessarily alarm patients, and may have a long term negative effect on the growth of the market

North America Dominates the Cardiac Pacemakers Market

In 2017, North America was the largest regional market, in terms of revenue. The high prevalence of cardiovascular disease, high obesity rates, and a favorable reimbursement environment are the primary factors behind the large market size. The Asia-Pacific market 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.

Key Developments in the Cardiac Pacemakers Market:

Jul 2018: Medtronic received FDA's expanded indication for SelectSecure(TM) MRI SureScan(TM) pacing lead for His bundle site stimulation.

Major Players: Abbott Inc. (ST. Jude Medical), Medtronic PLC, Boston Scientific Corporation, Sorin Group, Lepu Medical Co. Ltd, Zoll Medical Corporation, Medico SpA, and Biotronik SE & Co. KG, among others.

Reasons to Purchase Cardiac Pacemakers Market Report:

Analysis of various perspectives of the global cardiac pacemakers market, with the help of Porter's five forces analysis

The segment that is expected to dominate the market

Regions that are expected to witness fastest growth during the forecast period

Identification of the latest developments, market shares, and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Cardiac Pacemakers Market Report:

This report can be customized to meet your requirements. Please contact our representative, who will ensure that you get a report that suits your needs.

Table of Contents
Product Code: 64162

Table of Contents

1. Introduction

  • 1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

  • 5.1 Current Market Scenario
  • 5.2 Porter's Five Forces Analysis
    • 5.2.1 Bargaining Power of Suppliers
    • 5.2.2 Bargaining Power of Consumers
    • 5.2.3 Threat of New Entrants
    • 5.2.4 Threat of Substitute Product and Services
    • 5.2.5 Competitive Rivalry within the Industry

6. Market Dynamics

  • 6.1 Drivers
    • 6.1.1 Rising Prevalence of Lifestyle-related Disorders
    • 6.1.2 Rapidly Growing Geriatric Population
    • 6.1.3 Favorable Reimbursement Scenario
    • 6.1.4 Advancements in Pacemaker Technology and Minimally Invasive Procedures
  • 6.2 Restraints
    • 6.2.1 High Costs Associated with Application and Maintenance
    • 6.2.2 Stringent Safety Regulations
    • 6.2.3 Cyber Security Risk Associated with Connected Pacemakers
  • 6.3 Opportunities
  • 6.4 Key Challenges

7. Market Segmentation

  • 7.1 By Type
    • 7.1.1 Implantable
      • Single Chamber
      • Dual Chamber
      • Biventricular
    • 7.1.2 External
  • 7.2 By Geography
    • 7.2.1 North America
      • United States
      • Canada
      • Mexico
    • 7.2.2 Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
      • Rest of Europe
    • 7.2.3 Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
      • Rest of Asia-Pacific
    • 7.2.4 Middle East & Africa
      • GCC
      • South Africa
      • Rest of the Middle East & Africa
    • 7.2.5 South America
      • Brazil
      • Argentina
      • Rest of South America

8. Key Players and Competitive Landscape

  • 8.1 Abbott Inc. (ST. Jude Medical)
  • 8.2 Medtronic PLC
  • 8.3 Boston Scientific Corporation
  • 8.4 Sorin group
  • 8.5 Lepu medical Co. Ltd
  • 8.6 Zoll medical corporation
  • 8.7 Biotronik SE & Co. KG
  • 8.8 Medico SpA

List not Exhaustive

9. Future of the Market

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