Cardiac Pacemaker Market Determined By Market Concentration Rate, New Entrants, Products, Services A

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Cardiac pacemaker is a medical device placed in the chest to control abnormal heart rhythm of the patient by using electrical pulses, which prompt the heart to contract and pump blood. Pacemakers have ability to monitor and record heart's rhythm and electrical activity. Cardiac pacemaker is composed of a small titanium encased pulse generator, which contains a lithium battery and electrical circuitry attached to one, two, or three leads, which are inserted into the heart. Pacemaker pulse generators should be checked twice to thrice a year and must be replaced every five to ten years. The technical advantages of lithium iodine battery in terms of its longevity, adaptable shapes and sizes, light weight, no gas generation, corrosion resistance, and excellent current drain characteristics makes the cardiac pacemakers suitable to last as long as the expected lifetime.

The global cardiac pacemaker market was valued at US$ 5,972.2 million in 2017, and is expected to witness a CAGR of 7.3% over the forecast period (2018–2026).

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Cardiac Pacemaker Market Dynamics:

Increasing incidence of cardiovascular diseases worldwide is fueling growth of the cardiac pacemaker market. According to the Centre for Disease Control and Prevention (CDC) foundation, 2015, around 800,000 Americans die due to stroke and other cardiovascular diseases. Moreover, increasing number of geriatric population across the various regions worldwide along with high prevalence of heart disease is expected to propel demand for implantable cardiac pacemakers in the near future. According to the data published in the Journal of the Formosan Medical Association, in November 2016, around half of the world population living in Asia is geriatric population and it is growing at faster rate, which is increasing burden of Atrial Fibrillation (AF) in Asia. According to the same source, in 2050, around 72 million people are projected to suffer from AF in Asia, which is expected to be more than double the combined numbers of patients from Europe and the U.S.

Introduction of advance technology such as wireless and automated pacemaker monitoring pacemakers are gaining significant traction among healthcare providers. Moreover, increasing adoption of advanced technologies in cardiac pacemakers such as MRI safe-pacemakers, pacemakers with improved battery life, delay the progression of persistent Atrial Fibrillation (AF) in patients suffering from bradycardia and wireless automated technologies have gained significant traction among cardiac pacemakers market players, which is expected to drive growth of cardiac pacemakers market. For instance, in February 2017, Abbott received the Food and Drug Administration (FDA) approval for its MR-conditional labeling for both of its products i.e. Assurity MRI pacemaker and the Tendril MRI pacing lead. However, installation of pacemakers is associated with risk of developing infections in cardiac patients, which may restrain market growth. Pacemaker surgery can led to various complications such as swelling, bruising, bleeding, or infection at the of area of pacemaker implantation leading to blood vessel or nerve damage, which may reduce the adoption of cardiac implants in patients, in turn negatively impacting market growth.

Cardiac Pacemaker Market Regional Outlook:

On the basis of geography, the global cardiac pacemaker market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to hold dominant position in this market, owing to increasing prevalence of heart diseases and adoption of technologically advanced products. Moreover, factors such as improved healthcare facilities and better reimbursement scenario are also driving growth of the cardiac pacemakers market in this region. In March 2017, Medtronic issued Medicare reimbursement for the first leadless cardiac pacemaker Mica Trans catheter Pacing System (TPS), which is available in the U.S. Asia Pacific is projected to witness significant growth in market over the forecast period, owing to presence of large patient population, increasing healthcare expenditures in emerging economies such as India and China which, and growing healthcare sector. Emerging economies such as Asia Pacific and Latin America has huge potential for market growth and is likely to be the fastest growing region throughout the forecast period.

Major companies operating in the cardiac pacemaker market include:

• Medtronic Plc.

• BIOTRONIK, Inc.

• Boston Scientific Corporation

• Abbott Laboratories

• Vitatron Holding B.V.

• Shree Pacetronix Ltd.

• MEDICO S.p.A.

• Lepu Medical Technology Co Ltd.

• LivaNova PLC

• Qinming Medical

• Cordis Inc.

Detailed Segmentation:

• Global Cardiac Pacemaker Market, By Product Type:

  • Single Chambered

  • Dual Chambered

  • Biventricular

  • Implantable Cardiac Pacemaker

  • External Cardiac Pacemaker

• Global Cardiac Pacemaker Market, By End User:

  • Hospitals

  • Ambulatory Surgical Centers

• Global Cardiac Pacemaker Market, By Region:

  • By Country:

    • U.S.

    • Canada

  • By Product Type:

    • Implantable Cardiac Pacemaker

    • Single Chambered

    • Dual Chambered

    • Biventricular

    • External Cardiac Pacemaker

  • By End User:

    • Hospitals

    • Ambulatory Surgical Centers

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