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Cardiac Pacemakers Market, by Product

RA00287

Cardiac Pacemakers Market, by Product (Single Chamber Pacemaker, Dual Chamber Pacemaker, CRT Pacemaker), End-Use Industry (Clinic and Hospitals, ASCs, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA00287

Pages: NA

Apr 2020

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Impact of covid-19 on Cardiac Pacemakers Market

Cardiac Pacemakers Market Analysis:

Cardiac pacemakers are miniature devices that are used for the treatment of patients with abnormal heart rhythms. Pacemakers generally use an electrical pulse to maintain the heartbeat at a steady pace. Pacemakers are usually placed inside an individual’s body either in the chest cavity or near the abdomen and they help control the irregularity. 

Also, if we add the total deaths by cancer (breast, colorectal, prostate), pneumonia, auto accidents, influenza,  HIV, firearms, and house fires combined, it would still be less than the annual deaths by cardiac arrest alone in America. These statistics clearly tell us why pacemakers are so important to lead an active and healthy life.

Growing cardiovascular diseases (CVD’s) and government efforts to curb the death rate are the major factors driving the market growth

The rising prevalence of CVDs in the developed as well as developing economies across the world is expected to create huge demand in the global cardiac pacemakers market, during the forecast period. Cardiac arrest is the leading cause of death globally every year. For instance, according to a study by American Heart Association, Inc. in 2018, in a single year alone over 4,75,000 Americans die from cardiac arrests and of which more than 3,50,000 happen out of the hospital. This may lead to drive the growth of global market. In addition, poor lifestyle, extreme stress, unhealthy eating habits, genetically inherited, and various other reasons are responsible for the increased rate of heart patients. This has created an alarming state for countries across the globe to try and control the death rate by cardiac arrest, which will eventually increase the demand for cardiac pacemakers in the global market. Furthermore, cardiac pacemakers are widely being adopted as a treatment method by doctors and surgeons across the globe for their reliability. Also, governments have motivated people for pacemaker treatments by imposing low taxes on them and also providing pacemakers at a subsidized rate. Governments across the globe are

increasing awareness about pacemakers, helping the market to grow. 

High treatment cost, increased recall rate and low awareness about cardiovascular diseases have negatively impacted the market

The high cost and lack of awareness regarding cardiac pacemakers are expected to restrain the growth of the global cardiac pacemaker industry, during the forecast period. In addition, the availability of alternative treatments over pacemaker technology is also anticipated to obstruct the growth of the global market. 

Technological advancement in the cardiac pacemaker segment to create a lucrative opportunity for market growth

The market is focusing on the development of quick, cost-effective, and reliable diagnostic methods that will fuel the growth of the market. Further technological advancements and upgradations like microprocessor-controlled devices, dynamic pacemaking technology, transitional tissue welding have created a whole new opportunity for market growth. Compare to the older versions of pacemakers the new technologically upgraded ones are much more reliable and cost-effective. The majority of the new work is being focused on enhancing the material and software used for pacemakers, which will eventually help to generate remarkable revenue, in the future years.

Cardiac Pacemakers Market, by Product:

Dual-chamber pacemakers hold the largest  share, in the global marketplace

The dual-chamber pacemakers are expected to have the largest market share in terms of both value and volume during the forecast period. Dual-chamber pacemakers have two chords of which one is placed in the right atrium and other in the right ventricle. Dual chamber pacemakers are cost-efficient and ensure the normal working of heart owing to two leads that mimic the same heart activity when it detects any irregularity. Further, they are considered to be more reliable when it comes to how long a patient would survive after pacemaker implants. Also, they tend to have extremely low post-surgical complications.

Cardiac Resynchronization Therapy (CRT) pacemaker segment will grow at a fast pace 

The cardiac resynchronization therapy pacemaker segment will have the maximum growth in the global market and it is expected to register a significant revenue during the forecast timeframe. CRT pacemaker has the capability to sense any irregularity in the heart rate and giving shock at the appropriate time, reducing the chances of future heart failure by a great margin. In addition, the device consists of 2 to 3 leads and is used for patients who have irregularity in both left and right ventricles. Moreover, growing patients with such cases where both sides have irregularity have also further fueled the growth of the market.

Cardiac Pacemakers Market, by End-Use Industry:

Clinic and hospitals segment will register significant growth, during the forecast period

The clinic and hospital segment will experience significant growth during the forecast period. Increased purchasing power capacity, infrastructural development, and availability of technology has made clinics and hospitals highly efficient and equipped with all the technology. Also, the availability of equipment required to perform cardiovascular treatments and surgeries improves the quality of care in health facilities. Moreover, compared to other options clinics and hospitals are much more cost-effective, and also people are extremely aware of them. Furthermore, clinics and hospitals are highly reliable and ensure proper treatment. All these factors have motivated patients to get their treatment done in hospitals and clinics, because of which the demand from these two for cardiac pacemakers have grown exponentially.

Cardiac Pacemakers Market, by Region:

Europe will hold the largest market share in the analysis period

Europe region is anticipated to hold the largest market share in the cardiac pacemakers market during the forecast period. Increased awareness amongst the population about cardiovascular diseases, developed healthcare infrastructure, and government initiatives are the major factor fueling the market growth in the region. Further reimbursement schemes, particularly in the U.K., France, and Italy, have also helped in the market growth by motivating people to opt for cardiac pacemakers. 

Asia Pacific region will be the most lucrative till 2027, in the global marketplace

Asia Pacific region is expected to be the most lucrative in the cardiac pacemakers market during the forecast timeframe. Extensively growing cardiovascular diseases and the geriatric population mainly into India, China, and Japan is also attracting market leaders to invest in the region. For instance, as per research conducted by the global burden of disease, it is estimated that, in India, CVD death rate is around 272 per 1,00,000 population which is more than global average of 235 per 1,00,000 population. In addition, growing awareness, the ongoing development of better healthcare facilities and infrastructure, rise in income of the population are positively impacting the market.

To explore more about Cardiac Pacemakers Market, get in touch with our analysts here.

https://www.researchdive.com/connect-to-analyst/287

Key Participants in the Global Cardiac Pacemakers Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Key Participants in the Global Cardiac Pacemakers Market

Some of the significant cardiac pacemakers market players include BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Medtronic, Abbott, LivaNova PLC, lepumedical.com, Osypka Medical GmbH, Pacetronix.com, MEDICO S.p.A., and OSCOR Inc.

Cardiac pacemakers market players are concentrating on technology innovation, merger & acquisition, and advanced product development. These are the several strategies implemented by established companies. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product

  • Single Chamber Pacemaker
  • Dual Chamber Pacemaker
  • CRT Pacemaker

  Segmentation by End-Use Industry

  • Clinic and Hospitals
  • ASCs
  • Others

  Key Countries Covered

U.S., Canada, Germany, France, Spain,

Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • BIOTRONIK SE & Co. KG
  • Boston Scientific Corporation
  • Medtronic
  • Abbott
  • LivaNova PLC
  • lepumedical.com
  • Osypka Medical GmbH
  • Pacetronix.com
  • MEDICO S.p.A.
  • OSCOR Inc

Source: Research Dive Analysis


FREQUENTLY ASKED QUESTIONS?
 

A. Abbott, Boston Scientific Corporation, and Medtronic are the leading companies in the cardiac pacemakers market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. Medtronic and Boston Scientific Corporation are investing more in R&D practices.

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