Cardiac Pacemaker Market

Global Market Study on Cardiac Pacemaker: North America Regional Market to Register a Declining CAGR of -1.4% Between 2016 and 2024

  • November-2016
  • PMRREP12382
  • 192 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Overview

A pacemaker is a small electrical device used for treatment of arrhythmias in patients suffering from irregular heartbeat. Arrhythmias is of two types, tachycardia and bradycardia. When the heart beat is too fast it is termed as tachycardia and when it is too slow it is known as bradycardia. During arrhythmia the heart is not able to pump enough blood to the other parts of the body, which causes fatigue and fainting.

According to Center for Disease Control and Prevention (CDC) sudden cardiac death rates are more than 600,000 per year, and it has been observed that 50% of patients die during first occurrence of cardiac disease. The prevalence of atrial and ventricular arrhythmias increases with age with no sign of coronary heart disease. A pacemaker helps the patients suffering from arrhythmias to lead an active and healthy life style. There are two types of pacemaker devices, implantable cardiac pacemaker and external cardiac pacemaker.

The implantable pacemaker device is placed under the skin on left side of the chest, and is connected through leads guided through a blood vessel to the heart. The external cardiac pacemaker are used for temporary pacing and require a fully furbished clinical facility. The global cardiac pacemaker market has been segmented on the basis of product type, end users, and regions.

The global cardiac pacemaker market is projected to exhibit a declining CAGR of -0.5% during the forecast period in terms of value. Global cardiac pacemaker market value is expected to reach to US$ 3,923.8 Mn by the end of 2024.

Find Out More about the Report Coverage

Companies

Company Profiles

  • BIOTRONIK SE & Co. KG 
  • Boston Scientific Corporation
  • Medtronic
  • St. Jude Medical Inc.
  • LivaNova PLC.
  • lepumedical.com
  • Osypka Medical GmbH
  • Pacetronix.com
  • MEDICOWEB
  • Others.

Factors influencing the global cardiac pacemaker market

The global cardiac pacemaker market is mainly driven by growing prevalence of cardiovascular disorders in developed nations, high disease occurrence in underdeveloped nations, various supportive government initiatives, and non-government organizations funding. Other factors driving cardiac pacemaker market are advanced diagnostics, favorable reimbursement scenario for treatment and cost effective steps taken by various governments. However, Lack of awareness regarding cardiovascular disorders among the population in developing countries, high cost of treatment and high rate of product recalls due to device malfunctioning are expected to restrain growth of the market over the forecast period. Focus on new device launches approaches and development of fast, reliable and cost-effective diagnostic methods will define the future landscape of cardiac pacemaker market.

Customize this Report

Explore Intelligence Tailored to Your Business Goals.

Global cardiac pacemaker market segment analysis

Based on product type, the market has been segmented into implantable pacemakers and external pacemakers. Implantable pacemaker segment is expected lose market share by 2024 and reach US$ 3,116.2 Mn. The loss in revenue is due to preference given to cardiac defibrillators over pacemakers for treating arrhythmias.

A cardiac defibrillators is similar in shape and size to a pacemaker and is able to perform defibrillation and pacing of the heart thus able to treat life threatening arrhythmias. Implantable cardiac pacemaker will remain the most attractive segment in terms of revenue generation when compared to external pacemaker segment due to its modality and effectiveness over external pacemaker which allows for temporary pacing and technological advancements.

Based on major end users, the cardiac pacemaker market is segmented into hospitals and ambulatory surgical centers. Hospitals segment are expected to account for the highest share for cardiac pacemaker market over the forecast period due to higher rate of implants that take place in the hospitals segment as the reimbursement rates offered are better as compared to ambulatory surgical centers.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Get actionable insights on Ship Repair And Maintenance Services Market

Global cardiac pacemaker market regional analysis

The global cardiac pacemaker market has been segmented into five major regions: North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). In terms of value, North America is estimated to be the dominant market for global cardiac pacemaker market in 2016 owing to robust healthcare infrastructure and high prevalence of cardiovascular drugs diseases. The Latin America cardiac pacemaker market is expected to expand at a CAGR of 1.1% over the forecast period. Asia Pacific and Middle East & Africa cardiac pacemaker market is estimated to exhibit a CAGR of 1.0% for the forecast period.

North America cardiac pacemaker market is expected to exhibit a declining CAGR of – 1.4% over the forecast period the decrease in market share is due to product recalls of major players in the region which resulted in loss of revenue. Implantable cardiac pacemaker segment in the North America market is expected to exhibit a negative CAGR over the forecast period. The Europe region is expected to exhibit a declining CAGR of -1.1% for the forecast period. The decline in revenue share in these two regions has affected the overall global cardiac pacemaker market as the two regions have the maximum share in terms of market share.

cardiac pacemaker market

Explore Persistence Market Research’s expertise in promulgation of the business !

Global cardiac pacemaker market key market players

Some key players in the global cardiac pacemaker market identified in this report are Medtronic’s, St.Jude Medical Inc., Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Lepu Medical Technology Co ltd., MEDICOWEB, Pacetronix ltd., LivaNova Plc., and Osypka Medical GmbH.  The report also identifies company-specific strategies related to product development; market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities, and threats.

The global cardiac pacemaker market is dominated by few key players such as Medtronic’s, St.Jude Medical Inc., Boston Scientific Corporation and BIOTRONIK SE & Co. KG and together, these companies constitute around 80%-85% of the overall market share.

Media Release

Talk Show:

The Rise of Intelligent Packaging

Personalized, Connected and Sustainable

November 18, 2021 11:00-11:45 AM PST (USA & Canada)
This is a LIVE session
Future Market Insights MarketNgage

Our Clients

Our Clients