Global Cardiac Pacemaker Market Driven by Increased Prevalence of Cardiovascular Diseases

2014-03-12
Published : Mar-2014

With rise in the incidences of cardiac diseases, the global market for cardiac pacemaker market has witnessed strong growth in the last couple of years. Technological advancement and innovation in the development of cardiac pacemakers has been some of the contributing factors that have fueled the growth of cardiac pacemakers worldwide. Increase in aging population who suffer from various cardiovascular diseases has also contributed to the demand of cardiac pacemakers. In the rapidly growing cardiovascular devices market, pacemakers account for the largest segment. The global cardiac pacemaker market is expected to grow at a compound annual growth rate of 13.83 percent from 2013 to 2018. Currently, North America is the largest market for cardiac pacemaker, followed by Europe.

The global cardiac pacemaker market can be segmented according to product type and its demand across different geographical regions. On the basis of product, the market can be segmented as implantable pacemaker and external pacemaker. Implantable pacemakers can be further categorized as single chamber pacemakers and dual chamber pacemakers. According to demand of pacemakers across different geographical regions, the market can be segmented as North America, Asia-Pacific, Europe and rest of the world. Implantable pacemaker is the leading product segment in the global pacemaker market, both in terms of revenue and volume. Although North America and Europe are the leading market for cardiac pacemakers, Asia-Pacific is expected to witness rapid growth in the coming years.

Key players in the global market for cardiac pacemaker are Medtronic Inc., Sorin Group, Biotronik, St. Jude Medical Inc., Pacetronix Ltd. Cook Medical Inc. and Boston Scientific Corporation. The introduction of advanced pacemakers with remote patient monitoring functionalities has further boosted the market for cardiac pacemakers. Remote patient monitoring helps reduce frequent patient visits for follow-ups and sends data to the clinic where the physician can review the data. Remote monitoring is expected to increase patients’ acceptance of cardiac pacemakers. However, certain challenges such as decline in average selling price of pacemakers as well as increase in the acceptance of CRT devices are going to be major restraints market. With increased prevalence of heart diseases in the world and increase in aging population, the market for global cardiac pacemaker is expected to flourish.

Explore the latest market research report on global pacemaker market @ http://www.sandlerresearch.org/global-cardiac-pacemaker-market-2014-2018.html

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