This study covers the market dynamics and trends
in major countries that are expected to influence the current market scenario
and future status of the Global Pacemaker Market over
the forecast period.
Market
Scenario:
The
global pacemaker market is expected to gain prominence over the forecast period
(2018–2023). It is estimated that the global pacemaker market is expected to
grow at a CAGR ~6.5 % during the forecast period of 2018–2023.
A
pacemaker is a small device that consists of a pulse generator which has a
battery and a tiny computer circuit and pacing leads. This device is used to
treat Atrial Fibrillation (AF).
The
increasing prevalence of cardiac diseases and growing geriatric population are
propelling the growth of this market. The management of atrial fibrillation in
the old age population is complex due to altered pharmacology, competing
comorbidities, limited life expectancy, frailty, and varied treatment goals.
According to a 2018 study published in the Aging Medicine, the prevalence of
atrial fibrillation is estimated to be 0.3% in 40 years old patients, 5 to 9%
in between 60-80 years old patients, and nearly 10% of patients more than 80
years old.
Furthermore,
raising awareness about awareness about cardiovascular disorders, and
technological advancements in cardiac pacemakers boosts the growth of the
global pacemaker market.
However,
the complications associated with the implant and the high cost of pacemakers
may hinder the growth of the market during the forecast period.
Segmentation
The
global pacemaker market is segmented on the basis of the product type,
application, implant approach, end-user, and region.
On the
basis of the product type, the market is classified as implantable, and
external. The implantable segment is further sub-segmented as a single chamber,
dual chamber, and biventricular.
On the
basis of the application, the market is segmented into bradycardia, heart
failure, hypertrophic cardiomyopathy, syncope, and others. The bradycardia
segment is further sub-segmented as sinus node dysfunction, and AV block.
On the
basis of the implant approach, the market is segmented as endocardial approach
and epicardial approach.
On the
basis of end-user, the market is segmented as hospitals & clinics,
ambulatory surgical centers, research & academic institutes, and others.
Geographically,
the global pacemaker market has been segmented into America, Europe, Asia
Pacific, and the Middle East and Africa. The American pacemaker market is
further segmented into North America and South America. North America is
further classified as the U.S. and Canada.
The
Europe pacemaker market is segmented into Western Europe and Eastern Europe.
Western Europe is further classified as Germany, France, the U.K., Italy,
Spain, and the Rest of Western Europe.
The Asia
Pacific pacemaker market is segmented into Japan, China, India, Republic of
Korea, Australia, and the Rest of Asia Pacific.
The
Middle Eastern and African pacemaker market is segmented into the Middle East
and Africa.
Regional
Market Summary
The
American region holds the major share of the global pacemaker market, owing to
the existing well-established healthcare system, growing geriatric population,
and technological advancements. For instance, in November 2017, Medtronic plc
received FDA approval for Azure pacemakers with BlueSync technology. The Azure
XT pacemaker features the Medtronic Reactive ATP algorithm to slow the
progression of atrial fibrillation in patients with implanted cardiac devices.
Europe
holds the second position in the global pacemaker market. It is expected that
the government support towards research & development expenditure and
rising contribution of leading market players is likely to drive the European
pacemaker market. The rising cases of cardiovascular diseases are
continuously motivating marketers to come up with more advanced technology. In
June 2017, BIOTRONIK launched Edora SR-T globally. Edora SR-T is the smallest
MR conditional pacemaker with an automated MRI detection capability.
The Asia
Pacific pacemaker market consists of countries namely China, Japan, Republic of
Korea, India, Australia and Rest of Asia Pacific. The rising prevalence of
atrial fibrillation is propelling the growth of the market. In Asia, the
prevalence of atrial fibrillation has been estimated to be 1%. It is also
estimated that by 2050, 72 million individuals in Asia will be diagnosed with
atrial fibrillation, i.e., more than double the combined numbers of patients in
the U.S., and Europe.
The
Middle East & Africa holds the lowest share of the global market due to low
development, lack of technical knowledge, and poor medical facilities.
Key Players
Medtronic
Plc, Biotronik GmbH & Co. KG, Boston Scientific Corporation, St. Jude
Medical Inc., ZOLL Medical Corporation, MEDICO S.p.A, Vitatron, Pacetronix,
Cordis, Inc., Sorin Group, Edwards Lifesciences, General Electric Company, and
Cook are some prominent players in this market.
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Detailed
Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market
Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research
Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor
Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
...Continued
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