Cardiac Pacemakers Market Professional4 months ago - Services - Pune - 133 view
Cardiac Pacemakers Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at a CAGR of XX % in the forecast Period.
A pacemaker is a medical device that generates electrical pulses delivered by electrodes to contract the heart muscles and regulate the electrical conduction system of the heart. The increasing prevalence of atrial fibrillation (AFib), growing geriatric population, and rising health care expenditures are triggering the growth of Cardiac Pacemakers Market.The growing prevalence of rising geriatric population coupled with the increasing predominance of cardiovascular diseases, favorable reimbursement scenario, technological advancement in cardiac pacemakers systems and entry of new players drive the growth of the Cardiac Pacemakers Market. However, the high cost of the pacemakers followed by the need for surgery and risks of dysfunctioning associated with cardiac pacemakers will restrain the market growth during the forecast period.
Cardiac pacemakers market is majorly segmented by product type, technology, and geography. Based on product type, the market is segmented into the implantable cardiac pacemaker and external cardiac pacemaker. The implantable cardiac pacemaker is expected to grow at the highest CAGR during the forecast period. This can be attributed to the presence of multiple leads, which enable the normal physiological functioning of the heart, resulting in fewer post-operative complications.on Technology, the Global Cardiac Pacemakers Market is segmented into single chambered, dual chambered, and biventricular. The single-chambered segment is expected to grow at the highest CAGR during the forecast period. The high growth of the segment can be mostly attributed to the large advanced technology and favorable reimbursements for cardiac pacemaker surgery treatment in developed countries.The North America region in the cardiac pacemakers market holds a major market share and is primarily driven by factors such as the rise in the incidences of hypertension. High cholesterol and diabetes have resulted in the increase of cardiovascular diseases in the region.
The Asia-Pacific region is expected to witness a significant growth during the forecast period as compared to the developed markets due to the huge patient pool with chronic diseases and increasing healthcare expenditure. Several government initiatives are anticipated to create a free and open economy. Also, recently introduced economic reforms in China, promoting a well-balanced and open economy will have a significant impact in shaping the fortune of the market.Cardiac Pacemakers Market share is consolidated, as the key multinational players occupy the major industry share. 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. are some of the major industry players. Medtronic, a leading player, has gained a high market share due to its diverse product range in cardiac pacemakers. The Medtronic Company is well established and enjoys a prominent presence in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions are the key strategies adopted by industry players.
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