Increasing Global Cardiac Pacemakers Market with Factors Affecting to Up the market. Moreover, industrial growth coupled with development in technology is expected to boost the market size revenue.
Cardiac Pacemakers Market: Challenges
There are Certain Challenges that the Cardiac Pacemakers market face. Factors such as high initial installment costs, losses involved and External backup needs in case of system failure.
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The Global Cardiac Pacemakers Market is accounted for $8.01 billion in 2016 and expected to grow at a CAGR of 9.3% to reach $14.99 billion by 2023. The factors such as incidence of cardiovascular diseases, implementation of minimally invasive procedures, government-aided awareness programs and multiple technologies such as advanced material and software for cardiac pacemaker are propelling the market growth. However, high cost of treatment and increase in product recalls will restrain the market growth. In addition, trends such as focus on R&D and clinical trials, use of dual-chamber pacemakers increased, focus on development of leadless pacemaker devices and implantable cardioverter defibrillator will be observed by the market.
Based on product segment, Implantable cardiac pacemaker has shown technological advancement as such Leadless pacemakers have other potential advantages over traditional systems. The lack of an extended antenna and limited content of ferromagnetic components makes leadless pacemakers much more readily MR-conditional. The development of miniaturised leadless pacemakers implanted directly into the heart represents a new area for therapy. Also, The biological pacemakers include cardiac cells or cardiac-like cells derived from embryonic stem cells or mesenchymal stem cells are being studied. Recently, wireless endocardial pacing added layer of complexity to the perioperative management of cardiovascular implantable electronic devices (CIED) which has been proposed and still under studies.
Based on technology, the Dual-chamber technology has been adopted as the technology of choice in many Hospitals. This technology represents an advance over single-chamber ventricular demand pacemakers. The radical change in the use for dual chamber technology likely reflects improvements in lead and pacemaker design, which lead to results of clinical trials that highlight the benefits of atrial-based pacing. Dual-chamber pacing is in common usage. Currently, the programming of rate-adaptive AV delay (RAAVD) has been recommended for the optimization of the AVD in atrioventricular block pacing. Improvements in technology, often associated with dual-chamber pacing, come at a higher cost.
North America is a major contributor to the market throughout the forecast period due to the rise in the incidences of hypertension, high cholesterol, and diabetes has resulted in the increase of cardiovascular diseases in the region. Asia Pacific is expected to be the fastest-growing region in the market during the forecast period. Several economic 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, has had a significant impact in shaping the global economy.
Some of the key players in global Cardiac Pacemakers market are Abbott Laboratories, Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cook Medical, Cordis, Inc., Lepu Medical Technology Co ltd, LivaNova Plc, Medico, S.p.A, Medtronic, Osypka Medical GmbH, Pacetronix ltd, SORIN Group, St. Jude Medical, Inc., USCOME LTD, Vitatron and Zoll Medical Corporation.
External cardiac pacemaker
Implantable cardiac pacemaker
End Users Covered:
Clinics and Hospitals
Ambulatory Surgical Centers
Cardiac Care Centers
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o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
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Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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