Cardiac Pacemaker Market Scope
Cardiac pacemaker is a small battery operated electrical device used for treatment of arrhythmias in patients suffering from irregular heartbeat. It sends a signal to patient heart that helps the heart beat in a regular rhythm or at the correct pace. In the current scenario, advancement in cardiac surgery, and the sedentary lifestyle of people has led to the increase in number of people being susceptible to numerous cardiac diseases, which in turn is boosting the growth of cardiac pacemaker market globally. Moreover, the surging number of geriatric population across the world is yet another determinant fuelling the growth of the very market.
According to AMA, the Global Cardiac Pacemaker market is expected to see growth rate of 7.5%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cardiac Pacemaker market throughout the predicted period.
Medtronic (Ireland), Biotronik (Germany), Boston Scientific (United States), St.Jude Medical (United States), Shree Pacetronix (India), Oscor (United States), Galix Biomedical Instrumentation (United States), Osypka Medical Inc. (United States), Abbott (United States) and Cook Medical Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Braile Biomedica (Brazil) and Cardioelectronica (Russia).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Cardiac Pacemaker market by Type (Implantable Cardiac Pacemaker and External Cardiac Pacemaker), by Application (Heart Block, Sick Sinus Syndrome, Diagnosing Heart Diseases and Other) and Region with country level break-up.
On the basis of geography, the market of Cardiac Pacemaker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In April 2019, Oscor announced a strategic alliance with micro interventional devices that leverages each company’s unique strengths and capabilities to further develop and commercialize innovative solution to structural heart disease, specifically, MID’s MIATM, Minimally Invasive Annuloplasty, technology.
Market Trend
- Adoption of Advanced Technology Such as Wireless and Automated Pacemaker
- Implantable Micropacemakers Designed for Fetal Use
Market Drivers
- Increasing Burden of Cardio Vascular Diseases
- The growth in Number of Geriatric Population Across the Globe
- Increasing Number of ASCS in Developed Countries
Opportunities
- Increasing Incidences of Cardiac Diseases Including Atrioventricular Blocks, Cardiac Arrest, Sick Sinus Syndrome and Ventricular Fibrillation Worldwide
Restraints
- High Cost of Pacemakers and Unfavorable Reimbursement Scenario
Challenges
- Shortage of Cardiac Surgeons in Developing Economies
- Frequent Product Recalls
Key Target Audience
Cardiac Pacemaker Manufacturers, Component Supplier, End-User and Other