What is Cardiac Pacing?
Cardiac Pacing is a medical device which uses electrical impulses, delivered by electrodes contracting the heart muscles, to regulate the beating of the heart. There is growing trend about the market of cardiac pacing as there is increasing burden of cardio vascular diseases along with growing numbers of geriatric population across the globe. While some of the factors are there which are challenging the market scenario such as high cost associated with the cardiac pacing and even there are shortage of surgeons across various region.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Medtronic (Ireland), Abbott (United States), Boston Scientific (United States), BIOTRONIK (Germany), Sorin Group (Italy), LivaNova (United Kingdom), Pacetronix (India) and Osypka Medical (Germany) |
CAGR | 3.2% |
The Global Cardiac Pacing market is expected to see growth rate of 3.2% and may see market size of USD5.9 Million by 2027.The Market is currently pegged at USD4.2 Million. The study covers a detailed analysis segmented by key business segments i.e. by type (Temporary, Single-Chamber, Dual-Chamber, Single-Chamber ICD and Dual-Chamber ICD) , by application (Bradycardia, Atrial fibrillation, Heart failure and Syncope) and major geographies.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Cardiac Pacing market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Medtronic (Ireland), Abbott (United States), Boston Scientific (United States), BIOTRONIK (Germany), Sorin Group (Italy), LivaNova (United Kingdom), Pacetronix (India) and Osypka Medical (Germany).
Medtronic received FDA approval and launched the Azure pacemaker with BlueSync technology in the US market.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies.
Cardiac Pacing Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Burden of Cardio Vascular Diseases
- The growth in Number of Geriatric Population Across the Globe
- Increasing Number of ASCS in Developed Countries
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Major Trends | - Adoption of Advanced Technology in Cardiac Pacing
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Restraints | - High Cost of Cardiac Pacing and Unfavorable Reimbursement Scenario
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Road Blocks / Challenges | - Shortage of Cardiac Surgeons in Developing Economies
- Frequent Product Recalls
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Gaps & Opportunities | - Increasing Incidences of Cardiac Diseases Including Atrioventricular Blocks, Cardiac Arrest, Sick Sinus Syndrome and Ventricular Fibrillation Worldwide
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Key highlights of the Global Cardiac Pacing market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Cardiac Pacing market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Cardiac Pacing market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Cardiac Pacing Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cardiac Pacing market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Cardiac Pacing market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Hospitals &, Ambulatory Surgical Centers, Manufacturers, Laboratories, Government Bodies, Research Organization and End users.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.