Cardiac Pacemaker Market Trends and Forecast Research Report to 2023

The global cardiac pacemaker market has been expanding with the rising burden of cardiac diseases and increasing need for cardiac rhythm management. Factors like atrial fibrillation and rising geriatric population is creating a robust growth scope for cardiac pacemaker market.

By 2025 the global geriatric population is expected to surpass 2.1 billion. However, older people are more active now than they ever used to be and activities like swimming, jogging and riding bikes to stay fit are activities most people above the age of 50 indulge in and are recommended to pursue by doctors.

However, disorders like cardiac arrhythmia can pose a significant hindrance to such activities and therefore more people are turning to cardiac implants like pacemakers to live a more active life. Assessments by Market Research Future affirms that cardiac pacemaker market is expecting a 7.9% CAGR over 2017-2023.

Cardiac pacemaker industry giants are also investing immensely in the development of enhanced pacemaker technologies to augment their position in the market. For instance, Medtronic created ripples in the cardiac pacemaker market when it launched the smallest pacemaker in the world. Micra, as the device is called was approved by the U.S. FDA in 2016 and is a part of Medtronic’s deep miniaturization program. It is a leadless pacemaker and is implanted directly into the patient’s heart and the minimally invasive surgery makes it possible to go back to daily activities within two days.

Segmentation:

Cardiac pacemaker market is segmented on the basis of type, application, technology and end-users.

On the basis of type cardiac pacemaker market is further subdivided as external cardiac pacemaker, implantable and others.

By technology cardiac pacemaker market is classified into dual-chambered, single-chambered, biventricular and others.

Application-wise segmentation of cardiac pacemaker market comprises congestive heart failure, arrhythmias and others. Arrhythmias segment is further subdivided bradycardia, tachycardia and others.

End user segmentation of cardiac pacemaker market includes cardiac care centers, hospitals, medical institutes and others

Competitive Insight:

There are several significant players in the cardiac pacemaker market such as Medtronic, BIOTRONIK, Boston Scientific Corporation, Abbott, MEDICO S.p.A., SORIN Group, LEPU MEDICAL, OSCOR Inc. etc. Most of these companies are investing heavily in research and development activities that can lend an added competitive edge to them. On the other hand, they are also undertaking strategic moves and investing in merger, acquisition and collaborations to gain an expanded share in the cardiac pacemaker market.

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