A pacemaker is a small device that is used to regulate your heart rhythm. The global pacemaker market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Cardiac pacemaker are the artificial heart rhythm management devices which regularize the heartbeats by sending the electrical impulses to the heart. External pacemakers are the temporary pacing devices which are used during the cardiac surgical procedures to maintain the heartbeat rhythms. External pacemakers require a fully furbished clinical facility. On the other hand, implantable pacemakers are placed inside the skin on the left side of the chest of the patient. The normal life of an implantable pacemaker device is said to be 10 years. The average cost of the device is around $10000 in US. But due to the favourable reimbursement policies of the government, it becomes affordable for the people to undergo the implantation procedure leading to the growth of the market. Among the two types implantable and external, implantable cardiac pacemakers are the most preferred pacemakers by the physicians. The market for implantable pacemaker is very large as compared to external pacemaker. After the certain age, heart starts to develop some irregularities in the rhythmic pattern. With the increasing age, the prevalence of arrhythmia rises leading to the various heart problems including the strokes and heart attacks. Pacemakers help in managing these irregularities and arrhythmias to lead the patient to a healthy life. Rise in the geriatric population, rise in the number of incidences of coronary diseases and number of deaths due to heart attacks are some of the factors which boost the demand of the cardiac rhythm management devices including the pacemakers. However, the recent developments in the implantable cardiac defibrillators have turned the tables to an extent. The increasing popularity of the implantable cardiac defibrillators can hamper the growth of the cardiac pacemakers globally.
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According to the Centres for Disease Control and Prevention (2015), over 630,000 Americans died from heart disease each year, which accounted for 1 in every 4 deaths. According to findings from the World Health Organisation (WHO), in 2015, 82% of the total deaths were occurred in low- and middle-income countries. According to survey conducted by Johnson and Johnson Pvt. Ltd. around 2.5 million cardiovascular surgeries are performed in America every year.
According to the population reference bureau, the number of Americans ageing 65 and older is projected to more than double from 46 million in 2015 to over 98 million by 2060.
According to the StastsCan, 2015, over 5.7 million Canadians have aged 65 and older, which was 16.1 % of Canadian population.
Global Pacemaker Market – Competitive Analysis
ATS Medical (U.S.), Biotronik GmbH & Co. KG (Germany), Boston Scientific Corporation (U.S.), Edwards Lifesciences (U.S.), Medtronic Plc (U.S.), Sorin Group, St. Jude Medical Inc. (U.S.), Vitatron Holding B.V. (the Netherlands), Zoll Medical Corporation (U.S.) are some of the prominent players at the forefront of competition in the Global Pacemaker Market and are profiled in MRFR Analysis.
July, 2016- BIOTRONIK had received CE approval for its Edora pacemakers and cardiac resynchronization therapy pacemakers. Biotronik is one of the global leader in cardio- and endovascular medical technology, and is headquartered in Berlin, Germany, and represented in over 100 countries. Many patients have used company implants with improved quality, or have been treated with company’s coronary and peripheral vascular intervention products. However, the company was first to develop pacemaker in 1963, moreover the company has engineered many innovations, which includes Magmaris, the first clinically proven bioresorbable magnesium scaffold, Home Monitoring, Pulsar 18- the world’s first 4 F compatible stent for treating long lesions, Orsiro, first hybrid drug-eluting stent; and the world’s first implantable cardioverter defibrillators and heart failure therapy devices with ProMRI technology
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Global Pacemaker Market – Regional Analysis
Depending on geographic region, pacemaker market is segmented into four key regions: America commands the largest global pacemakers market due to increasing awareness among the people towards the use of innovative technologies is the key factor for the growth of the market. North America is the major contributor of America pacemakers market owing to increasing financial capability of hospitals, increasing prevalence of chronic diseases, strategic collaboration with assurance companies in this region also contributed in the growth of the market. Europe is the second-largest market globally for cardiac pacemaker which is expected to continue its growth in the near future. Asia pacific region is expected to be fastest growing region in cardiac pacemaker market. However, The Middle East and Africa has the lowest market for pacemakers because of limited development in medical field.
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