Cardiac Pacemaker Market Analysis | CMI

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CARDIAC PACEMAKER MARKET ANALYSIS

• Cardiac Pacemaker Market, by Product Type
  (Implantable cardiac pacemaker (Single chambered,
  Dual chambered and Biventricular) and External
  cardiac pacemaker), by End User (Hospitals and
  Ambulatory Surgical Centers), and by Region -
  Size, Share, and Forecast to 2026
• The global cardiac pacemaker market was valued at
  US 5,972.2 million in 2017, and is expected to
  witness a CAGR of 7.3 over the forecast period
  (20182026).

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Figure 1. Global Cardiac Pacemaker Market value
Analysis (US Mn) and Forecast and Absolute
Opportunity
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Cardiac Pacemaker Market Dynamics

• Increasing incidence of cardiovascular diseases
  worldwide is fueling growth of the Cardiac
  Pacemaker Market. According to the Centre for
  Disease Control and Prevention (CDC) foundation,
  2015, around 800,000 Americans die due to stroke
  and other cardiovascular diseases.
• Moreover, increasing number of geriatric
  population across the various regions worldwide
  along with high prevalence of heart disease is
  expected to propel demand for implantable cardiac
  pacemakers in the near future. According to the
  data published in the Journal of the Formosan
  Medical Association, in November 2016, around
  half of the world population living in Asia is
  geriatric population and it is growing at faster
  rate, which is increasing burden of Atrial
  Fibrillation (AF) in Asia. According to the same
  source, in 2050, around 72 million people are
  projected to suffer from AF in Asia, which is
  expected to be more than double the combined
  numbers of patients from Europe and the U.S.

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• Introduction of advance technology such as
  wireless and automated pacemaker monitoring
  pacemakers are gaining significant traction among
  healthcare providers. Moreover, increasing
  adoption of advanced technologies in cardiac
  pacemakers such as MRI safe-pacemakers,
  pacemakers with improved battery life, delay the
  progression of persistent Atrial Fibrillation
  (AF) in patients suffering from bradycardia and
  wireless automated technologies have gained
  significant traction among cardiac pacemakers
  market players, which is expected to drive growth
  of cardiac pacemakers market.
• For instance, in February 2017, Abbott received
  the Food and Drug Administration (FDA) approval
  for its MR-conditional labeling for both of its
  products i.e. Assurity MRI pacemaker and the
  Tendril MRI pacing lead. However, installation of
  pacemakers is associated with risk of developing
  infections in cardiac patients, which may
  restrain market growth. Pacemaker surgery can led
  to various complications such as swelling,
  bruising, bleeding, or infection at the of area
  of pacemaker implantation leading to blood vessel
  or nerve damage, which may reduce the adoption of
  cardiac implants in patients, in turn negatively
  impacting market growth.

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Cardiac Pacemaker Market Regional Outlook

• On the basis of geography, the global cardiac
  pacemaker market is segmented into North America,
  Europe, Asia Pacific, Latin America, Middle East,
  and Africa. North America is expected to hold
  dominant position in this market, owing to
  increasing prevalence of heart diseases and
  adoption of technologically advanced products.
  Moreover, factors such as improved healthcare
  facilities and better reimbursement scenario are
  also driving growth of the cardiac pacemakers
  market in this region.
• In March 2017, Medtronic issued Medicare
  reimbursement for the first leadless cardiac
  pacemaker Mica Trans catheter Pacing System
  (TPS), which is available in the U.S. Asia
  Pacific is projected to witness significant
  growth in market over the forecast period, owing
  to presence of large patient population,
  increasing healthcare expenditures in emerging
  economies such as India and China which, and
  growing healthcare sector. Emerging economies
  such as Asia Pacific and Latin America has huge
  potential for market growth and is likely to be
  the fastest growing region throughout the
  forecast period.

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Key Players

• Major companies operating in the cardiac
  pacemaker market include Medtronic Plc.,
  BIOTRONIK, Inc., Boston Scientific Corporation,
  Abbott Laboratories, Vitatron Holding B.V., Shree
  Pacetronix Ltd., MEDICO S.p.A., Lepu Medical
  Technology Co Ltd., LivaNova PLC, and Qinming
  Medical, and Cordis Inc.

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