Cardiac Pacemaker Market 2018 to Get Flourish by Reaching Double Digit CAGR by 2023 along with Medtronic, Abbott, BIOTRONIK, Etc Leading Players

Market Research Future publishes a market reports related to the healthcare sector among others, recently forecasted in its report on Global Cardiac Pacemakers Market Research Report- Forecast to 2023 that the market will demonstrate a steady CAGR of 7.9% while achieving million dollar growth readily in the forecast period.

Cardiac pacemaker is an artificial heart rhythm management device which sends electrical pulses to the heart in order to maintain regularity of the heart rhythm. The cardiac pacemakers can be implantable or external or can be biventricular, single-chambered, or dual-chambered. Implantable pacemakers are extensively used over the external pacemakers. Doctors usually recommend single chamber or dual chamber pacemaker according to the medical condition of the patient.

Increasing prevalence of atrial fibrillation (AFib), which is the most common type of heart arrhythmia drives the market growth for cardiac pacemakers. In 2017, according to the Centers for Disease Control and Prevention, 2.7-6.1 million people in the U.S. are estimated with the medical condition of AFib. Moreover, according to the Singapore Heart Foundation, AFib is most likely to affect the geriatric population, affecting one in every 20 individuals over 65 years of age.

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This growing geriatric population is expected to boost the market growth in the presence of the increasing healthcare expenditures. According to the World Health Organization in 2015, geriatric population is expected to reach 2.1 billion by 2050. However, the high cost of the pacemakers followed by the need for surgery and risks of dysfunctioning associated with cardiac pacemakers will restrain the market growth during the forecast period.

Key Players for Global Cardiac Pacemaker Market

The key players in the Global Cardiac Pacemaker Market are Medtronic (U.S.), Abbott. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK (Germany), LEPU MEDICAL (U.K), SORIN Group (Europe), MEDICO S.p.A. (Europe), OSCOR Inc. (U.S.), and others.

Segmentation For Global Cardiac Pacemaker Market

The global cardiac pacemaker market is segmented on the basis of type, technology, application, and end users.

On the basis of the type, the market is segmented into implantable, external cardiac pacemaker, and others.

On the basis of the technology, the market is segmented into biventricular, single-chambered, dual-chambered, and others

On the basis of the application, the market is segmented into arrhythmias, congestive heart failure, and others. The arrhythmias segment is sub-segmented into tachycardia, bradycardia, and others.

On the basis of the end users, the market is segmented into hospitals, cardiac care centers, medical institutes, and others.

Regional Analysis for Global Cardiac Pacemaker Market

The Americas dominate the Global Cardiac Pacemaker Market owing to the well-developed healthcare sector, huge patient population, changing lifestyle, increasing healthcare expenditure, and growing geriatric population.

Europe is the second largest Cardiac Pacemaker Market owing to the availability of funds for research, huge patient population, increasing healthcare expenditures, and well-developed healthcare sector.

Asia Pacific is the fastest growing region in the Global market. The presence of a huge patient population and continuously developing economies like India and China drive the market growth during the forecast period.

On the other hand, the Middle East & Africa holds the least share in the Global cardiac pacemaker. A majority of the market in the Middle East & Africa is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure.

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