Press release
Cardiac Pacemaker Market Report 2023 Future Analysis, Demand by Regions and Opportunities with Challenges 2033
The cardiac pacemaker market is driven by several factors, including the increasing prevalence of cardiovascular diseases, the growing geriatric population, and technological advancements in cardiac pacemakers. In addition, the increasing awareness of cardiac health and the availability of favorable reimbursement policies are also driving the growth of the cardiac pacemaker market.
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Global cardiac pacemaker market dynamics
A key unmet need in global cardiac pacemaker market is the lack of a 100% safe and efficient pacemaker device to treat arrhythmias. There is an imperative need for development of cost-effective and rapid diagnostic methods for arrhythmias with a growing geriatric population and increasing patient pool with escalating global demand for treatment.
This is anticipated to offer lucrative opportunities to new players in the global cardiac pacemaker market. Various key players in the cardiac pacemaker market are signing partnerships and licensing deals to share the research and development platform. In 2014, Medtronic has signed a deal with Lifetech Scientific to bring pacemaker into the Chinese market. According to the agreement, Lifetech Scientific shall manufacture pacemaker at their facility and Medtronic's would provide with technology and required training.
Companies
BIOTRONIK SE & Co. KG
Boston Scientific Corporation
Medtronic
St. Jude Medical Inc.
LivaNova PLC.
lepumedical.com
Osypka Medical GmbH
Pacetronix.com
MEDICOWEB
Others.
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Global cardiac pacemaker market forecast
The market is segmented based on product type, end users, and regions. Based on product type, the market is segmented into implantable pacemaker and external pacemaker. Both the segments are expected to exhibit a negative CAGR for the forecast period, owing to increasing number of device recall related to device malfunctioning. The implantable pacemaker segment is expected to exhibit a declining CAGR of -0.5% and external pacemaker segment is expected to exhibit a declining CAGR of -1.0% during the forecast period.
Based on end users, the market is segmented into hospitals and ambulatory surgical centers. The hospitals segment is anticipated to account for the highest market share over the forecast period exhibiting a declining CAGR of -0.1% due to better reimbursement rates offered by government and non-government bodies.
This report assesses trends, that drive growth of each segment on the global as well as regional levels, and offers potential takeaways, that could prove substantially useful to medical device manufacturing companies who wish to enter into the global cardiac pacemaker market. North America and Europe are expected to lose market share in terms of revenue generation.
Latin America, APAC, and MEA are collectively expected to be more attractive in terms of revenue generation in the global cardiac pacemaker market in 2016 with growth in revenue for the forecast period. Latin America is expected to expand at a CAGR of 1.1% closely followed by Asia Pacific with a CAGR of 1.0% over the forecast period, due to increase in the diagnosis rate and improved healthcare infrastructure.
The India cardiac pacemaker market is expected to increase over other markets and register a CAGR of 1.5% in the region due to increased government initiative, increase in health care expenditure, and increase in disease prevalence. The growth of cardiac pacemakers in this region is largely due to increased participation of local manufacturers and increasing healthcare expenditure.
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Key Questions Answered in This Report.
What are the Roadblocks for Cardiac Pacemaker Market Suppliers?
What are the Key Opportunities for Cardiac Pacemaker Market Manufacturers?
How is Focus on Safety Influencing Cardiac Pacemaker Market Demand?
What is the Regulatory Impact on Global Sales of Cardiac Pacemaker Market?
Which Region Offers the Largest Opportunity for Sales of Cardiac Pacemaker Market?
Where Does the U.S. Stand in the Market for Cardiac Pacemaker Market?
What Is the Outlook for Cardiac Pacemaker Market Manufacturers in China?
Why is Germany a Lucrative Market for Cardiac Pacemaker Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Cardiac Pacemaker Market?
Why is There High Demand for Tires in Cardiac Pacemaker Market?
Why are Sales of Cardiac Pacemaker Market Surging?
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