Dual-chamber Pacemakers Market Scope and Opportunities Analysis by 2025
Arrhythmia increases chances of cardiac stroke, cardiac arrest, and heart attack. According to the Centers for Disease Control and Prevention (CDC), in the U.S., every 40 seconds, an individual suffers a heart attack and every year, 790,000 individuals suffer a heart attack. Among these, 580,000 Americans suffer a heart attack for the first time and 210,000 Americans suffer a heart attack, which is not their first experience. Heart disease is one of the leading causes of death in women as well as men. In 2015, more than 50% of men died due to a heart attack.
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Increasing geriatric population leads to the rise in demand for dual-chamber pacemakers. Heart failure is one of the major factors driving the global Dual-Chamber Pacemakers Market. It is caused by various reasons including diabetes, high blood pressure, and coronary heart disease. According to the CDC, in 2009, in the U.S., one out of 9 deaths was caused by heart failure and approximately 5.7 million adults suffered from heart failure. The U.S. suffers high cost due to heart failures, which is approximately US$ 30.7 Bn every year. This cost includes the cost of missed days of work of patients, medications to treat heart failure, and cost of health care services.
Approximately 50% of patients diagnosed with heart failure die within five years. Technological advancements in the research and development of dual-chamber pacemakers are driving the global dual-chamber pacemakers market. Stringent regulatory reforms restrain the market, as major manufacturers of dual-chamber pacemakers may face difficulty in introducing an innovative product into the market.
The global dual-chamber pacemakers market can be segmented in terms of product type, end-user, and region. In terms of product type, the market can be categorized into conventional type and advanced type dual-chamber pacemakers. Based on end-user, the market can be segmented into hospitals and specialized clinics.
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Geographically, the global dual-chamber pacemakers market can be classified into Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. North America is anticipated to hold a major market share during the forecast period, due to technological advancements, high disposable income, and increasing geriatric population in the region. Obesity; lack of exercise; consuming foods high in sodium, cholesterol, and fats; and smoking tobacco have led to growth of the global dual-chamber pacemakers market. The market in Asia Pacific is expected to expand significantly during the forecast period, led by increasing government initiatives and awareness about dual-chamber pacemakers in the region.
Key players operating in the global dual-chamber pacemakers market include BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Medtronic, St. Jude Medical, LLC, LivaNova PLC, and lepumedical.com.
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