PUNE, MAHARASTRA, INDIA, November 12, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Cardiac Pacemaker Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Cardiac Pacemaker Market
A cardiac pacemaker (or artificial pacemaker, so that people do not confuse it with the natural pacemaker of the heart is a medical device that generates electrical impulses. These impulses are delivered by the electrodes to contract the heart muscles and also regulate the electrical conduction system of the heart. Its primary purpose is to maintain a normal heart rate because of two reasons: either the heart’s natural pacemaker is not fast enough or because there is a block in the heart’s electrical conducting system. The global cardiac pacemaker market was valued at US$ 5972.2 million in 2017 and is projected to exhibit a CAGR of 7.3% during the forecast period of 2019-2026.
There are many technologically advanced pacemakers nowadays. They include MRI safe-pacemakers, cardiac pacemakers with improved battery life and many more. It is expected that these will result in improved health outcomes for patients with AF (Atrial Fibrillation) and those suffering from bradycardia. Key manufacturers focus on launching more compact and efficient technologies that help pacemaker devices for a better outcome. This, in turn, allows better control over abnormal heart rhythm and other specifications such as blood temperature monitoring and monitoring breathing rate.
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By product type, the global cardiac pacemaker can be divided into 5 types. They are a single-chambered, double-chambered, biventricular, implantable cardiac pacemaker, external cardiac pacemaker. By the end-user, the cardiac pacemaker market can be classified into hospitals and ambulatory surgical centers.
By region, the global cardiac pacemaker market has many divisions. They are: North America pacemaker market (US, Canada), Europe pacemaker market (UK, Germany, Italy, Spain, France, Russia and Rest of Europe), Asia Specific Pacemaker market (Australia, India, China, Japan, ASEAN, South Korea and Rest of Asia Pacific), Middle east pacemaker (GCC, Israel and Rest of Middle East)and Africa pacemaker (South Africa, Central Africa and North Africa).
The global cardiac pacemaker market is supposed to witness a CARG of 7.3 % during the forecast period of 2018-2026. It is because of the increasing number of product approvals from regulatory authorities. Among the regions, Europe is expected to show significant growth in the cardiac pacemaker market. This is because of the increasing number of product approvals in the region.
Key Players of Global Cardiac Pacemaker Market =>
The major players which are operating in the global cardiac pacemaker market include Medtonic Plc., Abbot Vascular Inc., Edwards Lifestyle corporation, Boston Scientific Corporation, Thoractec Corporation, Syncardia systems Inc., Biotronic, B. Braun Melsungen AG and LivaNova PLC.
The global market for cardiac pacemaker market is primarily driven by one factor. It is the growing prevalence of Cardiovascular Diseases (CVD), growing geriatric population and technological advances in the cardiovascular field. The high cost of equipment and patient concerns after the implantation are a few major restraining factors for the cardiac pacemaker market growth. The new emerging market players are designing the modern implantable pacemakers. This can be an opportunity for the cardiac pacemaker market. Implantable pacemakers are supposed to hold the largest market share in this type of pacemakers market. It is because it is effective due to multiple leads which allows normal functioning of the heart and ease of further advancements.
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Source: EIN Presswire