Pacemakers Market Outlook and Trend Analysis- Medtronic plc, St. Jude Medical, Biotronik, LivaNova P

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A pacemaker is a small, low-voltage medical device implanted in the chest or abdomen to help manage irregular heartbeats. It monitors how slow or fast heart beats and the pattern in which the heart beats. When the heart beats too slowly, the pacing device provides electrical stimulation. This device helps to reduce symptoms of fatigue and dizziness due to slow heart rhythm. During pacemaker implantation, a thin insulated wire, lead, is placed through the veins and into the heart. The lead’s tip is connected to the heart tissue and the other end is attached to the pacing device. The lead provides electrical pulses from the pacing device to the heart and transmits information from the heart back to the device. Around 4 million people across the globe have pacing device implanted. Some pacemakers are designed to facilitate patients to safely undergo an MRI scan. These are known as MRI ready or MR-conditional pacemakers.

Competitive Outlook and Trend Analysis:
The key players operating in the global pacemakers market emphasize on product development in order to introduce improved artificial cardiac management devices and capture a larger share of the market. Some of the major players in this market are Medtronic plc, St. Jude Medical, Biotronik, LivaNova PLC, Vitatron Holding B.V, Boston Scientific Corporation, MEDICO S.p.A and Pacetronix.

Pacemakers Market Segmentation:

By Product Type
External Pacemakers
Implantable Pacemakers
Dual Chamber Pacemakers
Single Chamber Pacemakers
Biventricular Pacemakers

By Region
North America
Rest of Europe
South Korea
Southeast Asia
Rest of Asia-Pacific
South America
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of MEA

Regional Outlook and Trend Analysis:

North America held a significant share of the pacemaker market in 2014 due to the increasing incidence of cardiac diseases and technological advancement in healthcare sectors. The Asia-Pacific market has not experienced any substantial growth due to lack of large scale adoption of artificial heart management devices but can experience favorable growth in coming years owing to increasing awareness related to cardiac diseases in the region.

Industry Trend Analysis:

Increasing cases of Cardiovascular Diseases (CVDs), technological advancement in healthcare sectors and increasing reimbursement initiatives by the Government will primarily drive the growth of the pacemakers market. The increasing mortality rates due to inadequate treatment of cardiac diseases will encourage people to use artificial heart rate management devices owing to which the market is expected to have a steady growth in the upcoming years. For instance, as per CDC, in US, more than half of the Americans suffer from heart diseases every year including both men and women. This statistics indicate that artificial heart management device is the most commonly used device in this region. In addition, availability of adequate reimbursement facilities for implantation of pacemaker aids in reducing financial burden on patients thereby enhances the usage rates of these devices. Technological advancements in cardiac pacemaker are another positive aspect driving the market growth. Transitional tissue welding, dynamic peacemaking technology and microprocessor controlled devices are some of the advanced features that has been incorporated in the devices. However, high pricing of the devices often becomes unaffordable by the people despite of reimbursement facilities. The limitations of cardiac resynchronization therapy (CRT) pacemaker in pediatrics and risk of potential complications will impede the growth of the market. Thus, considering these drivers and restrains the pacemakers market is expected to exhibit steady growth over the forecast period.

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