Published By : 04 Apr 2016 | Published By : QYRESEARCH
The global cardiac pacemaker market has been witnessing a soaring demand. The increasing incidence of heart failure has prompted the demand for cardiac pacemaker significantly in the global arena.
Demand for Implantable cardiac Pacemaker to Remain High
Implantable cardiac pacemaker and external cardiac pacemaker are the two main products available in this market. The highest demand in 2014 was for implantable pacemaker. Analysts has also anticipated this segment to register the fastest growth over the next few years.
The efficiency of implantable pacemakers, the usage of the highly advanced technologies, and the rising prevalence of bradycardia, caused by atrio-ventricular block or sick sinus syndrome or both, has led to a steady rise in the demand for implantable cardiac pacemaker across the world in the recent times.
Asia Pacific Cardiac Pacemaker Market to Report Fastest Growth in Future
North America and Europe are leading the global cardiac pacemaker market. In 2014, both the markets collectively accounted for a share of approximately 88% in the overall market. The rapid rise in the incidence of cardiac failure to bradycardia has fueled the demand for cardiac pacemaker in these regions. The steady increase in cardiac pacemaker procedural volume as well as the increasing approval of new products are also fueling the cardiac pacemaker markets in Europe and North America.
On the flip side, the Asia Pacific cardiac pacemaker market is likely to gain significant impetus in the near future. Analysts expect this regional market to report the fastest growth in the coming years. The emergence of the medical tourism industry in Asia Pacific on account of the low-cost medical procedures, is driving the market for cardiac pacemaker significantly in this region.
St. Jude Medica Inc., SORIN S.p.A., Medtronic, MEDICO S.p.A., Cook Medical Inc., Boston Scientific Corp., BIOTRONIK SE & Co. KG are some of the major cardiac pacemaker manufacturers in the global arena.