Sarasota, FL, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Cardiac Pacemaker Market by Product (Implantable Cardiac Pacemaker and External Cardiac Pacemaker) by Technology (Biventricular, Single Chambered, and Dual Chambered): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021”. According to the report, global demand for cardiac pacemaker market was valued at around USD 7.50 billion in 2015 and is expected to generate revenue of approximately USD 12.00 billion by end of 2021, growing at a CAGR of around 8.5% between 2016 and 2021. The cardiac pacemaker volume market stood at approximately 1.3 million units in 2015 and is expected to reach around 2.0 million units by 2021.
Cardiac pacemakers are implanted in order to correct the sinus node function which becomes slow with increasing age, heart disease, or heart medications. Almost all pacemakers are implanted to treat slow heart beating, which is called bradycardia. A pacemaker helps to artificially control the pulse rate of the heart of the patient.
Browse through 24 Market Tables and 16 Figures spread over 110 Pages and in-depth TOC on “Global Cardiac Pacemaker Market: By Product, Technology, Size, Share, Growth, Industry Segment and Forecast 2015-2021”.
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Global cardiac pacemaker market is primarily driven by rising geriatric population coupled along with increasing prevalence of cardiovascular diseases. Other major driving factors for increasing demand are the technological advancement in cardiac pacemakers systems and entry of new players. However, rising incidences of cardiac pacemaker malfunction are major restrain that may limit the growth of the market. Nonetheless, growth in emerging economies is likely to disclose the new avenues for cardiac pacemaker market in the near future.
The cardiac pacemaker market is segmented on the basis of different product including implantable cardiac pacemaker and external cardiac pacemaker. In 2015, the implantable cardiac pacemaker was the largest segment in cardiac pacemaker market and accounted for the largest revenue share of the total market. Additionally, it is expected to continue its dominance and be the fastest growing segment in the global market over the forecast period. Implantable cardiac pacemaker segment is also expected to witness fastest growth rate during the forecast period.
Biventricular, single chambered and dual chambered are the key technology segment of the global cardiac pacemaker market. The dual chambered technology segment dominated the market in terms of volume and revenue while single chambered segment is another major segment of global cardiac pacemaker market. Dual chambered technology segment is expected to grow at fastest growth rate during the forecast period.
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North America held more than 30% share of global cardiac pacemaker market in 2015. North America is projected to be the largest revenue contributing region. North America is expected to remain the dominant region over the forecast period. This is primarily due to rise in a number of geriatric population coupled with the increase in a number of patients with heart disease especially in the U.S. as a result of modern lifestyle which can lead to obesity and high-stress level.
Europe was the second largest market for the cardiac pacemaker in 2015. The increase in a number of elderly population in this region is expected to drive cardiac pacemaker market. Asia Pacific is another leading regional market and is expected to be the fastest regional segment for the cardiac pacemaker market within the forecast period. In Asia, China and India will continue to be the fastest growing markets in cardiac pacemaker market. This is due to the presence of high unmet medical needs and constantly improving healthcare infrastructure to cure chronic disorders in these nations.
Latin America regional market is expected to grow at a noticeable market share in the global cardiac pacemaker market. As a result of increasing aging population and increasing health awareness in Brazil, the cardiac pacemaker market is expected to grow at a noticeable growth rate during the forecast period. The Middle East & Africa is expected to grow at a moderate growth rate during the forecast period.
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Some of the key players operating in cardiac pacemaker market include St. Jude Medical Inc, Biotronik GmbH & Co. KG, Zoll Medical Corporation, Medtronic. Vitatron, Boston Scientific Corporation, MEDICO S.p.A, SORIN S.p.A., and Cook Medical Inc.
This report segments the global cardiac pacemaker market as follows:
Global Cardiac Pacemaker Market: Product Segment Analysis
- Implantable Cardiac Pacemaker
- External Cardiac Pacemaker
Global Cardiac Pacemaker Market: Technology Segment Analysis
- Biventricular
- Single Chambered
- Dual Chambered
Global Cardiac pacemaker Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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