The latest market report published by Credence Research, Inc. “Pacemakers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global pacemakers market was valued at US$ 5,046.2 Mn in 2017, and is expected to reach US$ 11,372.0 Mn by 2026 expanding at a CAGR of 9.32 % from 2018 to 2026.
Pacemakers have been used for cardiac complication for over 5 to 6 decades and have undergone upgradation with respect to technology and design. Medical device manufacturers are constantly striving to improve cardiac efficiency and cardiac resynchronization. The most important parameter used during the development of implantable pacemakers is to garner the conduction profile of His-Purkinje system for mimicking cardiac activation. Prime emphasis is given to reduce the hardware to reduce lead failure, device infection, and valve injury. Currently, pacemakers are being manufactured devoid of batteries and mechanical energy of cardiac contraction for power. In the near future, cell-based biological pacemakers are expected to be commercialized, which will be completely devoid of hardware.
Implantable pacemakers are widely used due to the growing number of patients suffering with bradycardia, tachycardia and cardiac arrhythmia. Recent technological advancement has resulted in battery- and electrode-free pacemakers, thereby increasing patient compliance. External pacemakers have being designed ergonomically to set the stimulation parameters and are relatively easy to operate and configure.
North America dominates the pacemakers market due to rising prevalence of cardiac arrhythmia. Domicile of key medical device companies pioneering in the research and development of pacemakers contribute towards the growth of North America market. Asia Pacific serves as an attractive market destination owing to huge population base suffering with cardiac complications. Key medical device companies manufacturing pacemakers have a positive influence on the pacemakers market in Asia Pacific.
The major players leading the pacemakers market are Boston Scientific Corporation, Biotronik, Inc., Cordis, Inc., Medtronic Plc, MEDICO S.p.A., OSCOR, Inc., Pacetronix, St. Jude Medical, Vitatron and ZOLL Medical Corporation.
Browse the full report Pacemakers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at http://www.credenceresearch.com/report/pacemakers-market
Key Market Movements:
- Increasing number of patients suffering with cardiac arrhythmias
- Recent technical advancements in the functioning of pacemakers such as leadless pacemakers and battery-less devices
- Affordable reimbursement scenario for cardiac pacemakers in both developed and developing countries