Global cardiac pacemaker devices market is expected to grow at a CAGR of 3.3% from 2017 to 2022 to reach USD 4,629.3 million by 2022.
Increasing burden of cardiovascular diseases, rising geriatric population, rise in obesity, sedentary lifestyle, excessive consumption of alcohol & caffeinated products, and various technological advancements are the key market drivers covered in the report which will support the industry growth in the forecast period. However, increase in reported cases of cardiac pacemaker malfunctioning & related product recalls restricts the growth of the market to some extent. Further, lack of skilled professionals, especially cardiologists poses great challenge for the growth of this market.
The arena of cardiovascular medicine is swiftly evolving as advancements in technology and engineering offer clinicians' new and exhilarating ways to care for an aging population. Cardiac pacing, in particular, has witnessed a series of game-changing technologies emerging since the past several years spurred by low-power electronics, high-density batteries, improved catheter delivery systems, and innovative software designs. The cardiac pacemaker devices can control & restore the human heart's normal electrical pathways and thereby helps to avoid severe life-threatening cardiovascular arrest in the patients at high risk.
Therefore, the adoption of these devices is rising with technological innovation and rising incidence & prevalence of chronic cardiovascular diseases and related death globally. For instance, according to the American Heart Association, cardiovascular disease is the leading cause of death globally, accounting for more than 17.3 million deaths in 2013. This number is estimated to grow to more than 23.6 million by 2030.
The report also includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2014-2017). The study has also incorporated the market share analysis of leading players and detailed profiles of top 10 market players across the value chain of the industry, including detailed financial performance, product offerings, and strategic growth initiatives of each player.
Key Topics Covered:
1. Introduction 1.1. Market Ecosystem 1.2. Currency And Limitations
2. Research Methodology
3. Executive Summary
4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Rising Geriatric Population 4.2.2. Increasing Burden of Cardiovascular Diseases 4.2.3. Rise in Obesity, Sedentary Lifestyle, & Excessive Consumption of Alcohol & Caffeinated Products 4.2.4. Technological Advancements 4.2.5. Other Drivers 4.3. Restraints 4.3.1. Increase in Reported Cases of Cardiac Pacemaker Malfunction & Product Recalls 4.3.2. Other Restraints 4.4. Opportunities 4.4.1. Emerging Markets Offer Significant Growth Opportunities 4.4.2. Other Opportunities 4.5. Challenges 4.5.1. Lack of Skilled Professionals 4.5.2. Other Challenges 4.6. Regulatory Analysis 4.7. Market Share Analysis, by Key Players