Cardiac stimulators or pacemakers are devices that deliver electrical impulses through electrodes to increase heart rate to normal levels. These devices normalize the heart rate in patients suffering from arrhythmias, especially bradycardia.
Cardiac stimulators are used in the treatment of abnormal heart rhythms caused by problems in the electrical conduction of the heart. Cardiac stimulators are primarily utilized during electrophysiological procedures in various settings including hospitals, surgical centers, operating rooms, and clinics.
Key Drivers of Global Cardiac Stimulators Market
Increase in the geriatric population and rise in prevalence of cardiac rhythm disorders such as atrial fibrillation or arrhythmia and bradycardia are the key factors projected to boost the global cardiac stimulators market in the next few years.
According to the Centers for Disease Control and Prevention (CDC), an estimated 2.7 million to 6.1 million people in the U.S. are suffering from atrial fibrillation and the number is expected to reach 12.1 million by 2030. This is anticipated to increase the number of electrophysiological procedures and generate higher demand for cardiac stimulators in the near future.
According to Diagnostic and Interventional Cardiology, about 3 million people are living with pacemaker and approximately 600,000 pacemakers are implanted every year to treat bradycardia patients across the globe.
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Moreover, the baby boomer population susceptible to a range of heart rhythm disorders such as arrhythmia, bradycardia, and tachycardia has increased in the past few years. This, in turn, is expected to drive demand for cardiac stimulators market during the forecast period.
North America to Dominate Global Cardiac Stimulators Market
Rise in prevalence of cardiac rhythm disorders such as atrial fibrillation among the geriatric patients, increase in the number of cardiac procedures performed in the U.S., and favorable reimbursement scenario for cardiac surgeries are likely to propel demand for cardiac stimulators in the region.
According to the American Heart Association (AHA), more than 4 million individuals in the U.S. suffer from recurrent arrhythmias every year. This is projected to boost the growth of the market in North America.
The cardiac stimulators market in the U.K. is anticipated to grow at a rapid pace owing to rise in prevalence of cardiac arrhythmia and increase in the geriatric population. For instance, more than 1 million people are affected by cardiac arrhythmias in the country.
Large baby boomer population and rapid adoption of western lifestyle, which increases the risk of cardiac diseases in developing countries such as India and China are the key factors augmenting the cardiac stimulators market in Asia Pacific.
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Key Players Operating in Global Cardiac Stimulators Market
Major players operating in the global cardiac stimulators market are Boston Scientific Corporation, Osypka AG, GE Healthcare, Biotronik, Braille Biomedica, Lepu Medical Technology, Vitatron, Oscor, Sorin, Cameron Health.