Global Pacemaker Market Research Report: Information by Implantability (Implantable Pacemakers and External Pacemaker), Technology (Dual-Chamber Pacemakers, Single-Chamber Pacemakers and Biventricular/CRT Pacemakers), Type (MRI Compatible Pacemakers and Conventional Pacemakers), End User (Hospitals & Cardiac Centers and Ambulatory Surgical Centers) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2025
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Global Pacemaker Market - Competitive Analysis
July, 2016- BIOTRONIK had received CE approval for its Edora pacemakers and cardiac resynchronization therapy pacemakers. Biotronik is one of the global leader in cardio- and endovascular medical technology, and is headquartered in Berlin, Germany, and represented in over 100 countries. Many patients have used company implants with improved quality, or have been treated with company’s coronary and peripheral vascular intervention products. However, the company was first to develop pacemaker in 1963, moreover the company has engineered many innovations, which includes Magmaris, the first clinically proven bioresorbable magnesium scaffold, Home Monitoring, Pulsar 18- the world's first 4 F compatible stent for treating long lesions, Orsiro, first hybrid drug-eluting stent; and the world's first implantable cardioverter defibrillators and heart failure therapy devices with ProMRI technology
Global Pacemaker Market - Overview
A pacemaker is a small device that is used to regulate your heart rhythm. The global pacemaker market share has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Cardiac pacemaker are the artificial heart rhythm management devices which regularize the heartbeats by sending the electrical impulses to the heart. External pacemakers are the temporary pacing devices which are used during the cardiac surgical procedures to maintain the heartbeat rhythms. External pacemakers require a fully furbished clinical facility. On the other hand, implantable pacemakers are placed inside the skin on the left side of the chest of the patient. The normal life of an implantable pacemaker device is said to be 10 years. The average cost of the device is around $10000 in US. But due to the favourable reimbursement policies of the government, it becomes affordable for the people to undergo the implantation procedure leading to the growth of the market.
Global Pacemaker Market - Regional Analysis
Depending on geographic region, pacemaker market is segmented into four key regions: America commands the largest global pacemakers market due to increasing awareness among the people towards the use of innovative technologies is the key factor for the growth of the market. North America is the major contributor of America pacemakers market owing to increasing financial capability of hospitals, increasing prevalence of chronic diseases, strategic collaboration with assurance companies in this region also contributed in the growth of the market. Europe is the second-largest market globally for cardiac pacemaker which is expected to continue its growth in the near future. Asia pacific region is expected to be fastest growing region in cardiac pacemaker market. However, The Middle East and Africa has the lowest market for pacemakers because of limited development in medical field.
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