The global Cardiac Pacemaker Devices Market is majorly driven by increasing incidence & prevalence of chronic cardiovascular diseases and technological advancements in the area of implantable cardiac pacemakers. In addition, emerging markets and increasing awareness of healthcare further provides a great opportunity for various stakeholders in this market. However, increase in reported cases of cardiac pacemaker malfunctioning & related product recalls restricts the growth of the market to some extent.
Cardiac pacemakers market is further sub-segmented into the implantable pacemaker and external pacemaker. Implantable pacemakers are largely used for the prevention of sudden cardiac arrest (SCA) and related deaths in patients at high risk for SCA with increasing incidence of hypertension and atrial fibrillation. In addition, increasing trend of acceptance of modern therapies with growing awareness towards healthcare will further support the growth of this market.
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Cardiac Pacemaker Devices Market Insights
- Rising Geriatric Population
- Increasing Burden of Cardiovascular Diseases
- Rise in Obesity, Sedentary Lifestyle, & Excessive Consumption of Alcohol & Caffeinated Products
- Technological Advancements
- Other Drivers
- Increase in Reported Cases of Cardiac Pacemaker Malfunction & Product Recalls
- Other Restraints
- Emerging Markets Offer Significant Growth Opportunities
- Other Opportunities
- Lack of Skilled Professionals
- Other Challenges
- North America
- Rest of World
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Top Companies in the Cardiac Pacemaker Devices Market
The leading players in the cardiac pacemaker devices market have employed various strategies to expand their product offerings, global footprint, and augment their market share. The key strategies followed by most companies in this market were regulatory approvals, partnerships/collaborations/agreements, new product developments, and expansions. The key players in the global cardiac pacemaker devices market are Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Lepu Medical Technology Co ltd (China), Medico, S.p.A (Italy), Osypka Medical GmbH (Germany), Shree Pacetronix Ltd (India), and Cook Medical Group (U.S.).
AVP- Global Sales and Marketing