The Global Pacemakers Market is Projected to Reach $4.9 Billion by 2023 - Opportunities in Emerging Markets
DUBLIN, Dec. 7, 2018 /PRNewswire/ --
The "Pacemakers Market by Implantability, Technology, Type, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The pacemakers market is projected to reach USD 4.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 2%.
The pacemakers market is driven by various factors such by increasing prevalence of cardiovascular diseases and technological advancements in devices. However, the high cost of pacemakers and an unfavorable reimbursement scenario are expected to limit market growth to a certain extent.
The dual-chamber pacemakers segment is expected to grow at a higher CAGR during the forecast period.
The dual-chamber pacemakers are the faster-growing segment in the pacemakers market, by technology. The pacemakers market, by technology, has been categorized into single-chamber pacemakers, dual-chamber, and bi ventricular/CRT pacemakers. Dual-chamber pacemakers are the most popular of all pacemaker technologies in the market, due to the higher efficiency and cost-effectiveness of dual-chamber pacemakers in atrioventricular block or sick sinus syndrome.
The hospitals & cardiac centers, by end user, is projected to hold the largest market share during the forecast period.
This segment includes both government and private hospitals and cardiac centers that provide treatment to patients with cardiac diseases. A number of factors, such as the increasing prevalence of cardiovascular diseases and the subsequent increase in the number of surgical procedures performed, improving healthcare infrastructure, and favorable reimbursement scenario are driving the growth of the pacemakers market for hospitals & cardiac centers.
Asia Pacific is expected to record the highest growth rate during the forecast period.
The Asia Pacific pacemakers market, particularly in China, Japan, India, is expected to witness high growth in the next five years. This can largely be attributed to the increasing prevalence of CVDs in these countries due to various factors such as increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking.
Competitive Landscape
The pacemakers market comprises major providers such Medtronic (Ireland), Abbott (US), and Boston Scientific (US), BIOTRONIK (Germany), LivaNova (UK), OSCOR (US), Pacetronix (India), MEDICO (Italy), Osypka Medical (Germany), and Lepu Medical (China). The study includes an in-depth competitive analysis of these key players in the pacemakers market, along with their company profiles, recent developments, and key market strategies.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Covered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Primary Data
2.1.1.1 Key Data From Primary Sources
2.1.2 Secondary Data
2.1.2.1 Key Data From Secondary Sources
2.2 Market Estimation Methodology
2.2.1 Primary Research Validation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Pacemaker Market: Overview
4.2 Pacemakers Market: Geographical Snapshot
4.3 Pacemaker Market, By Technology (2018-2023)
4.4 Asia Pacific: Pacemakers Market, By Technology (2017)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Burden of CVD
5.2.1.2 Technological Advancements
5.2.2 Restraints
5.2.2.1 High Cost of Pacemakers, Unfavorable Reimbursement Scenario
5.2.3 Opportunities
5.2.3.1 Emerging Markets
5.2.3.2 Implantable Micropacemakers Designed for Fetal Use
5.2.4 Challenges
5.2.4.1 Shortage of Cardiac Surgeons
5.2.4.2 Frequent Product Recalls
6 Pacemaker Market, By Implantability
6.1 Introduction
6.1.1 Implantable Pacemakers
6.1.1.1 Introduction of Leadless, Miniaturized Implantable Pacemakers to Boost Segment Popularity
6.1.2 External Pacemaker
6.1.2.1 North America to Lead the External Pacemakers Market During the Forecast Period
7 Pacemaker Market, By Technology
7.1 Introduction
7.1.1 Dual-Chamber Pacemakers
7.1.1.1 Dual-Chamber Pacemakers are the Most Popular of All Pacemaker Technologies in the Market
7.1.2 Single-Chamber Pacemakers
7.1.2.1 The Advent of Leadless Pacemakers Will Stimulate Demand in This Product Segment
7.1.3 Biventricular/CRT Pacemakers
7.1.3.1 North America is the Largest Market for Biventricular/CRT Pacemakers
8 Pacemaker Market, By Type
8.1 Introduction
8.1.1 MRI Compatible Pacemakers
8.1.1.1 Technological Advancement is Driving the Growth of MRI Compatible Pacemakers
8.1.2 Conventional Pacemakers
8.1.2.1 Increasing Aging Population is A Major Factor Driving the Growth of the Conventional Pacemaker Market
9 Pacemaker Market, By End User
9.1 Introduction
9.2 Hospitals & Cardiac Centers
9.2.1 Rising Prevalence of Cardiovascular Diseases
9.3 Ambulatory Surgical Centers
9.3.1 Increasing Number of Ascs in the Us
10 Pacemaker Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Rising Prevalence of CVDs and Technological Advancements in Pacemakers are the Major Factors Driving Market Growth
10.2.2 Canada
10.2.2.1 Rising Prevalence of CVDs and Growing Geriatric Population are Driving the Growth of the Canadian Pacemakers Market
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany is Expected to Account for the Largest Share of European Pacemakers Market in 2018
10.3.2 France
10.3.2.1 Favorable Insurance System is Driving the Growth of the French Pacemakers Market
10.3.3 UK
10.3.3.1 Technological Advancements in Pacemaker Devices to Drive the Demand for Pacemakers in the Country
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.1.1 MRI Compatible Pacemakers Have Huge Growth Potential in Japan
10.4.2 China
10.4.2.1 Increasing Prevalence of CVDs is Driving the Growth of the Pacemakers Market in China
10.4.3 India
10.4.3.1 Increasing Pacemaker Implantation Procedures in India to Propel Market Growth
10.4.4 Rest of Asia Pacific (RoAPAC)
10.5 Rest of the World
11 Competitive Landscape
11.1 Introduction
11.2 Pacemakers Market Share Analysis
11.3 Competitive Situation and Trends
11.3.1 Product Launches
11.3.2 Collaborations
11.3.3 Expansions
11.3.4 Mergers & Acquisitions
12 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments)*
12.1 Medtronic
12.2 Abbott Laboratories
12.3 Boston Scientific
12.4 Biotronik
12.5 Livanova
12.6 Lepu Medical
12.7 Shree Pacetronix
12.8 Osypka Medical
12.9 Medico SpA
12.10 Oscor
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