Published Date : Jan 07, 2016
Cardiac Pacemakers, battery-operated medical equipment, are used to control arrhythmia when placed inside the abdomen or the chest. Increasing geriatric population and increasing incidence of cardiovascular diseases has led to the growing use of cardiac pacemakers. Dual-chamber, bi-ventricular, and single-chamber are some of the technologies of cardiac pacemakers while, external and implantable are two of the main product types of cardiac pacemakers. Increasing geriatric population has made the leading players introduce various types of cardiac pacemakers across various locations.
The global cardiac pacemaker market is predicted to grow rapidly in the coming few years due to factors such as changes in lifestyle resulting in bad physical status and unhealthy diet. Growing incidence of various types of cardiovascular diseases has further propelled the global market for cardiac pacemakers. As per the recent study conducted by the American College of Cardiology Foundation, the yearly number of sick sinus syndrome patients was around 78,000 in 2012 and the number is predicted to reach around 172,000 by 2060. The growing trend of atrioventricular blockage is commonly witnessed in Asia Pacific and it is higher in people with coronary heart diseases.
Increasing geriatric population in the North America region is expected to make this region, a dominant contributor for the global cardiac pacemaker market in the years to come. The implementation of affordable healthcare act has influenced the global market for cardiac pacemakers in a negative way. Further, strict government regulations and rising cost of treatments are predicted to hamper the growth of the global cardiac pacemaker market in the coming few years. However, untapped market is expected to create high growth opportunities for the cardiac pacemaker market. The leading players are focusing on improving the quality and technology of cardiac pacemaker medical equipment to maintain their positions in the global market.
Emerging economies and new entrants are expected to offer continued growth opportunities in the next five years. Increasing focus on introducing implantable cardiac pacemakers is expected to propel this segment in the near future. Growth in the worldwide base of population aging over 65 years would impact the global cardiac pacemaker market. As per the U.S. Census Board, people aging 65 years or above represented 13% of the total population and the number is expected to reach 1.5 billion by 2050.