According to report by Market Research Future (MRFR), the global cardiac pacemaker market is set to register a CAGR of approximately 7.9% during the forecast period (2017-2023).
On the other hand, cardiac pacemaker manufacturers are continuously integrating new and innovative technologies to improve the efficiency and output of the pacemakers. For instance, Medtronic has developed new products like leadless pacemaker and rate-responsive pacemaker with enhanced features, effectivity, and functionality.
Cardiovascular disorder is one of the main causes of death in developed and developing nations. Factors such as high blood pressure, lack of physical exercise, obesity, hereditary, diabetes and growing geriatric population are mainly responsible for causing cardiovascular diseases in individuals. This is where a cardiac pacemaker comes in, which is used to regulate the heartbeat frequency that is reduced by cardiovascular disorder.
The global cardiac pacemaker market is segmented based on type, technology, application, and end users.
By type, the market is segmented into implantable, external cardiac pacemaker, and others. Implantable cardiac pacemakers are small devices that are placed inside the chest or abdomen to control abnormal heart rhythms. This means the patient has more energy and less shortness of breath. Thus, the segment of implantable pacemaker is surging at a higher rate than other sub-segments.
The global cardiac pacemaker market is segmented into regions of the Americas, Europe, Asia Pacific and the Middle East & Africa.
Europe is the second largest market across the globe. Availability of funds for research, growing patient population, increasing healthcare expenditures, sophisticated healthcare sector and government support for research & development are exhibited to buoy the market growth during the conjectured period.