Global Next Generation Pacemaker & ICD Market Analysis and Forecast (2017-2023)

Wednesday, July 19, 2017 Research News
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NEW YORK, July 18, 2017 /PRNewswire/ --

Global Pacemakers and ICDs Market is anticipated to reach $20.31 Billion by 2023

Description Pacemakers and Implantable Cardioverter Defibrillators (ICDs) play a substantial role in the management of patients suffering from cardiac conditions such as, heart attack (myocardial infarction), heart failure, arrhythmia
and Long QT syndrome. These devices do not, however, treat the disease per se, but helps in maintaining the normal heart rate, thus, preventing sudden cardiac deaths (SCD) in patients. Despite large scale competition among key players and market consolidation in the pacemaker and ICD market, the market is expected to see a moderate growth in the upcoming years due to driving factors such as rising incidences of cardiovascular diseases, growing population and an upsurge in the global geriatric population. Market growth is particularly expected in the future in countries such as India, China, Brazil and many other emerging countries. This study comprises of an extensive analysis of the pacemakers and ICD market, in terms of product type, application type and geographical regions which enables the user gain a multidimensional view of the entire market. It also employs an exhaustive and analytical approach to estimate and understand the market, and thus, provides an all-inclusive insight into various forms of developments, market trends and strategies. While underlining the key driving and restraining factors for the pacemakers and ICD market, the report also provides a comprehensive understanding in terms of competitive landscape, market share analysis, competitor benchmarking (matrices), and their positioning in terms of global pacemakers and ICD market. The answers to the following key questions can be found in the report: • What are the factors affecting the growth rate of global pacemaker and ICD market (e.g.- drivers, restraints, challenges and opportunities)? • How did the global pacemaker and ICD market evolved? • What is the market share of leading segments and sub-segments of the global pacemakers and ICD market in 2016 and 2023? • How will each segment of the global pacemakers and ICD market grow over the forecast period and how much revenue will these account for in 2023? • Who are the market leaders in the global pacemaker and ICD market in 2017 & 2016? • What are the key development strategies employed by the key players across various geographies? • What are the key strategies employed by the key players in order to stand out in the highly competitive pacemakers and ICD market? • Which geographical region will lead the global Pacemakers and ICD Market? • What is the role of various regulatory bodies and government agencies in regulating the pacemaker and ICD industry? The research study aims to address various aspects of the global pacemakers and ICD market with the help of key factors driving the market, threats that can possibly slow down the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market. The study takes into account the growth-share matrix model for an in-depth analysis of the global pacemakers and ICD market and makes an assessment of the factors governing the same. The report also includes the profiles of major players in the market that allows the readers to get a valuable insight into the various industry trends. Some of the leading companies profiled in the report are Medtronic, Boston Scientific, BIOTRONIK, Inc., St. Jude Medical, ZOLL Medical Corporation, MEDICO S.p.A and Vitatron. Executive Summary Pacemakers and ICDs play a significant role in the management of cardiac conditions such as Atrial Fibrillation, Arrhythmias, Bradycardia, and Sick-Sinus Syndrome etc. However, MRI compatibility has been a serious issue with the use of these devices as they restrict a cardiac patient from going through MRI scans. MRI scans are essentially used for tissue imaging which provides information not seen with X-ray, ultrasound, or CT scan. Until the approval of MR-conditional pacemakers, patients with implanted devices were typically denied access to MRI procedures because of the potential for harmful interaction between the device and the MRI scanner. According to an estimate, 50-75 % of patients will require an MRI scan over the lifetime of their pacemakers. The implantation of life saving pacemakers and ICD devices often come with many complications such as bleeding at the generator site, allergic reactions, infection where the pacemaker was implanted etc. However, the development of leadless pacemakers and the advent of MRI compatible pacemakers have revolutionized the industry, leading to a growth in the possibility of less complication rates than conventional pacemakers. Newer non-invasive cardiac devices with extended battery life is expected to further propel the market. Furthermore, various other technologies are also evolving such as tele-monitoring, cardiac contractility modulation (CCM) and wireless pacing which are expected to increase the growth of this market in the upcoming years. Furthermore, rising number of cardiovascular diseases, increasing older population as well as favorable government policies are some of the key driving forces of the market. However, lack of skilled medical professionals (in terms of performing pacemaker procedures), huge pricing pressure, and declining capital expenditure of hospitals are likely to restraint the growth of this market. The global pacemakers and ICDs market are expected to grow at a CAGR of 4.6% and 4.8% from 2017 to 2023. The factors includes revenue growth by dual chamber ICDs and Leadless Pacemakers as well as MRI Compatible ICD devices. The pacemakers market by volume is expected to reach 1,433,358 units by 2023 and by value, it is anticipated to reach $10.19 billion. However, the ICDs market by volume is anticipated to grow over 392,267 units by 2023. The report is mainly focused on market volume and value for both pacemakers and ICDs in 45 countries across the globe. Typically, Pacemakers pacemakers can be divided into single chamber, double chamber and biventricular pacemakers. On the other hand, ICDs can be classified as Single, Dual and Leadless & Others ICDs. The global market for single chamber pacemakers by volume was 496,959 in 2016 and is expected to grow at a CAGR of 1.3% during the forecast period from 2017 to 2023. However, the global market for dual chamber pacemakers by volume was XX in 2016. The market volume is expected to be 776, 625 units in 2023. The global ICDs Implants market is estimated to be $XX million in 2023 growing at the CAGR of 4.8% for the period from 2017 to 2023. On the basis of end users, the market can be divided into hospitals, specialty clinics & cardiac centres, and ambulatory care centres. In geographical analysis both value and volume of approximately 45 countries have been considered. Asia is going to witness the highest growth in upcoming years due to huge patient base and government initiatives. North American pacemaker market is expected to grow over 3,63,416 units by the end of 2023 growing at a CAGR of XX% from 2017 to 2023. While, ICD market generated sales of 1,68,787 units in 2016. The market trend is slowly experiencing a paradigm shift from single chamber pacemakers to high end ICDs. The reason could be the benefits of ICDs over conventional pacemakers as the former is capable of both treating as well as preventing an abnormal heart beat. The key players in the global pacemakers and ICD market are Medtronic, BIOTRONIK, Inc., Boston Scientific Corporation, St. Jude Medical, ZOLL Medical Corporation, MEDICO S.p.A., and Pacetronix, among others. Read the full report: Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.http://www.reportlinker.com__________________________Contact Clare: clare@reportlinker.comUS: (339)-368-6001Intl: +1 339-368-6001

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