The cardiovascular devices industry is growing at a significant rate globally, due to increasing incidences of heart diseases and other cardiovascular disorders. Technological advancementsand growing awareness haveboosted growth of the cardiovascular devices market. Pacemakersaremedical devices that are placed in the chest or abdomen in order todetect abnormal heart rhythms.Pacemakers are used to treat arrhythmias, a condition, whereinthe heart beats very fast or very slow, or at an irregular rhythm. Pacemakers createelectric pulses to make the heart beat at a normal pace.
Pacemakers may be fixed temporarily or permanently in the body.A permanent pacemaker is encapsulated in a metal covering to protect it from electromagnetic interferences.Temporary pacing may be transcutaneous, transvenous, or epicardial in nature.Based on application, a pacemaker may be unipolar or bipolar in nature.Unipolar pacemakers involve a single contact with heart; whereas bipolar pacemakersinvolve contacting heart twice for regulating its normal rhythm . The global market for pacemakers is growing at a significant rate due to increase in the incidences of cardiovascular disorders and increasing awareness. In addition, government initiatives and technological advancements are the major factors driving the global market for pacemakers.
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North America dominates the global pacemakers market due to increasing prevalence of cardiac diseases and technological advancements in the region. In addition, high adoption ofthis technology has driven the pacemakers market in this region. Asia is expected to witness high growth rate in the next few years in the pacemakers market, followed by Europe. China and India are expected to be the fastest-growing pacemakers markets in the Asian region. Some of the key driving factors of thepacemakers market in emerging countries are a large pool of patients, rising government funding, and improvement in healthcare facilities.
Some of the major factors driving the global pacemakersmarket are aging population, increase in the incidences of heart diseases, and technological advancements. In addition, other factors such as government initiatives and enhancement in reimbursement policies are driving the global pacemakersmarket. However, factors such as high cost and lack of experienced professionals are restraining growth of the global pacemakersmarket. In addition, poor reimbursement scenario is restraining the global pacemakers market .
Growing populationand economies in the developing countries such as India and China are expected to create substantial opportunities for the global pacemakers market. In addition, innovation of new comfortable products wouldcreate substantial opportunities for the global pacemakers market. Complications involved in the use of pacemakersincluding risk of bleeding and infection are challenges for the global pacemakers market.
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Some of the recent trends in the global pacemakers market include companies involved in research and development for more innovative products with better efficiency . Some of the major companies operating in the pacemakers market are:
- Medtronic
- Sorin Group
- Biotronik GmbH & Co. KG
- Boston Scientific Corporation.
Other companies with significant presence in the global market for pacemakers are Vitatron, Jude Medical and Zoll Medical Corporation.