Implantable Cardiac Pacemaker Market Competitors With New Entrants
Posted by Rajkumar on March 14th, 2019
Implantable cardiac pacemaker is a small device implanted in the chest or abdomen for the treatment of abnormal heart rhythms, arrhythmia, heart block, and atrial fibrillation. Implantable cardiac pacemaker is evolved from battery-powered transistorized wearable pacemakers to current leadless pacemaker, an entire pacemaker which is placed within cardiac chambers. Cardiac pacemakers are used to treat abnormal electrical signaling in the heart, which causes arrhythmias. Implantable cardiac pacemaker use low-energy electrical signals to speed up the slow heartbeat, help to control an abnormal and fast heart rhythm, and prevents long QT syndrome, a disorder of the heart’s electrical activity, which causes sudden, uncontrollable, and dangerous arrhythmias.
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Market players are engaged in developing novel pacemakers with ability to control the abnormal heart rhythm, monitor and record patient’s heart's electrical activity, blood temperature, and breathing rate. Technological advances in the field of implantable cardiac pacemakers along with increasing prevalence of cardiovascular disease is projected to drive the growth of implantable cardiac pacemaker market over the forecast period.
The global implantable cardiac pacemaker market was valued at US$ 4.7 billion in 2017 and is expected to witness a CAGR of 7.1% over the forecast period (2018 – 2026).
Top Key Players:
Some of the key players operating in implantable cardiac pacemaker market include Medtronic plc, BIOTRONIK, Inc., Boston Scientific Corporation, St. Jude Medical, Vitatron Holding B.V., Shree Pacetronix Ltd., MEDICO S.p.A., Lepu Medical Technology Co Ltd., LivaNova PLC, and Qinming Medical.
Introduction of Advanced Pacemaker Technologies is Expected to Drive Growth of the Implantable Cardiac Pacemaker Market
Adoption of advanced technologies in cardiac pacemakers such as MRI safe-pacemakers, pacemakers with improved battery life, delay the progression of persistent Atrial Fibrillation (AF) in patients suffering from bradycardia and wireless automated technologies. This advancements are gaining significant traction of various market players of implantable cardiac pacemakers with affordable costs, which in turn are expected to drive growth of implantable cardiac pacemakers market. For instance, in February 2017, Abbott received the Food and Drug Administration (FDA) approval for its MR-conditional labeling for both of its products i.e. Assurity MRI pacemaker and the Tendril MRI pacing lead. Furthermore, introduction of advance technology such as wireless and automated pacemaker monitoring pacemakers are gaining significant traction among healthcare providers.
• Global Implantable Cardiac Pacemaker Market, By Product Type:
- Single Chamber Pacemaker
- Dual Chamber Pacemaker
- Biventricular Pacemaker
• Global Implantable Cardiac Pacemaker Market, By Application:
- Heart Block
- Atrial fibrillation
- Long QT Syndrome
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About the AuthorRajkumar
Joined: February 13th, 2019
Articles Posted: 590
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