Artificial Cardiac Pacemaker Market Analysis, Development, and Forecast by 2031

MARKET OVERVIEW

A cardiac pacemaker is a medical device that generates electrical impulses delivered by electrodes to cause the heart muscle chambers to contract and pump blood. This device replaces and/or regulates the function of the heart's electrical conduction system. It is also known as an artificial pacemaker to distinguish it from its natural counterpart. The primary function of a pacemaker is to keep the heart rate stable. Modern devices are demand pacemakers, which stimulate the heart based on the circulatory system's dynamic demand. They are externally programmable, allowing a cardiologist to choose the best pacing modes for individual patients.

MARKET SCOPE

The artificial cardiac pacemaker market is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the artificial cardiac pacemaker market with detailed market segmentation by product, type, end-user, and geography. The report provides key statistics on the market status of the leading artificial cardiac pacemaker market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  On the basis of Product, the Artificial Cardiac Pacemaker Market is segmented into Single Chamber Cardiac Pacemaker, Dual Chamber Cardiac Pacemakers, and Cardiac Re-synchronization Therapy Pacemaker (CRT-P).
  
•  By End-user, the market is segmented into Hospitals, Ambulatory Surgery Centers, and Others.
  
•  On the basis of implantability, the market is segmented into Implantable Pacemaker and External Pacemaker.
  
•  On the basis of type, the Artificial Cardiac Pacemaker Market is segmented into MRI Compatible Pacemaker and Conventional Pacemaker.
  

MARKET DYNAMICS

Drivers:

•  Increasing incidence of Cardiovascular Diseases (CVDs).
  
•  Technological advancement in pacemakers.
  
•  Availability of reimbursement for pacemaker implantation procedures.
  

Restraints:

•  Lead displacement is one of the common occurrences with pacemakers.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South And Central America. The Artificial Cardiac Pacemaker Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South And Central America after evaluating political, economic, social and technological factors affecting the Artificial Cardiac Pacemaker Market in these regions.

IMPACT OF COVID-19 ON ARTIFICIAL CARDIAC PACEMAKER MARKET

COVID-19 first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic has affected the growth of this market worldwide due to the business shutdown, worldwide lockdown, and supply and trade disruptions. While the situation is rapidly evolving, the pandemic had already disrupted the world in three ways the direct health impact the impact on the healthcare system, and the social and economic consequences of the pandemic. It led to a significant decrease in elective cardiovascular (CV) procedures, especially in patients with associated chronic diseases such as diabetes mellitus. The emergence of the pandemic urged the Centers for Medicare and Medicaid Services (CMS) in March 2021 to postpone all elective surgeries, non-essential medical procedures, and dental procedures. This included all types of invasive and non-invasive cardiovascular exams and procedures, affecting all facets of cardiology departments, from ECG and echo labs to interventional and EP labs and cardiovascular surgeries.

MARKET PLAYERS

The report covers key developments in the artificial cardiac pacemaker market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players in the artificial cardiac pacemaker market are anticipated to have lucrative growth opportunities in the future with the rising demand for artificial cardiac pacemaker market in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Artificial Cardiac Pacemaker Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, and the key development in the past five years.

•  Medtronic
  
•  Boston Scientific
  
•  Biotronik
  
•  LivaNova
  
•  Medico
  
•  IMZ
  
•  Pacetronix
  
•  Lepu
  
•  Abbott
  
•  Vitatron
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Artificial Cardiac Pacemaker Report Scope