Albany, NY -- (SBWire) -- 09/25/2018 --One of the key factors driving the global pacemaker market is the high incidence of cardiovascular disorders all over the world. Technological advancements also play a crucial role in fuelling the global pacemaker market. A pacemaker is a small device that is placed either in the chest or the abdomen in order to control the rhythm of the heart. It uses electrical pulses of low intensity to rectify abnormal heart beat in cardiovascular anomalies such as tachycardia, arrhythmia, blocked arteries, and brachycardia.
Excessive consumption of alcohol, tobacco, sedentary lifestyles, and unhealthy diet are a few of the prominent causes of cardiac disorders, especially arrhythmia. Obesity, hypertension, high blood glucose, and high levels of blood lipids are other major causes of cardiovascular anomalies. Depending on the clinical condition, a pacemaker is placed either permanently or temporarily in the body. Temporary pacemakers are placed epicardially, transvenous, or transcutaneous.
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Growing Demand for External Pacemakers to Fuel Global Market
The global pacemaker market is segmented on the basis of types, applications, and geography. On the basis of type of pacemaker, this market is segmented into external pacemakers and implantable pacemakers. The market for implantable pacemakers is further categorized into dual chamber and single chamber pacemakers. At present, the global pacemaker market is dominated by the market for implantable pacemakers. Owing to the presence of two main leads, the segment of dual chamber pacemakers holds the highest share in the market for implantable pacemakers. Patients with implantable pacemakers have to do follow ups on a regular basis.
Application-wise, the global pacemaker market is categorized into bipolar and unipolar. Pacemakers that make a single contact with the heart are known as unipolar pacemakers, whereas those that make contacts with the heart twice, are known as bipolar pacemakers. Ongoing market trends suggest that the segment of externally programmable pacemakers is anticipated to expand at the highest rate owing to it being more compliant to patients and because of its extensive use in emergencies.
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High Costs: A Glaring Restraint on the Global Pacemaker Market
Geographically, the global pacemaker market is categorized into Latin America, Europe, North America, Asia Pacific, the Middle East, and Rest of the World. Owing to technological advancements, early adoption of the latest technology, and the high incidence of heart diseases and other cardiovascular anomalies, the global pacemaker market is dominated by North America. However, it is the Asia Pacific pacemaker market that is projected to expand robustly during the forecast period. The factors fueling the Asia Pacific pacemaker market are increasing government funding and the presence of a large pool of patients in countries such as India and China.
Scarcity of experienced professionals and high costs are factors that are likely to hamper the growth of the global pacemaker market in the forthcoming years. The poor healthcare reimbursement scenario is another glaring restraint on this market. However, innovation in terms of developing newer and comfortable products will create several opportunities for further growth of the global pacemaker market.
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The prominent companies operating in the global pacemaker market are Vitatron Holding BV, Sorin Group, Zoll Medical Corporation, St. Jude Medical Inc., Boston Scientific Corporation, Biotronik GmbH & Co. KG, and Medtronic plc. Most companies in the global pacemaker market invest heavily in research and development activities.
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Pacemaker Devices Market to Be Propelled by Rising Global Prevalence of Cardiovascular Disorders