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).
Since the evolution of implantable cardiac pacemakers, cardiac pacing devices are extensively used to treat bradycardia (delayed or absent activation of the entire ventricle) and Cardiac Resynchronization Therapy (CRT). Implantable cardiac pacemakers are the small devices, which are placed inside the chest or abdomen in order to control abnormal heart rhythms. Pacemakers are also majorly used to treat arrhythmias: a problem with the rate of rhythm of heartbeat, in which heart beats too fast and sometimes beats too slowly causing irregular rhythm.
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Several market players in emerging economies such as Asia and Middle East are offering products with comparable performance levels to that of high-end implantable cardiac pacemakers at affordable costs. This is mainly attributed to factors such as increasing availability of skilled physicians and healthcare practitioners, lower costs incurred with medical facilities, and combined efforts of government and domestic players to increase patient access. Moreover, increasing prevalence of cardiovascular disease such as arrhythmia, atrial fibrillation, long QT syndrome, bradycardia, and tachycardia coupled with adoption of sedentary and unhealthy lifestyle are further expected to augment growth of implantable cardiac pacemaker market over the forecast period
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.
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