Rising incidences of cardiac disorders, especially cardiac arrhythmia globally is expected to give a boost to the pacemaker market. Pacemaker is a safe option for people suffering from arrhythmia as it not only helps to maintain the irregular rhythm of the heart but also let the patient to resume an active lifestyle. Globally, there is a growing demand for minimally invasive surgeries and rapid technological advancements taking place in the pacemaker market such as the development of nanostim leadless pacemaker is expected to propel the growth of this market. This device can be implanted through catheter inside the heart and is less than ten percent the size of a conventional pacemaker. Furthermore, rising geriatric population base globally is expected to fuel the growth of the overall pacemaker market, as the geriatric population is prone towards cardiac disorders.
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Implantable pacemakers held the largest market share in terms of revenue in 2013, owing to the comfort they provide to the user as compared to the other pacemakers in the market. Regionally North America held the largest revenue share in the pacemaker market as the consequence of large population base suffering from cardiac disorders. Asia Pacific market is expected to grow during the forecast period owing to the presences of large patient base with high unmet medical needs.
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The key companies operating in the pacemaker market are Biotronik GmbH & Co, Zoll Medical Corporation, Sorin Group, Boston Scientific Corporation, and Medtronic Inc. The companies involved in manufacturing pacemakers are developing novel technologies to meet the demand of the customers.
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