IMPLANTABLE CARDIAC PACEMAKER MARKET ANALYSIS

Regional Analysis

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

Furthermore, according to the data published in the Journal of the Formosan Medical Association, in November 2016, around half of the world population is living in Asia and geriatric population is growing at faster rate in Asia, which is increasing burden of AF in Asia. According to the same source, in 2050, around 72 million people are projected to suffer from AF patients in Asia, which is expected to be more than double the combined numbers of patients from Europe and the U.S. Furthermore, according to the World Health Organization (WHO), in 2015, around 17.7 million deaths were recorded due to cardiovascular diseases, out of which around 7.4 million deaths were caused due to coronary heart disease and 6.7 million deaths due to stroke. Furthermore, according to the American College of Cardiology, as of 2017, cardiovascular diseases accounts for around 800,000 deaths in the U.S and it remains the leading cause of death in the U.S.