Cardiac Stimulators Market: Overview
- Cardiac stimulators or pacemakers are devices that deliver electrical impulses through electrodes to increase heart rate to normal levels. These devices normalize the heart rate in patients suffering from arrhythmias, especially bradycardia.
- Cardiac stimulators are used in the treatment of abnormal heart rhythms caused by problems in the electrical conduction of the heart. Cardiac stimulators are primarily utilized during electrophysiological procedures in various settings including hospitals, surgical centers, operating rooms, and clinics.
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Key Drivers of Global Cardiac Stimulators Market
- Increase in the geriatric population and rise in prevalence of cardiac rhythm disorders such as atrial fibrillation or arrhythmia and bradycardia are the key factors projected to boost the global cardiac stimulators market in the next few years
- According to the Centers for Disease Control and Prevention (CDC), an estimated 2.7 million to 6.1 million people in the U.S. are suffering from atrial fibrillation and the number is expected to reach 12.1 million by 2030. This is anticipated to increase the number of electrophysiological procedures and generate higher demand for cardiac stimulators in the near future.
- According to Diagnostic and Interventional Cardiology, about 3 million people are living with pacemaker and approximately 600,000 pacemakers are implanted every year to treat bradycardia patients across the globe
- Moreover, the baby boomer population susceptible to a range of heart rhythm disorders such as arrhythmia, bradycardia, and tachycardia has increased in the past few years. This, in turn, is expected to drive demand for cardiac stimulators market during the forecast period.
North America to Dominate Global Cardiac Stimulators Market
- Rise in prevalence of cardiac rhythm disorders such as atrial fibrillation among the geriatric patients, increase in the number of cardiac procedures performed in the U.S., and favorable reimbursement scenario for cardiac surgeries are likely to propel demand for cardiac stimulators in the region.
- According to the American Heart Association (AHA), more than 4 million individuals in the U.S. suffer from recurrent arrhythmias every year. This is projected to boost the growth of the market in North America.
- The cardiac stimulators market in the U.K. is anticipated to grow at a rapid pace owing to rise in prevalence of cardiac arrhythmia and increase in the geriatric population. For instance, more than 1 million people are affected by cardiac arrhythmias in the country.
- Large baby boomer population and rapid adoption of western lifestyle, which increases the risk of cardiac diseases in developing countries such as India and China are the key factors augmenting the cardiac stimulators market in Asia Pacific.
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Key Players Operating in Global Cardiac Stimulators Market
Major players operating in the global cardiac stimulators market are:
- Boston Scientific Corporation
- Osypka AG
- GE Healthcare
- Braille Biomedica
- Lepu Medical Technology
- Cameron Health
Global Cardiac Stimulators Market: Research Scope
Global Cardiac Stimulators Market, by Product
- Implantable Cardiac Stimulators
- External Cardiac Stimulators
Global Cardiac Stimulators Market, by End-user
- Hospitals & Clinics
- Ambulatory Surgical Centers
Global Cardiac Stimulators Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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