Dual-chamber pacemaker is a small, battery-operated medical device. It is placed inside the chest of a patient suffering from arrhythmia (abnormal heart rhythm). A dual-chamber pacemaker has two leads, one of which is placed in the right ventricle and the other is placed in the right atrium. After slow natural heart rate is detected, the sequential physiological contraction of ventricles and atria is imitated by synchronous action of the two leads. The pacemaker assists the heart to beat at a normal rate by using electric pulses. Arrhythmia increases chances of cardiac stroke, cardiac arrest, and heart attack. According to the Centers for Disease Control and Prevention (CDC), in the U.S., every 40 seconds, an individual suffers a heart attack and every year, 790,000 individuals suffer a heart attack. Among these, 580,000 Americans suffer a heart attack for the first time and 210,000 Americans suffer a heart attack, which is not their first experience. Heart disease is one of the leading causes of death in women as well as men. In 2015, more than 50% of men died due to a heart attack.
Increasing geriatric population leads to the rise in demand for dual-chamber pacemakers. Heart failure is one of the major factors driving the global dual-chamber pacemakers market. It is caused by various reasons including diabetes, high blood pressure, and coronary heart disease. According to the CDC, in 2009, in the U.S., one out of 9 deaths was caused by heart failure and approximately 5.7 million adults suffered from heart failure. The U.S. suffers high cost due to heart failures, which is approximately US$ 30.7 Bn every year. This cost includes the cost of missed days of work of patients, medications to treat heart failure, and cost of health care services. Approximately 50% of patients diagnosed with heart failure die within five years. Technological advancements in the research and development of dual-chamber pacemakers are driving the global dual-chamber pacemakers market. Stringent regulatory reforms restrain the market, as major manufacturers of dual-chamber pacemakers may face difficulty in introducing an innovative product into the market.
The global dual-chamber pacemakers market can be segmented in terms of product type, end-user, and region. In terms of product type, the market can be categorized into conventional type and advanced type dual-chamber pacemakers. Based on end-user, the market can be segmented into hospitals and specialized clinics.
Geographically, the global dual-chamber pacemakers market can be classified into Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. North America is anticipated to hold a major market share during the forecast period, due to technological advancements, high disposable income, and increasing geriatric population in the region. Obesity; lack of exercise; consuming foods high in sodium, cholesterol, and fats; and smoking tobacco have led to growth of the global dual-chamber pacemakers market. The market in Asia Pacific is expected to expand significantly during the forecast period, led by increasing government initiatives and awareness about dual-chamber pacemakers in the region.
Key players operating in the global dual-chamber pacemakers market include BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Medtronic, St. Jude Medical, LLC, LivaNova PLC, and lepumedical.com.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.