External Pacemaker Market: Introduction
- External pacemaker is also known as artificial pacemaker or transcutaneous pacemaker. It is an electrode-based medical device for the initial stabilization of hemodynamically significant bradycardias of all types. External pacing is the fastest available method to synchronize cardiac rhythm. It is used in a patient with atrioventricular nodal dysfunction caused by an acute myocardial infarction, chest or cardiac trauma, infections such as bacterial endocarditis or Lyme disease, and sepsis.
Key Drivers, Restraint, and Opportunities of Global External Pacemaker Market
- Several advancements in pacemaker technology have taken place in the last few decades. The technologies that have the most impact on patient care include tracking device data and patient health through wireless remote monitoring systems, longer battery life, and technology to help reduce pacing requirements to conserve battery power. This is projected to increase adoption of advanced technologies, which is anticipated to boost the growth of the global external pacemaker market. For instance, globally, around 3 million people are living with a pacemaker, and each year about 600,000 pacemakers are implanted to treat bradycardia patients.
- Inclination toward minimally invasive procedures leads to surge in demand for external pacemakers. For instance, in 2017, nearly 15 million minimally invasive cardiac procedures were performed globally, and the number is estimated to reach 30 million by 2030.
- Increase in geriatric population coupled with various cardiac disorders is a key factor likely to boost the growth of the global external pacemaker market. The incidence of arrhythmias in the elderly is increasing, most likely due to enhanced longevity.
- Cardiac abnormality is common with mild disease, which is mostly self-limiting. However, cardiac surveillance leads to severe cardiac involvement including atrial fibrillation and left ventricular dysfunction. Hence, rise in prevalence of cardiac-related disorders is likely augment the global market.
- However, stringent regulatory requirements leads to delay in product approval, which hampers the growth of the global external pacemaker market
- Rise in awareness about advanced technologies and focus on research & development by key players to introduce new products are likely to create significant opportunities in the global market
North America to Dominate Global External Pacemaker Market
- In terms of region, the global external pacemaker market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global external pacemaker market during the forecast period. Early adoption of technologically advanced products and hub for key players are the factors anticipated to propel the market in the region
- The external pacemaker market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to increase in geriatric population. Moreover, government initiatives to increase health care infrastructure is likely to augment the market in Asia Pacific.
Key Players Operating in Global External Pacemaker Market
The global external pacemaker market is fragmented due to the presence of international as well as local players. A large number of manufacturers hold major share in their respective regions. Demand for external pacemaker products has increased in emerging as well as developed markets owing to rise in awareness about technologically advanced products. Growth strategies adopted by leading players are likely to drive the global market.
Key players operating in the global external pacemaker market are:
- Osypka Medical GmbH
- OSCOR, Inc.
- Boston Scientific Corporation
- Teleflex Incorporated
- Other prominent players
Global External Pacemaker Market: Research Scope
Global External Pacemaker Market, by Type
- Single-chamber Pacemaker
- Dual-chamber Pacemaker
- Biventricular Pacemaker
Global External Pacemaker Market, by End-user
- Hospitals & Specialty Clinics
- Ambulatory Surgical Centers
Global External Pacemaker Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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