A pacemaker is a small medical device mostly placed in the chest area just under the collarbone. This device helps to regulate or start a slow heartbeat by sending electrical signals. A pacemaker can be used when the SA node (natural pacemaker) is unable to work properly resulting in slow or decrease in heart rate or rhythm. An implantable cardioverter defibrillator (ICD) is a similar looking medical device to a pacemaker. It is slightly larger than pacemaker. However, the implantable cardioverter defibrillator can send or provide a low-energy shock that helps to normalize the abnormal heartbeat. ICD can send a high-energy shock in case of severe cardiac disorders such as arrhythmia. Pacemakers and implantable cardioverter defibrillators play an important role in the management of patients having cardiac conditions such as heart failure, heart attack (myocardial infarction), arrhythmia, and long QT syndrome. These devices do not treat the disease, but help in maintaining normal heart rate, thereby preventing sudden cardiac deaths.
The global pacemakers and implantable cardioverter defibrillators (ICDs) market is expected to grow at a rapid pace due to rise in incidence of cardiovascular diseases, increase in population, and surge in the global geriatric population. The Pacemakers and Implantable Cardioverter Defibrillators (ICDs) Market is expected to witness strong growth in countries such as India, China, Brazil, and other emerging countries.
The global pacemakers and implantable cardioverter defibrillators (ICDs) market can be segmented based on product type, application, end-user, and region. In terms of product type, the Pacemakers and Implantable Cardioverter Defibrillators (ICDs) Market can be categorized into pacemakers (single chamber implantable pacemakers, dual chamber implantable pacemakers, and biventricular pacemakers) and implantable cardioverter defibrillators (single chamber ICDs, dual chamber ICDs, and biventricular ICDs). Based on application, the global pacemakers and implantable cardioverter defibrillators (ICDs) market can be classified into arrhythmia, atrial fibrillation, heart block, and others. Based on end-user, the Pacemakers and Implantable Cardioverter Defibrillators (ICDs) Market can be divided into hospitals, specialty clinics & cardiac centers, ambulatory centers, and others.
Geographically, the global pacemakers and implantable cardioverter defibrillators (ICDs) market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region is sub-divided into specific countries/sub-region such as the U.S., Canada, Germany, U.K., Brazil, China, India, Japan, and GCC Countries. North America dominated the global pacemakers and implantable cardioverter defibrillators (ICDs) market because of large investments in R&D and advanced products development. According to the Centers for Disease Control and Prevention, 2.7 million people are living with atrial fibrillation in the U.S. and the number increases with respect to the geriatric population. In the U.S., approximately 2% people aged less than 65 and 9% people aged over 65 suffer from atrial fibrillation. Asia Pacific is considered to be the most attractive Pacemakers and Implantable Cardioverter Defibrillators (ICDs) Market during the forecast period due to rise in health care expenditure and rapidly increasing prevalence of various cardiac diseases.
Key players operating in the global pacemakers and implantable cardioverter defibrillators (ICDs) market are Medtronic, Boston Scientific, ZOLL Medical Corp., Asahi Kasei Corp., Nihon Kohden Corp., Shree Pacetronix Ltd., St. Jude Medical, Inc., BIOTRONIK SE & Co. KG, EBR Systems, Inc., MEDICO S.p.A., Osypka Medical GmbH, and Physio-Control Corp., among others. These players have adopted various strategies such as collaborations, partnerships, agreements, and new product launches to gain competitive advantage in the market.
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