High incidence of cardiovascular diseases is the major driver for pacemakers market. The high prevalence rates of disorders like bradycardia, sick sinus syndrome (SSS), Atrioventricular blocks (AV Block), sudden cardiac attack and atrial fibrillation will boost the growth of the pacemakers market. Each year 600,000 patients seek treatment for bradycardia alone. Bradycardia is mainly caused by SSS and AV block. In the US, three out of 10,000 people are affected by SSS. The prevalence of first degree AV block is 1.13 cases per 1000 patients. Also the incidence of SSS and AV block increases with advancing age, with 5% of men over 65 in the US being affected by AV block. Sudden cardiac death accounts for 300,000 deaths in the US each year. Atrial fibrillation affects 10 m people worldwide. This large and increasing patient population is the major driver for pacemakers market.
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The introduction of remote monitoring is driving the market for pacemakers as it reduces frequent patient visits for follow-ups and sends data to the clinic directly which a physician can review. Remote monitoring is expected to increase patient acceptance of pacemakers.
Digital pacemakers, wireless pacemakers, pacemakers with managed ventricular pacing and resynchronization therapy pacemakers are now equipped with wireless transmission capabilities which will allow patients and doctors to continuously monitor a patient’s progress post operatively. This remote sensing feature for pacemakers is expected to cater to a large percent of the aging population in the US, Europe and Japan.
Medtronic is a dominant player in the pacemakers market accounting for more than 50% of the total pacemakers implanted around the world. The other key players in the pacemakers market are St. Jude Medical and Boston Scientific.
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Medtronic reported sales of $2.0 billion in 2008 in the pacing systems category. The success of Medtronic in the pacemakers market is also attributed to the CareLink Remote Monitoring Service that it provides. The CareLink service provides remote monitoring for implanted pacemakers. Medtronic has around 300,000 individuals utilizing this service. Medtronic is expected to retain its leading position in the pacemakers market owing to strong brand value, worldwide distribution channel, strong focus on R&D and a strong pipeline.
GlobalData, the industry analysis specialists, have published their latest research, “Pacemakers Pipeline Technology and Market Forecasts to 2015” that is an essential source of information and analysis on the global pacemakers market. The report identifies the key trends shaping and driving the dynamism in the global pacemakers market. The report also provides insights in to the prevalent competitive landscape and the emerging players expected to bring significant shift in the market positioning of the existing market leaders. Most importantly, the report provides valuable insight on the pipeline products within the global pacemakers sector.
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