Feature rich and affordable options driving cardiac pacemaker market in India

March 1, 2013 - PRLog -- Knowledge consulting solutions firm Netscribes has recently launched its report on cardiac pacemaker market in India. Cardiac pacemaker is one of the most used healthcare devices to counter slow heart beat. This market is likely to witness steady growth as prices of basic cardiac pacemakers come down and become even more user friendly with various added features.

The report begins with macro economic indicators whereby the basic economic indicators have been depicted. The introduction section explains the various types of pacemakers available in the market. In the market overview section, the pacemaker market size in terms of value as well as volume has been depicted. Thereafter the price range of various types of pacemaker as well as the factors which affect the price has been listed.

Furthermore, a short comparative study between the global market and the Indian market for cardiac pacemaker has also been provided. The market research report explains some of the ways in which the players in the cardiac pacemaker market engage with customers in order to increase their market share. In the next section import and export of cardiac pacemakers for the last four years has been highlighted. Also the major countries for import and export for cardiac pacemaker is depicted.

The drivers and challenges has been highlighted in the next section. Indian cardiac pacemaker market has been largely driven by the changing demographics.  As more people reach close to sixty years they are likely to develop some heart complications, thus increasing the demand for cardiac pacemakers. Also, in India high rate of cardio vascular disease causes the market to grow even more. Moreover, compared to other Western countries, penetration of cardiac pacemaker is less in India and hence there are ample opportunities for growth for the manufacturers.  Growing awareness about the utility of pacemaker among general masses also increases the demand for pacemaker. Of late, insurance companies have started to cover patients for the cost of operation in case of cardiac pacemaker implant which boosts the demand.

However, the per capita spending on medical devices in India is low compared to Western countries. The government also lacks proper regulatory structure for medical devices and there are hardly any government initiatives. Also, high capital expenditure acts as a deterrent for newer players to contribute to the overall medical device market size.

Trends include improvement in technology which has helped the market to grow as users find it more helpful than ever before. Also, it is possible nowadays to monitor the condition of the patient via internet, because of which the patient feels safer. In certain cases, cardiac pacemakers are even reused for patients who cannot afford them.

The competition section begins with a Porter’s five forces model which is meant to analyze the dynamics of the market. The major players in the market have been profiled and a financial summary for each of the players has been given. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the ventilator market. For each of the companies a SWOT analysis has been provided.