April 14, 2024

Increasing Prevalence Of Cardiovascular Diseases Expected To Boost The Growth Of Cardiac Autonomic Control Market

Market Overview:

The cardiac autonomic control market deals with devices and systems used for both diagnosis and treatment of autonomic nerve disorders affecting the cardiovascular system. These products help in monitoring and controlling heart rate and rhythm through stimulation and blocking of signals between heart and brain. Devices like implantable pacemakers and defibrillators help regulate abnormal heart rhythms and neural monitoring systems are used to analyze cardio-neural signals non-invasively.

Market Key Trends:

One of the key trends in the cardiac autonomic control market is the growing demand for minimally invasive devices. Manufacturers are developing advanced pacing devices and monitoring systems that offer improved treatment outcomes while being less complicated to implant. Miniaturization of components has led to the development of leadless pacemakers that do not require implantable cardioverter defibrillator (ICD) leads running through veins. This has reduced risks of infections and enhanced comfort for patients.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Cardiac Autonomic Control Market requires considerable R&D investments and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternative treatment options for cardiac patients.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are numerous component manufacturers in the market.
Threat of new substitutes: The threat of new substitutes is high as technological advancements can lead to new treatment alternatives.
Competitive rivalry: is high due to the presence of major players competing on the basis of product differentiation and pricing.

Key Takeaways

The Global Cardiac Autonomic Control Market Demand  is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of cardiovascular diseases. North America is expected to dominate the global market owing to growing geriatric population suffering from heart ailments and availability of advanced healthcare facilities in the US and Canada. Europe is anticipated to exhibit a significant growth rate during the forecast period due to rising government funding for research activities.

The Asia Pacific region is projected to grow at the fastest pace over the coming years due to improving healthcare infrastructure, rising disposable incomes, and growing medical tourism industry in countries such as India, China, and Japan.

Key players operating in the Cardiac Autonomic Control Market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, LivaNova PLC, Nihon Kohden Corporation, Schiller AG, Johnson & Johnson, GE Healthcare. Medtronic plc and Abbott Laboratories collectively hold over 50% of the market share owing to their robust product portfolios and strong geographic presence across the world.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it