July 17, 2024

Pacemakers Is Fastest Growing Segment Fueling The Growth Of Cardiac Implantable Electronic Device Market

Cardiac Implantable Electronic Devices are devices implanted in heart to detect and treat cardiac arrhythmias. They also monitor heart beats and provide electrical pulses to regulate abnormal heart rhythms. These devices include pacemakers, implantable cardioverter defibrillators and cardiac resynchronization therapy devices. They have helped save millions of lives by detecting and correcting life-threatening heart rhythm problems.

Market Key Trends:

One of the key trend in the market is growing preference for device miniaturization and wireless Cardiac Implantable Electronic Device Market. Advancements in miniaturization and wireless technology have enabled device manufacturers to design smaller, longer lasting devices that can be easily implanted and wirelessly programmed. For example, Medtronic’s Micra transcatheter pacing system is the world’s smallest pacemaker that is less than 1/10th the size of traditional pacemakers. Similarly, Abbott’s Confirm Rx insertable cardiac monitor employs wireless communication for remote monitoring, eliminating the need for device interrogation. Miniaturized and wireless devices offer increased patient comfort and mobility.

Segment Analysis

The global cardiac implantable electronic device market is categorized by product into pacemakers, implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy devices (CRT). Among these, the pacemakers segment held largest market share in 2022 as it is widely used for treating heart blockage problems. Pacemakers help regulate heartbeat and are smaller in size compared to other devices, making them highly preferred by doctors as well as patients.

Key Takeaways

The global cardiac implantable electronic device market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing prevalence of cardiovascular diseases and growing geriatric population.

Regional analysis

North America dominated the global market in 2022 and is expected to continue its dominance owing to rising incidence of cardiac conditions, developed healthcare infrastructure and availability of reimbursement. Asia Pacific is anticipated to exhibit fastest growth rate over the forecast period due to large patient pool and increasing healthcare spending in countries like India and China.

Key players

Key players operating in the cardiac implantable electronic device market are Medtronic, Biotronik, Boston Scientific Corporation, Pacetronix.com, Integer Holdings Corporation, Cook Group, Braile Biomédica, Abbott, LivaNova PLC, OSYPKA Medical, Galix Biomedical Instrumentation Inc., OSCOR Inc., LifeTech Scientific Corporation, MicroPort Scientific Corporation, and Ceryx Medical. Medtronic has largest global presence and wide range of product portfolio in all device categories including pacemakers, ICDs and CRT devices.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.  LinkedIn Profile

About Author - Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.  LinkedIn Profile

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