Cardiac resynchronization therapy pacemaker: Key market research findings
- The Americas to dominate the market geographically
- Awareness programs to fuel market growth
- Key vendors – BIOTRONIK, Boston Scientific, LivaNova, Medtronic, and St. Jude Medical
Technavio’s market research analysts predict the global cardiac resynchronization therapy pacemaker market to grow at a CAGR of over 8% between 2016 and 2020. The demand for cardiac resynchronization therapy pacemaker is fueled by the implementation of minimally invasive procedures. Minimally invasive catheter-based procedures help improve the quality of life of individuals and have been proven to be safe and efficient. They reduce the need for blood transfusions, the risk of infections, and hospital stays. Additionally, they also cause minimal blood loss and less pain and scarring and leads to rapid healing and recovery and better clinical outcome. During 2015, the Americas dominated the global cardiac resynchronization therapy pacemaker market with market share of around 53%. The rising incidence of hypertension, high cholesterol, and diabetes leading to cardiovascular diseases in the region, will further fuel growth in the cardiac resynchronization therapy pacemaker market in the Americas during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Robot-assisted cardiac surgeries are becoming increasingly popular. Robotic technology provides physicians a better view of the operative field and easy movement of instruments with precision and control within close-fitting spaces. These surgeries help reduce the duration of hospital stays, facilitating better cost management. Besides, they also eliminate any possibility of human errors and ensure improved outcomes, reduced recovery periods, and minimal pain and discomfort,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The rising prevalence of cardiovascular diseases (CVDs) is prompting governments across the globe to organize awareness programs. Such programs are conducted to educate people about the efficient use of cardiovascular devices to prevent death from heart failure. For instance, the European Society of Cardiology, in association with 42 national heart failure working groups, initiated the global heart failure awareness program.
The key vendors in the global cardiac resynchronization therapy pacemaker market include BIOTRONIK, Boston Scientific, LivaNova, Medtronic, and St. Jude Medical. Intense competition prevails in this market where the vendors are implementing various strategies to expand their geographical presence and increase their market shares. They are extensively investing in research activities to develop safe and efficient products and gain regulatory approvals for their launch in the market. Moreover, the growing dominance of leading vendors will restrict the entry of new players in the market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Cardiac Resynchronization Therapy Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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