Cardiac Pacemakers Market to Reach $3.7 Billion by 2010
April 22, 2008 - The cardiac pacemakers market is expected to reach $3.7 billion by 2010, according to the report "Cardiac Pacemakers: A Global Strategic Business Report," published by Global Industry Analysts Inc.
Developing world, China and India with vast population base are primary markets for cardiac rhythm management products. Asia-Pacific is expected to witness the fastest growth both in terms of dollar and unit sales over the 2000-2010 period. Single-chamber pacemakers market in the region is projected to reach $95 million by 2010.
The worldwide cardiac pacemakers market is characterized by relatively mature conditions and intense competition. However, an aging global population, and the subsequent rise in the incidence of cardiovascular diseases, has ensured a steady growth for the pacemakers market. Besides competition from ICD devices, general decline in the prices of pacemakers and loss in consumer confidence amid recent product recalls has led to sluggish growth in the market. In the developing world, China and India with vast population base are primary markets for cardiac rhythm management products.
U.S. and Europe dominate the global cardiac pacemakers market, capturing 75 percent share of the volume sales for 2008, as stated by Global Industry Analysts. However, mature conditions are expected to decelerate the pace of growth in those markets. The relatively untapped markets of Asia-Pacific and Latin America hold enormous growth potential for these devices.
In the U.S., implantable pacemakers represent the leading product segment, capturing a bulk of the pacemakers market, in volume and value terms. Sales from Implantable pacemakers market in the region are projected to reach $1.7 billion by 2010. Mature conditions in the cardiac pacemakers market have significantly eroded prices of the pacing devices, resulting in lower revenue generation and stagnant growth. With ICD and CRT devices expected to drive growth in the overall CRM market, manufacturers are less enthusiastic about developing advanced versions of pacemaker devices. Lack of path-breaking technological innovations and absence of any new indications for pacemakers have further shrunk growth opportunities in the market.
Europe represents the second largest market for cardiac pacemakers. Dual-chamber pacemakers market in the region is estimated at $663 million for 2008.
Major players profiled in the report include Biotronik GmbH, Boston Scientific Corporation, Medtronic, Sorin Group, St. Jude Medical, and Zoll Medical Corporation.
For more information: www.strategyr.com
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