Cardiac Pacemakers Market to reach $3.7 billion by 2010, According to New Report by Global Industry Analysts, Inc.
Worldwide cardiac pacemakers market is projected to reach $3.7 billion by 2010. A rapidly aging worldwide population, introduction of innovative products and rising demand for medical devices across developing nations are principal factors contributing to the demand for pacemakers.
San Jose, CA (PRWEB) April 21, 2008 -- Pacemaker devices constitute a major segment in a rapidly expanding cardiovascular devices market. 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.
United States and Europe dominate the global cardiac pacemakers market, capturing 75% share of the volume sales for 2008, as stated by Global Industry Analysts, Inc. However, mature conditions are expected to decelerate the pace of growth in United States and Europe. The relatively untapped markets of Asia-Pacific and Latin America hold enormous growth potential for these devices.
In United States, 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. 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.
Major players profiled in the report include Biotronik GmbH, Boston Scientific Corporation, Medtronic, Sorin Group, St. Jude Medical, and Zoll Medical Corporation.
The report titled "Cardiac Pacemakers: A Global Strategic Business Report" published by Global Industry Analysts, Inc., analyzes the market over the 2000-2015 period across two major segments: Implantable Pacemakers (Single and Dual Chamber Pacemakers), and External Pacemakers. Analysis is presented for the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The report reviews recent industry activity, technological innovations, and product introductions of major market participants across various segments of the cardiac pacemakers market.
For more details of this research report please visit http://www.strategyr.com/Cardiac_Pacemakers_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR.com
Web Site www.StrategyR.com
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