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Follow on Google News | Pacemakers and Cardiac Resynchronization Therapy Pacemakers (CRT-P)The Global Pacemakers and Cardiac Resynchronization Therapy-Pacemakers (CRT-P) Markket was Valued at $4.5 Billion in 2010
By: Rajesh Gunnam to grow from $4.5 billion in 2010 to $5.3 billion by 2017 at a Compound Annual Growth Rate (CAGR) of 2.5% due to increasing incidences of arrhythmia and heart failure. The main market drivers are technological advancements in pacemaker and CRT-P technology and growth in emerging markets such as China, India and Brazil. Dual chamber pacemakers account for the largest segment in the pacemakers and CRT-P market. In 2010, the revenue from dual chamber pacemakers was 70% of the total revenues from the sales of pacemakers and CRT-P devices globally. Even if they are higher priced, dual chamber pacemaker sales are particularly high in developed economies such as the US and Europe because they have better efficacy in comparison to single chamber pacemakers. The dual chamber pacemakers were followed by single chamber pacemakers with sales comprising 26% of the total revenues. The sale of single chamber pacemakers is high in developing economies such as China, India and Brazil because of their lower price. As the CRT-P device market is still in an early development stage its revenues are small. In terms of revenues and volume, the US and Europe are the biggest markets for pacemakers and CRT-P devices. In 2010, the US accounted for 39% of the global revenues from sales of pacemakers and CRT-P devices, closely followed by Europe which contributed 38% towards the global market. The main driving factors in these countries are the increasing number of arrhythmia and heart failure cases and better affordability and healthcare reimbursement models. However, device consumption rates in these countries have decreased due to effects of the global recession and pacemakers reaching their peak sales. This has resulted in companies shifting their focus towards emerging markets which is expected to provide the next impetus for growth. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ In 2010, Medtronic was the leading player in the pacemakers and CRT-P market with 40% of the global market share. The main driver for its growth is the launch of products based on technological advancements such as the MRI (magnetic resonance imaging) safe pacemaker and CRT-P range. The other major players in the pacemaker and CRT-P market are St. Jude Medical, BIOTRONIK, Boston Scientific and Sorin Group. The US healthcare reforms introduced in 2010 may have a negative impact on the growth of the pacemakers and CRT-P market. In March 2010, the US President Barack Obama signed into law the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act of 2010, popularly known as the US Healthcare reforms. The levying of excise duty of 2.3% on sales of all medical devices in the US is expected to be introduced in 2013. The increased tax burden may result in an increase in the price of medical devices along with an adverse impact on market growth in terms of revenues and volume. GlobalData’s new report, “Pacemakers and Cardiac Resynchronization Therapy Pacemakers (CRT-P) - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global pacemakers and cardiac resynchronization therapypacemakers markets. The report provides the market landscape, competitive landscape and market trend information on the pacemakers and cardiac resynchronization therapy-pacemakers markets. The report provides comprehensive information on the key trends affecting the market and key analytical content on the market’s dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a global market intelligence services company providing information research and analysis products and services. End
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