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DESCRIPTIONThe Asia-Pacific cardiac pacemaker market is growing at a rapid pace with huge amount of resources being invested in prevention, proper diagnosis and treatment of cancer. In Asia, cardiac disorder has become the main cause of deaths and almost half of world’s cancer deaths occur in Asia. The high incidence of cardiac death rates in Asia can be accounted to heavy pollution, changing age structure, westernized diets and lifestyles and others.
Asia Pacific Cardiac Pacemaker Market Report 2019- Ken Research
Globally, cardiovascular device industry has been growing at a significant rate, due to rising incidences of heart diseases and other cardiovascular disorders. Over the years, technological advancements and growing awareness have boosted the growth of cardiovascular devices market. The rising prevalence of the diseases forms one of the major factors driving the growth of the cardiac pacemaker market.
The global market for cardiac pacemaker is growing at a rapid pace with huge amount of resources being invested in prevention, proper diagnosis and treatment of cardiac disorders. Globally, discovery and development of effective pacemaker is the key focus of many pharmaceutical giants. Global cardiac pace-makers market has been witnessing rapid and healthy growth rate, particularly in the developed economies, due to technological improvements and emergence of new market players.
The market has exhibited a positive growth rate over the past few years due to continuous development of cardiac devices which has opened new opportunities in the health care industry.In terms of geography, North America accounted for major share of the total market followed by Europe and Asia. In 2014, North America accounted for ~%, whereas Europe accounted for ~% and rest was covered by Asia Pacific.
However, with recent development in technology and increased research and development, the focus of cardiac pacemaker and its effectives in terms of enhanced life longevity has shifted towards therapeutics. In 2014, the global cardiac pacemaker market has reached USD ~ million, registering a growth of 10.9% from previous year
The Asia-Pacific cardiac pacemaker market is growing at a rapid pace with huge amount of resources being invested in prevention, proper diagnosis and treatment of cancer. In Asia, cardiac disorder has become the main cause of deaths and almost half of worlds cancer deaths occur in Asia. The high incidence of cardiac death rates in Asia can be accounted to heavy pollution, changing age structure, westernized diets and lifestyles and others. The revenue generated in the Asia cardiac pacemaker market has grown from USD ~ Million in 2009 to USD ~ million in 2014 at a CAGR of ~%.
The cardiac pacemaker market has also faced numerous challenges in terms of increased competition because of rising number of organized and unorganized player in the market thus leading to competition in terms of price and thus negatively affecting the revenue. In terms of geography, Japan captured the largest share in the market around ~ accounting to USD ~ million in 2014. India registered second largest share of ~% of the Asia cardiac pacemaker market in 2014, amounting to USD ~ million. Additionally, China captured ~% of the market in 2014.
Cardiac disorder is a complex disease that can affect different people in different ways. Future cardiac treatments will rely on the choice of the most appropriate combination of treatments for patients, based on the genetic profile of their disorders. The market in the Asia is expected to get intensified further because domestic players in different countries have been increasing their research and development expenditure in order to reduce per unit cost of production and compete with global players in terms of price levels and products offered.
Overall, it is predicted that the value of cardiac pacemaker market in Asia-Pacific region will incline to USD ~ million in 2019 from USD ~ million in 2014. Greater influx of patients in cardiac care centres due to rising awareness among the people about the right place for best treatment will continue to escalate the growth of cardiac treatment in the region. The incidences of cardiovascular diseases in India have been on a steady rise since the past decade.
These diseases comprise a major portion of non-communicable diseases and have been the major cause of deaths in the world, accounting for more than a third of the total number of deaths. In India, the sales of cardiac pacemaker registered a CAGR of ~% during 2009-2014. In 2009, market revenue stood at INR ~ million which grew to INR ~ million in 2014. The rise in revenue can be attributed to emergence of new and effective pacemakers in the market, rising awareness and others. A major factor that has contributed to such a stupendous growth of this market is advances in technologies.
The cardiac pacemaker market in China has observed a major proportion covered by global pharmaceutical companies and a minute proportion dominated by local pharmaceutical companies. Overtime, Chinas cardiac pacemaker market has transformed itself to renowned as the largest segment in the pharmaceutical market of China.The pacemaker market has generated revenues worth USD ~ million in 2009 which grew at rate of 20.0% and reached USD ~ million in 2011. The China pacemaker market revenues have increased at a CAGR of ~% over the period of 5 years from 2009-2014.
A major factor contributing to the growth of this market is the growth of ageing population in the China which has a greater susceptibility to cardiac disorders, thus leading to an increase in number of cardiac cases. The challenge in this sector is to maintain links and tie-ups with doctors and hospitals and overcome trust issues which are highly prevalent among the customers development and launch of new drugs in the market. In terms of implantability, the internal pacemakers capture major proportion of the market, contributing towards ~% of the total pacemaker market revenue in 2014, amounting for USD ~ million.
External pacemakers on the other hand accounted for ~% of the total market, amounting for USD ~ million of total pacemaker sales in 2014 In 2014, single chambered pacemakers captured ~% share of the market, accounting for USD ~ million, whereas double chambered contributed towards ~% of revenue generated by the pacemaker market, amounting to USD ~ million in 2014. The share of global cardiac pacemaker manufacturing companies was recorded at 98.0% in 2014 which amounted to USD ~ million.
In Japan the high incidence of cardiac disease rates can be accounted to heavy pollution, changing age structure, transformation towards westernized cultures, increasing consumption of tobacco, rising incidence of smoking and others. Japan's ageing and affluent population represents strong opportunities for pacemaker manufacturers The sales of cardiac pacemakers were registered as USD ~ million in 2009 which grew at a CAGR of ~% to reach USD ~ million in 2014.
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