Market Overview:
Cardiac autonomic control products include pacemakers, implantable cardioverter defibrillators (ICDs), and cardiac resynchronization therapy (CRT) devices. Pacemakers are implanted under the skin to monitor and regulate abnormal heart rhythms or slow heart rates. They help improve the quality of life for patients with cardiac arrhythmias.
Market Key Trends:
One of the key trends in the cardiac autonomic control market is the rise in technological advancements. Manufacturers are increasingly focusing on developing innovative products to offer better treatment options. For instance, wireless pacemakers without leads are currently in development stage which will eliminate the risk of infections often associated with traditional pacemakers. These next generation pacemakers would be smaller in size and communicate with an external device wirelessly to deliver therapy. This is expected to drive the future growth of the market during the forecast period.
Market key trends:
One of the key trends in the cardiac autonomic control market is the rise in cardiovascular diseases (CVDs). According to the World Health Organization, CVDs are the number one cause of death globally, taking an estimated 17.9 million lives each year. The increasing prevalence of CVD risk factors such as obesity, physical inactivity and an increasingly aged population is expected to significantly drive the demand for cardiac autonomic control devices in the coming years.
SWOT Analysis
Strength: The presence of favorable reimbursement policies for cardiac devices drives the adoption of cardiac autonomic control devices.
Weakness: High cost of advanced cardiac devices hampers its adoption in price sensitive markets.
Opportunity: Increase in research and development activities to develop innovative technologies in cardiac devices.
Threats: Stringent regulatory approval process for new cardiac devices poses significant threat to new market entrants.
Key Takeaways
The Global Cardiac Autonomic Control Market Demand is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of cardiovascular diseases. North America is expected to dominate the cardiac autonomic control market over the forecast period owing to high awareness regarding cardiac devices and increasing geriatric population in the region prone to cardiac diseases.
Key players operating in the cardiac autonomic control market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, LivaNova PLC, Nihon Kohden Corporation, Schiller AG, Johnson & Johnson, GE Healthcare.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it