Cardiac Pacemaker Market in India is expected to grow at a healthy rate as people are becoming more aware and cardiac pacemakers are also becoming more user friendly with added features. Also, cardiac pacemakers have become more affordable helping the market to grow even further.
The report begins with macro economic indicators whereby the basic economic indicators have been depicted. In the introduction section various types of pacemakers has been explained. In the market overview section the market size of cardiac pacemaker market in terms of value as well as volume has been depicted. Thereafter the price range of various types of pacemaker as well as the factors which affect the price of pacemakers has been enlisted. Furthermore, a short comparative study between the global market and the Indian market for cardiac pacemaker is also provided. The report also explains about some of the various types of ways in which the players in the cardiac pacemaker market engage with customers in order to increase their market share. In the next section import and export of cardiac pacemakers for the last four years has been highlighted. Also the major countries for import and export for cardiac pacemaker is also depicted.
In the next section drivers and challenges has been highlighted. Drivers include changing demographics i.e. as more people reach close to sixty years of age they are likely to develop some heart complications thus increasing the demand for cardiac pacemakers. Also, in India high rate of cardio vascular disease causes the market to grow even more. Again, compared to other western countries penetration of cardiac pacemaker is less in India-hence, providing ample opportunities for growth for the manufacturers. Growing awareness about the utility of pacemaker among general masses also increases the demand for pacemaker. Of late, insurance companies have started to cover patients for the cost of operation in case of cardiac pacemaker implant which boosts the demand. Challenges include per capita spend for medical devices in India is low compared to Western countries. Again, the government lacks proper regulatory structure for medical devices and there are hardly any government initiatives. Also, high capital expenditure acts as a deterrent for newer players to enter the market.
Trends include improvement in technology which has helped the market to grow as users find it more helpful than ever before. Also, it is possible nowadays to monitor the condition of the patient via internet, because of which the patient feels safer now. In certain cases, cardiac pacemakers are also reused for patients who cannot afford them.
The competition section begins with a Porter's five forces model which analyses the dynamics of the market. The major players in the market have been profiled which includes a financial summary for each of the players. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the cardiac pacemaker market. For each of the companies a SWOT analysis has been provided.
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