Bradycardia is a condition, wherein the heartbeat is too slow i.e., less than 60 beats per minute. The incidence of bradycardia increases with age, as the underlying causes become more frequent. Other factors projected to increase the number of bradycardia cases include rise in obesity, chest pain or palpitations, increase in uptake of irrigated radiofrequency (RF) ablation catheter devices. Electrocardiogram is the primary diagnostic tool for evaluating bradycardia. The global bradycardia market is anticipated to be driven by rapidly growing significance of electrophysiology, a cardiology subspecialty, in the discovery of new treatments and cures for almost all cases of heart condition.
Rise in adoption of Western lifestyle and dietary pattern in emerging markets in Southeast Asia and Latin America is expected to increase prevalence of cardiac disorders. This in turn is likely to propel the global bradycardia market. The market in North America is projected to witness strong growth during the forecast period. However, emerging regions such as Asia Pacific are anticipated to present significant opportunities in the market due to unmet medical needs and improving health care infrastructure.
Bradycardia drugs are used to treat cardiac problems such as abnormal heart rhythm which results in an extremely slow heartbeat. Bradycardia is caused as a result of a heart disease or a disorder which affects the function of the heart. The goal of bradycardia drug therapy is to restore normal cardiac function and prevent life-threatening consequences. Bradycardia causes lightheadedness, fatigue, fainting or near-fainting spells, dizziness, and at times cardiac arrest. The geriatric population is more affected by bradycardia than younger people.
Factors such as rise in the number of patients suffering from obesity, increase in chronic diseases, surge in consumption of alcohol & cigarettes, work pressure, and unhealthy lifestyles are expected to drive the global bradycardia market. According to the Centers for Disease Control and Prevention, more than one-third (36.5%) adults in the U.S. suffer from obesity. Increase in research and development activities, rise in the geriatric population, and rich product pipeline are likely to propel the global bradycardia market. However, intense competition and stringent regulatory scenario are projected to restrain the market.
In terms of product, the global bradycardia market can be segmented into drugs and medical devices. The bradycardia market is likely to exhibit steady growth in the next few years due to the growing cardiac health care and medical devices sectors. Strong government support for the health care sector and medical devices industry is expected to augment the global cardiac assist devices market during the forecast period. Based on distribution channel, the global bradycardia market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies.
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Geographically, the global bradycardia market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2017 due to the presence of top players, increase in geriatric population, and rise in prevalence of cardiac diseases. According to CDC, an estimated 2.7 million to 6.1 million people in the U.S. experience atrial fibrillation each year. Europe was the second leading market for bradycardia drugs owing to increase in research & development activities and rise in consumption of tobacco. According to the World Health Organization, Europe exhibits high prevalence of tobacco smoking among adults. The market in Asia Pacific is likely to expand at a higher CAGR due to the presence of a large patient pool, rise in prevalence of cardiovascular diseases, surge in disposable income, increase in government initiatives, and high awareness. Emerging regions such as Latin America and Middle East & Africa are projected to present significant opportunities in the bradycardia market during the forecast period.
Key players operating in the global bradycardia market include Abbott Laboratories, Medtronic plc, Berlin Heart GmbH, Abiomed, Inc., Carmat SA, Thoratec Corporation, Teleflex Incorporated, SynCardia Systems, Inc., Teva Pharmaceutical Industries, Mylan N.V., GlaxoSmithKline LLC, Upsher-Smith Laboratories LLC, Sanofi, and Novartis International AG.