Pacemaker devices constitute a major segment in a rapidly expanding cardiovascular devices market. The global cardiac pacemakers market is characterized by relatively mature conditions and intense competition. However, an aging global population, and the subsequent rise in the incidence of cardiovascular diseases, has ensured a steady growth for the pacemakers market. Besides competition from ICD devices, general decline in the prices of pacemakers and loss in consumer confidence amid recent product recalls has led to sluggish growth in the market. In the developing countries, China and India (with vast population base) are primary markets for cardiac rhythm management products.