Pacemakers Market Worth US$ 10,908.0 Mn by 2027 | Share by company OSCOR, Pacetronix, Lepu Medical, Vitatron, Medico S.p.A.

February 05 14:11 2021
Pacemakers Market Worth US$ 10,908.0 Mn by 2027 | Share by company OSCOR, Pacetronix, Lepu Medical, Vitatron, Medico S.p.A.

Lucrative Regional Pacemakers Markets
Pacemakers market accounted to US$ 5,485.4 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019 – 2027, to account to US$ 10,908.0 Mn by 2027

According to The Insight Partners market research study titled ‘Pacemakers Market – Global Analysis and Forecasts by Product Type, Technology and End User. The global pacemakers market is expected to reach US$ 10,908.0 Mn in 2027 from US$ 5,485.4 in 2018. The market is estimated to grow with a CAGR of 8.1% from 2019-2027. The report highlights the trends prevalent in the global pacemakers market and the factors driving the market along with those that act as deterrents to its growth.

The pacemakers market by product type is segmented into implantable pacemakers and external pacemakers. In 2018, the implantable pacemakers segment held the largest share of the market, by product type. Moreover, the same segment of pacemakers market is also expected to witness growth in its demand at a fastest CAGR of 8.4% during 2019 to 2027. The spurring adoption of these devices relies majorly on the availability of reimbursement that results in reducing the economic burden on the patients in the developed economies that have high prevalence of cardiovascular diseases.

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Some of the prominent players operating in pacemakers market are, Medico S.p.A., Vitatron, Abbott, Medtronic, OSCOR, LivaNova Plc, Abiomed, Boston Scientific Corporation, Biotronik, Zimmer Biomet, and Lepu Medical among others. The market players are focused towards bringing new and innovative products to sustain their position in the market. For instance, In August 2017, BIOTRONIK introduced smallest MR conditional CRT-P named Edora HF-T QP for patients suffering with heart failure. The launch is likely to help company complement its pacemakers’ portfolio as well as account for revenue growth.

Key factors driving the market are increasing burden of cardiovascular diseases, increasing technological advancements and large pool of geriatric population. However, high cost of implantation procedures and product recalls for pacemakers are likely to refrain the market growth. Additionally, the future trends such as product innovations are likely to increase the growth of the pacemaker market in the forecasted period.

Increasing Burden of Cardiovascular Diseases

A pacemaker is an electronic device designed to produce electrical impulses to stimulate the heart when normal physiological stimulation fails. In 2017, according to the World health organization, the increasing prevalence of cardiovascular diseases is the major cause of death all over the world. Moreover, it was mentioned that 17.9 million people across the globe died due to cardiovascular diseases in 2016. Cardiovascular disease is one of the leading causes of morbidity and mortality and is responsible for 30% of worldwide mortality, according to the World Health Organization. Moreover, according to the Centers of Disease Control and Prevention, Coronary heart disease (CHD) is the most common type of heart disease, killing over 370,000 people annually. Furthermore, according to the American Heart Association, in 2016, Coronary Heart Disease was the leading cause (43.2%) of deaths attributable to cardiovascular disease in the US, followed by stroke (16.9%), High Blood Pressure (9.8%), Heart Failure (9.3%), diseases of the arteries (3.0%), and other cardiovascular diseases (17.7%).

Growing Healthcare Market in the Developing Economies

Most of the developing country have adopted naturopathic medical system instead of a conventional medical system. The healthcare infrastructure in large cities of developing countries may have all the necessary amenities but rural areas may not. Thus, these massive unexplored areas pose ample revenue generation opportunities for pacemaker market. The countries like China and India have large patient population base and the healthcare expenditure is increasing, thus illustrating immense healthcare market potential. According to the India Brand Equity Foundation in 2017, the hospital industry in India reached US$ 61.79 billion and is predicted to reach US$ 132.84 billion by 2023. Thus, with the growing healthcare industry and increasing government initiatives, the demand for pacemakers is expected to increase in the developing economies.

Reasons to Buy:

  1. The nature of Pacemakers business opportunities has grown in complexity with the industry evolving at a greater pace, making it increasingly difficult going without adequate information on markets and companies.
  2. Gain a complete understanding of Global Pacemakers industry through the comprehensive analysis
  3. Evaluate the pros and cons of investing/operating in country level Pacemakers markets through reliable forecast model results
  4. Identify potential investment/contract/expansion opportunities
  5. Drive your strategies in the right direction by understanding the impact of latest trends, market forecasts on your Pacemakers business
  6. Beat your competition through information on their operations, strategies and new projects
  7. Recent insights on the Pacemakers market will help users operating in the market to initiate transformational growth

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