by The global pacemakers market size was valued at USD 3.4 billion in 2020, and is predicted to be worth around USD 6.01 billion by 2030, registering a CAGR of 3.6% during the forecast period 2022 to 2030.
Growth Factors
This growth is owing to various factors such as technological advancements and the increasing prevalence of cardiovascular devices. Furthermore, the growing sedentary lifestyle coupled with the rising geriatric population is also anticipated to fuel the market growth during the projected period. During the COVID-19 pandemic, the market experienced a decline in revenues. This is owing to the postponement and cancellation of surgeries. According to the National Center for Biotechnology Information (NCBI), there was around a 73% reduction in de-novo pacemaker implantation during the initial months of the pandemic, which heavily impacted the market.
Get sample copy of this report@ https://www.visionresearchreports.com/report/sample/39098
Rising incidences of CVDs, increasing cost of cardiac disease management, favorable government policies, and the launch of technologically advanced pacemakers such as the MRI safe pacemakers and leadless pacemakers are chiefly driving the growth in the market. The rising burden of cardiovascular diseases is one of the key factors for the growth of the market.
By Product Analysis
The implantable pacemakers segment held the largest share of more than 60% of the pacemakers’ market in 2021. Implantable pacemakers are further classified into a single chamber, biventricular pacemakers, and dual-chamber.
The external pacemaker segment is expected to show promising growth during the forecast period due to the easy configuration, enhanced user interface, and improved low battery indicator.
The presence of market players such as Medtronic, Pacetronix, and Oscor Inc., dealing in the external pacemakers’ is also anticipated to positively influence segment growth.
By Type Analysis
In terms of revenue, the conventional pacemakers segment dominated the market and accounted for the largest revenue share of over 51.0% in 2021. This growth is owing to continuous upgradations, affordability, small-sized, and elongated shelf life.
The MRI compatible pacemaker segment is expected to show lucrative growth during the forecast period. The high share is attributable to increased MRI-based diagnosis.
By Application Analysis
The arrhythmias segment dominated the pacemakers market and held the largest revenue share of 37.6% in 2021. The segment is further divided into atrial fibrillation, heart block, and long QT syndrome.
Factors such as lifestyle disorders, excessive alcohol consumption, smoking, and obesity are contributing to the prevalence of cardiac arrhythmia.
The congestive heart failure segment is the second-fastest-growing segment during the forecast period. As per the CDC, in December 2019, nearly 6.5 million adults in the U.S. suffer from heart failure.
By End-use Analysis
The hospitals and cardiac centers segment held a dominant share of around 60.6% in 2021. Hospitals and cardiac centers offer superior care to their patients while they are admitted. In addition, these centers also offer reimbursements during surgeries, thereby, driving the growth of the segment.
The ambulatory surgical center segment is expected to show promising growth during the forecast period owing to its advanced market reach especially to rural parts and ease of treatment. Ambulatory surgical centers have proven to be a competent solution in this scenario.
By Regional Analysis
North America dominated the market for pacemakers and accounted for the largest revenue share of around 43.4% in 2021. This growth is owing to the increasing elderly population with cardiac problems, the presence of key players, rapid technological advancements such as MRI compatible pacemakers, Bluetooth enabled pacemakers, and improving regulatory approvals.
In Asia Pacific, the market is likely to exhibit a lucrative CAGR of around 4.8% over the estimated period. This growth of the market in the region is owing to market penetration by the key players, and massive untapped opportunities are driving the growth.
Key Players
- Boston Scientific Corporation
- Zoll Medical Corporation
- Medtronic
- BIOTRONIK
- MicroPort Scientific Corporation
- Cook Medical
- MEDICO SpA
- Pacetronix
- Oscor Inc.
- Osypka Medical GmbH
Market Segmentation
- By Product
- Implantable pacemakers
- Single Chamber
- Dual Chamber
- Biventricular Chamber
- External pacemakers
- Implantable pacemakers
- By Type
- MRI Compatible Pacemakers
- Conventional Pacemakers
- By Application
- Arrhythmias
- Atrial Fibrillation
- Heart Block
- Long QT Syndrome
- Congestive Heart Failure
- Others
- Arrhythmias
- By End-use
- Hospitals & Cardiac Centers
- Ambulatory Surgical Centers
- Others
Download Full Report @ https://www.visionresearchreports.com/report/cart/39098
Key Points Covered in Pacemakers Market Survey
- Demand will remain high in the U.S., backed by favorable reimbursement policies and presence of some of the leading market players.
- Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
- China and India will exhibit high demand for Pacemakers, backed by expanding healthcare sector.
- Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Pacemakers market.
- In terms of (segment type), (segment name) will emerge as the top-choice.
- Hospitals are expected to showcase higher demand for Pacemakers on account of greater access to advanced technologies and higher footfall of patients.
- Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Pacemakers market will continue increasing at a high pace.
Some of the key highlights covered in the report includes:
- Pacemakers Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global Pacemakers market. It examines trends and factors influencing demand for Pacemakers globally and gauges the impact of the same on the production.
- Pacemakers Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
- Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
- Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Pacemakers across the world.
- Competitive Analysis – Some of the leading market players are profiled in the report on Pacemakers. The report offers estimation of share individually help by the market players and determines the impact of some of their popular strategies.
- COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
- Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.
Why should you invest in this report?
If you are aiming to enter the global Pacemakers market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Pacemakers are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Download Full Report @ https://www.visionresearchreports.com/report/cart/39098
About Us
Vision Research Reports is unquestionably an expert in providing research reports on a diverse number of subjects including Alternative and Green Energy, Chemical, Energy, Glass, Machinery, Manufacturing, and Pharmaceuticals and Materials. We cater to distinguished MNCs, private equity firms, SMEs and Chinese companies pertaining to their market research data requirements.
We offer generic and amalgamated studies as well as customized studies to our clients based on their specific requirements. Our modus operandi constitutes of detailed and meticulous market surveys, company profiling, competitive landscaping and primary interviews. Our prudent insights have been vital in the inception of many investment programs, new project development programs, startups and technology breakthroughs.
Contact Us
Mr. Alex
Sales Manager
Call: +1 9197 992 333
