Cardiac Pacemaker Market Size, Growth Opportunities, Statistics, Market Scope, Trends Analysis & Global Industry Forecast Report 2022-30
The
incidence of cardiovascular illness is a massive market driver for cardiac
pacemakers. Also, the substantial prevalence of disease in emerging countries
is fueling the growth of cardiac pacemakers considerably. The presence of many
supportive government programs and funding from non-government organizations
will play a key role in the market's remarkable expansion over the projection
period. As per MRFR, the Cardiac
Pacemaker Market is expected to grow at CAGR of 3.20% to reach USD 4.6
Billion during the estimated the forecasting year of 2022-2030.
The market
for the cardiac pacemaker is a critical component of the current health
infrastructure. The rate of investment in the advanced economies is remarkable
as there will be more launches and new cardiac pacemakers resulting in most
hospitals will adopt this technology. Market technological advancements will
create numerous growth prospects. For instance, the advancement of technology
will make cardiac pacemakers easier to operate and handle.
Segmental Analysis
The segmental scrutiny of the cardiac pacemaker market is conducted based
on applications, type, technology, and region. The cardiac pacemaker market is
divided into two types of applications: congestive heart failure and
arrhythmias. The cardiac pacemaker market is divided into two types of
segments: external cardiac pacemaker and implanted
cardiac pacemaker. The cardiac pacemaker market is divided into three
categories based on technology: biventricular, single-chambered, and
dual-chambered. The region segment of the cardiac pacemaker market constitutes
Asia-Pacific, Europe, North America, and other notable regions.
Detailed Regional Analysis
Asia-Pacific, Europe, and North America regions constitute the cardiac
pacemaker market. With the maximum market share, North America will continue to
dominate the total market. It is a region that is responsible for a great deal
of the market's revenue rates. The presence of significant players has added to
the region's progress. In North America, there is a large senior population
with heart difficulties. Furthermore, the main cardiac pacemaker manufacturers
are increasing manufacturing. The use of MRI pacemakers and Bluetooth-enabled
cardiac devices is becoming more commonplace. The Asia Pacific, on the other
hand, is an area with excellent growth prospects. Investments in the health
industry have resulted in strong market growth. India, China, and Japan are the
largest contributors in the region as all of these criteria help regional food
players perform.
Competitive Analysis
Developing
a better service delivery channel is expected to define the global market's
subsequent phase of development. The market is supposed to pick up on the
impacts of the current state of affairs presently. A need to pool viable
alliances is predicted to become more apparent in the market. The market is
likely to be defined by the governments' agreed-upon measures for revitalizing
the entire market. Market competition is expected to be the driving force
behind several global market growth policy restructurings. In the projected
period, changes in manufacturing and distribution tactics are projected to
augment the market on a global scale. The transition to a more effective
working environment is set to change the established working method during the
period considered. The ability to stay in touch with end-users while
effectively expanding the comprehensive footprint is poised to grow as the main
goal for several market stakeholders.
The
formidable contenders in the cardiac pacemaker market are Boston Scientific
Corporation (U.S.), BIOTRONIK (Germany), SORIN Group (Europe), Medtronic
(U.S.), MEDICO S.p.A. (Europe), OSCOR Inc. (U.S.), Abbott. (U.S.), and LEPU
MEDICAL (U.K).
Industry
Updates:
Nov 2021 Abbott released late-breaking data
from the global Leadless II IDE study, which looked at Abbott's investigational
Aveir leadless pacemaker in people with specific irregular heart rhythms. The
results reveal that the Aveir device satisfied its pre-specified primary goals,
implying that once approved, the Aveir system could provide new benefits to
patients who need a pacemaker to manage slow heart rhythms.
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