Pacemakers Market is expected to reach US$ 5.1 Billion in 2028, growing at a CAGR of 3.20% during 2022-2028, reports Stratview Research.
Raipur, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Pacemakers Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Pacemakers Market is driven by a host of factors, some of which are noted below:
Increasing incidences of cardiovascular diseases (CVDs)
Favorable government policies,
The rising cost of cardiac disease management
The emergence of technologically advanced pacemakers such as leadless pacemakers and MRI-safe pacemakers.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Pacemakers Market Segmentation:
Stratview Research has segmented the market in the following 5 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Application Type (Arrhythmias [Atrial Fibrillation, Heart Block, Long QT Syndrome], Congestive Heart Failure, Others)
By Type (MRI Compatible Pacemakers, Conventional Pacemakers)
By Product Type (Implantable pacemakers [Single Chamber, Dual Chamber, Biventricular Chamber], External pacemakers)
By End-use Type (Hospitals & Cardiac Centers, Ambulatory Surgical Centers, Others)
By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Pacemakers Market Insights
Market Trends by Application Type
Based on the Application, the pacemakers market is classified into arrhythmias, congestive heart failure, and others. The arrhythmias accounted for a revenue share of nearly 35% in 2021 and are estimated to register a healthy CAGR during the forecast timeline. The segment is further segmented into atrial fibrillation, heart block, and long QT syndrome. The segment growth is mainly attributed to excessive alcohol consumption, smoking, lifestyle disorders, and obesity, contributing to the prevalence of cardiac arrhythmia.
Market Trends by Product Type
Based on the Product, the market has been segmented into Implantable pacemakers [Single Chamber, Dual Chamber, Biventricular Chamber], and External pacemakers). The Implantable pacemakers segment accounted for a revenue share of nearly 58% in 2021.
Market Trends by Type
Based on the Type, the market has been segmented into (MRI Compatible Pacemakers, and Conventional Pacemakers). The Conventional Pacemakers segment accounted for a revenue share of nearly 50% in 2021.
Market Trends by End-use Type
Based on the End-Use, the market has been segmented into (Hospitals & Cardiac Centers, Ambulatory Surgical Centers, and Others). The Hospitals & Cardiac Centers segment accounted for a revenue share of nearly 58% in 2021.
Which region offers the best opportunity and growth?
The North American market accounted for a revenue share of nearly 40% in 2021 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to its well-established healthcare industry. Also, the presence of key players, the growing elderly population with cardiac problems, rapid technological advancements such as MRI-compatible pacemakers and Bluetooth-enabled pacemakers, and improving regulatory approvals, further proliferate the regional market growth.
COVID-19 Impact on the Pacemakers Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Abbott Laboratories (US)
Boston Scientific (US)
Lepu Medical (China)
Shree Pacetronix (India)
Osypka Medical (Germany)
Medico Spa (Italy)
What deliverables will you get in this report?
In-depth analysis of the Pacemakers Market
Detailed market segmentation.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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