Growing Applications of Pacemakers in Healthcare to Drive Pacemakers in Healthcare Market Growth
The Pacemakers in healthcare market was valued at US$ 5,485.4 million in 2018 and it is projected to reach US$ 10,908.0 million by 2027; it is expected to grow at a CAGR of 8.1% from 2019 to 2027.
Pacemakers are battery operated medical devices that are placed in the chest or abdomen and help in regularizing the heart beats. Pacemakers are advised for medical conditions such as, bradycardia and heart block. A pacemaker is also suggested for the geriatric population, as normal aging of the heart may disrupt the normal heart rate, making it beat too slowly. Certain pacemakers also come along with sensors that detect body motion or breathing rate, and signals the pacemaker to increase heart rate during exercise to meet the body's increased need for blood and oxygen. The growth of the Pacemakers in healthcare market is attributed to the increasing burden of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements, and large pool of geriatric population. Additionally, the future trends such as product innovations is likely to increase the growth of the pacemakers market in the forecasted period.
Request for sample at: https://www.theinsightpartners.com/sample/TIPHE100000884/
Key Findings from The Pacemakers Market
In terms of product type, the Pacemakers in healthcare market is segmented into implantable pacemakers, 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.
Based on application, the Pacemakers in healthcare market is segmented into single, chambered, dual chambered, and bi-ventricular. In 2018, the single chambered segment held the largest share of the market, by technology. Moreover, the same segment of pacemakers market is also expected to witness growth in its demand at a fastest CAGR of 8.2% during 2019 to 2027.
In terms of end user, the Pacemakers in healthcare market is segmented into hospitals, ambulatory surgical centers, and others. In 2018, the hospitals segment held the largest share of the market, by end user. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the hospitals segments.
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.
Growing Applications of Pacemakers in Healthcare to Drive Pacemakers in Healthcare Market Growth
The increasing technological advancements have opened more opportunities of developing new and innovative medical implantable pacemakers with advanced electrical properties that can improve diagnosis and treatment of previously intractable conditions such as, cardiovascular diseases that includes cardiac arrhythmia, atrial fibrillation and others. 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%). Moreover, the Global Burden of Disease study in 2016 estimates that age-standardized CVD death rate due to cardiovascular diseases is 272 per 100 000 population in India is higher than the global average of 235 per 100 000 population.
Electronic medical implant is an emerging field in the medical industry and has led to various developments of the products, in the field of cardiology, neurology and otology. Many of the market players are developing novel products in order to minimize the burden of cardiovascular diseases, neurological disorders and hearing disorders. For instance, Boston Scientific Corporation in September 2017, launched the Resonate family of Implantable Cardioverter Defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems. This product is powered by EnduraLife battery technology, which has double battery capacity as compared to other devices.
Place an Order Now: https://www.theinsightpartners.com/buy/TIPHE100000884/
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
We are committed to provide highest quality research and consulting services to our customers. We help our clients understand the key market trends, identify opportunities, and make informed decisions with our market research offerings at an affordable cost.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email- sales@theinsightpartners