The pacemaker market is anticipated to log fast-paced growth on account of rising prevalence of heart- related disorders like heart blockages, bradycardia, and tachycardia. Increasing public awareness on the options available for the treatment of abnormal heart rhythms or heart arrhythmia disorder could massively benefit its business outlook.
The pacemaker market is anticipated to log fast-paced growth on account of rising prevalence of heart- related disorders like heart blockages, bradycardia, and tachycardia. Increasing public awareness on the options available for the treatment of abnormal heart rhythms or heart arrhythmia disorder could massively benefit its business outlook. Global Market Insights, Inc. estimates that the pacemaker market could hit a valuation of USD 4.2 billion by the year 2025.
Growing emergence of technologically advanced MRI compatible pacemakers could broaden the business horizon for pacemaker companies. Meanwhile, increasing presence of geriatric population that are vulnerable to chronic heart diseases might boost the adoption of these devices. Rapid integration of new features in pacemakers such as transitional tissue welding, microprocessor-controlled devices, and dynamic pacemakers could enhance the demand for new-age pacemakers.
Listed below are some of the ongoing trends propelling pacemaker market size:
Promising opportunities across the U.S. -
The U.S. is regarded as a lucrative ground for pacemaker manufacturers. In 2018, the regional market recorded a valuation of around USD 1.5 billion. Analysts predict that nation could hold a major portion of the global pacemaker market share over the predicted timeline.
The U.S. is observing steady growth in number of cases of abnormal heart rhythm conditions and heart arrhythmia disorders. Citing a Centers for Disease Control and Prevention (CDC) report, in every 37 seconds one U.S citizen dies due to a specific cardiovascular disease. Moreover, heart diseases cause nearly 647,000 deaths per year in the United States.
Increasing demand for cardiac care centers -
Increasing presence of skilled and experienced healthcare professionals coupled with rapid advancements of healthcare facilities could propel the demand for cardiac care centers over the predicted timeframe.
Estimates suggest that the cardiac care centers segment could register a compound annual growth rate of over 4% by 2025. Easy accessibility to CVD treatments could further accelerate the demand of pacemakers across these centers.
To access sample pages of this report titled, “Pacemakers Market Size By Product (Implantable, External), By Technology (Single-chamber Pacemakers {Single-chamber Atrial, Single-chamber Ventricular}, Dual-chamber Pacemakers, Biventricular/CRT Pacemakers), By Type (MRI Compatible, Conventional), By Application (Congestive Heart Failure, Arrhythmias, Bradycardia, Tachycardia), By Age (Under 22 years, 23 – 49 years, 50 – 64 years, 65+ years), By End-use (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3776
Adoption of lucrative business strategies -
Companies operating in the pacemaker market are taking part in multiple strategic initiatives like partnerships, product launches, acquisitions, and mergers to expand their production capabilities and pacemaker market share.
Taking January 2020 for instance, Medtronic’s second-generation wireless pacemaker, Micra AV was cleared by the U.S. Food and Drug Administration. In September, St. Luke’s Health-The Woodlands Hospital became the first hospital in Houston to deliver the world’s smallest pacemaker from Medtronic.
Currently, companies such as Boston Scientific, BIOTRONIK, Medtronic, Pacetronix, OSCOR and Abbott are leading the industry landscape with their innovative products and services.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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