Allied Market Research provides an encyclopedic study of the Pacemaker Market with holistic insights into key factors and aspects impacting the future growth of the market. The Pacemaker market has been analyzed for the forecast period 2021-2030. The global pacemaker market size was valued at $4.667 billion in 2020, and is estimated to reach $6.678 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030.
Pacemaker is defined as a small, battery-operated medical device, which is implanted in the chest to control the heartbeats. The implantation of pacemaker is used to prevent the heart from slow or irregular beating. It generates electrical impulses, which are delivered by electrodes to contract chambers of heart muscles. The pacemaker aims to regulate the function of the electrical conduction system of the heart. The pacemaker is implanted in the chest through a surgical procedure. It is used for the treatment of chronic irregular, or slow heartbeat, and heart failure. It offers real opportunities to improve medical outcomes and enhance efficiency.
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Increase in prevalence of cardiovascular diseases, rise in demand for advanced pacemaker devices in the healthcare sector, and surge in geriatric population are anticipated to drive the growth of the pacemaker market. In addition, surge in demand to improve patient health has led to the development of innovative technologies in the pacemaker, thereby propelling the growth of the market.
The Pacemaker Market research report can help you in taking the right business decisions. It is a comprehensive and detailed analysis of market trends, opportunities, and challenges that will give you an edge over competitors. You will be able to take informed decisions based on this data-driven study.
Regional overview
North America, Asia-Pacific, Europe, Latin America, The Middle East, and Africa are the provincial order of the worldwide Pacemaker market.
Competitive Outlook
Full-size descriptive and analytical market records, as well as the research technique used to reach various results, are included in the file. This Pacemaker market studies paper offers a thorough list of the market’s top players, as well as detailed information on each company, including an industrial agency company profile, sales shares, a strategy evaluation, and recent developments.
Competitive Landscape with Key Players: Abbott Laboratories, BIOTRONIK, Boston Scientific Corporation, Lepu Medical, Livanova, MEDICO SpA, Medtronic, Oscor Inc., Osypka Medical GmbH, and Shree Pacetronix.
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This report focuses on and highlights the strategies and the trends, in which the manufacturer and the company is likely to move. The research study is also known to provide in-depth analysis of the reports which is one of the key aspects for the growth of the Pacemaker Market.
Europe accounted for a majority of the global pacemaker market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cardiovascular diseases, such as arrhythmia, advancements in technology in diagnostic instruments, and surge in demand for minimally invasive implantation of pacemaker in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to rise in prevalence of cardiovascular diseases, increase in investment in the healthcare sector, and technological advancements in healthcare facilities for cardiac treatment & diagnosis.
KEY FINDINGS OF THE STUDY
- By technology, the dual chamber pacemaker segment was the highest contributor to the market in 2020.
- On the basis of implantability, the implantable pacemaker segment was the highest contributor to the market in 2020.
- Depending on end user, the hospitals & cardiac centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Region wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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