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Pacemakers Market

Pacemakers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2021-2031

Global Pacemakers Market: Overview

The global pacemakers market is being driven by rising prevalence of CVDs, rising costs of cardiac disease care, favorable government policies, as well as the introduction of technologically sophisticated pacemakers such as leadless pacemakers and MRI safe pacemakers. Demand analysis of pacemakers market predicts increasing prevalence of cardiovascular disorders is likely bolster market growth. One of the leading causes of CVD fatalities worldwide is coronary heart disease. By 2030, the economic burden of these illnesses is expected to exceed USD 1,044 billion, highlighting the pressing need for cardiac pacing devices.

Firms like Medtronic and Boston Scientific Corporation are now delivering innovative solutions that are covered by reimbursement plans and help patients. In addition to that, companies are focusing more on producing high-end pacemakers that cater to individualized treatment. These improvements boost precision, add functionality to the workflow, and make it easier to reduce errors, which is likely to drive sales growth for pacemakers market

Product, type, application, end-use, and region are significant market parameters that have been taken into account while categorizing the global pacemakers market.

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Global Pacemakers Market: Notable Developments

For instance, Abbott Laboratories gained FDA clearance for its Gallant line in July 2020, which comprises a cardiac resynchronization therapy defibrillator with Bluetooth technology and an implantable cardioverter-defibrillator.

Some of the major players in the global pacemakers market are as mentioned below

  • MicroPort Scientific Corporation
  • Boston Scientific Corporation
  • Osypka Medical GmbH
  • Zoll Medical Corporation
  • Medico S.p.A.
  • Oscor Inc.

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Global Pacemakers Market: Key Trends

Below-mentioned developments, restraints, opportunities, and drivers are anticipated to characterize the global Pacemakers market

Rise in the Occurrence of Cardiovascular Diseases to Propel the Global Market

Arrhythmias, or erratic cardiac rhythms, are treated utilizing pacemakers. Pacemakers use electric pulses to maintain a regular heartbeat. Pacemakers can be implanted in the body either permanently or temporarily. Due to a major rise in the frequency of cardiovascular problems and heightened awareness, the global market for pacemakers is rising at a rapid pace. Furthermore, government efforts and technical breakthroughs are likely to drive revenue-generation opportunities in pacemakers market.

The global pacemakers market was led by the arrhythmias category, which is expected to have a large revenue share. Long QT syndrome, atrial fibrillation, and heart block are different types of atrial fibrillation. Research report on pacemakers market attribute rising incidence of cardiac arrhythmia to various factors such as obesity, excessive alcohol intake, lifestyle problems, and smoking.

The cumulative prevalence of patients with atrial flutter and atrial fibrillation in the UK is 12,32,144 in 2019, according to the European Medical Group LTD. T he congestive heart failure category is likely to be one of the rapidly growing segments. According to the CDC, roughly 6.5 million people in the US suffered from cardiovascular disease as of December 2019. As a result, rising rates of heart failure are expected to fuel demand for technologically sophisticated pacemakers in the years to come.

Global Pacemakers Market: Geographical Analysis

Due to the rising frequency of cardiac disorders and technical improvements in the region, North America is estimated to be the Largest Revenue Generator in pacemakers market. In addition to that, the pacemakers market in this area has been pushed by the rising adoption of this technology.

In the years to come, the pacemaker market in Asia Pacific is predicted to rise rapidly, trailed by Europe. India and China are likely to be the Asia Pacific's two of the rapidly growing pacemakers markets. A big pool of patients, increased government financing, and improved healthcare facilities are some of the primary driving drivers in the pacemakers market in developing nations.

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