Pacemaker Market Size, Share, Forecast 2022

1
The global pacemaker market is likely to post a
CAGR of 6.5 over the forecast period of
2018-2023, asserts Market Research Future (MRFR)
in an exclusive study. Surging prevalence of
cardiovascular diseases across the globe is the
prime drive behind the growth of the global
pacemaker market. A pacemaker is used in the
management of atrial fibrillation, to maintain
adequate heart rate. Increasing global geriatric
remains a significant growth driver. The old age
population is more prone to developing cardiac
disorders and subsequently boosting the growth
of the global pacemaker market. Technological
advancements in the pacemaker arena have
resulted in the development of improved
pacemakers with extended battery life, smaller
size, better performance, and reduced failure
rate. Leadless pacemakers are the new addition to
the pacemaker space. They are typically the size
of a pill and can be implanted with a minimally
invasive procedure. Other driving factors
include raising awareness regarding
cardiovascular disorders and the general decline
in the prices of pacemakers and treatment
procedures. The rise in a number of FDA approval
for new pacemakers can also be credited for the
growth of the market. On the contrary, the growth
of the global pacemaker market might be hindered
due to the high costs associated with pacemakers
which limit market growth in price-sensitive
markets. Post-implantation complications of
pacemakers are also possible bottlenecks to the
growth of the global Pacemaker Market Share. The
market growth is also at a threat from
alternative treatment options. Competitive
Landscape Global manufacturers of pacemakers
market include Biotronik GmbH Co. KG (Germany),
Medtronic Plc (U.S.), Sorin Group, St. Jude
Medical Inc. (U.S.), Edwards Lifesciences (U.S.),
ATS Medical (U.S.), Vitatron Holding B.V. (the
Netherlands), Zoll Medical Corporation (U.S.),
and Boston Scientific Corporation
(U.S.). Segmentation The pacemaker market has
been segmented based on product type,
application, implant approach, and end user. By
product type, the global pacemaker market has
been segmented into implantable, and external.
The implantable segment has been segmented into
single chamber, dual chamber, and
biventricular. By application, the global
pacemaker market has been segmented into syncope,
hypertrophic cardiomyopathy, bradycardia, and
heart failure. The bradycardia segment has been
further segmented into sinus node dysfunction
and AV block. By implant approach, the global
pacemaker market has been segmented into
endocardial approach and epicardial approach. By
end user, the global pacemaker market has been
segmented into hospitals clinics, ambulatory
surgical centers, research academic institutes,
and others. Regional Analysis Geographically, the
global pacemaker market has been segmented into
the Americas, Europe, Asia Pacific (APAC), and
the Middle East Africa (MEA). The Americas
pacemaker market has been segmented into North
America and South America. The Americas is at
the forefront of the global pacemaker market due
to the high prevalence of cardiovascular
disorders in the region which induces greater
demand for pacemakers. The region
2
tends to adopt advanced technologies swiftly
which coupled with higher affordability drives
the market in the Americas. Europe is the second
largest market for a pacemaker. The Europe market
is driven by government funding for RD and the
presence of leading market participants in the
regions. APAC is slated to be the fastest
growing market over the forecast period. The MEA
market is likely to exhibit the lowest growth
due to limited development in the medical field,
lack of technical knowledge, and poor medical
facilities. Industry Updates December 2018-
Carondelet St. Josephs Hospital in Tucson, the
US is now offering a leadless pacemaker which
can be implanted through a minimally invasive
surgical procedure. The pacemaker can be used to
treat patients with irregular or
slower-than-normal heart rate. The new pacemaker
is about the size of a vitamin pill and does not
require cardiac wires. About US Market
Research Future (MRFR) enable customers to
unravel the complexity of various industries
through Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. Contact
us Market Research Future (part of Wantstats
Research and Media Private Limited), 99 Hudson
Street,5Th Floor, New York, New York 10013