Market Research Future (MRFR) has published a cooked research report on the “Cardiac Pacemaker Market” that contains information from 2018 to 2030. The Cardiac Pacemaker Market is estimated to register a CAGR of 3.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Cardiac Pacemaker MarketSorin Group, Abbott Laboratories, Pacetronix, Biotronik SE & Co. KG, Cook Medical, Zoll Medical Corporation, Boston Scientific Corporation, Medtronic P.L.C., Osypca Medical GmbH, and Medico SpA.
The global Cardiac Pacemaker Market is accounted to register a CAGR of 3.20% during the forecast period and is estimated to reach USD 5.8 billion by 2030.
The cardiac pacemaker market refers to the industry that focuses on the development, manufacturing, and distribution of cardiac pacemaker devices. Cardiac pacemakers are implantable medical devices used to treat individuals with abnormal heart rhythms or arrhythmias. These small electronic devices are typically placed under the skin of the chest or abdomen and are connected to the heart using one or more leads. Pacemakers monitor the heart's electrical activity and deliver electrical pulses to regulate the heart rhythm and ensure it beats at a normal pace.
The global Cardiac Pacemaker Market has been segmented based Type, Technology, Application
The market segments of Cardiac Pacemaker is divided into implantable and external. The implantable pacemaker segment will hold the largest share of more than 62% of the pacemaker market by 2022. Interest in these devices for treating cardiovascular failure and cardiac arrhythmias, along with ongoing pilot clinical studies, are the major considerations driving the market revenue of cardiac pacemaker. Atrial fibrillation was the most widely recognized type of heart rhythm disorder in 2017, affecting an estimated 2.7 to 6.1 Billion people in the U.S.U.S. alone, according to the C.D.C. In this way, market development is driven by the increasing dominance of CVD.
The Cardiac Pacemaker is segmented by technology, including biventricular, single-chambered, and dual-chambered. Reduced postoperative complications can lead to partial growth. Biventricular pacemakers are expected to gain momentum due to the presence of multiple tracks. These devices can be installed in multiple locations because they consist of three tracks installed in the left and right atria and ventricles. These biventricular pacemakers are very useful because of their many benefits in helping with conditions such as ventricular desynchrony.
The application-based Cardiac Pacemaker market data include arrhythmias and congestive heart failure. The arrhythmia segment dominated the pacemaker market and accounted for the largest revenue share at 37.6% in 2021. The segment is further segmented into atrial fibrillation, heart block, and long Q.T.Q.T. syndrome. Factors such as lifestyle disorders, excessive alcohol consumption, smoking, and obesity contribute to the prevalence of cardiac arrhythmias. According to the European Medical Group L.T.D., in 2019, the overall prevalence of atrial fibrillation and atrial flutter in the U.K. was 12,32,144.
The global Cardiac Pacemaker Market, based on region, has been divided into North America, Europe, Asia-Pacific and the Rest of the World. The North America Cardiac Pacemaker market accounted for USD 2.1 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This growth is due to the increasing geriatric population suffering from cardiac issues, the presence of major players, rapid technological advancements (e.g., M.R.I. compatible pacemakers, Bluetooth-enabled pacemakers), and improvements in regulatory approvals. Further, the major countries studied in the market report for cardiac pacemaker are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe's Cardiac Pacemaker market accounts for the second-largest market share owing to the rising prevalence of cardiovascular diseases such as arrhythmia, technological advancements in diagnostic instruments, and the demand for pacemakers. Surge minimally invasively implanted a pacemaker in the area. Further, the U.K. market of cardiac pacemaker held the largest market share, and the Germany market of cardiac pacemaker was the fastest-growing market in this region.
The Asia Pacific, cardiac pacemaker Market, is expected to grow at the fastest CAGR from 2022 to 2030. The market growth in this region is due to the market penetration of major players, and many untapped opportunities are driving the growth. Additionally, investments in the healthcare sector, especially in Japan, China, and India, have gained traction. These countries are gradually focusing on developing strong medical facilities for cardiovascular diagnosis and treatment. These factors are expected to drive market growth in the coming years. Further, the China market of cardiac pacemaker held the largest market share, and the India market of cardiac pacemaker was the fastest-growing market in the region.
Key Findings of the Study
· The global Cardiac Pacemaker Market is expected to reach USD 5.8 billion by 2030, at a CAGR of 3.20% during the forecast period.
· The Asia Pacific, cardiac pacemaker Market, is expected to grow at the fastest CAGR from 2022 to 2030. The market growth in this region is due to the market penetration of major players, and many untapped opportunities are driving the growth.
· The market segments of Cardiac Pacemaker is divided into implantable and external. The implantable pacemaker segment will hold the largest share of more than 62% of the pacemaker market by 2022.
· Sorin Group, Abbott Laboratories, Pacetronix, Biotronik SE & Co. KG, Cook Medical, Zoll Medical Corporation, Boston Scientific Corporation, Medtronic P.L.C., Osypca Medical GmbH, and Medico SpA.
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