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Global Pacemaker Market Is Anticipated To Grow at CAGR of 6.5% Till 2023 | Key Players: Pacetronix, Medtronic Plc, Sorin Group, Edwards Lifesciences, Vitatron and Cordis

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Global Pacemaker Market Is Anticipated To Grow at CAGR of 6.5% Till 2023 | Key Players: Pacetronix, Medtronic Plc, Sorin Group, Edwards Lifesciences, Vitatron and Cordis

August 24
19:33 2019
Global Pacemaker Market Is Anticipated To Grow at CAGR of 6.5% Till 2023 | Key Players: Pacetronix, Medtronic Plc, Sorin Group, Edwards Lifesciences, Vitatron and Cordis

Pacemaker Market
Global Pacemaker Market has been segmented on the basis of applications include bradycardia, heart failure, hypertrophic cardiomyopathy, syncope and others

The global Pacemaker Market is anticipated to grow at CAGR of 6.5% over the forecast period of 2018-2023, as per the latest study report by Market Research Future (MRFR). Increase in global geriatric population is also creating a conducive environment for the growth of the pacemaker market. Atrial fibrillation and cardiac diseases are more prevalent in old patients. As per a 2018 study published in the Aging Medicine, there is 5 to 9% chance of occurrence of atrial fibrillation in patients between the age of 60-80 years and nearly 10% in patients aged over 80 years. Pacemakers regularizing heart rhythm by sending electric pulses to the heart and help in restoring cardiac activity, can also be helpful in relieving some arrhythmia symptoms, such as fatigue and fainting. The surge in the prevalence of cardiac diseases has generated high demand for pacemakers which is driving the growth of the global pacemaker market. Atrial fibrillation, in particular, has witnessed a higher incidence rate in recent years which requires pacemakers for remediation.

In recent years, various new pacemakers have received clearance from regulatory bodies which also has augmented the growth of the global pacemaker market. However, the approval and marketing if pacemakers are regulated by the US FDA which are stringent considering the degree of risk they pose to patients. Such stringent regulatory requirements might impede the growth of the market. High costs of pacemakers, risks involved in implantation procedures and risks of malfunctioning are other possible bottlenecks.

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Other factors aiding the growth of the market include an elevated level of awareness regarding cardiovascular diseases, improvement in reimbursement scenario, and high healthcare expenditure across the globe. Technological advancements have resulted in the development of advanced pacemakers which are smaller in size and have longer battery life.

Competitive Landscape

Pacetronix, Medtronic Plc, Sorin Group, Edwards Lifesciences, Cook, and Vitatron, ZOLL Medical Corporation, MEDICO S.p.A, Cordis, Inc., St. Jude Medical Inc., Biotronik GmbH & Co. KG, Boston Scientific Corporation, General Electric Company, are the key players in the global pacemaker market.

Segmentation

The global pacemaker market has been segmented based on product type, application, implant approach, and end-user.

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.

By product type, the global pacemaker market has been segmented into implantable and external. The implantable segment has been further segmented into single chamber, dual chamber, and biventricular.

By application, the global pacemaker market has been segmented into bradycardia, heart failure, hypertrophic cardiomyopathy, syncope, and others. The bradycardia segment has been further segmented into sinus node dysfunction and AV block.
Regional Analysis

Regional Analysis

The Americas account for the largest share of the global pacemaker market. Presence of a robust healthcare sector and technological advancements accelerate the growth of the market. The FDA has also been approving various novel pacemakers in the region. Moreover, the presence of various medical device manufacturers and surging cases of cardiovascular disorders support market growth in the Americas.

APAC pacemaker market is driven by the growing prevalence of atrial fibrillation in the region. In addition, the region has emerged as a medical tourism hub which is likely to propel the growth of the market. Increasing healthcare expenditure and the presence of a large pool of cardiac patients also will have a positive impact on market growth.

Europe follows the Americas closely and ranks second in the global pacemaker market. Growing government support in the form of R&D grants and the growing presence of key players in the region drive the market in Europe. The growing incidence rate of cardiovascular diseases and high healthcare expenditure are other factors substantiating the growth of the market.

The MEA market is likely to exhibit sluggish growth due to lack of healthcare infrastructure, lack of technical knowledge and less awareness regarding cardiac medical conditions.

Browse Full Research Report @ https://www.marketresearchfuture.com/reports/pacemaker-market-1587

Europe follows the Americas closely and ranks second in the global pacemaker market. Growing government support in the form of R&D grants and the growing presence of key players in the region drive the market in Europe. The growing incidence rate of cardiovascular diseases and high healthcare expenditure are other factors substantiating the growth of the market.

The MEA market is likely to exhibit sluggish growth due to lack of healthcare infrastructure, lack of technical knowledge and less awareness regarding cardiac medical conditions.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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