Overview

Pacemakers Market Introduction:

The Pacemakers Market is predicted to value over USD 5.4 billion by 2027 end and is expected to register a CAGR of over 7% from 2020 to 2027.
Increasing cases of cardiac conditions and the latest technological advancements in pacemaker devices are accelerating market growth. The increasing availability of medical coverage coupled with rising cases of cardiovascular diseases is expected to bolster the market. According to the figures released by the World Health Organization, an estimated 17 million people die of CVDs, particularly heart attacks and strokes, every year. High mortality rates linked with cardiac conditions are triggering the growth of the market. Increasing awareness among the population regarding cardiovascular disorders and its long term impact is expected to propel the market.

Increase in research and development initiatives and favourable government policies are expected to fuel the market growth. Under the Medicare Plan in the US, eligible professionals get an reimbursement, approximately USD 7,500 out of USD 10,000. Such initiatives are expected to spike the growth of the market.

Pacemakers Market Overview:
The market is classified into product and region. Based on the product, the market is segmented into implantable and external. Implantable products are expected to dominate the market growth. The growing prevalence of CVDs and features such as high efficiency are the key factors driving the demand for implantable products and spiking the growth of the market.
Biventricular devices of implantable product segment are expected to gain immense popularity as it consists of two or three leads. It is widely used in ventricular dyssynchrony.
Based on the region, North America dictates the growth of the market. The increasing cases of cardiac diseases and technological advancements in the region has expanded the market. Presence of prominent players, advanced healthcare infrastructure and availability of the latest and enhanced products is boosting the presence of the market in the region.
Asia-Pacific region is expected to be a lucrative region owing to innovations and product launches in the region. Rise in the geriatric population in countries like Japan and China alongside favourable changes undertaken by governments of emerging countries to boost its economy is positively influencing the market. Rise in disposable income and increasing healthcare infrastructure is boosting the presence of the market in the region.
Prominent players of the market are Boston Scientific Corporation, Medical Corporation, Cordis, Pacetronix, Vitatron, MEDICO S.p.A, ZOLL Medical Corporation, St.Jude Medical, BIOTRONIK, Inc., and Medtronic.

Competitive Landscape:
● New product development is bolstering the market. The US FDA approved St.Jude Medical's SyncAV. SyncAV is a CRT software which is compatible with St. Jude Medical's multiPoint pacing technology
● FDA approved Medtronic's Azure pacemaker which comes with BlueSync technology
● Medtronic received certification from CE Mark for its upcoming next generation cardiac resynchronization therapy-pacemakers
● Abbott Laboratories received FDA approval for Assurity MRI Pacemakers
Pacemakers Market Segmentation:
By Product
● Implantable
▪ Single Chamber
▪ Dual Chamber
▪ Biventricular
● External

By Region
● North America
● Europe
● Asia Pacific
● Latin America
● Rest of the World

FutureWise Key Takeaways:
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the pacemakers market by product, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies