New York, NY, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cardiac Pacemaker Market by Product Type (External Pacemaker Devices and Implantable Pacemaker Devices), by Application (Arrhythmia, Atrial Fibrillation, Bradycardia, Tachycardia, and Others), by Technology (Single Chamber, Dual Chamber, and Biventricular), by End-User (Hospitals, Ambulatory Surgical Centers, and Cardiology Clinics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global cardiac pacemaker market was valued at approximately USD 4539 million in 2018 and is expected to generate around USD 7135 million by 2025, at a CAGR of around 7.0% between 2019 and 2025.
A pacemaker is a small device that keeps the heart beats regular and at the right pace along with helping to reduce the symptoms of slow heartbeats. It is an artificial device implanted underneath the chest skin that produces electrical pulses with low-energy to control the abnormal heart rhythm. Pacemakers are used in several medical conditions related to the heart and its rhythms, such as heart block, long QT syndrome (LQTS), arrhythmia, and atrial fibrillation. Pacemakers are one of the most preferred choices of treatments for cardiovascular disorders due to their non-invasive nature.
Browse through 55 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Cardiac Pacemaker Market Size & Share 2018: By Product, Technology, Industry Segments, Analysis and Forecast 2025”.
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The growing invasion of cardiovascular diseases together with the increasing awareness about the consequences of life-threatening diseases is estimated to drive the global pacemaker devices market over the estimated timeframe. The increasing prevalence of cardiovascular diseases across the globe is creating the demand for a solution that can deliver the services to improve the health of patients at a relatively lower and affordable cost. This is another factor that is likely to fuel the global cardiac pacemaker market in the future. However, the high cost of pacemakers may hinder the growth of the global pacemaker devices market in the future. Approximately 17.5 million people died from cardiovascular disorders in 2015, i.e., 31% of all the global deaths. Furthermore, the availability and access to reimbursement for the implantation of pacemakers will help in decreasing patients’ economic burden, which, in turn, is anticipated to further fuel the market prominently over the forecast time period.
By product type, the cardiac pacemaker market is segmented into external pacemaker devices and implantable pacemaker devices. The implantable pacemaker devices are expected to register the highest growth rate over the forecast time period, due to the technological advancements related to the product coupled with its ease and convenience to the patients. The application segment includes arrhythmia, atrial fibrillation, bradycardia, tachycardia, and others. Arrhythmia is estimated to show the highest CAGR over the forecast time period, owing to the rising prevalence of arrhythmia globally. By technology, the market is segmented into a single chamber, dual chamber, and biventricular. Biventricular technology is anticipated to exhibit the highest CAGR over the forecast time period. The biventricular is a special type of pacemaker that is attached to the atrium and right and left ventricles of the heart. Biventricular pacemaker device is also known as cardiac resynchronization therapy (CRT) and is used in cardiac resynchronization therapy. By end-user, the market is segmented into hospitals, ambulatory surgical centers, and cardiology clinics. Hospitals are estimated to dominate the global cardiac pacemaker market over the forecast time period.
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North America is projected to lead the global cardiac pacemaker market over the forecast period, owing to the well-established healthcare reforms, continuous extensive research activities, and rising adoption of pacemaker devices. At the country level, the U.S. dominates the North American cardiac pacemaker market and is expected to register the highest CAGR over the estimated timeline. This progress can be attributed to the increasing prevalence of cardiac disorders, growing disposable income, and rising research and development activities related to medical devices.
Europe is anticipated to emerge as the second largest regional market for cardiac pacemaker and is likely to show a noteworthy growth in the years to come. The increasing burden of chronic diseases in Europe is not only driven by growing geriatric population but the younger generations suffering from a wide range of chronic diseases, with cardiovascular diseases at the top position. This growth is mainly due to the growing number of cardiovascular diseases in the region, high R&D activities, and favorable government regulations and funding.
Browse the full “Cardiac Pacemaker Market by Product Type (External Pacemaker Devices and Implantable Pacemaker Devices), by Application (Arrhythmia, Atrial Fibrillation, Bradycardia, Tachycardia, and Others), by Technology (Single Chamber, Dual Chamber, and Biventricular), by End-User (Hospitals, Ambulatory Surgical Centers, and Cardiology Clinics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/cardiac-pacemaker-market
Asia Pacific is anticipated to witness manifested growth in the future. India, China, and Japan are anticipated to be the fastest growing countries in the region’s cardiac pacemaker market, owing to the increasing prevalence of cardiac diseases and rising disposable income of people to afford the treatment coupled with increasing government initiatives and funding to decrease the disease burden in the region.
Latin America is an imperative market for cardiac pacemaker that is anticipated to show moderate growth over the forecast time period. In the Middle Eastern and African region, the African countries are expected to record noticeable growth in the future, owing to the rising awareness among the population, developing economic status, and growing government funding for R&D activities.
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Some key players of the global cardiac pacemaker market are Medtronic PLC, ZOLL Medical Corporation, Vitatron, BIOTRONIK, Inc., St. Jude Medical, Boston Scientific Corporation, MEDICO S.p.A., Cordis, Inc., Abbott Laboratories, and Pacetronix, among others.
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Global Cardiac Pacemaker Market: Product Type Analysis
- External Pacemaker Devices
- Implantable Pacemaker Devices
Global Cardiac Pacemaker Market: Application Analysis
- Arrhythmia
- Atrial Fibrillation
- Bradycardia
- Tachycardia
- Others
Global Cardiac Pacemaker Market: Technology Analysis
- Single Chamber
- Dual Chamber
- Biventricular
Global Cardiac Pacemaker Market: End-User Analysis
- Hospitals
- Ambulatory Surgical Centers
- Cardiology Clinics
Global Cardiac Pacemaker Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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