New York, Feb. 18, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization, around 17.9 Million people died from cardiovascular diseases (CVDs) in the year 2019. Additionally, the statistics also stated that in the same year, 38% of the 17 Million premature deaths due to noncommunicable diseases were caused by CVDs. On the other hand, according to the statistics by the Centers for Disease Control and Prevention (CDC), in the United States, 1 in every 4 deaths or close to 659000 people in the United States die from heart disease each year.
Kenneth Research has recently added a report on “Global External Pacemaker Market” which includes a detailed analysis of the key players operating in the market, along with their growth strategies and product portfolio. Moreover, the report also focuses on the latest market trends, along with the factors anticipated to drive the market growth during the forecast period, i.e., 2021-2028. Additionally, a brief analysis of the impact of COVID-19 on the growth of the market is also available in this report.
Cardiovascular diseases (CVDs), which represented 32% of all global deaths in the year 2019, are known to be one of the leading causes of death around the globe. In the United States alone, heart diseases had cost the nation around USD 363 Billion each year from 2016 to 2017, according to the statistics by the CDC. With the growing concern for such diseases, there is a growing need amongst individuals for early detection of the disease and also to treat the disease, which is anticipated to drive the demand for external pacemakers. The global external pacemaker market registered a revenue of USD 899.15 Million in the year 2018, is further expected to garner a revenue of USD 1809.94 Million by the end of 2028, by growing with a CAGR of 7.22% during the forecast period.
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The global external pacemaker market is segmented on the basis of region into North America, Europe (excluding Western Europe), Western Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 346.22 Million in the year 2018 and is further expected to reach USD 708.78 Million by the end of 2028. The market in the region is further segmented by country into the United States and Canada. Amongst the market in these countries, the market in the United States garnered the largest revenue in the year 2018 and is further projected to grow with the highest CAGR of 7.54% during the forecast period.
On the other hand, the external pacemaker market in Western Europe generated the second-largest revenue of USD 239.74 Million in the year 2018 and is further expected to touch a revenue of USD 472.50 Million by the end of 2028. The market in the region is further segmented by country into the United Kingdom, Germany, France, Italy, Spain, Denmark, Portugal, and the Rest of Western Europe. Amongst the market in these countries, the market in Germany registered the largest revenue of USD 67.44 Million in the year 2018 and is further expected to touch a revenue of USD 147.40 Million by the end of 2028. The market in the country is also anticipated to grow with the highest CAGR of 8.09% during the forecast period. Additionally, the market in the United Kingdom is projected to grow with the second-highest CAGR of 7.17% during the forecast period.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global external pacemaker market is further segmented by device into single chamber, dual chamber, and triple chamber. Amongst these segments, the dual chamber segment generated the largest revenue of USD 529.84 Million in the year 2018 and is further expected to generate a revenue of USD 1099.92 Million by the end of 2028. In North America, the segment is anticipated to garner the largest revenue of USD 418.18 Million by the end of 2028, up from a revenue of USD 198.94 Million in the year 2018. Meanwhile, in Western Europe, the segment is projected to generate the largest revenue of USD 278.30 Million by the end of 2028, up from a revenue of USD 137.83 Million in the year 2018. Moreover, in the United Kingdom, the segment generated the largest revenue of USD 28.39 Million in the year 2018 and is further expected to touch a revenue of USD 58.40 Million by the end of 2028. Additionally, in Germany, the segment is projected to generate the largest revenue of USD 87.08 Million by the end of 2028, up from a revenue of USD 38.86 Million in the year 2018.
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The global external pacemaker market is further segmented by end-user into hospitals, ambulatory surgical centers, and others. Out of these, the hospitals segment generated the largest revenue of USD 639.74 Million in the year 2018 and is further expected to touch USD 1276.54 Million by the end of 2028. In North America, the segment is anticipated to generate the largest revenue of USD 497.77 Million by the end of 2028, up from a revenue of USD 245.29 Million in the year 2018, whereas in the Asia Pacific, the segment generated the largest revenue of USD 142.77 Million in the year 2018 and is further projected to reach USD 308.06 Million by the end of 2028.
The global external pacemaker market is also segmented on the basis of product and distribution channel.
Global External Pacemaker Market, Segmentation by Product
- Pulse Generator Device
- Leads
Global External Pacemaker Market, Segmentation by Distribution Channel
- Online
- Offline
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Some of the prominent industry leaders in the global external pacemaker market that are included in our report are Biotronik SE & Co. KG, Medtronic PLC, Osypka Medical GmbH, Braile Biomedica, Boston Scientific Corporation, OSCOR Inc., Galix Biomedical Instrumentation, Shree Pacetronix Ltd., and others.
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