New York, United States, June 13, 2024 (GLOBE NEWSWIRE) -- The Global External Pacemaker Market Size is to Grow from USD 1.76 Billion in 2023 to USD 2.46 Billion by 2033, at a CAGR of 3.41% during the projected period.
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An external pacemaker is a medical device used to control the heart's rhythm and rate by stimulating it with electrical impulses. The heart can be electrically stimulated using these non-invasive devices as needed. Adhesive electrode patches are commonly used to attach them to the skin's surface. The rise of heart-related disorders as a global public health emergency can be attributed to numerous risk factors, including a sedentary lifestyle, high blood pressure, stress, and diabetes. The sharp increase in CVD-related mortality indicates the urgent need for effective preventative, diagnostic, and therapeutic techniques. There is a growing need for effective cardiac rhythm treatment methods due to the rise of individuals with heart blockages and arrhythmias. While waiting for more permanent treatment options like surgery or implanted devices, patients can obtain non-invasive and temporary heartbeat regulation via external pacemakers, which serve as a lifesaver. However, one of the main obstacles facing the external pacemaker companies is the high cost of complex devices. Potential problems that could come up after surgery to implant devices could also cause challenges and increase medical costs. These factors may limit market growth and accessibility for particular patient populations.
Browse key industry insights spread across 250 pages with 120 Market data tables and figures & charts from the report on the " Global External Pacemaker Market Size, Share, and COVID-19 Impact Analysis, By Product (Single Chamber and Dual Chamber), By Application (Bradycardia and Acute Myocardial Infarction), By End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The dual chamber segment influences the market with the largest revenue share through the forecast period.
Based on the product, the global external pacemaker market is segmented into single chamber and dual chamber. Among these, the dual chamber segment influences the market with the largest revenue share through the forecast period. There is hope that dual-chamber external pacemakers may significantly help the increasing number of patients suffering from atrioventricular block. The right ventricle and right atrium store the two leads of these devices.
The bradycardia segment influences the global external pacemaker market during the forecast period.
Based on the application, the global external pacemaker market is segmented into bradycardia and acute myocardial infarction. Among these, the bradycardia segment influences the global external pacemaker market during the forecast period. The main reason for this is the increasing frequency of recurrent arrhythmias, which can be attributed to various factors such as aging populations, lifestyle-related risk factors, and underlying heart disorders.
The hospitals segment influences the global external pacemaker market during the forecast period.
Based on the end user, the global external pacemaker market is segmented into hospitals, ambulatory surgical centers, and others. Among these, the hospitals segment influences the global external pacemaker market during the forecast period. The diagnosis, treatment, and management of cardiovascular illnesses requiring cardiac rhythm regulation are largely handled in hospitals, which makes a substantial contribution to the external pacemaker market.
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North America dominates the market with the highest market share during the forecast period.
North America dominates the market with the highest market share during the forecast period. North America retained the biggest market share due to a variety of factors, including an aging population, an increasing rate of heart disease, the existence of significant industry players in the region, and a highly established healthcare system. It improved the knowledge of stakeholders in healthcare and the general public about the present state of technology. Moreover, it is expected that several medical device manufacturers involved in the research and development of adapting external pacemakers will bolster the expansion of the local market.
The Asia-Pacific region is expected to accelerate during the forecast period. The market is expected to rise due to a number of contributing reasons, such as sedentary lifestyles, poor eating habits, and an aging population that boosts the need for effective treatment alternatives like external pacemakers and increases the prevalence of CVD. The market in the area is also expanding as a result of better healthcare infrastructure, increased disposable income, and easier access to medical services.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global external pacemaker market are Medtronic, OSYPKA MEDICAL, Fluke, Avery Biomedical Devices, Inc., Lepu Medical Technology (Beijing) Co., Ltd., Boston Scientific Corporation, Pacetronix.com, OSCOR Inc., Abbott, BIOTRONIK, Cook Medical, Reka Health Pte Ltd, ZOLL Medical Corporation, Spacelabs Healthcare, and Other Key Players.
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Recent Developments
- In July 2023, Abbott has approved the AVEIR dual chamber (DR) pacemaker device with the US FDA. This system is the world’s first pacing system that treats people with moderate or abnormal heart rates. The novel sanctioned device is a non-surgical approach to speed abnormal heart rate.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global external pacemaker market based on the below-mentioned segments:
Global External Pacemaker Market, By Product
- Single Chamber
- Dual Chamber
Global External Pacemaker Market, By Application
- Bradycardia
- Acute Myocardial Infarction
Global External Pacemaker Market, By End-User
- Hospitals
- Ambulatory Surgical Centers
- Others
Global External Pacemaker Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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