Portland, OR, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Pacemaker Market generated $4.66 billion in 2020, and is expected to reach $6.67 billion by 2030, witnessing a CAGR of 3.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.
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Rise in prevalence of cardiovascular diseases, technological advancements, demand for minimally invasive procedures, and development of healthcare infrastructure drive the growth of the global pacemaker market. However, risks and high cost related to procedures hinder the market growth. Contrarily, surge in R&D activities and advancements in technology present new opportunities in the coming years.
Covid-19 Scenario:
- The non-essential procedures were postponed due to shift in resources to take care of increasing number of patients suffering from the Covid-19 infection. This led to postponement of surgeries related to pacemakers. However, the surgeries were carried out in extreme cases.
- The R&D activities were stopped partially or completely as investments were locked to deal with the economic uncertainties. Moreover, the speed of technological advancements for pacemakers lowered down.
The report offers detailed segmentation of the global pacemaker market based on technology, implantability, end user, and region.
Based on technology, the dual-chamber pacemaker segment held the highest share in 2020, contributing to nearly half of the total share, and is estimated to continue its leadership status during the forecast period. However, the biventricular/CRT pacemaker segment is expected to register the largest CAGR of 5.5% from 2021 to 2030.
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Based on end user, the hospital & cardiac centers segment accounted for the largest share in 2020, contributing to more than four-fifths of the global pacemaker market, and is expected to continue its lead in terms of revenue throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 3.9% from 2021 to 2030. The research also analyzes the ambulatory surgical centers segment.
Based on region, Europe contributed to the highest market share in 2020, accounting for nearly half of the total share, and is estimated to maintain its dominance by 2030. However, Asia-Pacific is expected to witness the fastest CAGR of 4.1% during the forecast period.
Leading players of the global pacemaker market analyzed in the research include Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK, Livanova, Lepu Medical, Medtronic, MEDICO SpA, Osypka Medical GmbH, Oscor Inc., and Shree Pacetronix.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
