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Global Overview:

Pacemakers are artificial medical instruments that are placed inside the chest. They produce electrical pulses to control abnormal heart rythms. These devices are adopted in case of heart-blockages, atrial fibrillation, arrhythmia, cardiac disorders, and long QT syndrome. Increasing arrhythmia cases coupled with the shortage of proper treatments have generated higher revenues for the global pacemakers market. In general, pacemakers are chosen to treat cardiovascular illnesses due to their ‘non-invasive’ features.

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Some of the key drivers of the pacemakers market comprise product innovations, research & development spending, and heart diseases worldwide. On the other hand, high ‘pacemaker’ prices hinder the market. Preference for ‘technologically-developed’ pacemakers, CRT-P (cardiac resynchronization therapy pacemakers), leadless devices, & implantable cardioverter defibrillators over traditional products has furthered industry prospects.

However, another factor that hampers the market is the presence of substitute therapies. These therapies are adopted in tachycardia, preventing the market from expanding further. Accessibility to reimbursements for pacemaker implantations lowers patients’ fiscal burden, propelling high adoption. Reimbursement plans are also accessible in different parts of the globe. Canada and the U.K. also have their share of reimbursement policies. The same is likely to drive market production till 2022.

Next-generation technologies; such as transitional tissue welding, pacemaking products, and microprocessor-regulators form the key industry trends. These technologies are rendering artificial pacemakers more effective, naturally mimicking the ‘heart-pace.’ The geriatric population globally constitutes the target customer. The elderly are susceptible to cardio vascular & other heart diseases. Hence, product demand is very high from this customer.

Moreover, poor food habits and excessive ‘junk-food’ consumption have contributed to ‘lifestyle’ illnesses. So, a growth in these illnesses has positively impacted the pacemakers market.

Players & Their Strategies:

Some of the renowned companies/participants investing in the global market are Boston Scientific Corporation, Medtronic, Sorin Group, Vitatron, and St. Jude Medical. These players often experiment in product advancements and regional expansion to gain incomes & traction. The leading company, ‘Medtronic’ has been able to occupy the highest shares due to its wide product range.

St. Jude Medical, on the contrary, generated more shares due to decent product supply across emerging nations. It takes marketing initiatives across emerging nations that experience unmet healthcare demands. Medical devices have been very lucrative for manufacturers. This trend has stemmed from increasing prices of healthcare services. For example, United States medical expenses are rising sharply, with a decline in the cost of pacemakers.

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The worldwide market witnesses huge rivalry among local companies and key producers. ‘Micra’ is a product developed by ‘Medtronic’ and accounted for one of the smallest & newest offerings. Different from majority of the pacemakers placed inside humans, they are directly implanted in the hearts. Micra is 93 percent smaller than regular pacemakers and is less-invasive. Apart from these, the product remains within the heart & prevents health complications. For many patients, Micra brings about lesser ‘post-implant’ limitations & health problems. Times are changing fast, with newer products coming to the fore and working miracles for heart patients.

Segmentation and Targeted Audiences:

The worldwide pacemakers market is split into applications, kinds, end-users, and geographies. Applications consist of bipolar, unipolar, and others. The kinds are dual chamber, single chamber, implantable, and external. By end users, the industry is fragmented into clinics, hospitals, ambulatory centers, cardiac research organizations, diagnostic centers, etc. Geographies under which the pacemakers market is categorized; include Europe, Americas, and Asia Pacific.

Targeted industry audiences also comprise pacemaker suppliers, pacemaker manufacturers, research laboratories, healthcare laboratories, colleges & academic institutes, market research & consulting, and pacemaker manufacturers. Higher demand for pacemakers from these audiences also translates into market growth.

Study Objectives Pacemaker Market:

To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the pacemaker market
To provide insights about factors affecting the market growth
To analyze the pacemaker market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segments by type, by application, end users and its sub-segments.
To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global pacemaker market.

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This release was published on openPR.