Pacemaker Market Expected to Reach $6.678 Billion by 2030 | Top Companies and Industry Growth Insights

Pacemaker market size was valued at $4.667 billion in 2020, and is estimated to reach $6.678 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030. Pacemaker is defined as a small, battery-operated medical device, which is implanted in the chest to control the heartbeats.

The implantation of pacemaker is used to prevent the heart from slow or irregular beating. It generates electrical impulses, which are delivered by electrodes to contract chambers of heart muscles. The pacemaker aims to regulate the function of the electrical conduction system of the heart. The pacemaker is implanted in the chest through a surgical procedure. It is used for the treatment of chronic irregular, or slow heartbeat, and heart failure. It offers real opportunities to improve medical outcomes and enhance efficiency.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/1455

The factors that drive the growth of the pacemaker market include rise in prevalence of cardiovascular diseases such as heart failure, heart attack, bradycardia, atrioventricular (AV) block, and arrhythmia; increase in incidence of hypertension; development of the healthcare sector, and surge in demand for minimally invasive surgical procedure. For instance, according to the American Heart Association, more than 100 million Americans were suffering from hypertension in 2018. Hypertension is one of the most common cardiovascular risk factors, which cause cardiac arrhythmias. Hypertensive patients are highly prone to supraventricular and ventricular arrhythmias. Market players are focusing on the development of novel approaches for use of pacemaker devices. Moreover, in 2020, Medtronic, Plc., a medical device company, announced that it has received the U.S. Food and Drug Administrative (FDA), approval of Micra AV, which is the world smallest pacemaker with AV synchrony. It is used for the treatment of a patient suffering from AV block. Furthermore, in 2020, Medtronic, a pacemaker company, announced the launch of an Azure pacemaker with the Bluesync technology, which is used for direct communication of doctors with patients through smartphone and tablets.

Increase in prevalence of cardiovascular diseases, rise in demand for advanced pacemaker devices in the healthcare sector, and surge in geriatric population are anticipated to drive the growth of the pacemaker market. In addition, surge in demand to improve patient health has led to the development of innovative technologies in the pacemaker, thereby propelling the growth of the market.

Moreover, initiatives taken by governments for development of the information technology sector are the key factors that boost growth of the market. Furthermore, increase in the cost of cardiac disease management and surge in the number of funding for various R&D activities propel the growth of the market. In addition, rise in demand for advanced biologic pacemaker devices in healthcare to enhance efficiency fuels the market growth.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/1455

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

• By technology, the dual chamber pacemaker segment was the highest contributor to the market in 2020.
• On the basis of implantability, the implantable pacemaker segment was the highest contributor to the market in 2020.
• Depending on end user, the hospitals & cardiac centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Region wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Electrotherapy Market -- https://www.alliedmarketresearch.com/electrotherapy-market-A15398

Laser Resurfacing Market -- https://www.alliedmarketresearch.com/laser-resurfacing-market-A14827

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