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Cardiac Pacemaker Market 2023: Growth Factors, Opportunities, Ongoing Trends and Key Players 2033
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Persistence Market Research (PMR) delivers key insights on the global cardiac pacemaker market in its upcoming report titled, "Cardiac Pacemaker Market: Global Industry Analysis and Forecast, 2016-2024". The global cardiac pacemaker market was valued at US$ 4,100.0 Mn in 2015 and this is likely to decline to US$ 3923.8 Mn by 2024. In terms of revenue, the global cardiac pacemaker market is anticipated to exhibit a declining CAGR of -0.5% over the forecast period owing to various factors, on which PMR offers detailed insights and forecasts.
Global cardiac pacemaker market dynamics
A key unmet need in global cardiac pacemaker market is the lack of a 100% safe and efficient pacemaker device to treat arrhythmias. There is an imperative need for development of cost-effective and rapid diagnostic methods for arrhythmias with a growing geriatric population and increasing patient pool with escalating global demand for treatment.
This is anticipated to offer lucrative opportunities to new players in the global cardiac pacemaker market. Various key players in the cardiac pacemaker market are signing partnerships and licensing deals to share the research and development platform. In 2014, Medtronic has signed a deal with Lifetech Scientific to bring pacemaker into the Chinese market. According to the agreement, Lifetech Scientific shall manufacture pacemaker at their facility and Medtronic's would provide with technology and required training.
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Global cardiac pacemaker market forecast
The market is segmented based on product type, end users, and regions. Based on product type, the market is segmented into implantable pacemaker and external pacemaker. Both the segments are expected to exhibit a negative CAGR for the forecast period, owing to increasing number of device recall related to device malfunctioning. The implantable pacemaker segment is expected to exhibit a declining CAGR of -0.5% and external pacemaker segment is expected to exhibit a declining CAGR of -1.0% during the forecast period.
Based on end users, the market is segmented into hospitals and ambulatory surgical centers. The hospitals segment is anticipated to account for the highest market share over the forecast period exhibiting a declining CAGR of -0.1% due to better reimbursement rates offered by government and non-government bodies.
This report assesses trends, that drive growth of each segment on the global as well as regional levels, and offers potential takeaways, that could prove substantially useful to medical device manufacturing companies who wish to enter into the global cardiac pacemaker market. North America and Europe are expected to lose market share in terms of revenue generation.
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Key Questions Answered in This Report.
What are the Roadblocks for Cardiac Pacemaker Market Suppliers?
What are the Key Opportunities for Cardiac Pacemaker Market Manufacturers?
How is Focus on Safety Influencing Cardiac Pacemaker Market Demand?
What is the Regulatory Impact on Global Sales of Cardiac Pacemaker Market?
Which Region Offers the Largest Opportunity for Sales of Cardiac Pacemaker Market?
Where Does the U.S. Stand in the Market for Cardiac Pacemaker Market?
What Is the Outlook for Cardiac Pacemaker Market Manufacturers in China?
Why is Germany a Lucrative Market for Cardiac Pacemaker Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Cardiac Pacemaker Market?
Why is There High Demand for Tires in Cardiac Pacemaker Market?
Why are Sales of Cardiac Pacemaker Market Surging?
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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