Press release
Cardiac Pacemakers Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Medtronic plc, Lepu Medical Technology Co., Abbott Inc., Biotronik SE & Co. KG
Cardiac Pacemakers Market Characteristics
The Business Research Company offers in-depth market insights through Cardiac Pacemakers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cardiac pacemakers market size has grown strongly in recent years. It will grow from $4.58 billion in 2023 to $4.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to aging population and the prevalence of cardiovascular diseases, growing awareness of arrhythmias and the need for treatment, investment in research and development for pacemaker innovation, evolving healthcare infrastructure and access to medical devices, and regulatory approvals for novel pacemaker features and technologies..
The cardiac pacemakers market size is expected to see strong growth in the next few years. It will grow to $6.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to focus on lead durability and reduction of complications, remote programming and telehealth services for pacemaker patients, expansion of emerging markets and rising healthcare expenditure, enhanced battery technologies for longer pacemaker lifespans, and regulatory support for expedited pacemaker approvals.. Major trends in the forecast period include electrophysiology advancements for precision implantation, integration of pacemaker data into electronic health records (ehrs), integration of artificial intelligence (ai) for predictive pacemaker maintenance, advancements in pacemaker technology, including miniaturization, and telemedicine and remote monitoring.
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Market Segmentation:
The main types of cardiac pacemakers include implantable and external implantable cardiac pacemakers is a device that generates electrical impulses to maintain the heart rate and are installed inside the chest through surgery. The different cardiac pacemaker technologies include biventricular, single-chambered, and dual-chambered. The cardiac pacemaker applications include arrhythmias, heart blockage, atrial fibrillation, long QT syndrome, congestive cardiac failure, and other applications used by end-users including clinics and hospitals, ambulatory surgical centers, and cardiac care centers.
Major Driver - Cardiovascular Diseases Fueling Growth Of The Cardiac Pacemaker Market
An increase in cardiovascular diseases is significantly contributing to the growth of the cardiac pacemaker market. Cardiovascular disease (CVD) refers to disorders that affect the heart or blood vessels. These include arrhythmias, aorta disease, congenital heart disease, heart attack, and others. Cardiac pacemakers are electric activity-generating devices that are used to treat patients suffering from cardiovascular diseases. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. . Therefore, the rising incidence of cardiovascular diseases will drive the growth of the cardiac pacemaker market.
Competitive Landscape:
Major companies operating in the cardiac pacemakers market include Medtronic plc, Lepu Medical Technology Co., Abbott Inc., Biotronik SE & Co. KG, Boston Scientific Corporation, Oscor Inc., Osypca Medical GmbH, Zoll Medical Corporation, MicroPort Scientific Corporation, Cook Group Incorporated, Sorin Group, Vitatron & Medical Co., Cordis Inc., Shree Pacetronix Limited, Medico SpA, St. Jude Medical, LivaNova PLC, Schiller AG, BTL Industries Inc., CCC Medical Devices, Cardiostim, Advena Ltd., Mediana Co. Ltd., Vimecon GmbH, Cardiac Science Corporation, Greatbatch Medical, Galix Biomedical Instrumentation, Nanjing MicroPort Medical, A&E Medical Corporation, Cardionovum GmbH
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Top Trend - Pioneering Advances Innovations Transforming The Cardiac Pacemaker Market
New innovations are a key trend in the cardiac pacemaker market. Major players are making innovations like leadless cardiac pacemakers to cater to the cardiac pacemaker market in a better way. The leadless pacemaker is a self-contained generator and electrode system and is 90% smaller than a transvenous pacemaker implanted immediately into the right ventricle. There is no need for a chest incision or subcutaneous generator pocket because the device is placed via a femoral vein transcatheter technique is a minimally invasive technique to repair an inadequately opening narrowed aortic valve. For instance, in January 2022, Medtronic PLC., an Ireland-based medical devices company, introduced their leadless pacemaker Micra AV Transcatheter Pacing System (TPS). The Micra AV helps in patients' treatment with AV block when the electrical communication between the heart's ventricle and atria is compromised.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cardiac Pacemakers Market Characteristics
3. Cardiac Pacemakers Market Trends And Strategies
4. Cardiac Pacemakers Market - Macro Economic Scenario
5. Cardiac Pacemakers Market Size And Growth
…..
27. Cardiac Pacemakers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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