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Bradycardia Treatment Devices Market Share, Trends, Analysis And Forecast To 2033
Bradycardia Treatment Devices Market Share
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According to The Business Research Company's, The bradycardia treatment devices market size has grown strongly in recent years. It will grow from $8.09 billion in 2023 to $8.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the rising prevalence of cardiovascular diseases, growth in the elderly population, increasing awareness and screening programs, regulatory approvals and launches, and increasing healthcare expenditure.
The bradycardia treatment devices market size is expected to see strong growth in the next few years. It will grow to $10.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing healthcare infrastructure, governments, and private sectors investing more in healthcare infrastructure, continued efforts to raise awareness and implement preventive measures for cardiovascular health, economic growth, increasing disposable income, and streamlined regulatory processes and approvals for new devices. Major trends in the forecast period include growth in telemedicine and remote monitoring technologies, advances in personalized medicine, advancement in leadless pacemakers, integration of AI and machine learning, use of advanced biocompatible materials, and integration of telehealth services.
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Market Drivers and Trends:
The rising prevalence of cardiovascular disease is expected to propel the growth of the bradycardia treatment devices market going forward. Cardiovascular disease refers to conditions affecting the heart and blood vessels, including coronary artery disease, stroke, and heart failure. The increasing prevalence of cardiovascular disease can be attributed to factors such as sedentary lifestyles, poor diets, smoking, and aging populations. Bradycardia treatment devices, such as pacemakers, are used to regulate heart rhythm and maintain an adequate heart rate in patients with cardiac disorders. For instance, in June 2023, according to the Immigration and Checkpoints Authority, a Singapore-based government agency, the number of deaths caused by heart and hypertensive diseases reached 6,884, an increase of 10.35% in 2022 compared to 6,238 deaths recorded in 2021. Therefore, the rising prevalence of cardiovascular disease will drive the growth of the bradycardia treatment devices market.
Major companies operating in bradycardia treatment devices are focused on developing advanced solutions, such as leadless pacemakers, to improve patient outcomes and reduce procedural complications. Leadless pacemakers refer to the small, self-contained devices implanted directly into the heart without the use of leads, offering a minimally invasive option for controlling heart rhythm. For instance, in July 2023, Abbott Laboratories, a US-based medical device manufacturing company, received US Food and Drug Administration (FDA) approval for the AVEIR dual chamber (DR) leadless pacemaker system. It is a dual-chamber leadless pacing system that treats people with abnormal or slow heart rhythms. It offers synchronized or coordinated cardiac pacing between two leadless pacemakers, tailored to meet the individual's clinical requirements.
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Major Key Players of the Market:
Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Boston Scientific Corporation, Zoll Medical Corporation, Biotronik Medical Devices India Private Limited, Lepu Medical Technology Co. Ltd., Integer Holdings Corporation, Nihon Kohden India Pvt. Ltd., Livanova India Private Limited, Microport Scientific India Private Limited, Fukuda Denshi Co. Ltd., Trivitron Healthcare Private Limited, Sorin Group, Physio-Control Inc., OSCOR Inc., Medico S.R.L., Amaryllis Healthcare Pvt. Ltd., Inorbvict Healthcare India Private Limited, Kox Med And Lab Private Limited, Nasan Medical Electronics Pvt Ltd, Osypka Medical Asia Co Ltd., Shree Pacetronix Limited, Medinnova Systems Pvt. Ltd.
Bradycardia Treatment Devices Market 2024 Key Insights:
• The bradycardia treatment devices market size is expected to see strong growth in the next few years. It will grow to $10.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Impact Of Cardiovascular Disease Prevalence On The Bradycardia Treatment Devices Market
• Advancements In Bradycardia Treatment With Leadless Pacemaker Systems
• North America was the largest region in the bradycardia treatment devices market in 2023
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Bradycardia, which is a condition pertaining to slow heart rate, affects from the very young to the oldest, although geriatrics are mostly diagnosed for this heart-beat irregularity. It has been estimated that nearly 600,000 people across the world receive treatment for bradycardia, commonly caused by a problem with the S-A node or an issue in the electrical pathways of the heart.
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Bradycardia, which is a condition pertaining to slow heart rate, affects from the very young to the oldest, although geriatrics are mostly diagnosed for this heart-beat irregularity. It has been estimated that nearly 600,000 people across the world receive treatment for bradycardia, commonly caused by a problem with the S-A node or an issue in the electrical pathways of the heart.
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