Pacemaker Device Market Expected to Grow with Technological Advancements in the Coming Years

The pacemaker device is a highly beneficial instrument used by patients having heart related problems. It helps them regulate their heart rate and cure their cardiac ailments and improve optical cardiac capacity. Technological advancements have increased the types of pacemaker devices in the market and improved their demand exceptionally. A new report by MRRSE (Market Research Report Search Engine) titled ‘Pacemaker Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022’ unveils the direction of development in the global pacemaker device market, the segments of market and the factors driving the market.

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The Dynamics of the Global Pacemaker Device Market

Many elements of the health care industry have influenced the global pacemaker device market. A major driver of the global pacemaker market is the increasing rate of health related problems. Cardiac problems have been recognized as the major concern of the financially prosperous way of lifestyle adopted by people in the developed Western markets. This has prompted the government to bolster advancements and support for cardiac treatment gadgets, including pacemaker devices.

The Segmentation of the Global Pacemaker Device Market

This market is divided into two product types – external and implantable. Among these two types, implantable captured about 65% of the market and is predicted to dominate the market in the coming years as per the forecast report of 2017-2022. The implantable pacemaker device market is experiencing high demand mainly due to the development of the medical device sector. The implantable type is preferred more as it has proved to be more accurate and comfortable to the patients. This segment is predicted to be valued at US$ 3.5 Bn in 2017 and may rise to US$ 5.3 Bn by 2022 at a strong 8.3% CAGR.

On the basis of its end-use, the global pacemaker device market is segmented as ambulatory surgical centers, hospitals and cardiac clinics among which hospitals remain the dominant segment with a large number of people admitted as patients in the hospitals.

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The regional segmentation has North America as the most dominant segment and is expected to represent 36.0% of the global pacemaker device market by 2022. Europe is another player in the race that accounts for almost a quarter of the market even after a drop in the valuation during the forecast period of 2017-2022.

Competitive Dynamics of the Global Pacemaker Device Market

The top companies in the global pacemaker device market are Oscor Inc., Biotronik SE & Co. KG, Zoll Medical Corporation, Boston Scientific Corporation, Pacetronix Limited, Abbott Laboratories etc.

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