Pacemaker Market 2021 Opportunities, Size, Share, Emerging Trends, Technological Innovation, And Forecasts 2030

In a recent published report, Kenneth Research has updated the market report for Pacemaker Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pacemaker Market products.

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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Global Pacemaker Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024
Overview: A pacemaker is a device used for the regulation of uneven heartbeat. The average rate at which the heart beats is between 60 and 100 per minute. At rest, the heart beats as slow as 40 times a minute, and it beats as fast as 200 times while exercising. Nevertheless, an individual can experience weakness, dizziness, and fainting during slow heartbeats. Ancient cardiac pacemaker devices commonly comprise a hypodermal pulse generator that is placed on the walls of the chest, and transvenous pacing leads are fixed to the myocardial tissue. The primary difficulty associated with these devices is the lead placement as they are weak links in the pacemaker systems. Pneumothorax, trouble in gaining upper extreme venous admittance, and formation of hematoma are few other problems faced. In recent years, small leadless pacemakers have emerged with the capability to reduce these complications associated with the procedure.

Growing aging population, increasing prevalence of cardiovascular diseases, and good reimbursement facilities are few of the factors driving the pacemaker market growth. Increase in healthcare spending, use of electronic health records for monitoring outcomes of pacemakers, and increase in the number of outpatient procedures are providing an opportunity for the growth of the market. However, side effects of pacemakers, alternatives for pacemakers, lack of skilled healthcare professionals, and stringent regulatory approval process will hamper the growth.

Market Analysis: The “Global Pacemaker” market is estimated to witness a CAGR of 7.8% during the forecast period 2018–2024. The pacemaker market is analyzed based on four segments – products, technologies, end-users, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the pacemaker market, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by North America, with the US being the major contributor to the market growth.

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Product Analysis: Based on products, the market is segmented into internal pacemakers and external pacemakers. The usage of internal pacemakers is extensive when compared to the external pacemakers, which makes it the largest segment in the global pacemaker market.

Technology Analysis: Based on the technology, the market is segmented into single-chambered, dual-chambered, and biventricular pacemakers. Cardiologists generally recommend the use of single chamber or dual chamber pacemakers bestowing to the medicinal requirement of the patient.
End-user Analysis: Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and cardiac clinics. The hospitals dominated the market in 2017 due to the good reimbursement facilities and availability of skilled professionals.

Key Players: Abbott Laboratories, Inc. (St. Jude Medical, Inc.), BIOTRONIK SE & Co. KG, Medtronic, Boston Scientific Corporation, and MicroPort are the key players of the market. Lepu Medical Technology Co. Ltd., Medico, S.p.A, Osypka Medical GmbH, Sree Pacetronix Ltd., and SORIN Group are the other predominate players in the market.

Competitive Analysis: New product development, geographical expansion, collaboration, mergers & acquisitions, and pricing strategies are vital for players in this space. For instance, in May 2018, MicroPort, a Chinese company acquired the cardiac rhythm management segment of the LivaNova company, which has made MicroPort a prominent player in the market. In January 2017, one of the major players in the market, St. Jude Medical was acquired by Abbott Laboratories for a total of $25 billion. This acquisition has strengthened the Abbott’s position in the cardiovascular segment and increased its market share. The convenience of reimbursement for the pacemaker implantation treatment has lessened the monetary load on patients, thus prompting the procedure rate of such devices. For example, a single chamber pacemaker device costs nearly $10,000, and almost $7,500 is compensated under the US Medicare plan. Reimbursement settlement plans are available in most of the regions, particularly in developed nations such as the UK, the US, and Canada.

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Benefits: The report provides complete details about the usage and adoption rate of pacemakers in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives the complete information about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals before investing in this market.

Table of Contents
1 Industry Outlook
1.1 Industry Overview
1.2 Patient Demography
1.3 Healthcare Spending in the US
1.4 Total Addressable Market
1.4.1 Cardiac Rhythm Management (CRM)
1.5 Industry Trends
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Market Definition – Infoholic Research
3.2 Segmented Addressable Market
3.3 Industry Trends
3.4 Related Markets
3.4.1 Cardiovascular Drugs Trends of cardiovascular drugs market
3.4.2 Aortic Aneurysm Trends of Aortic Aneurysm Market
3.4.3 Coronary Stents Market Trends of Coronary Stents Market
3.4.4 Cardiovascular Diagnostics
4 Market Outlook
4.1 Reimbursement Scenario
4.2 Market Segmentation
4.3 Porter 5(Five) Forces
4.4 PEST Analysis
5 Market Characteristics
5.1 Market Dynamics
5.1.1 Drivers Increasing prevalence of cardiovascular diseases Increasing Aging Population Good Reimbursement Facilities
5.1.2 Opportunities Increase in healthcare spending Use of Electronic Health Records for Monitoring Outcomes of The Pacemake Increase in the number of outpatient procedures
5.1.3 Restraints Side Effects of Pacemakers Alternative for Pacemakers Lack of skilled healthcare professionals Stringent Regulatory Approval Process
5.2 DRO – Impact Analysis
5.3 Key Stakeholders
6 Product: Market Size and Analysis
6.1 Overview
6.2 External Pacemakers
6.3 Internal Pacemaker
7 Technology: Market Size and Analysis
7.1 Overview

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