The global external pacemaker market is anticipated to achieve a CAGR of 7.22% during the forecast period, i.e. 2021-2028
Research Nester has released a report titled “External Pacemaker Market– Global Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Heart Federation, in one its statistics stated that in the year 2019, over 18 million people suffered from cardiovascular disease globally. Moreover, the World Health Organization, in its other statistics, stated that Asia Pacific accounted for the highest number of deaths per 100,000 in the year 2019. It further stated that amongst all the nations in the region, China accounted for the greatest number of CVD deaths.
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The statistics portray the growing concern for the increasing number of cardiovascular diseases around the globe, which is also known to be the leading cause of death globally. Out of 4 of the 5 reasons for CVD deaths, is caused by strokes and heart attack. This is caused due to high blood cholesterol, physical inactivity, alcohol & tobacco consumption, unhealthy diet and diabetes. Further, it has also been reported that men had higher incidence of heart attacks in comparison to women. The Centers for Disease Control and prevention, in one of its statistics stated that an estimated 6 in 10 adults suffer from chronic diseases in the United States. The growing cases of CVDs can be attributed to the sedentary lifestyle, eating habits and various eternal factors, which has also contributed to the declining health of individuals globally. Such factors are anticipated to drive the growth of the global external pacemaker market.
The global external pacemaker market is anticipated to achieve a CAGR of 7.22% during the forecast period, i.e. 2021-2028. The market is thriving on account of rising disposable income, favorable reimbursement policies, rising market penetration of key players along with the consequent entry of products in the market and changing patient awareness regarding the early diagnosis of various chronic disorders. The market is anticipated to gain an incremental $ opportunity of USD 70.63 million in the year 2020 as compared to the previous year and is further expected to garner USD 1809.94 million by the end of 2028 from USD 899.15 million in the year 2018. Additionally, the market is expected to gain an absolute $ opportunity of USD 698.58 million during the forecast period.
The global external pacemaker market is segmented by product into pulse generator device and leads. Among these segments, the pulse generator device held the largest market share in the year 2018 and is anticipated to gain an absolute $ opportunity of USD 576.73 million during the forecast period and further gain an incremental $ opportunity of USD 58.77 million in the year 2020 as compared to the previous year. The segment is also further anticipated to cross a value of USD 1517.91 million by the end of 2028.
Geographically, the global external pacemaker market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, the market of North America held the largest market share of 38.56% in the year 2019. Further, the market in the region is also anticipated to gain an incremental $ opportunity of USD 27.82 million in the year 2020 as compared to the previous year and further reach a value of USD 708.78 million by the end of 2028 by growing at a CAGR of 7.41% during the forecast period.
This report also studies existing competitive scenario of some of the key players of the global external pacemaker market, which includes profiling of Biotronik SE & Co KG, Medtronic plc (NYSE: MDT), Osypka Medical GmbH, Braile Biomedica, Boston Scientific Corporation (NYSE: BSX), Oscor Inc., Galix Biomedical Instrumentation Inc. and Shree Pacetronix Ltd. (BOM: 527005).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “External Pacemaker Market – Global Demand Analysis & Opportunity Outlook 2028″, analyses the overall external pacemaker coatings industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global external pacemaker market in the near future.
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