Kenneth Research, in its repository of market research reports, have recently added a report on Cardiac Pacemaker Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
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 Cardiac Pacemaker Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Cardiac Pacemaker Market was valued at USD 6.2 Billion in the year 2017. Global Cardiac Pacemaker Market is further estimated to grow at a CAGR of 7.4 % from 2019 to reach USD 10.89 Billion by the year 2025. North America region holds the highest Market share in 2017 and Europe is considered as the fastest growing Market in the forecasted period. At a country level, developed Markets the U.S. holds a substantial Market share in 2017 and it is projected to grow at a gradual pace in the coming years.
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Major market players in Cardiac Pacemaker Market are St. Jude Medical Inc., Zoll Medical Corp, Medtronic, Boston Scientific Corp, Medico S.p.A., Vitatron, Pacetronix, Cordis Inc., SORIN S.p.A., Edwards Life science, and brief information of 10 companies will be provided in the report. Rising research and development expenses to address the changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
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SWOT Analysis of Cardiac Pacemaker Market:
Strength:
Growing number of cardiac diseases patients
Rising geriatric populations
Weakness:
The high cost of devices
A gap between demand and supply for devices
Opportunities:
Investments Opportunities in emerging economies
Threats:
The global Cardiac Pacemaker Market is segmented on the basis of technology, by product and by region. On the basis of technology, the Market is segmented as Biventricular, Single Chambered and Dual Chambered of which Biventricular segment is expected to hold the highest Market share during the forecast period.
Cardiac Pacemaker Market Segmentation:
By Product
*Implantable Cardiac Pacemaker
*External Cardiac Pacemaker
By Technology
*Biventricular
*Single Chambered
*Dual Chambered
By Region
*North America
o USA
o Canada
*Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
*APAC
o China
o India
o Japan
o Rest of Asia-Pacific
*RoW
o Latin America
o Middle East & Africa
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