The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s pacemakers market report forecasts the pacemakers market size to grow to $6.16 Billion by 2027, with a CAGR (compound annual growth rate) of more than 4%.

Learn More On The Pacemakers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pacemakers-global-market-report

Pacemakers Market Size Forecast
The global pacemakers market is expected to grow from $4.89 billion in 2022 to $5.17 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pacemakers market size is expected to grow to $6.16 billion in 2027 at a CAGR of 4.5%.

North America held the largest pacemakers market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Pacemakers Market Driver ­– Increase In The Prevalence Of Cardiovascular Diseases
For instance, in 2021, according to the World Health Organization, a Switzerland-based government agency, India would account for one-fifth of the total deaths occurring from stroke and ischemic heart disease, mainly in younger adults. Additionally, according to the Center for Disease Control and prevention, an American national public health agency, approximately 697,000 people in the US died from heart disease in 2020 which converted to almost 1 in 5 deaths. Therefore, the increasing prevalence of cardiovascular diseases will drive the growth of the pacemaker market.

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Key Pacemakers Market Trend – Technological Advancement
Major companies operating in the pacemaker market are focused on developing new technological solutions to strengthen their position. For instance, in October 2020, Medtronic plc, an Ireland-based medical technology company, launched Azure pacemakers based on BlueSync technology in India. Azure pacemakers are India’s first pacemakers that communicate directly with patients’ smartphones and tablets. Azure is designed to accurately detect and reduce the likelihood of atrial fibrillation. It will offer improved longevity (up to 13.7 years), so patients could potentially need fewer device replacements and will allow patients to have MRI scans in either 1.5 or 3 Tesla (T) machines. This will enable automatic, secure wireless communication through Bluetooth Low Energy and remote monitoring through the Medtronic CareLink Network, providing more timely alerts of clinically relevant patient events that can be reviewed by a clinician at any time.

Pacemakers Market Segment
1) By Type: MRI Compatible Pacemaker, Conventional Pacemaker
2) By Technology: Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular or CRT Pacemaker
3) By Implantability: Implantable Pacemaker, External Pacemaker
4) By Application: Congestive Heart Failure, Arrhythmias, Bradycardia, Tachycardia
5) By End-User: Hospitals, Cardiac Care Centres, Ambulatory Surgical Centres, Other End Users

Pacemakers Market Major Players and Strategies
Major players in the pacemakers market are Boston Scientific Corporation, ZOLL Medical Corporation, Medtronic plc, Biotronik, MicroPort Scientific Corporation, Cook Medical, MEDICO SpA, Shree Pacetronix Ltd., Oscor Inc., Osypka Medical GmbH, Abbott Laboratories, LivaNova PLC, Lepu Medical Technology (Beijing) Co. Ltd., Cordis Inc., St. Jude Medical Inc., and Vitatron.

In January 2021, Boston Scientific, a US-based manufacturer of medical devices, acquired Preventice Solutions, Inc. for a deal amount of $925 million. The acquisition is expected to give Boston Scientific a foothold in the fast-growing ambulatory electrocardiography market, which will complement the company’s recent entry into the implantable cardiac monitor market and serve as a key component of its category leadership strategy in cardiac diagnostics and services. Preventice Solutions, Inc. is a US-based medical device company that provides mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry.

The Pacemakers Global Market Report 2023 covers regional data on pacemakers market size, pacemakers market trends and drivers, opportunities, strategies, and pacemakers market competitor analysis. The countries covered in the pacemakers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Pacemakers refer to small devices that are placed in the chest to help control the heartbeat. It is being used to prevent the heart from beating too slowly. The pacemaker is used to treat fainting spells, congestive heart failure, and hypertrophic cardiomyopathy.

View More Reports Related To The Pacemakers Market –
Cardiac Pacemakers Global Market Report 2023
Cardiac Rhythm Management (CRM) Devices And Equipment Global Market Report 2023
Cathode Materials Global Market Report 2023

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