Because Of The Rise In Cardiovascular Diseases, The Cardiac Pacemakers Market Is Set To Grow At A Rate Greater Than 3% As Per The Business Research Company’s Cardiac Pacemakers Global Market Report 2022
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According to The Business Research Company’s research on the cardiac pacemakers market, an increase in cardiovascular diseases is significantly contributing to the growth of the cardiac pacemaker market. Cardiovascular disease (CVD) refers to disorders that affect the heart or blood vessels. These include arrhythmias, aorta disease, congenital heart disease, heart attack, and others. Cardiac pacemakers are electric activity-generating devices that are used to treat patients suffering from cardiovascular diseases. According to World Health Organization statistics and the United Nations health organization, in 2019, 17.9 million people died from CVDs, accounting for 32% of all global deaths. Therefore, the rising incidence of cardiovascular diseases will drive the growth of cardiac pacemakers market.
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The global cardiac pacemakers market is expected to grow from $4.03 billion in 2021 to $4.26 billion in 2022 at a compound annual growth rate (CAGR) of 5.63%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The cardiac pacemakers market share is expected to grow to $4.91 billion in 2026 at a compound annual growth rate (CAGR) of 3.62%.
New innovations are a key trend in the cardiac pacemaker market. Major players are making innovations like leadless cardiac pacemakers to cater to the cardiac pacemaker market in a better way. The leadless pacemaker is a self-contained generator and electrode system and is 90% smaller than a transvenous pacemaker implanted immediately into the right ventricle. There is no need for a chest incision or subcutaneous generator pocket because the device is placed via a femoral vein transcatheter technique is a minimally invasive technique to repair an inadequately opening narrowed aortic valve. For instance, in January 2022, Medtronic Plc, an Ireland-based medical devices company, introduced their leadless pacemaker Micra AV Transcatheter Pacing System (TPS). The Micra AV helps in patients’ treatment with AV block when the electrical communication between the heart’s ventricle and atria is compromised.
Major players in the cardiac pacemakers market are Medtronic Plc, Lepu Medical Technology Co, Abbott Inc, Biotronik SE & Co KG, Boston Scientific Corporation, LivaNova PLC, Medico SRL, Osypka AG, Oscor Inc, MicroPort Scientific Corporation, Pacetronix, Zoll Medical Corporation, Cook Medical, Vitatron, St Jude Medical Inc and Cordis corporation.
The global cardiac pacemakers market is segmented by type into implantable, external; by technology into biventricular, single chambered, dual chambered; by application into arrhythmias, heart blockage, atrial fibrillation, long QT syndrome, congestive cardiac failure, other applications; by end user: clinics and hospitals, ambulatory surgical centers, cardiac care centers.
North America was the largest region in the cardiac pacemakers market in 2021. Asia–Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac pacemakers market overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Cardiac Pacemakers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide cardiac pacemakers market forecast size and growth, cardiac pacemakers market segments, cardiac pacemakers market trends, cardiac pacemakers market drivers and restraints, cardiac pacemakers market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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