Market Research Report
Pacemaker Market Size, Share & Trends Analysis Report By Product (Implantable Pacemakers, External Pacemakers), By Type, By Application, By End Use (Hospitals & Cardiac Centers, Ambulatory Surgical Centers), And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||959558|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Pacemaker Market Size, Share & Trends Analysis Report By Product (Implantable Pacemakers, External Pacemakers), By Type, By Application, By End Use (Hospitals & Cardiac Centers, Ambulatory Surgical Centers), And Segment Forecasts, 2020 - 2027|
|Published: August 7, 2020||Content info: 150 Pages||
Market Growth & Trends
The global pacemaker market size is anticipated to reach USD 5.8 billion by 2027, expanding at a CAGR of 2.9%, as per the new report by Grand View Research, Inc. The increasing prevalence of cardiovascular diseases is a key growth driver for the market. As per the CDC, in 2017, CVDs accounted for about 800,000 deaths in the U.S alone. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure.
As per the British Heart Foundation Centre in 2018, nearly 7.4 million individuals are living with circulatory and heart diseases in the UK. More than 43,000 individual under 75 years of age dies due to cardiac diseases every year in the UK. To curb the rising prevalence of CVDs is government bodies and key market players are channelizing revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.
As per the CDC, 2020, more than 15.0% of U.S. adults are physically inactive that shows the prevalence of adult physical inactivity. Technological developments are quickly renovating the market. Key players are focusing on expanding their current portfolio such as in January 2020, BIOTRONIK launched an injectable cardiac monitor, BIOMONITOR III in Japan. It is intended to measure irregular heart rhythms with increased clarity. The injectable cardiac monitor also documents the unexplained syncope. Moreover, in January 2019, Medtronic launched MyCareLink Heart (TM)-a mobile app for communicating directly with patients via smartphones.