The global pacemakers market size is expected to reach US$ 10,908.0 Mn by 2026 from US$ 5,485.4 in 2018. The market is estimated to grow with a CAGR of 8% from 2019-2026.
Driving factors such as, increasing burden of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements, and large pool of geriatric population. Additionally, the future trends such as product innovations is likely to increase the growth of the pacemakers market in the forecasted period.
In developed and maturing markets, major pacemakers companies are seeking for market growth by developing novel products. Growing demand for high quality healthcare services and products poses a need for rapid product innovations. Hence, over the years, companies are developing new products in order to meet the rising healthcare needs.
For instance, in May 2018, LivaNova initiated a clinical study of its Vitaria neuromodulation implant for treating heart failure. The Vitaria System includes an implantable pulse generator, vagus nerve lead, programming system and patient kit that delivers autonomic regulation therapy that promotes improvements in heart function. Also, the Medtronic in May 2018, announced a clinical study for its newly developed Micra Transcatheter Pacing System with a novel mechanical sensor. The novel mechanical sensor allows patients to benefit from a miniaturized leadless pacemaker.
Furthermore, researchers are studying the use of implantable devices for visual loss and developing innovative retinal implants for people with retinal diseases such as retinitis pigmentosa (RP) or age-related macular degeneration (AMD). Thus, the above advancements and owing to growing product innovations is expected to fuel the future growth of this market.
The report analyzes and forecasts the pacemakers market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global pacemakers market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the pacemakers market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of pacemakers market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Few of the notable industry players operating in global pacemaker market are BIOTRONIK, Boston Scientific, Pacetronix, Medtronic, Abbott, OSCOR Inc., among others. Players have been engaging in product launch strategies, mergers & acquisitions and collaborations in order to expand their product portfolio and gain competitive advantage.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
In November 2017, Medtronic announced the FDA approval of pacemakers Azure S MRI, Azure XT MRI for the patients diagnosed with bradycardia. With the product’s launch in the U.S., it is anticipated that the clinicians now have devices that would detect and reduce atrial fibrillation along with improved longevity.
In March 2014, BIOTRONIK received CE mark for its Eluna pacemakers that is MRI compatible and has both single and dual chamber pacemakers along with cardiac resynchronization devices
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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