According to a recently published report by Research Nester on “Cardiac Pacemaker Market: Global Demand Analysis Opportunity Outlook 2027” delivers detailed overview of the cardiac pacemaker’s market in terms of market segmentation by product, by technology, by region and by end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The cardiac pacemakers market covers the segments on basis of product, technology, region and end user. Primarily, pacemakers can be classified product wise into two types as External and Implantable, secondly on the basis of technology into three types as Single Chamber, Dual Chamber and Biventricular, thirdly on the basis of region, they can be classified into five (5) main regions being North America, Europe, Asia Pacific, Latin America and Middle East and Africa and finally on the basis of end user segment that covers hospitals, cardiac centre and clinics and ambulatory surgical centres. The market is expected to record a CAGR hovering around 7% during the forecast period i.e. 2019-2027.
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Some of the factors that are the driving forces behind the sudden spurt of growth in this market can be attributed to growing ageing population and increasing prevalence of cardiovascular diseases owing to adoption of sedentary lifestyles and unhealthy food habits.
The cardiac pacemakers market has been categorized and split into five (5) regions accordingly that comprises of North America, Europe, Asia Pacific, Latin America and Middle East Africa. North America has registered the largest growth (in terms of value) as compared to the other nations and it holds at least 60% of the total market share owing to robust healthcare infrastructure and increasing number of cardiovascular diseases reported on a yearly basis.
Growing Ageing Population
The sudden incline in the growth of ageing population over the past two decades had led to rising number of deaths due to the occurrence of cardiovascular diseases. Ageing has the potential to cause progressive decline in physiological processes and increases risk of developing health related complications and CVDs that include atherosclerosis, hypertension, myocardial infarction, and stroke.
Adoption of Sedentary Lifestyles and unhealthy food habits
With changing lifestyles and adoption of unhealthy food habits, there has been a sudden surge in the number of individuals affected by CVDs. This has opened a window of opportunities for organizations from all over the world to invest in RD for the purpose of finding a cure for CVDs.
W.H.O. has reported a whopping 17.9 million deaths that have occurred from CVDs during the year 2016. World Health Organization has claimed that cardiovascular diseases are the primary causes of death globally, as more people die from CVDs annually than any other cause.
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This has compelled governments from all over the world to take note of the ramifications posed by occurrence of CVDs in individual lives and various organizations have invested heavily to work on the cure that would be required to not only save lives, but also help the individuals suffering from CVDs to lead an active healthy life.
However, high costs and lack of alternatives, side effects associated with the usage of drugs or treatment as applicable, lack of skilled health care professionals may impair the growth of cardiac pacemaker market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the cardiac pacemaker market which includes company profiling of Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Biotronik Inc., LivaNova PLC, Oscor Inc, Pacetronix, Medico S.p.A. (Italy), Osypka Medical Inc, Lepu Medical etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the cardiac pacemaker market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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