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Cardiac Pacemakers Market Worth USD 5,199.7 Million at 3.0% CAGR Forecast 2026

June 26, 2019 | Healthcare

The Global Cardiac Pacemakers Market will derive growth from high clinical efficacy of the products, towards detecting heart failures and cardiac arrests. According to a report published by Fortune Business Insights, titled “Cardiac Pacemakers: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at USD 4,046.9 Million in 2018. Fortune Business Insights has predicted that the market will reach  USD 5,199.7 Million Mn by the end of 2026, thereby exhibiting a CAGR of 3.0%.


Pacemakers are devices that are integrated with patient heartbeat monitors, aimed specifically to detect cardiac arrests and other heart-related disorders. Cardiac pacemakers are used to provide physiological heart rate and analyze heart conditions, depending upon the severity of the disorder. High prevalence of disorders such as arrhythmia and bradycardia will add to the demand for cardiac pacemakers, globally. Furthermore, increasing incidence of sudden deaths due to cardiac arrests will favor the growth of the market in the coming years. According to the American Heart Association Journal, in 2015, approximately 15% of the global population has succumbed to cardiac arrests. Such prevalence of cardiac arrests has created the need for technologically sound cardiac pacemakers. This, in turn, will boost the global cardiac pacemakers market in the forthcoming years.


Cardiac Resynchronization Therapy Device Pacemaker (CRT-P) Will Witness High Demand


The demand for advanced cardiac pacemakers has resulted from increasing cases of sudden deaths, globally. In the wake of high demand for advanced pacemakers, there have been several new products in the market, integrated with new technologies. Among all product types, Cardiac Resynchronization Therapy Device Pacemaker (CRT-P) has drawn more attention due to its standout properties. The CRT-P has the ability to sense heart rates with high accuracy. Furthermore, this device is also able to deliver shocks at accurate instances. The properties of cardiac resynchronization therapy device pacemaker have created a huge demand for these devices around the world. Additionally, the contribution from government organizations and favorable reimbursement policies will add to the demand of CRT-P device. Fortune Business Insights has predicted that the CRT-P segment will witness considerable growth in the coming years.


Cardiac Pacemakers Market in Europe Will Witness Considerable Growth


The improvements in healthcare infrastructures have boded well for the growth of the cardiac pacemakers market in Europe. In addition to this, the high prevalence of cardiac arrests and low survival rates of cardiac arrests have created the need for pacemakers at an increasing rate. There has been an awareness among people regarding the side effects of cardiac arrests, influenced by the high fatality rate of cardiac arrests in this region. In addition to the aforementioned factors, favorable health reimbursement policies will aid the growth of the cardiac pacemakers market in Europe.


Medtronic and Boston Scientific to Account for More Than Half of the Global Market Share


The attractive product portfolios of Medtronic and Boston Scientific, combined with a strong market brand will contribute to the success of these companies in the global market. Fortune Business Insights states that together, these two companies will account for more than half of the global market share during the forecast duration. Influenced by market activities of Medtronic and Boston Scientific, many companies have put in more efforts to better their products. Altogether these factors will favor the growth of the global cardiac pacemakers market in the coming years. Some of the leading companies that are operating in the global cardiac pacemakers market are Biotronik, LivaNova Plc, Abbott, and Microport.


Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/cardiac-pacemakers-market-100682


The global cardiac pacemakers market is segmented based on:






















 ATTRIBUTE



 DETAILS



By Product




  • Single Chamber Pacemakers

  • Dual Chamber Pacemakers

  • Cardiac Resynchronization Therapy-Pacemakers (CRT-P)



By End User




  • Hospitals & Clinics

  • Ambulatory Surgery Centers and Others



By Geography




  • North America (USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Rest of the World


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