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Temporary pacemakers is an eletric deivce that is used for the management of acute myocardial infraction, severe bradyarrhythmia, and ventricular tachyarrhythmias. The temporary pacemaker is predominanlty sed during emergency procedures or when there is no medical require for permanent pacing of the heart.T he patients are required to stay in the hospital or healthcare facility for as long as the pacemaker is attached to the body. Temporary pacemakers are also used when a permanent pacemaker is not immedicately available. Theincreasing prevlence of cardiovasular diseases is the predomiannat factor driving the market.
Globally, there is an increase in the prevalence of cardiovascular disease which is predominantly expected to drive the market during the forecast period. For instance, Center for Disease Control and Prevention (CDC) states that around 8 million people suffer from heart attack every year in the U.S. This high prevalence of cardiovascular disease is also witnessed in developing countries where is there is a rise in sedentary lifestyle. All these factors are estimated propel the temporary pacemakers market in the foreseen years.
However, risks such as infection, bleeding, dislodged wire of the pacemaker, puncture of vein is estimated involved with the use of temporary pacemakers is estimated to hamper the growth of the market in the coming years.
Key Market Driver -
Increasing prevalence of cardiovascular diseases
Key Market Restraint -
Risks involved with temporary pacemakers
Globally, the temporary pacemakers market can be segmented on the basis of product type, end-users, and region. Based on the product type, the market can be segmented into single chamber pacemaker, dual chamber pacemakers and triple chamber pacemakers. Based on the end-user, the market can be categorised hospitals, specialty clinics, and others.
Geographically, the temporary pacemakers market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the temporary pacemakers market includes Medtronic, Osypka Medical, Biotronik, St. Jude Medical, Shree Pacetronix, Oscor among others.
Based on segmentation of geography, the temporary pacemakers market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is likely to dominate the temporary pacemakers market and is projected to follow the same trend over the forecast duration. This is attributed to the advanced healthcare infrastructure, higher availability of medical devices in healthcare facilities and increase awareness regarding cardiovascular diseases in the region. Combined with this, higher investment in R&D for such is anticipated to drive the temporary pacemakers market in the North America. Europe is projected to be the second highest valued market globally over the forecast duration. Favorable reimbursement policies, robust government initiative for public awareness regarding temporary pacemakers and active government funding in healthcare sector is projected to bolster the market growth in the region. However, due to the increasing geriatric population in countries such as China and India in Asia Pacific the temporary pacemakers estimated to grow at a faster CAGR in the region. The market in Latin America and the Middle East and Africa are expected to capture lower share in the global temporary pacemakers market owing to lower availability of temporary pacemakers in the regions.
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