The external pacemakers global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
External Pacemakers Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The external pacemakers market size has grown strongly in recent years. It will grow from $1.44 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the shift towards less invasive surgical techniques, the demand for minimally invasive structural heart devices, ongoing training and education programs for healthcare professionals, rising healthcare expenditure, growing patient preference for non-surgical or minimally invasive treatment options.
The external pacemaker market size is expected to see strong growth in the next few years. It will grow to $1.90 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to the increasing aging population, growing awareness about heart health, the implementation of screening programs, favorable reimbursement policies for structural heart procedures, timely regulatory approvals for new structural heart devices. Major trends in the forecast period include increasing adoption of transcatheter valve replacement, ongoing development of innovative devices with advanced materials, growing emphasis on personalized treatment approaches, increasing adoption of hybrid procedures, integration of remote monitoring and telehealth solutions.
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Scope Of External Pacemakers MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
External Pacemakers Market Overview
Market Drivers -The growing incidence of cardiovascular diseases are expected to drive the growth of the external pacemaker market going forward. Cardiovascular disease (CVD) is a class of diseases involving the heart or blood vessels. There is a growing incidence of cardiovascular diseases due to several factors such as sedentary lifestyles, poor dietary habits high in processed foods and sugars, increasing rates of obesity, smoking, high blood pressure, and stress. The external pacemakers are used in cardiovascular diseases to regulate abnormal heart rhythms and improve cardiac function. For instance, in October 2022, according to the World Heart Federation, a Switzerland-based non-governmental organization, the projections indicate a rise in cardiovascular disease (CVD) deaths from 18.9 million in 2020 to surpass 22.2 million by 2030 and to escalate to 32.3 million by 2050. Therefore, the growing incidence of cardiovascular diseases is expected to propel the growth of the external pacemaker market.
Market Trends – Major companies operating in the external pacemaker market are developing innovative products, such as miniaturized pacemakers, to improve battery life and gain a competitive edge in the market. Miniaturized or leadless pacemakers are small electronic devices implanted in the heart to regulate its rhythm. For instance, in May 2023, Medtronic Plc, an Ireland-based medical device company, received Food and Drug Administration approval for Micra AV2 and Micra VR2, the next generation of its industry-leading miniaturized, leadless pacemakers. They provide up to 40% more battery life than previous models, with projected median battery life ranging from nearly 16 to 17 years. These devices feature advanced algorithms for automatic AV synchrony programming and higher tracking capability for active patients. Micra pacemakers minimize complications and improve the patient experience with their small size and lack of leads or surgical pockets.
The external pacemakers market covered in this report is segmented –
1) By Product: Single Chamber, Dual Chamber
2) By Application: Bradycardia, Acute Myocardial Infarction
3) By End-user: Hospitals, Ambulatory Surgical Centers, Other End-Users
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Regional Insights – North America was the largest region in the external peacemakers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the external pacemakers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the external pacemakers market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Fluke Corporation, W. L. Gore & Associates Inc., Lepu Medical Technology Co.Ltd., Biotronik, LivaNova PLC, ZOLL Medical Corporation, CryoLife Inc., OSCOR Inc., Sorin Group, Netech Corporation, Cosmos Healthcare, FIAB SpA, Soma Tech Intl, JenaValve Technology Inc., Ancora Heart Inc., Shree Pacetronix Ltd., Osypka Medical Inc., Avery Biomedical Devices Inc., Galix Biomedical Instrumentation Inc, AtaCor Medical Inc., Cor Medical Centre, Navilyst Medical Inc.
Table of Contents
1. Executive Summary
2. External Pacemakers Market Report Structure
3. External Pacemakers Market Trends And Strategies
4. External Pacemakers Market – Macro Economic Scenario
5. External Pacemakers Market Size And Growth
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27. External Pacemakers Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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