Pacemakers Market analysis research and trends report for 2019-2025
Category: #business  By Rahul Varpe  Date: 2020-01-14
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Pacemakers Market analysis research and trends report for 2019-2025

Advancing technologies in medicine giving rise to higher procedural success rates are likely to assert a positive influence on the global pacemakers market trends over the forecast timeline. MRI compatible pacemakers in particular, are expected to accrue robust gains in the years ahead.

Recent trends have shown that the pacemakers market share is gaining enormous momentum owing to the burgeoning geriatric population comprising patients at high risk for cardiac diseases, as well as innovations in technology like the implanted cardioverter defibrillator. These factors among many others are presenting massive growth opportunities to the industry in the near future.

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In fact, pacemaker implantation in individuals over the age of 65 years has recorded the largest revenue valued at over $2947.5 million in 2018, with momentous growth expected over the predicted timeline.

The pacemakers industry size from the implantable product segment is anticipated to register growth at a CAGR of over 2.8% through 2025. Implantable pacemakers are commonly used in the treatment of patients with arrythmia or irregular heartbeat and to promote myocardial contractions, leading to a significant boost in product demand.

Escalating incidents of cardiovascular ailments in the APAC, Latin America and Middle East regions serve as the key drivers for the rising implantable pacemaker demand in the industry. There are several training modules developed by manufacturers for patients and surgeons in order to enhance public awareness regarding implantable cardioverter defibrillators. 

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MRI compatible pacemakers industry share is poised to record a CAGR of over 9.5% through 2025, ascribed to myriad factors including proliferating geriatric population, higher number of patients with implanted pacemakers and the consequent rise in requirement for MRI scans.

With regards to the technology landscape, the dual-chamber pacemaker segment recorded remuneration worth over $2562.2 million in 2018. These products facilitate atrial fibrillation and help avert pacemaker syndrome, driving up product demand in the segment. The pacemaker business landscape in the segment is also bolstered by the growing demand for dual-chamber pacemakers supported by their cost-efficiency.

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Pacemakers market from the arrythmia application amassed revenue worth over $473.0 million in 2018, with massive growth expected in the years ahead. This growth may be accredited to factors like rising heart attack cases and disorders stemming from sedentary lifestyles across the world. In fact, recent news suggests that more than 4 million U.S residents are ailing from recurring arrythmias presently. Therefore, implementation of pacemakers in the treatment of these conditions is likely to add considerable impetus to pacemakers industry dynamics over the estimated timeline.

Pacemakers demonstrate considerable application potential across numerous business verticals, particularly the hospital segment which is set to depict a CAGR of over 3.2% through 2025, as a result of many favorable drivers like an advantageous reimbursement setup and heightened awareness regarding the availability of revolutionary technological devices in hospitals.

Apparently, the Centers for Medicare and Medicaid Services in the United States has allowed compensation to patients for new MRI-conditional pacing systems, thereby presenting several lucrative growth opportunities for the pacemakers market in the segment.

In UK, the pacemakers market is expected to witness an appreciable CAGR of 3.1% through 2025, as a result of evolving lifestyle trends and rising prevalence of cardiovascular issues in the region. For example, the British Heart Foundation has estimated that over 7.4 million individuals we suffering from heart ailments in the UK.

Likewise, the National Health Service (NHS) has recently published a news article suggesting that nearly 2 million people in the UK experience irregularities in heart rhythms annually. 

As per authentic reports, the global pacemakers market share is expected to register revenue of over $4 billion by 2025.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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