LONDON, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the pacemakers market, the increasing prevalence of cardiovascular diseases is contributing to the growth of the pacemaker market going forward. The increasing prevalence of cardiovascular diseases is due to risk factors such as unhealthy diets, tobacco use, and harmful use of alcohol. Pacemakers include flexible and insulated wires that are helpful in controlling cardiovascular diseases by controlling irregular heart rhythms. For instance, in 2021, according to the World Health Organization, a Switzerland-based government agency, India would account for one-fifth of the total deaths occurring from stroke and ischemic heart disease, mainly in younger adults. Additionally, an estimated 17.9 million people died from cardiovascular diseases in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attacks and strokes. Therefore, the increasing prevalence of cardiovascular diseases will drive the growth of the pacemaker market.
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The global pacemaker market size is expected to grow from $4.57 billion in 2021 to $4.88 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The global pacemakers market growth is expected to reach $5.77 billion in 2026 at a CAGR of 4.3%.
Technological advancements have emerged as a key trend gaining popularity in the pacemaker market. Major companies operating in the pacemaker market are focused on developing new technological solutions to strengthen their position. For instance, in October 2020, Medtronic plc, an Ireland-based medical technology company, launched Azure pacemakers based on BlueSync technology in India. Azure pacemakers are India's first pacemakers that communicate directly with patients' smartphones and tablets. Azure is designed to accurately detect and reduce the likelihood of atrial fibrillation. It will offer improved longevity (up to 13.7 years), so patients could potentially need fewer device replacements and will allow patients to have MRI scans in either 1.5 or 3 Tesla (T) machines. This will enable automatic, secure wireless communication through Bluetooth Low Energy and remote monitoring through the Medtronic CareLink Network, providing more timely alerts of clinically relevant patient events that can be reviewed by a clinician at any time.
Major players in the pacemakers market are Boston Scientific Corporation, ZOLL Medical Corporation, Medtronic plc, Biotronik, MicroPort Scientific Corporation, Cook Medical, MEDICO SpA, Shree Pacetronix Ltd., Oscor Inc., Osypka Medical GmbH, Abbott Laboratories, LivaNova PLC, Lepu Medical Technology (Beijing)Co Ltd., Cordis Inc., St. Jude Medical Inc., and Vitatron.
The global pacemakers market segmentation is categorised by type into MRI compatible pacemaker, conventional pacemaker; by technology into single-chamber pacemaker, dual-chamber pacemaker, biventricular or CRT pacemaker; by implantability into implantable pacemaker, external pacemaker; by application into congestive heart failure, arrhythmias, bradycardia, tachycardia; by end-user into hospitals, cardiac care centres, ambulatory surgical centres, others.
As per the pacemakers market research, North America was the largest region in the market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global pacemaker market during the forecast period. The regions covered in the global pacemakers industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Pacemakers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide pacemakers market overviews, pacemakers market analyze and forecast market size and growth for the whole market, pacemakers market segments and geographies, pacemakers market trends, pacemakers market drivers, pacemakers market restraints, pacemakers market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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