Analyzing the Growth of the Pacemaker Industry

The prevalence of cardiovascular disorders has considerably increased over the past few decades, resulting in extremely high mortality and morbidity worldwide. Coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other illnesses are among the category of heart and blood vessel disorders known as CVDs. According to the WHO, CVDs claim the lives of an estimated 17.9 million individuals each year. Moreover, cardiovascular illnesses are responsible for 36.4 million years of life lost (YLLs) from premature deaths and 40.8 million disability-adjusted life years (DALYs) annually. According to the Pan American Health Organization (PAHO), cardiovascular illnesses are the leading cause of death in the region. More than 75 percent of mortality in low- and middle-income countries are caused by heart disease and stroke.

Why are Pacemakers Important?

Small, battery-powered pacemakers can be implanted in a minimally invasive surgery. With the aid of pacemakers, the heart can beat normally and rhythmically. In cases where the heartbeat is either too slow or too fast, these devices assist in regulating it. With a pacemaker, some arrhythmia symptoms, such as fatigue and fainting, can be alleviated. In addition, it can help the individual with irregular heartbeats resume an active lifestyle. Moreover, they can be used either permanently or temporarily (long-term).

Pacemakers Types and Market Segment

There are many different types of pacemakers on the market right now to meet the needs of patients. Depending on the disease or condition being treated, several pacemaker types and uses may be appropriate. The pacemakers are divided into two categories: implanted (which includes Single-Chamber Pacemakers and Dual-Chamber Pacemakers) and external. A single wire is connected to one heart chamber by single-chamber pacemakers. Two wires are connected to two heart chambers by dual-chamber pacemakers. Heart failure is treated with implantable biventricular (CRT) pacemakers, which are also available on the market.

Pacemakers Market Dynamics and Drivers

As cardiovascular disorders become more common, there will be a growing demand for pacemakers, which will cause the pacemaker market to expand significantly during the upcoming years. Heart attacks and strokes account for more than four out of every five CVD deaths, and one-third of these deaths happen before the age of 70. According to Global Population Aging's assessment (United Nations, 2020), the aging population is expected to continue to expand at an alarming rate. Over 727 million people worldwide will be 65 years of age or older in 2020. The number of such patients is anticipated to double by 2050 and reach 1.5 billion.

Pacemakers Market Companies

The need for pacemaker surgery has increased dramatically globally over time. Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, LivaNova PLC, Shree Pacetronix Ltd., OSCOR Inc., MEDICO S.p.A., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, and others are some of the major businesses that are currently active in the market. Many significant MedTech juggernauts and fresh startups are expected to enter the pacemakers market in the upcoming years due to increasing demand.

Regional Pacemakers Market Analysis

In the upcoming years, North America is anticipated to dominate the pacemaker market as a whole. The main drivers of the market growth in the region are the rising demand for sophisticated pacemaker technology and the rising prevalence of cardiovascular disorders. The region's aging population is reported to be substantially increasing the likelihood of developing a chronic ailment, which is directly causing a rise in the demand for pacemakers. Also, due to the increased prevalence of cardiovascular disorders in these nations, the pacemaker market is expected to develop in Europe and the Asia-Pacific region in the future.

Pacemakers Market Future Analysis and Perspective

The market for pacemakers is expected to expand in the upcoming years as a result of a number of favorable reasons, the main one being the growth in cardiovascular illnesses (CVDs). Other significant variables include improved treatment outcomes for sudden cardiac arrests, an aging population that is expanding and becoming more prone to coronary heart disease, and technological breakthroughs that have increased the effectiveness of devices. Additionally, it is anticipated that support from government agencies, attractive reimbursement, and increased government spending on R&D will improve the market potential across various geographies.

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