(PharmaNewsWire.Com, January 24, 2020 ) The pacemakers market is projected to reach USD 4.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 2.0%.
The study involved 4 major activities in estimating the current market size for pacemaker. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
A pacemaker is a medical device used when the heart is unable to produce electrical impulses naturally. When the heart’s natural pacemaker is defective or when the electrical pathways of the heart are blocked, it can cause irregular heartbeats, as known as arrhythmias. A pacemaker uses electrical pulses to prompt the heart to beat at a normal rate to treat arrhythmias.
The major pacemaker’s vendors include Medtronic (Ireland), Abbott (US), and Boston Scientific (US) BIOTRONIK (Germany), LivaNova (UK), OSCOR (US), Pacetronix (India), MEDICO (Italy), Osypka Medical (Germany), and Lepu Medical (China). These players have adopted various growth strategies such as expansions, acquisitions, and new product launches to expand their presence in the global pacemakers market. Product launches has been the most dominating strategy adopted by major players from 2015 to 2018. This has helped them to expand their consumer base and address the unmet needs of end users.
North America is the major revenue-generating region in the global pacemaker market. Factors such as the rising prevalence of CVDs, growing geriatric population, increasing healthcare expenditure, and the availability of technologically advanced devices are driving the growth of the market in North America
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 sales@marketsandmarkets.com
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