Research Nester has released a report titled “External Pacemaker Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global external pacemaker market in terms of market segmentation by product, device, distribution channel, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global external pacemaker market is segmented by product into pulse generator device and leads, out of which, the pulse generator device held the largest market share in the year 2018 and is anticipated to gain an incremental $ opportunity of USD 58.77 million in the year 2020 as compared to the previous year and further cross a value of USD 1517.91 million by the end of 2028. Further, the segment is also expected to gain an absolute $ opportunity of USD 576.73 million during the forecast period.
The global external pacemaker market is anticipated to achieve a CAGR of 7.22% during the forecast period, i.e. 2021-2028. Rising market penetration of key players along with the consequent entry of products in the market, rising disposable income, favorable reimbursement policies, changing patient awareness regarding the early diagnosis of various chronic disorders are some of the factors anticipated to promote the growth of the global external pacemaker market. The global external pacemaker market is further expected to garner USD 1809.94 million by the end of 2028 from USD 899.15 million in the year 2018 and further gain an incremental $ opportunity of USD 70.63 million in the year 2020 as compared to the previous year. On the other hand, the market is expected to gain an absolute $ opportunity of USD 698.58 million during the forecast period.
Regionally, the global external pacemaker market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market of North America held the largest market share of 38.56% in the year 2019 and is anticipated to reach a value of USD 708.78 million by the end of 2028 along with an incremental $ opportunity of USD 27.82 million in the year 2020 as compared to the previous year. Further, the market in the region is also expected to register a CAGR of 7.41% during the forecast period.
Growing Cases of Cardiovascular Diseases Globally
In the statistics by the World Heart Federation, in the year 2019, across the world over 18 million people suffered from cardiovascular disease. Further, in other statistics by the World Health Organization, stated that in the year 2019 Asia Pacific accounted for the highest number of deaths per 100,000 with China being the country with most CVD deaths.
Cardiovascular diseases are known to be the leading cause of death around the world. It is found that strokes and heart attack comprised almost 4 out the 5 reasons for CVD death, backed by the factors such as lack of physical inactivity, alcohol & tobacco consumption, unhealthy diet, high blood cholesterol, and diabetes. It is also observed that in comparison to women, men had higher incidence of heart attacks. In the statistics by the Centers for Disease Control and prevention, in the United States, an estimated 6 in 10 adults suffer from chronic diseases. Moreover, sedentary lifestyle, eating habits and various eternal factors have contributed to the declining health, along with an evident rise in CVDs across the world, and has further resulted in the increasing prevalence of self-reported inactivity among adults, which decreased from 40.1% to 26.9%. Such factors are anticipated to drive the growth of the global external pacemaker market.
However, concerns regarding the high cost of product and unfavorable reimbursement policies of several government of nations globally are some of the factors anticipated to limit the growth of the global external pacemaker market.
This report also provides the existing competitive scenario of some of the key players of the global external pacemaker market, which includes company profiling of Biotronik SE & Co KG, Medtronic plc (NYSE: MDT), Osypka Medical GmbH, Braile Biomedica, Boston Scientific Corporation (NYSE: BSX), Oscor Inc., Galix Biomedical Instrumentation Inc. and Shree Pacetronix Ltd. (BOM: 527005). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global external pacemaker market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.