Leadless Pacemakers Market : Global Demand Analysis & Opportunity Outlook 2024
Leadless Pacemakers Market : Global Demand Analysis & Opportunity Outlook 2024
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Leadless Pacemakers Market : Global Demand Analysis & Opportunity Outlook 2024
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Leadless pacemakers are medical devices which are used for the treatment of patients suffering from heart related diseases such as brady-arrythmias and slow heart rhythms. These are complete enclosed capsules which include pacemaker electronics and power source. Further, leadless pacemakers are implantable devices transplanted directly in the right ventricle of the heart where it sends small electrical impulses to the heart muscles to continue at an acceptable heart rate. Additionally, leadless pacemakers are less invasive as compared to traditional pacemakers and can be implanted within an hour. Leadless pacemakers take less time to recover and also eliminate problems related to transvenous leads such as lead fracture, insulation breaks and other. Leadless pacemakers produce comparatively less radiation and have better life quality without causing any infection to the heart ventricle.
The global leadless pacemakers market is expected to witness a robust growth over the forecast period i.e. 2017-2024. Rising heart related diseases across the globe and rising adoption of highly advanced medical devices in healthcare sector is envisioned to foster the growth of global leadless pacemakers market during the forecast period.
In terms of region, global leadless pacemakers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is the biggest market in leadless pacemakers and is anticipated to witness a robust growth over the forecast period owing to factors such as rising number of people suffering from heart related diseases and growing adoption of leadless pacemakers in healthcare sector in this region. In United States of America alone, more than 70% pacemakers’ implantations have been done in recent past. Further, North America region is expected to behold this positive growth over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
Asia Pacific region is projected to witness a remarkable growth over the forecast period owing to factors such as development of new medical industries and increasing investment in healthcare sector in this region. Additionally, factors such as rapid advancement in healthcare infrastructure and medical sector in Europe region is expected to drive the growth of leadless pacemakers market in this region.
Our-in depth analysis of the global leadless pacemakers market includes the following segments:
Global leadless pacemakers market is further classified on the basis of region as follows:
Global leadless pacemakers market is primarily driven by factors such as rising number of individuals suffering from heart related diseases such as bradycardia and others. Additionally, rapid failure of conventional pacemakers is also propelling the demand for leadless pacemakers which are comparatively effective in heart related diseases.
Further, additional advantages with implementation of leadless pacemakers such as lack of lead related complications and avoidances of pocket related problems such as infection, disfigurement and elimination of lead fracture are some of the major factors which are driving the growth of global leadless pacemakers market. Moreover, leadless pacemakers offer more convenience including less implementation time (less than an hour), less invasive and less recovery time. Such factors are expected to propel the demand for leadless pacemakers in healthcare sector.
However, high cost of leadless pacemakers (more than ten times of conventional pacemakers) may dampen the growth of global leadless market in near future.
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