The North America Pacemakers Market is expected to reach US$ 5,144.2 Mn in 2027 from US$ 2,607.1 Mn in 2018. The market is estimated to grow with a CAGR of 8.0% from 2019-2027.
Medico S.p.A.
Vitatron
Abbott
Medtronic
OSCOR
LivaNova Plc
Abiomed
Boston Scientific Corporation
Biotronik
Lepu Medical
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Implantable Pacemakers
External Pacemakers
Single Chambered
Dual Chambered
Bi-Ventricular
Key factors driving market growth include the rising incidence of cardiovascular diseases, a significant geriatric population at risk of chronic heart conditions, the presence of key market players, and major technological advancements by North American companies.
Cardiovascular diseases encompass various conditions affecting the heart and blood vessels. According to the World Health Organization (WHO), approximately 90% of cardiovascular diseases are preventable. WHO also identifies cardiovascular disease (CVD) as the leading cause of death in the U.S. and globally. In 2017, CVD accounted for 30% of worldwide mortality. Additionally, data from the Centers for Disease Control and Prevention (CDC) indicates that coronary heart disease (CHD) is the most prevalent form of heart disease, responsible for over 370,000 deaths annually. The American Heart Association reported in 2016 that CHD was the leading cause (43.2%) of cardiovascular-related deaths in the U.S., followed by stroke (16.9%), high blood pressure (9.8%), heart failure (9.3%), arterial diseases (3.0%), and other cardiovascular conditions (17.7%). This high global prevalence of cardiovascular diseases is expected to drive market expansion in the coming years.
The pacemakers market is segmented by product type into implantable and external pacemakers. In 2018, implantable pacemakers held the largest market share. This segment is also projected to experience the fastest growth, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2027. The growing adoption of implantable pacemakers is primarily driven by reimbursement policies that alleviate financial burdens for patients in developed countries with a high prevalence of cardiovascular diseases. Additionally, implantable pacemakers are widely available and preferred due to their lower risk and various advantages, further supporting market growth.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights