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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.
The North America pacemakers market is experiencing significant growth, primarily fueled by several key factors. The increasing incidence of cardiovascular diseases (CVDs) stands out as a major driver. CVDs, encompassing a range of heart and blood vessel disorders, are a leading cause of mortality globally and in the US. World Health Organization data from 2017 highlights that approximately 90% of CVDs are preventable, yet they remain the top cause of death in both the US and worldwide.
Alarmingly, CVDs accounted for 30% of global mortality according to the same source. In the US, the Centers for Disease Control and Prevention identifies coronary heart disease (CHD) as the most prevalent type of heart disease, responsible for over 370,000 deaths annually. Further emphasizing this burden, the American Heart Association reported that in 2016, CHD was the leading cause (43.2%) of CVD-related deaths in the US, followed by stroke (16.9%), high blood pressure (9.8%), heart failure (9.3%), and other vascular conditions. This substantial and rising prevalence of CVDs worldwide is projected to be a significant catalyst for market expansion in the forecast period.
Another crucial factor propelling market growth is the significant geriatric population present in the region. This demographic is particularly susceptible to chronic heart diseases, thus increasing the demand for related medical devices and treatments.
Furthermore, the presence of key market players and the major technological advancements they are introducing in the North American market are also contributing significantly to growth. These innovations are likely leading to more effective and user-friendly devices, further driving adoption.
Within the North America pacemakers market, implantable pacemakers held the largest share by product type in 2018. This segment is also anticipated to experience the fastest growth, with a projected CAGR of 8.3% from 2019 to 2027. The increasing adoption of these devices is largely attributed to the availability of reimbursement, which alleviates the financial burden on patients in developed economies where CVD prevalence is high. Moreover, implantable pacemakers benefit from high market penetration and are often the preferred choice due to their low risk profile and other advantages.
North America pacemakers market Segmentation
North America pacemakers market By Product Type
Implantable Pacemakers
External Pacemakers
North America pacemakers market By Technology
Single Chambered
Dual Chambered
Bi-Ventricular
North America pacemakers market By End User
Hospitals
Ambulatory Surgical Centres
Others
North America pacemakers market By Country
U.S
Canada
Mexico
North America pacemakers market Companies Mentioned
Medico S.p.A.
Vitatron
Abbott
Medtronic
OSCOR
LivaNova Plc
Abiomed
Boston Scientific Corporation
Biotronik
Lepu Medical
North America Pacemakers Strategic Insights
Strategic insights for the North America pacemakers market provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Pacemakers Regional Insights
The geographic scope of the North America pacemakers market refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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