Pacemaker Market Will Be Worth $12.3 Billion By 2025: Grand View Research, Inc.
The global pacemaker market is expected to reach USD 12.3
billion by 2025, according to a new report by Grand View Research, Inc. The
heightening prevalence of cardiac conditions coupled with the availability of
medical coverage is a key driving factor governing the growth of Pacemaker
globally. In addition, technological enhancements in these devices are
supporting the expansion of this vertical.
Increasing prevalence of Cardiovascular Diseases (CVDs) is a
high-impact growth rendering driver for this market. A death estimate of 17.5
million stemming from CVDs was reported by the World Health Organization in
2012. Currently, the high occurrence of CVDs is one of the key concern areas,
to address which, government organizations and market participants are
channelizing funds and efforts to offer the best possible cure. This is
anticipated to foster R&D initiatives and increase the influx of advanced
products in this space.
Additionally, increasing awareness about cardiovascular
disorders and their long-term impact is increasing the preference of patients
for advanced treatment options. This is expected to bolster the usage rate of
these products.
On the other hand, these devices are cost prohibitive with
the cost of pacemaker ranging from USD 10,000 to USD 30,000. The high price is
likely to restrain the growth of the pacemaker market.
Browse full research report on global Pacemaker Market: http://www.grandviewresearch.com/industry/medical-devices
Further key findings from the study suggest:
- Implantable
pacemakers held a lucrative share in 2015 and are also likely to grow at a
profitable rate over the forecast period
- North
America owing to its planned healthcare network, greater per capita
income, and increasing awareness levels about the adverse effects of a
prolonged cardiac condition helped this regional segment retain a sturdy
share in the global pacemaker market
- Economic
development in countries, such as India and China, unmet needs of the huge
population chunk, and supportive initiatives undertaken by the government
to improve healthcare access is projected to present avenues for
investment, thereby boosting the growth of the Asia Pacific region
- Some
of the key players operating in this space are Medtronic, BIOTRONIK, Inc.,
Boston Scientific Corporation, St. Jude Medical, ZOLL Medical Corporation,
MEDICO S.p.A., Vitatron, Pacetronix, and Cordis, Inc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global pacemaker
market on the basis of product and region:
Global Pacemaker Product Outlook (Revenue, USD
Million, 2014-2025)
- Implantable
- Single
Chamber
- Dual
Chamber
- Biventricular
- External
Pacemaker Regional Outlook (Revenue, USD Million,
2014-2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
- Saudi
Arabia
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-pacemaker-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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