A cardiac pacemaker is a tiny device that is surgically implanted in the chest to regulate a slow heartbeat. Three types of cardiac pacemakers exist: a single-chamber pacemaker, a dual-chamber pacemaker, and a biventricular pacemaker. The single-chamber pacemaker is placed in the lower chamber or ventricle of the heart, while the dual-chamber pacemaker has two leads and is positioned in the right atrium and right ventricle. The biventricular pacemaker is employed in the management of heart failure through cardiac resynchronization therapy. By sending electrical impulses to both the left and right ventricles, the biventricular pacemaker aids in pumping. In addition, there are two methods for implanting pacemakers. The first is an internal cardiac pacemaker that is placed inside the body to transmit electrical impulses for the purpose of regulating the heart’s rhythm. The second method involves an external cardiac pacemaker, also called an artificial pacemaker. This electrode-based medical device is utilized to regulate the contractility of myocardiocytes, which are responsible for cardiac remodeling and ensuring a proper heart rate.
The global cardiac pacemaker market is expected to reach a value of US$ 4,547.8 million in 2023, growing at a CAGR of 3.3 % during the projected timeframe from 2023 to 2030.
Ask Us to Get Your Sample Copy Of The Report, Covering TOC and Regional Analysis @ https://www.coherentmarketinsights.com/insight/request-sample/1765
The anticipated growth of the global cardiac pacemaker market during the projected duration is likely to be propelled by a rise in product approvals from regulatory authorities.
The growth of the global cardiac pacemaker market is projected to be propelled by an increase in product approvals from regulatory bodies during the forecast period. An illustration of this can be seen in the announcement made by Medtronic plc, a medical device company, on June 15, 2020. The company revealed that its Micra AV Transcatheter Pacing System (TPS), a small pacemaker equipped with atrioventricular (AV) synchrony features, received CE mark approval from the European Union (EU). This device is designed to provide electrical signals for proper heart functioning and is recommended for patients with AV blocks or impaired heart chambers.
The anticipated growth of the global cardiac pacemaker market during the forecast period is attributed to the rise in inorganic activities among market participants.
The global growth of the cardiac pacemaker market is anticipated to be propelled by the increasing occurrence of inorganic activities, such as partnerships, agreements, and collaborations among market players, throughout the projected timeframe. An illustration of this is the recent announcement made by LifeTech Scientific Corporation, a China-based interventional medical devices manufacturer, on December 17, 2021, extending their partnership with Medtronic plc, a medical devices company, for the HeartTone domestic pacemaker project. The project is set to be extended until 2028, with Medtronic providing a range of specialized technical consulting services.
Impact of the Coronavirus (COVID-19) Pandemic
The growth of the global cardiac pacemaker market is likely to be impeded by the COVID-19 pandemic due to its effect on cardiac surgeries. A study published in the National Center for Biotechnology Information (NCBI) in March 2022 revealed that the pandemic resulted in a significant decrease in adult cardiac surgery volume and elective cases in the United States in 2020, with a reduction of 52.7% and 65.5%, respectively. The Mid-Atlantic region was particularly affected by the first wave of the pandemic, with a drop in overall case volume for cardiac surgeries of approximately 69.7% among the population in that area.
The global cardiac pacemaker market is expected to be hindered during the forecast period due to market players initiating product recalls. An example of this occurred in August 2021, when Boston Scientific, a medical device manufacturing company, issued a recall notice for pacemakers and cardiac resynchronization therapy pacemakers (CRT-Ps). The reason for the recall was the potential for these devices to transition to safety mode, which is intended to provide a backup if the device malfunctions. The recalled pacemakers and CRT-Ps are part of Boston Scientific’s INGENIO product portfolio, which is used to treat patients with low heart rates or moderate to severe heart failure, a condition in which the heart cannot pump enough blood to meet the patient’s needs.
The global cardiac pacemaker market is classified based on geographical areas such as Africa, Latin America, Asia Pacific, North America, Europe, and the Middle East.
North America is anticipated to maintain its supremacy in the market throughout the projected period, mainly due to the rising incidence of heart ailments in the United States. As an illustration, the Centers for Disease Control and Prevention (CDC) reported that more than 360,900 individuals in the U.S. succumbed to coronary heart disease in 2019, while around 18.2 million adults aged 20 and above had coronary artery disease (CAD), which accounted for approximately 6.2 percent of the population. Moreover, the CDC disclosed that roughly 805,000 Americans experience heart attacks annually.
Prominent players, including MEDICO S.R.L., Medtronic, Vitatron Holding B.V., Boston Scientific Corporation, MicroPort Scientific Corporation, Lepu Medical Technology (Beijing) Co., Ltd., Abbott, OSYPKA MEDICAL, BIOTRONIK SE & Co. KG, OSCOR Inc., Pacetronix, and LIVANOVA PLC, are operating in the global cardiac pacemaker market.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐩 𝐓𝐨 𝟐𝟓% 𝐎𝐅𝐅 @ https://www.coherentmarketinsights.com/insight/buy-now/1765
|The market size value in 2023|
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Cardiac Pacemaker Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Cardiac Pacemaker Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
Why Choose Coherent Market Insights?
☛ Identified business opportunities – Our market research report can be used to analyze potential markets and new products. It can give information about customer needs, preferences, and attitudes. Also, it compare products and services.
☛ A clear understanding of your customers – A market report gives company’s marketing department an in-depth picture about customers’ needs and wants. This knowledge can be used to improve products, prices, and advertising.
☛ Clear data-driven insights – Our Market research encompasses a wide range of activities, from determining market size and segment to forecasting demand, and from identifying competitors to monitoring pricing. All of these are quantified and measurable which means that gives you a clear path for building unique decisions based on numbers.
Ask For Discount Before Purchasing This Business Report : https://www.coherentmarketinsights.com/insight/request-discount/1765
Explore More Related Insights:
- Oncology Drugs Market
- Clostridium Vaccine Market
- Nuclear Imaging Equipment Market
- Thromboelastography Market
- Inhalation Anesthetics Market
- Protein Expression Systems Market
- Contract Pharmaceutical Manufacturing Market
- Epinephrine Market
- Clear Aligners Market
- Influenza Diagnostics Market
- Meningitis Diagnostic Testing Market
- Small Molecule API Market
- Automatic Stair Climbing Wheelchair Market
- Dental Wound Dressings Market
- Irrigation Syringe Market
- Antimicrobial Susceptibility Testing Market
- Pemetrexed Market
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Coherent Market Insights
533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027