According to report, the global pacemaker devices market expected to rise to US$8.1 bn by 2022.
Albany, NY -- (SBWIRE) -- 10/10/2017 -- The growing number of cardiac patients and rising incidences of cardiovascular disorders across the world is currently a prime factor, significantly boosting the pacemaker devices market. The demand has also grown due to the increasing awareness among patients with heart diseases. Analysts have recently studied that the growing utility and convenience of modern pacemaker devices could be a major aspect of the global market in the coming years. To explore more details about the global market, a study titled "Pacemaker Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022" has been broadcasted to the wide repository of Market Research Hub (MRH). The report provides a close look at the growth trajectory of the global pacemaker devices market, with close attention paid to factors such as the geographical segmentation of the market and the market's leading contributors.
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Pacemakers are medical devices which are placed in the chest or abdomen in order to identify abnormal heart rhythms. For patients who are inclined to irregular heartbeats and heart attacks, these devices can truly be a lifeguard. There are various types of pacemaker devices in the global market due to the rapid rate of technological progression in the healthcare sector, with new product formulations. External and implantable pacemakers are the key product types in the global pacemaker devices market.
At first, the study starts by defining the pacemaker devices market overview. In addition, the subsequent section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the pacemaker devices market and could influence the market in the near future. As per the latest findings, demonstrating a strong 8.1% CAGR between 2017 and 2022, the market is expected to rise to US$8.1 bn by 2022 from its value US$5.5 bn in 2017. It has been well identified that one of the major drivers is the rapid progress of the medical devices industry. Apart from that, modern connectivity features in pacemakers are likely to help the global pacemaker devices market's growth, such smartphone connectivity in a pacemaker can allow users to keep track of their or a loved one's heart rate while calling the physician in cases of emergency has also become easier.
On the basis of product type, implantable pacemakers are likely to remain the dominant segment through the 2017-2022 forecast period. The major reason behind this dominance is the convenience of implantable pacemaker devices over external devices in terms of the accuracy of the readings and comfort to the patient. In terms of end-use, the global pacemaker devices market is segmented into hospitals, ambulatory surgical centers and cardiac clinics. Geographically, North America is likely to dominate proceedings in the global pacemaker devices market in the coming years. The robust health care research scenario in North America is encouraging for strong growth of the pacemaker devices.
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Furthermore, key players are also mentioned in the report along with their market positioning, growth strategies and recent developments. Leading companies in the global pacemaker devices market include OSYPKA AG, Oscor Inc., Abbott Laboratories, Zoll Medical Corporation, Biotronik SE & Co. KG, Medtronic Plc., Boston Scientific Corporation, Lepu Medical Technology and Pacetronix Limited.
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