United States Pacemaker Market to Register Healthy Growth through 2025
Increasing cases of
cardiovascular diseases and technological advancements in healthcare to drive
United States pacemaker market
According
to TechSci Research report, “United States Pacemaker Market By Type (MRI Compatible
Pacemakers, Conventional Pacemakers), By Product Type (Implantable Pacemaker,
External Pacemaker), By Application (Heart Block, Arrhythmia, Atrial Fibrillation,
Bradycardia, Tachycardia, Long QT
Syndrome), By Technology (Single Chamber, Dual Chamber, CRT-P/Biventricular
Pacemaker), By End User (Hospitals & Cardiac Centers, Ambulatory Surgical
Centers), By Region, Forecast & Opportunities, 2025”, the market is anticipated to grow at a significant CAGR
during the forecast period. Key factors propelling the growth of United States
pacemaker market include increasing prevalence of cardiovascular diseases and
the spread of COVID-19, which has led to high spread of CVDs among patients
suffering from coronavirus. The increasing demand for minimally invasive
procedures is also creating high demand for pacemakers in United States market.
Furthermore, technological advancements and launch of new products such as
leadless pacemakers and MRI safe pacemakers are expected to propel the market
growth in coming years. Also, favorable government policies and increasing
expenditure on healthcare sector are supporting the growth of United States
pacemaker market.
Additionally, favorable reimbursement procedures such as
Medicare system coupled with rise in manufacturing high-end pacemakers, which
caters to customized care are fueling the growth of United States pacemaker
market. Along with this, growing geriatric population who are more vulnerable
to cardiovascular diseases is also acting as a major growth driver for this
market. The advent of battery free pacemakers has brough revolutionary change
in the market and is augmenting the market growth. With increasing FDA approval
for novel pacemakers, the market is expected to witness substantial growth
through 2025. However, pacemaker devices cost two to six times more in the United
States than in European countries such as Germany. This might hinder the United
States pacemaker market growth.
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The United
States pacemaker market is segmented based on type, product type, application,
technology, end user and region. Based on application, the market can be
segmented into heart block, arrhythmia, atrial fibrillation, bradycardia,
tachycardia, and long QT syndrome. Among them, atrial fibrillation is expected
to hold a significant share in United States pacemaker market during the
forecast period. According to CDC, around 2.7–6.1 million people in the United
States have atrial fibrillation, which is the most common type of heart
arrhythmia. The number is expected to increase over the coming years.
Based
on technology, United States pacemaker market can be segmented into single
chamber, dual chamber and CRT-P/biventricular pacemakers. Among them, dual-chamber
pacemakers held significant share in United States market in 2019, owing to reduced
post-surgical complications and presence of two leads which assure normal
physiology of the heart. However, CRT-P, also known as biventricular pacemakers,
are expected to register fastest growth in United States pacemaker market
during the forecast period as they are increasingly being used to treat people
with arrhythmias caused by advanced heart failure. These pacemakers contain three
leads which are connected to the right atrium and both ventricles.
Major players operating in the United
States pacemaker market include Biotronik, Inc., Boston Scientific Corporation,
Abbot Inc., Zoll Medical Corporation, Oscor Inc., Medtronic, Inc., Cordis,
Inc., Livanova PLC, Medico Inc., Oscor Inc. and Osypka Medical Inc. Leading
companies are undertaking growth strategies such as new product launches,
mergers & acquisitions and partnerships.
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“The
introduction of U.S. Food and Drug Administration (FDA)-cleared MRI-conditional
pacemaker models are a growing trend in United States. Around 20% of pacemaker
patients need an MRI within the first two years of implant. Pacemakers which do
not have MRI-conditional use technology, generally prevent patients from being
able to get an MRI. With increasing cases of cardiovascular diseases in the
country, more manufacturers are coming up with advanced products and are using
MRI-conditional use technology,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“United States Pacemaker Market By Type (MRI
Compatible Pacemakers, Conventional Pacemakers), By Product Type (Implantable Pacemaker,
External Pacemaker), By Application (Heart Block, Arrhythmia, Atrial Fibrillation,
Bradycardia, Tachycardia, Long QT
Syndrome), By Technology (Single Chamber, Dual Chamber, CRT-P/Biventricular
Pacemaker), By End User (Hospitals & Cardiac Centers, Ambulatory Surgical
Centers), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of United
States pacemaker market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in United States pacemaker
market.
Contact
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