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.
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