The Pacemakers Market is segmented, By Application (Arrhythmias [Atrial Fibrillation, Heart Block, Long QT Syndrome], Congestive Heart Failure, Others), By Type (MRI Compatible Pacemakers, Conventional Pacemakers), By Product (Implantable pacemakers [Single Chamber, Dual Chamber, Biventricular Chamber], External pacemakers), By End-use (Hospitals & Cardiac Centers, Ambulatory Surgical Centers, Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
Segment Analysis
Application Type
The market is classified into arrhythmias, congestive heart failure, and others. The arrhythmias accounted for a revenue share of nearly 35% in 2021 and are estimated to register a healthy CAGR during the forecast timeline. The segment is further segmented into atrial fibrillation, heart block, and long QT syndrome. The segment growth is mainly attributed to excessive alcohol consumption, smoking, lifestyle disorders, and obesity, contributing to the prevalence of cardiac arrhythmia.
Product Type
The market has been segmented into Implantable pacemakers [Single Chamber, Dual Chamber, Biventricular Chamber], and External pacemakers). The Implantable pacemakers segment accounted for a revenue share of nearly 58% in 2021.
Regional Analysis
The North American market accounted for a revenue share of nearly 40% in 2021 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to its well-established healthcare industry. Also, the presence of key players, the growing elderly population with cardiac problems, rapid technological advancements such as MRI compatible pacemakers and Bluetooth enabled pacemakers, and improving regulatory approvals, further proliferate the regional market growth.
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