Pacemaker Market: Detailed Segmentation, COVID-19 Impact Analysis, Opportunity Analysis By 2030

 According to the report published by Allied Market Research, the global Pacemaker Market generated $4.66 billion in 2020, and is expected to reach $6.67 billion by 2030, witnessing a CAGR of 3.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.

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A pacemaker is defined as a small battery-operated medical device that is implanted in the heart to control the heartbeat. A pacemaker is used to prevent the heart from beating slowly or regularly. It produces electrical impulses, which are delivered through electrodes to stimulate the heart's chambers. The purpose of the pacemaker is to regulate the activity of the heart's electrical system. The device is implanted into the heart through surgery. It is used for the treatment of chronic or acute heart failure and heart failure. It offers a real opportunity to improve health outcomes and increase efficiency.

Covid-19 Scenario:

  • The non-essential procedures were postponed due to shift in resources to take care of increasing number of patients suffering from the Covid-19 infection. This led to postponement of surgeries related to pacemakers. However, the surgeries were carried out in extreme cases. 
  • The R&D activities were stopped partially or completely as investments were locked to deal with the economic uncertainties. Moreover, the speed of technological advancements for pacemakers lowered down.

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KEY MARKET PLAYERS

  • Abbott Laboratories
  • BIOTRONIK
  • Boston Scientific Corporation
  • Lepu Medical
  • Livanova
  • MEDICO SpA
  • Medtronic
  • Oscor Inc.
  • Osypka Medical GmbH
  • Shree Pacetronix

Based on region, Europe accounted for the highest market share in 2020, accounting for almost half of the total, and is expected to maintain its dominance through 2030. However, Asia-Pacific and -expected to witness the fastest CAGR of 4.1% during the forecast period. time.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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