Vancouver, British Columbia, Nov. 25, 2020 – A recent study projects that nearly 2 million patients will undergo surgery for pacemaker insertion and replacement by 2025. According to iData Research, a global consulting and market research firm, the capabilities and battery lifespan of pacemakers have increased in the last decade, and wireless technology is expected to make it easier for doctors to maintain and adjust pacemaker function. As a result, new technologies will keep prices high and lead to a higher number of devices implanted.
iData’s Global Pacemaker Market Report forecasts a total market size of $2.6 billion in 2025. The report also highlights that most pacemaker surgeries will be carried out in North American hospitals. The trends in procedure numbers also show consistent growth in Asia and Africa. However, across the U.S., a tight competitive landscape could slow down growth rates for the market when it comes to pacemaker sales.
“We use a proprietary method to combine statistical data and industry experts’ opinions to estimate current and future market values and procedure numbers. Based on that, we can accurately estimate the market for lifesaving medical devices like pacemakers.” said Dr. Kamran Zamanian, CEO of iData Research.
Among many competitors in the global pacemaker market, Medtronic, Abbott and Boston Scientific are the leaders by varying market shares. Innovation is a vital factor in the competitive landscape. Medtronic pioneered the development of pacemakers and has long been the leading pacemaker manufacturer. Medtronic’s remote monitoring CareLink® network is compatible with its pacemakers and allows patients to check their pacemaker’s status from home, thereby reducing the number of doctor visits.
For more information on the global market for pacemakers, follow the link below to get a Free Research Summary of the Global Market Report for Pacemaker Devices:
Research Summary of the Global Market Report for Pacemaker Devices
The Global Market Report for Pacemaker Devices contains a full overview of the disease, a detailed assessment of the available pacemakers in the market, a global overview of trends, market drivers/limiters and competitive outlook, along with forecasts on procedure numbers, market values and growth projections by each of the analyzed 65 countries and respective regions.