San Antonio, Texas -- A new analysis by Verify Markets shows the U.S. pacemaker market was valued over $1.7 billion in 2020 and is expected to witness a steady growth rate during the forecast period. The market is likely to be driven by a growing aging population, rising prevalence of cardiovascular and chronic diseases, and technological advances in pacemaker designs that reduce risk and discomfort. Some examples include the development of leadless pacemakers and MRI-compatible pacemakers.
Artificial intelligence techniques have a potential to increase accuracy, reliability, and reduce errors in diagnostic methods, which are likely to help in early diagnosis and implementation of cost-effective treatments for cardiovascular diseases. Pacemakers are increasingly being designed to reduce patient discomfort and are equipped with long lasting batteries and remote accessibility. Breakthroughs made in high-density battery designs and low-power circuitry technology have helped in pacemaker miniaturization.
“Factors such as ease of configuration, enhanced user interface, ease of tracking, recording heart function, and reduced postsurgical complication risks are likely to drive growth of noninvasive external pacemakers. New product launches are increasingly focused on expanding rhythm management diagnostic portfolios,” notes Shilpa Tiku, Chief Research Officer and partner at Verify Markets.
U.S. pacemaker market research numbers include revenues generated from the sales of heart pacemakers. The base year for the study is 2020 and the forecast period is from 2020 until 2027. For purposes of the research, cardiac pacemakers are segmented by application, implantability, MRI-compatibility, and by end user. The key players in the market include Medtronic plc, Abbott Laboratories (St. Jude Medical), Boston Scientific Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, and others. The U.S. pacemaker market report captures market drivers, restraints, competitive trends, market share analysis by revenue, revenue forecasts, market share by application, market share by type, market share by end-user.
Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research, including custom reports and consulting, contact info@verifymarkets.com or call +1 210.595.9687.