External pacemaker is referred to a medical device which uses electrical impulses to heart. It is a cardiac rhythm management device that sets heart rhythm. The external pacemaker can be used where short-term demand is indicated for therapeutic, prophylactic, or diagnostic purposes. External pacemaker is widely used by the hospitals.
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“External Pacemaker Market: Global Demand Analysis & Opportunity Outlook 2024”
The global external pacemaker market is segmented into end-users such as hospitals, cardiac care centers, ambulatory surgical center and others out of which, the hospitals segment is anticipated to have the largest share by 2024 and is expected to seize a significant CAGR during the forecast period i.e. 2017-2024. Further, the growth of this segment is attributed to the high adoption of external pacemaker by numerous hospitals due to rising number of heart related patients.
Apart from this, ambulatory surgical center is also projected to attain a remarkable CAGR by the end of 2024.
Global external pacemaker market is expected to register a significant CAGR of 5.5% over the forecast period.
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Moreover, the global external pacemaker market is anticipated to reach at notable revenue by 2024. The market is expected to expand on the back of rapid urbanization and growing technological advancements in cardiac related healthcare devices.
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The dual chamber temporary pacemaker by product type is projected to mask a considerable CAGR over the forecast period. Apart from this, North America accounted the largest market share, with 41% of global external pacemaker market.
Further, U.S. is the major contributor in the market of external pacemaker due to increasing government initiatives. Apart from this, Europe region also contributed a notable share in the overall external pacemaker market aided by Western Europe countries such as Germany, U.K.
Growing Prevalence of Cardiac Failures
Rising number of cases related to cardiac failure all over the globe and growing demand for advanced healthcare devices for the treatment of heart related issues are believed to be the dynamic factor behind the rapid growth of external pacemaker market. Further, rising old age population is also believed to intensify the growth of external pacemaker market.
Supportive Government Initiatives
Rapid urbanization on the back of positive GDP figures of developed and developing nations is predicted to supplement the growth of external pacemaker market by the end of 2024. Further, increasing funding from government and non-government organizations along with cost effective steps taken by various government is also envisioned to bolster the growth of external pacemaker market.
On the contrary, high cost of external pacemaker and lack of awareness regarding cardiovascular disorders among the population in developing and underdeveloped nations are expected to hamper the growth of external pacemaker market during the forecast period.
The report titled “External Pacemaker Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global external pacemaker market in terms of market segmentation by product type, by application, end-users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global external pacemaker market which includes company profiling of Medtronic, St. Jude Medical, Boston Scientific, Biotronik, Oscor, Galix Biomedical Instrumentation, Osypka Medical, Sorin Group, Abbott and Braile Biomedica.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global external pacemaker market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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