(MENAFN- America News Hour) Leadless Pacemakers market report delivers detailed overview of the global leadless pacemakers market in terms of market segmentation by technology 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.
The global leadless pacemakers market is segmented into type such as multi-component leadless pacemaker and single component leadless pacemaker. However, current leadless pacemaker Technology is limited to single chamber pacing. Apart from this, future generation technologies are expected to progress multi component or multi chamber leadless pacemaker. Among these segments, single component leadless pacemaker segment is anticipated to experience considerable growth during the forecast period. Increasing number of patients suffering from arrhythmia diseases is anticipated to be the major factor behind the growth of this segment.
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Global leadless pacemakers
market is expected to register
a robust CAGR over the forecast period. Moreover, the global leadless pacemakers market is expected to reach at notable revenue by the end of 2024. The market is expected to expand on the back of increasing number of patients with brady-arrythmias and slow heart rhythms across the globe. Moreover, rising prevalence of cardiovascular diseases is also a major factor which is anticipated to fuel the demand for leadless pacemakers in near future.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
Major players include in the global Leadless Pacemakers Market:
Medtronics Boston Scientific Edwards Lifesciences Sorin Group Vitatron Lepu Medical Terumo Corp.
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The North America segment by region is likely to grow at considerable pace during the forecast period. Better healthcare infrastructure and increasing healthcare expenditure are likely to be the major factors behind the growth of market in North America region.
Increasing Prevalence of Cardiovascular Diseases
According to American Heart Association, cardiovascular disease is the leading global cause of death in United States. In addition to this, around 17.3 Million people die due to heart diseases in U.S. every year and are expected to grow to more than 23.6 Million by 2030. Apart from this, slow heart rate of patients is one of the major causes of deaths around the world. Further, increasing prevalence of heart diseases and rising number of deaths due to cardiovascular diseases across the globe are anticipated to fuel the growth of global leadless pacemaker market over the forecast period.
Technological Advancements in Healthcare Sector
Enhancements in healthcare sector, introduction of innovative & advanced medical procedures such as leadless pacemakers which are lifesaving, more reliable, effective and cost efficient are envisioned to drive the demand for leadless pacemakers in near future. Moreover, easy installation of leadless pacemakers as compared to conventional pacemakers is also a major factor which is propelling the growth of leadless pacemakers market.
However, high cost of leadless pacemakers as compared to conventional pacemakers is likely to inhibit the growth of the leadless pacemakers market in the near future.
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