The global temporary pacemaker market size was significantly large in 2022, and is expected to continue to register a rapidly inclining revenue CAGR between 2023 and 2032. Key factors responsible for driving market revenue growth are increasing need to manage severe ventricular tachyarrhythmias, bradyarrhythmia, and acute myocardial infarction.
The global temporary pacemaker market faces numerous economic and technological challenges. Temporary pacemaker helps a person’s heartbeat to return to its normal pace if it is temporarily out of rhythm. During temporary pacing of the heart, cables are inserted into the throat or neck via chest and are linked with the heart directly. These wires are connected to an external box which provides the heart with a stream to normal blowing.
Temporary pacemaker is used in patients with insufficient cardiac pumping of blood around their body to maintain a normal heart rate. That can happen when the heart fails to beat, in slow or fast rhythms. Temporary pacemaker may be used following an acute cardiac infarction, when a pacemaker is inserted to override an undesirable rhythm after a cardiovascular surgery to make the heartbeat faster. For days or weeks, temporary pacemakers can be used. It is a small box inserted into the chest. However, if the rhythm of an individual’s heartbeat has long-term problems, a permanent pacemaker may be needed.
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Major Factors Driving Growth Of The Global Temporary Pacemaker market:
Revenue growth of the global temporary pacemaker market is significantly driven by several major factors, including rising ageing population, increasing incidence of heart diseases, and ongoing technological advancements. Other factors driving the global temporary pacemaker market include government initiatives and improvements in reimbursement policy, growing populations in developing countries, such as India and China.
Factors Restraining Growth Of The Global Temporary Pacemaker market:
Temporary pacemakers may often cause capture or output failure. Aside from failing to pace the required chamber of the heart, these pacemakers can also fail when these are unable to detect innate signals generated in the heart. Lead displacement is a common problem with temporary pacemakers that can cause malfunctions. Furthermore, CRTs, leads, implantable artificial organs, and software flaws may also hinder the temporary pacemaker market growth.
Opportunities For Players Operating In The Global Temporary Pacemaker market:
In India and China, various renowned players are striving persistently to develop temporary pacemakers at lower costs. Increasing per-capita incomes, high population, and changing lifestyles are surging the prevalence of heart diseases in these countries. Also, companies are focusing on creating novel temporary pacemakers that can detect any innate signal. These factors are likely to create new growth opportunities for key companies in the global temporary pacemaker market
Global Temporary Pacemaker Market Revenue Led By Product Type Segment:
Based on product type, the temporary pacemaker market is segmented into single chamber, dual chamber, and triple chamber. Presence of multiple leads to assure normal physiology of the heart and lower post-surgical complications are anticipated to propel the single and dual chamber segments in the upcoming years.
Global Temporary Pacemaker Market Leading End-use Segment:
By end-use, the temporary pacemaker market is segmented into hospitals, specialty clinics, and others. Amongst these, the hospitals segment dominated the market in 2020 as these facilities provide superior care to patients and reimburse them for surgeries. The specialty clinics is also set to grow considerably, owing to ease of treatment and increasing presence in rural areas. Besides, increasing need to reduce surgical and post-surgical costs, while surging quality of life would also propel this segment’s growth.
North America Accounts For Largest Revenue Share In Global Temporary Pacemaker market:
North America dominates the temporary pacemaker market due to increasing prevalence of cardiac diseases and technological advancements in the region. In addition, early adoption of state-of-the-art technology is expected to drive the temporary pacemaker market in this region.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
Asia-Pacific is anticipated to showcase the fastest CAGR in the temporary pacemaker market during the forecast period. Rising focus of key players to expand in emerging markets, increasing government & private expenditure for the development of healthcare infrastructure, changing lifestyles, and higher prevalence of hypertonia and cardiovascular diseases, especially in India and China are expected to propel regional growth. Both countries are considered to be the major growth contributors, owing to improvements in healthcare facilities, rising government funding, and large pool of patients.
Major Companies Profiled In The Report:
- Osypka Medical
- Jude Medical
- Shree Pacetronix
Strategies And Objectives Of Major Companies:
- Medtronic recently introduced temporary pacemaker models 5392 and 53401, along with next generation temporary external pacemakers for managing bradycardia. These models have enhanced user interface, improved low battery indicator, and features that can be configured easily. Also, these pacemakers are easy to configure & operate, provide a simple & familiar user experience, have seven-year service life, require fewer manual device adjustments, maintain stable output, and can adjust pacing output voltage in response to changes in lead impedance.
- In March 2021, FDA reviewed a large number of pacemakers sold by Abbott in the course of recent years. Electrical shorts that set off the review made the gadgets stop the heart pacing, reported incorrect data to specialists, or channeled the battery quicker than anticipated. This was because of the danger of electrical shorts that can result from the dampness getting inside gadgets.
- In February 2020, Medtronic plc. got US FDA approval for its Leadless Micra AV, the world’s smallest pacemaker with Atrioventricular (AV) synchrony.
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This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, global temporary pacemaker market is segmented on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Single Chamber Pacemaker
- Dual Chamber Pacemaker
- Triple Chamber Pacemaker
End-use Outlook (Revenue, USD Billion; 2023-2032)
- Specialty Clinics
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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