The Global Temporary Pacemakers Market size is expected to showcase substantial growth backed by the increasing prevalence of cardiovascular disorders and the surging adoption of advanced technologies to develop advanced temporary pacemakers worldwide. This information is published by Fortune Business Insights in its latest report, titled, “Temporary Pacemakers Market Size, Share & Industry Analysis, By Product Type (Single Chamber Pacemaker, Dual Chamber Pacemaker, Triple Chamber Pacemaker), By End-user (Hospitals, Specialty Clinics, Others) and regional forecast 2020-2027.”
Thewidespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented economic loss. Owing to the lockdown announced by the government globally, several industries have been on a standstill with suspended operational activities. However, a collective effort from the government as well as the companies is anticipated to bring the economy towards normalcy and aid in resumption of industrial operations.
A temporary pacemaker aids in helping the heartbeat return to normalcy after it has been out of rhythm. In this temporary cardiac pacing system, wires are placed through the chest or neck that is directly connected to the heart of the patient.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships,introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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Increasing Prevalence of Cardiovascular Disorders to Accelerate Growth
According to the data by the Center for Disease Control and Prevention (CDC), about 8 million people suffer a heart attack every year in the U.S. The increasing prevalence of cardiovascular disorders is anticipated to drive the demand for advanced temporary pacemakers across the globe. Furthermore, technological advancements in the temporary pacemakers such as the adoption of the internet of things (IoT) and artificial intelligence to provide better treatment options is expected to contribute to the global temporary pacemakers market in the forthcoming years.
Availability of Advanced Healthcare Facilities in North America to Aid Growth
Among all the regions, North America is expected to hold the highest position in the global temporary pacemakersmarket in the forthcoming years. This is ascribable to factors such as the presence of advanced healthcare infrastructure that is likely to boost the adoption of innovative temporary pacemakers in the region between 2020 and 2027.
The market in Europe is expected to gain momentum owing to the favorable reimbursement policies and the growing awareness regarding temporary pacemakers in the region.
Product Launches by Eminent Companies to Intensify Industry Competition
The global temporary pacemakers market is fragmented by the presence of major companies focusing on maintaining their presence and gaining a competitive edge over their rivals. They are doing so by focusing on introducing advanced temporary pacemakers to cater to the growing demand from the healthcare sector.
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April 2020 – AtaCorMedical, Inc., a leading provider of temporary pacemakers, announced that it has received a USD 25 million funding through the Series B financing to develop advanced extracardiac temporary pacing systems to aid in providing efficient therapies to the patients.
List of the Companies Operating in the Global Market for Temporary Pacemakers:
- Osypka Medical
- Jude Medical
- Shree Pacetronix
- Among others
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