According to research report the pacemakers market is projected to reach USD 4.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 2.0% during the forecast period. The major driving factors in the pacemakers market are increasing prevalence of cardiovascular diseases and technological advancements in devices.
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By type, the MRI compatible pacemaker segment is expected to be the faster-growing in the pacemaker market during the forecast period.
The MRI compatible pacemakers segment is projected to grow at the higher CAGR between 2018 and 2023. This can be attributed to the growing number of patients with implanted pacemaker and the increasing need for MRI scans in the geriatric population, as patients in this age group are more likely to have cardiac devices such as pacemakers.
By implantability, the implantable pacemakers segment is expected to account for the largest market share during the forecast period.
The implantable pacemakers segment is expected to account for the largest market share in 2018, and this trend is expected to continue during the forecast period. The large share of the implantable pacemakers segment is primarily attributed to the increasing prevalence of CVDs and the rising preference for these pacemaker due to their benefits over their external counterparts.
Data Triangulation
After deriving the overall pacemakers market value data from the market size estimation process explained above, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative & quantitative variables as well as by analyzing regional trends for both the demand and supply side macro-indicators.
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Report Objectives
• To define, describe, segment, and forecast the pacemaker market by implantability, type, technology, end user, and region
• To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of market segments in North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
• To profile the key players and comprehensively analyze their core competencies2 in terms of key market developments, product portfolios, and financials
• To track and analyze competitive developments such as acquisitions, product developments, partnerships, agreements, collaborations, and expansions in the market



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