The report on the Implantable Pulse Generator Market is segmented By Product (Implantable cardiac pacemakers, Implantable defibrillators, Cochlear implants, Implantable nerve stimulators (FES) [Limb function stimulation, Bladder stimulators, Sphincter stimulators, Diaphragm stimulators, Analgesia], Implantable infusion pumps, Implantable active monitoring devices), By Application (Neurovascular Diseases, Cardiovascular Diseases, Orthopedic), By End Use (Hospitals, Ambulatory Surgical Centers, Home Care Settings, Clinics) and Region – COVID-19 Impact Analysis and Forecast to 2026. The historic years considered for the study are 2016-2019, the base year is 2020, and the forecast period is 2021-2026.
The Implantable Pulse Generator market is projected to grow from USD 85.2 billion in 2020 to USD 136.8 billion by 2026 at a CAGR of around 8.4% during the forecast period.
Some of the major players operating in the global Implantable Pulse Generator Market are-
- Medtronic (Ireland)
- Boston Scientific Corporation (US)
- St. Jude Medical (US)
- Synapse Biomedical (US)
- Nevro Corporation (US)
- Neurosigma (US)
- Neuropace (US)
- Cyberonics (US)
- BioControl Medical (Israel)
The report provides critical insights into the market dynamics that enables strategic decision making that is critical to the growth of the existing players as well as those planning to enter the market. This report offers an improvised approach to consolidate the growth decisions by covering the following features –
- Market structure – as it reflects the value chain of different commodities in the market.
- Drivers and Constraints – as both can affect any element of the marketing mix — product, budget, and place, etc.
- Market Forecast – a part of the decision-making process. This helps users with facts regarding projected sales dimensions, costs, market shares, and other areas of planning.
- Competitive landscape and dynamics: The user can determine the strengths and gaps. The information mentioned here will work towards enhancing the brand’s strategy.
- Growth strategies – allowing a small business to survive unexpected changes, and to grow into a bigger entity, and gain a greater competitive advantage.
The report covers maximum factors that affect the Implantable Pulse Generator Market. According to this report,
The growing prevalence of diseases and rising demand for innovative alternate therapies are some of the key factors augmenting the demand for implantable pulse generators. Also, other significant drivers propelling the increasing penetration of implantable pulse generators include ease of implants with good reimbursements, better clinical performance, higher patient awareness, and advancing technology. Moreover, the market is likely to grow at a steady pace due to rising use to treat a wide range of medical conditions and diseases during the review period.
By application, the implantable pulse generator market has been classified into neurovascular diseases, cardiovascular diseases, and orthopedic. Under these, the cardiovascular diseases segment accounted for a significant market share in 2020 and is projected to register significant growth during the review period. This is mainly attributed to growing incidences of cardiovascular diseases (CVDs), the rising cost of cardiac disease management, favorable government policies, and the emergence of technologically advanced pacemakers, which further fosters segment growth.
By region, the market in North America accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. This is mainly ascribed to the rising prevalence of chronic ailments and cardiovascular diseases, robust healthcare infrastructure, the higher diagnosis rate of the patients, increasing healthcare expenditure, higher adoption of Neuromodulation in disease management, and a large number of home healthcare facilities, which further proliferates the regional market growth.
Critical Questions Answered in the Report
- What are the key trends in the global Implantable Pulse Generator Market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
- What is the impact of COVID-19 on global Implantable Pulse Generator Market?
- What are the key strategies adopted by the major vendors to lead in the global Implantable Pulse Generator Market?
- What is the market share of the top vendors?
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