Pacemaker Market Overview in Iceland
Market Overview
The Icelandic pacemaker market contracted slightly to $
in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of % y-o-y. Pacemaker consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.
in 2019, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of % y-o-y. Pacemaker consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.Consumption
After two years of growth, consumption of pacemakers for stimulating heart muscles (excl. parts and accessories) decreased by -% to units in 2019. In general, consumption saw a deep downturn. The growth pace was the most rapid in 2017 when the consumption volume increased by % against the previous year. Over the period under review, consumption reached the peak volume at units in 2007; however, from 2008 to 2019, consumption remained at a lower figure.
The size of the pacemaker market in Iceland dropped slightly to $ in 2019, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of % y-o-y. Pacemaker consumption peaked at $ in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.
% to units in 2019. In general, consumption saw a deep downturn. The growth pace was the most rapid in 2017 when the consumption volume increased by % against the previous year. Over the period under review, consumption reached the peak volume at units in 2007; however, from 2008 to 2019, consumption remained at a lower figure.The size of the pacemaker market in Iceland dropped slightly to $
in 2019, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of % y-o-y. Pacemaker consumption peaked at $ in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.Market Forecast
Depressed by shrinking demand for pacemaker in Iceland, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Trade Balance
Iceland remains a net importer of pacemaker; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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