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2021

Pacemaker Market

Pacemaker Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology (Single Chamber Pacemaker, Dual Chamber Pacemaker, and Biventricular/CRT Pacemaker), Implantability (Implantable Pacemaker and External Pacemaker), and End User (Hospitals & Cardiac Centers and Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021--2030

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Author's: Linu Dash | Roshan Deshmukh
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The global pacemaker market size was valued at $4,667.2 million in 2020, and is projected to reach $6,678.2 million by 2030, registering a CAGR of 3.7% from 2021 to 2030. Pacemaker is defined as the medical device, which sends small impulses to heart muscles to maintain suitable heart rate or to stimulate the lower chambers of the hearts. It is used for the treatment of syncope, congestive heart failure, and hypertrophic cardiomyopathy. The pacemaker is implanted by using a surgical procedure named as epicardial or endocardial, which is a minimal invasive process. In this procedure, the incision is made in the chest of the patient and the leads and pacemaker are inserted.

The growth of the global pacemaker market is majorly driven by increase in demand for minimal invasive procedure, rise in funding from private & government organizations for the healthcare sector, and rise in prevalence of cardiovascular diseases. According to Drugs & Diseases, in April 2021, it was reported that permanent pacemaker insertion technique is considered as the minimally invasive procedure. Thus, rise in demand for minimally invasive surgical procedure and increase in adoption of cardiac surgical procedure such as endocardial or epicardial for the implantation of pacemaker drive the growth of the global market. For instance, in 2020, Abbott Laboratories, an American multinational medical device and healthcare company, has spent across $2.42 billion in the R&D sector. According to the World Health Organization (WHO), in 2019, it was reported that 17 million individuals under the age of 70 died due to heart attack. In addition, surge in geriatric population is expected to fuel the market growth during the forecast period. This is attributed to the fact that aged individuals are highly vulnerable to cardiovascular diseases. Moreover, developments in pacemaker propels the growth of the market. For instance, in January 2021, Medtronic Plc., an medical device company, announced the approval of Micra AV, which is the smallest pacemaker with atrioventricular (AV) synchrony.  The micra AV is used for the treatment of patient suffer from AV block. Furthermore, a researcher at Northwestern and George Washington Universities, in 2021, in the U.S., announced the launch of first transient pacemaker, which get dissolved in the body after its use. The pacemaker is wireless, battery-free, and completely implantable pacing device, which offers temporary pacing without the need of surgical extraction. Thus, the presence of key players in healthcare medical devices, favorable government regulation for development of advanced pacemaker, and rise in incidence of hypertension propel the growth of the market.

pacemaker-market-2021-2030

In addition, development of healthcare infrastructure and increase in healthcare spending augment the demand for pacemaker, which boosts the growth of the market. For instance, in February 2021, the government has increased the healthcare spending from 1.2% to 2.5% of GDP in India, which was planned to be invested in modernization and creation of healthcare infrastructure.

However, high cost of pacemaker implantation procedure and risk associated with pacemaker such as infection at the site of surgery, pneumothorax, and bleeding are expected to restrict the market growth during the forecast period.

Pacemaker Market Segmentation

The global pacemaker market is segmented into technology, implantability, end user, and region. By technology, the market is categorized into single-chamber pacemaker, dual-chamber pacemaker, and biventricular/CRT pacemaker.

On the basis of implantability, the market is divided into implantable pacemaker and external pacemaker. Depending on end user, it is fragmented into hospitals & cardiac centers and ambulatory surgical centers.

Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment review

Depending on technology, the dual chamber pacemaker segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in prevalence of bradycardia, presence of key players, and rise in geriatric population. However, the biventricular segment is expected to witness considerable market growth during the forecast period, owing to increase in demand for remote monitoring services, rise in prevalence of hypertension, and surge in number of smartphone users

Pacemaker Market
By Technology
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Dual-Chamber Pacemaker segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

On the basis of implantability, the implantable pacemaker segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in incidence of bradycardia, rise in demand for implantable pacemaker, and advancement in R&D activities in the healthcare sector. However, the external pacemaker segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of heart disease, rise in the geriatric population, and development of technology in the healthcare industry.

Pacemaker Market
By Implantability
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Implantable Pacemaker segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

By end user, the hospital & cardiac centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in number of hospital & cardiac centers, rise in prevalence of cardiac diseases, and surge in number of cardiac surgical procedures. However, the ambulatory surgical centers segment is expected to witness considerable growth during the forecast period, owing to rise in prevalence of heart disease, development in ambulatory surgical centers, and initiatives taken by the government for the development of the healthcare sector.

Pacemaker Market
By End User
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Hospital & Cardiac Centers segment is projected as one of the most lucrative segment.

Europe accounted for a major share in the pacemaker market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of cardiovascular diseases, such as arrhythmia, advancements in technology in diagnostic instruments, and surge in demand for minimally invasive implantation of pacemaker in the region. However, Asia-Pacific is expected to register highest CAGR of 4.1% from 2021 to 2030, owing to rise in prevalence of cardiovascular disease, increase in investment in the healthcare sector, and technological advancement in healthcare facilities for cardiac treatment & diagnosis.

Pacemaker Market
By Region
2030
Europe 
North America
Asia-Pacific
LAMEA

Europe was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.

The key players operating in the global pacemaker market include Abbott Laboratories, BIOTRONIK, Boston Scientific Corporation, Lepu Medical, Livanova, MEDICO SpA, Medtronic, Oscor Inc., Osypka Medical GmbH, and Shree Pacetronix.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the pacemaker market, and the current trends and future estimations to elucidate imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the market based on procedures and services assists to understand the trends in the pacemaker industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the pacemaker market.

KEY MARKET SEGMENTS

By Technology

  • Single Chamber Pacemaker
  • Dual Chamber Pacemaker
  • Biventricular/CRT Pacemaker

By Implantability

  • Implantable Pacemaker
    • Hospital & Cardiac Centers
    • Ambulatory Surgical Centers
  • External Pacemaker
    • Hospital & Cardiac Centers
    • Ambulatory Surgical Centers

By End User

  • Hospitals & Cardiac Centers
  • Ambulatory Surgical Centers

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • Australia
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

KEY MARKET PLAYERS

  • Abbott Laboratories
  • BIOTRONIK
  • Boston Scientific Corporation
  • Lepu Medical
  • Livanova
  • MEDICO SpA
  • Medtronic
  • Oscor Inc.
  • Osypka Medical GmbH
  • Shree Pacetronix

Pacemaker Market Report Highlights

Aspects Details
Pacemaker Market By TECHNOLOGY
By TECHNOLOGY
  • Single-chamber Pacemaker
  • Dual-chamber Pacemaker
  • Biventricular/CRT Pacemaker
Pacemaker Market By IMPLANTABILITY
By IMPLANTABILITY
  • Implantable Pacemaker
  • External Pacemaker
Pacemaker Market By END USER
By END USER
  • Hospitals & Cardiac Centers
  • Ambulatory Surgical Centers
Pacemaker Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

Osypka Medical GmbH, Oscor Inc., Medtronic plc, Biotronik SE & Co. KG, Boston Scientific Corporation, Abbott Laboratories, Shree Pacetronix Ltd., Lepu Medical Technology (Beijing) Co., Ltd., Livanova, plc, Medico SpA

Analyst Review

Growth of the pacemaker market is attributed to factors such as technological advancements in the healthcare sector; rise in prevalence of cardiovascular diseases such as arrhythmia, heart failure, and heart attack; increase in funds from private and government organizations in various research activities; and surge in demand for minimally invasive procedure. The pacemaker market gains interest of healthcare information technology companies, owing to surge in demand for single chamber pacemaker, dual chamber pacemaker, and biventricular pacemaker. This leads to increase in adoption of pacemaker devices. Moreover, the market has gained high traction in pacemaker services by hospital & cardiac centers in recent years, as pacemaker devices are used in the management and treatment of heart disease.

Further, North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of cardiovascular diseases, the presence of key players for development of advanced pacemaker, and technological advancement in the healthcare sector.

Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to rise in prevalence of heart disease, increasing investment in healthcare sectors, and technological advancement in healthcare facilities for cardiac treatment and diagnosis.

In addition, high cost of pacemaker implantation procedure and risks associated with pacemaker such as infection at the site of surgery and bleeding are anticipated to restrain the market growth during the forecast period.

 

Author Name(s) : Linu Dash | Roshan Deshmukh
Frequently Asked Questions?

The total market value of pacemaker market is $4,667.2 million in 2020.

The forecast period in the report is from 2021 to 2030

The market value of pacemaker Market in 2021 was $4802.5 million

The base year for the report is 2020.

Yes, pacemaker companies are profiled in the report

The top companies that hold the market share in pacemaker market are Abbott Laboratories, BIOTRONIK, Boston Scientific Corporation, Lepu Medical, Livanova, MEDICO SpA, Medtronic, Oscor Inc., Osypka Medical GmbH, and Shree Pacetronix

No, there is no value chain analysis provided in the pacemaker market report

The key trends in the pacemaker market are growth in increase in the prevalence of cardiovascular diseases, such as arrthymia, heart attack, and heart failure, rise in government initiative for development of medical device, surge in demand for minimal invasive procedure, advancement in the technology of healthcare, and rise in adoption of biventricular devices for treatment of heart failure

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Pacemaker Market

Global Opportunity Analysis and Industry Forecast, 2021--2030