Pacemakers Market Size, Growth, Share, Report By 2032

The global pacemakers market size was valued at USD 5.83 billion in 2023 and is expected to hit around USD 9.44 billion by 2032 with a registered CAGR of 5.50% from 2023 to 2032.

Key Points

North America led the global market with the highest market share of 44% in 2022.
By Product, the internal pacemakers segment has held the largest market share of 62% in 2022.
By Type, the Conventional Pacemakers segment captured the biggest revenue share of 53% in 2022.
By Implantability, the implantable segment is estimated to hold the highest market share in 2022.
By Application, the Arrhythmias segment registered the maximum market share of 39% in 2022.
By End-use, the hospital & cardiac centers segment generated over 62% of revenue share in 2022.

Arrhythmia influences all age gatherings, yet the gamble of creating atrial fibrillation (AF) increments with age. According to Heart Disease and Stroke Statistics 2019, the gamble of long haul atrial fibrillation is assessed to be 1 of every 3 white individuals in the United States. Likewise, the utilization of liquor, tobacco, inactive ways of life, and sure non-prescription medications might expand the gamble of arrhythmia. The United States has become home to many vital participants, for example, Abbott Laboratories and Boston Scientific Corporation, which assume a critical part in the turn of events, development, and promoting of heart providers. Hence, the North American cardiovascular market is supposed to observe critical development during the gauge time frame because of such factors.

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Report Highlights

The internal pacemakers segment held the greatest part of more than 61% of the pacemakers’ market in 2021. The creating revenue for these contraptions for the treatment of cardiovascular breakdown and arrhythmias as well as advancing clinical fundamentals is a primary thought-provoking business sector improvement.
The implantable pacemaker segment administered the market in 2021, and should continue with this example during the gauge time period, owing to augment in event of bradycardia, climb pursued for implantable pacemaker, and progress in R&D practices in the clinical consideration region.
The arrhythmias segment overpowered the pacemakers’ market and held the greatest pay piece of 38% in 2021. The piece is furthermore divided into atrial fibrillation, heart block, and long QT condition. Factors, for instance, lifestyle issues, superfluous alcohol usage, smoking, and weight are adding to the prevalence of cardiovascular arrhythmia
The medical clinics and cardiovascular centers piece held a predominant part of around 61% in 2021. Crisis facilities and cardiovascular centers offer preferred thought over their patients while they are surrendered.

Table of Contents

Report Scope of the Pacemakers Market

Report Coverage	Details
Market Size by 2032	USD 9.44 Billion
Growth Rate from 2023 to 2032	CAGR of 5.50%
North America Market Share in 2022	44%
Conventional Pacemakers Market Share in 2022	53%
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Product, Type, Implantability, Application, End-use, Geography

Pacemakers Market Dynamics

Drivers

The advancement of the overall pacemaker market not entirely set in stone by development well known for irrelevant prominent technique, rise in supporting from private and government relationship for the clinical benefits region, and climb in inescapability of cardiovascular disorders. According to Drugs and Diseases, in April 2020, it was represented that very solid pacemaker expansion technique is considered as the unimportantly prominent strategy. Along these lines, climb pursued for irrelevantly prominent medical procedure and extension in gathering of heart medical procedure, for instance, endocardial or epicardial for the implantation of pacemaker drive the improvement of the overall market. For instance, in 2020, Abbott Laboratories, an American overall clinical device and clinical association, has spent across $2.42 billion in the R&D region. According to the World Health Organization (WHO), in 2019, it was represented that 17 million individuals more youthful than 70 kicked the pail in view of respiratory disappointment.

Restraints

Lack of awareness in regards to cardiovascular problems among the populace in emerging nations, significant expense of treatment and high pace of item reviews because of gadget failing are supposed to limit development of the market over the conjecture period. Center around new gadget dispatches approaches and advancement of quick, solid and practical indicative strategies will characterize the future scene of cardiovascular pacemaker market.

Opportunities

The developing innovative advances and item endorsements drive the section’s development. For instance, in July 2020, Abbott Laboratories got endorsement from the US Food and Drug Administration for its Gallant line, which incorporates an embedded cardioverter-defibrillator and a heart resynchronization treatment defibrillator with Bluetooth innovation. High level elements in pacemaker innovation, for example, distant information GPS beacons, secure attractive reverberation imaging (MRI) gadgets, and information recording usefulness, support the portion’s development.

Challenges

The COVID-19 pandemic eased back the development of the cardiovascular market. Because of the great pace of disease and the absence of treatment, numerous nations are enduring and keep on worrying about a weighty concern on their economies and medical services frameworks. Numerous nations had recently closed down and quit exchanging with different nations because of movement limitations, prompting a stoppage for enormous organizations around the world. The American College of Surgeons and the American Society of Anesthesiologists suggested a nonstop decrease in the pace of new instances of COVID-19 14 days before the resumption of unique medical procedure.

Key Market Developments

In June 2021, Medtronic sent off the Micra AV, an independent, scaled down pacemaker for conveying progressed pacing innovation for atrioventricular (AV) block patients through a negligibly obtrusive methodology.
in May 2020, the home checking framework by BIOTRONIK offered a financially savvy and safe distant administration of pacemaker patients at the Large Multi-Center Study.
In November 2017, Medtronic got FDA endorsement and sent off the Azure pacemaker with BlueSync innovation in the US market
In March 2016, St. Jude Medical got the CE Mark accreditation for MRI similarity for its Nanostim leadless pacemakers.
The key market players are constantly engaged in various developmental strategies like partnership, collaborations, new product launches, and acquisitions to strengthen their market position and gain market share.

Pacemakers Market Companies

Boston Scientific Corporation
Zoll Medical Corporation
Medtronic
BIOTRONIK
MicroPort Scientific Corporation
Cook Medical
MEDICO SpA
Pacetronix
Oscor Inc.
Osypka Medical GmbH
St. Jude Medical Inc.
LivaNova PLC.
lepumedical.com
Osypka Medical GmbH
MEDICOWEB
Others

Segments Covered in the Report

By Product

Internal pacemakers
- Single Chamber
- Dual Chamber
- Biventricular Chamber
External pacemakers

By Type

MRI Compatible Pacemakers
Conventional Pacemakers
Customary Pacemakers

By Implantability

Implantable Pacemaker
Hospital & Cardiac Centers
Ambulatory Surgical Centers

By Application

Arrhythmias
- Atrial Fibrillation
- Heart Block
- Long QT Syndrome
Congestive Heart Failure
Others

By End-use

Hospitals & Cardiac Centers
Ambulatory Surgical Centers
Others

By Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa