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Pacemakers Market Insights, Competitive Landscape and Market Forecast - 2027

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    Report

  • 100 Pages
  • July 2022
  • Region: Global
  • DelveInsight
  • ID: 5526075
This “Pacemakers Market Insights, Competitive Landscape, and Market Forecast 2027” report delivers an in-depth understanding of the Pacemaker and the historical and forecasted market size, ongoing developments, emerging devices, and key companies operating in the global market.

Global Pacemakers Market was valued at USD 4.88 billion in 2021, growing at a CAGR of 5.85% during the forecast period from 2022 to 2027, to reach USD 6.84 billion by 2027. The demand for Pacemakers is primarily motivated due to the rise in cardiovascular diseases (CVDs), superior treatment outcomes of sudden cardiac arrests, and growing technological advancements.

Pacemakers Market Dynamics:


Pacemakers Market has significantly increased due to the increasing prevalence of cardiovascular diseases, which leads to the demand in the market for pacemakers. According to Pan American Health Organization (PAHO), cardiovascular diseases cause more deaths each year than any other disease. Heart disease and stroke-related fatalities account for more than three-quarters of all deaths in low- and middle-income nations, as of June 2021. Thus, the burgeoning cases of cardiovascular diseases will contribute to the market growth.

Moreover, the companies are increasing their research and development by bringing new and innovative technological advancements for medical devices products. Physicians have long been taught that MRI and implanted cardiac devices don't mix and are thus contraindicated. However, patients who have an active cardiac device that is MR conditional can now receive MRI when necessary. Similarly, several technological advancements like tracking device data through wireless remote monitoring systems; longer battery life, reduce battery power consumption technology; data recording functionality and the introduction of leadless pacemaker systems will boost the market growth. For instance, in October 2020, Medtronic launched the Azure™ with BlueSync™ Technology pacemaker that can communicate directly with smartphones and tablets.

It is predicted that the rising number of elderly patients would transform healthcare delivery and create a larger demand for pacemakers. As per the recent survey, Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure for such patients is expected to double and reach 1.5 billion by 2050. Thus, all these factors are projected to drive the growth of the Global Market for Pacemakers.

Pacemakers Market Segment Analysis:


Pacemakers market by Implantability (Implantable Pacemaker- Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular/CRT Pacemaker, and External Pacemaker), Pacemakers market by Device Type (MRI Compatible Pacemaker, Leadless MRI Compatible Pacemaker), Pacemakers market by End-User (Hospitals, Cardiac Centres, Ambulatory Surgical Centres, Others), and Pacemakers market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Pacemakers market implantability segment, the implantable pacemakers market segment is expected to hold the largest share in the market and this trend is expected to continue during the forecast period. The rapid growth of this implantability segment can be attributed to the preference these pacemakers have over their external counterparts. In the type of device segment, the biggest trendsetter in pacemaker technology in the last few years has been the introduction of US Food and Drug Administration (FDA)-cleared MRI compatible models, as these pacemakers minimize heating potential, dislodgement, current induction, and electromagnetic interference. These allow patients to undergo MR imaging exams without harm to the device or changes to the device settings. Pacemakers without MRI-conditional use technology usually prevented patients from being able to get an MRI.

The market is driven by the factors, such as the increase in the prevalence of heart disease, a growing aging population who are very susceptible to coronary heart disease, technological developments in pacemakers that minimize the chances of heart failure, and improved efficiency of devices. In July 2020, Abbott received FDA approval for its new generation of connected Pacemakers and defibrillator implants. The MRI-compatible Gallant devices were launched in Europe in February same year, after Abbott received a CE mark, expanding its portfolio in the Pacemakers domain.

Additionally, assistance from government bodies, favorable reimbursement, increased government expenditure for research and development, is expected to enhance the market potential in several countries. Therefore, such initiatives from the government are expected to help the market and the patients in their treatment which will drive the Pacemakers market growth also.

North America is expected to dominate the overall Pacemakers Market:


North America is expected to dominate the overall Pacemakers market during the forecast period. This domination is due to the growing demand for advanced technologies in Pacemakers, the increased cardiovascular diseases in the region, and others are driving the regional growth.

Further, in the United States, now all pacemaker manufacturers only offer MRI-safe device technologies. The risk of being affected by a chronic disease is increasing dramatically due to the rising geriatric population, as per the National Institute of Environmental Health Sciences. This indicates that most Americans are likely to be affected by chronic disease, in the coming decades. This situation is giving rise to a critical need for Pacemakers for the prevention, and treatment of the disease.

Europe and Asia-Pacific region have the future potential growth for the Global Pacemakers market. This is due to the rising burden of cardiovascular diseases in the European region countries and Asia countries also. In all countries, chronic illness rates have been increasing. Several reports have been released annually, mentioning that significant portions of the population in the European Union and the United States (including in the developed market) suffer through more than one chronic disorder, such as hypertension, cardiac arrhythmias, for a prolonged period, thus there is an enormous potential for Pacemakers market growth.

According to the Centres for Disease Control and Prevention (CDC), in 2021, heart defects are the most common type of birth defect, affecting nearly 1% of births - or about 40,000 births - per year in the United States. As per Centres for Disease Control and Prevention (2021), it is estimated that more than two million people in the United States are living with heart defects, which in turn, will increase the demand for Pacemakers Market.

Pacemakers Market Key Players:


Over the years, the demand for Pacemaker Surgery has grown immensely worldwide. To fulfil the demand, MedTech companies are actively working in the domain. Some of the leading Pacemakers companies in the market include Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, LivaNova PLC, Shree Pacetronix Ltd., OSCOR Inc., MEDICO S.p.A., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation and others.

Recent Developmental Activities in The Pacemakers Market:


In June 2021, Medtronic launched the world's smallest pacemaker to treat heart block. Micra AV with atrioventricular synchrony is the first pacemaker that can sense atrial activity without a lead or device in the upper chamber of the heart. The in-house created pacemaker is small enough to go inside the heart via a catheter. This will prove as a game-changer in the Pacemakers market.

In June 2020, Medtronic PLC announced it has received CE Mark for Micra™ AV Transcatheter Pacing System (TPS), the world's smallest pacemaker with atrioventricular (AV) synchrony.

Key Takes Away from the Pacemakers Market Report Study
  • Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Pacemakers market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the Global Pacemakers Market.
  • Various opportunities are available for the other competitor in the Pacemakers Market space.
  • What are the top-performing segments in 2021? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Pacemakers market growth in the coming future?

Target Audience who can be benefited from this Pacemakers Market Report Study

  • Pacemakers providers
  • Research organizations and consulting companies
  • Pacemakers related organization, association, forum, and other alliances
  • Government and corporate offices
  • Start-up companies, venture capitalists, and private equity firms
  • Distributors and Traders in Pacemakers
  • Various End-users want to know more about the Pacemakers Market and the latest technological developments in the Pacemakers market.

Frequently Asked Questions for Pacemakers Market:


What is Pacemakers?

A pacemaker is a small device that's placed in the chest or abdomen to help control abnormal heart rhythms. This device uses electrical pulses to prompt the heart to beat at a normal rate. A pacemaker can relieve some arrhythmia symptoms, such as fatigue and fainting. It can also help a person who has abnormal heart rhythms resume a more active lifestyle.

What is the market for Global Pacemakers?

Global Pacemakers Market was valued at USD 4.88 billion in 2021, growing at a CAGR of 5.85% during the forecast period from 2022 to 2027, to reach USD 6.84 billion by 2027.

What are the drivers for Global Pacemakers?

The major drivers driving the demand for Pacemakers are rise in cardiovascular diseases (CVDs), superior treatment outcomes of sudden cardiac arrests, growing technological advancements, increasing patient awareness regarding early-stage diagnosis, and increasing geriatric population.

What are the key players operating in Global Pacemakers?

Some of the key market players operating in the Pacemakers market include Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, LivaNova PLC, Shree Pacetronix Ltd., OSCOR Inc., MEDICO S.p.A., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation and others.

What regions has the highest share in Pacemakers market?

North America is expected to dominate the overall market during the forecast period, 2022 to 2027. This domination is due to the growing demand for advanced technologies in Pacemakers, the increased cardiovascular diseases in the region are driving the growth of Pacemakers market.
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Table of Contents

1. Pacemakers Market Report Introduction

2. Pacemakers Market Executive summary
2.1 Scope of the Study
2.2 Market at Glance
2.3 Competitive Assessment
2.4 Financial Benchmarking

3. Regulatory and Patent Analysis
3.1 The United States
3.2 Europe
3.2.1 Germany
3.2.2 France
3.2.3 Italy
3.2.4 Spain
3.2.5 The U.K.
3.3 Japan

4. Pacemakers Market Key factors analysis
4.1 Pacemakers Market Drivers
4.1.1 The outbreak of the Covid-19 pandemic
4.1.2 Rise in cardiovascular diseases (CVDs)
4.1.3 Superior treatment outcomes of sudden cardiac arrests
4.1.4 Growing technological advancements
4.2 Pacemakers Market Restraints and Challenges
4.2.1 Rising costs of pacemakers
4.2.2 Device recalls due to safety issues
4.3 Pacemakers Market Opportunities
4.3.1 Preference for small size and compact pacemakers
4.3.2 Use and availability of bioabsorbable pacemakers

5. Pacemakers Porter's Five Forces Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Consumers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry

6. COVID-19 Impact Analysis on Pacemakers Market

7. Pacemakers Market layout
7.1 By Implantability
7.1.1 Implantable Pacemaker
7.1.1.1 Single-chamber Pacemaker
7.1.1.2 Dual-chamber Pacemaker
7.1.1.3 Biventricular/CRT Pacemaker
7.1.2 External Pacemaker
7.2 By Device Type
7.2.1 MRI Compatible Pacemaker
7.2.2 Leadless MRI Compatible Pacemaker
7.3 By End-user
7.3.1 Hospitals
7.3.2 Cardiac Centers
7.3.3 Ambulatory Surgical Centers
7.3.4 Others
7.4 By Geography
7.4.1 North America
7.4.1.1 North America Pacemakers Market, by Implantability
7.4.1.2 North America Pacemakers Market, by Device Type
7.4.1.3 North America Pacemakers Market, by End-user
7.4.1.4 North America Pacemakers Market, by Country
7.4.1.4.1 United States
7.4.1.4.2 Canada
7.4.1.4.3 Mexico
7.4.2 Europe
7.4.2.1 Europe Pacemakers Market, by Implantability
7.4.2.2 Europe Pacemakers Market, by Device Type
7.4.2.3 Europe Pacemakers Market, by End-user
7.4.2.4 Europe Pacemakers Market, by Country
7.4.2.4.1 France
7.4.2.4.2 Germany
7.4.2.4.3 United Kingdom
7.4.2.4.4 Italy
7.4.2.4.5 Spain
7.4.2.4.6 Russia
7.4.2.4.7 Rest of Europe
7.4.3 Asia-Pacific
7.4.3.1 Asia-Pacific Pacemakers Market, by Implantability
7.4.3.2 Asia-Pacific Pacemakers Market, by Device Type
7.4.3.3 Asia-Pacific Pacemakers Market, by End-user
7.4.3.4 Asia-Pacific Pacemakers Market, by Country
7.4.3.4.1 China
7.4.3.4.2 Japan
7.4.3.4.3 India
7.4.3.4.4 Australia
7.4.3.4.5 South Korea
7.4.3.4.6 Rest of Asia Pacific
7.4.4 Rest of the World (RoW)
7.4.4.1 RoW Pacemakers Market, by Implantability
7.4.4.2 RoW Pacemakers Market, by Device Type
7.4.4.3 RoW Pacemakers Market, by End-user
7.4.4.4 RoW Pacemakers Market, by Region
7.4.4.4.1 Middle East
7.4.4.4.2 Africa
7.4.4.4.3 South America

8. Pacemakers Global Company Share Analysis - Key 3-5 Companies

9. Pacemakers Company and Product Profiles
9.1 Medtronic, Inc.
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Financial Overview
9.1.4 Product Listing
9.1.5. Entropy
9.2 St. Jude Medical, Inc.
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Financial Overview
9.2.4 Product Listing
9.2.5. Entropy
9.3 Boston Scientific Corporation
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Financial Overview
9.3.4 Product Listing
9.3.5. Entropy
9.4 Biotronik SE & Co. KG
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Financial Overview
9.4.4 Product Listing
9.4.5. Entropy
9.5 LivaNova PLC
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Financial Overview
9.5.4 Product Listing
9.5.5. Entropy
9.6 Shree Pacetronix Ltd.
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Financial Overview
9.6.4 Product Listing
9.6.5. Entropy
9.7 OSCOR Inc.
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Financial Overview
9.7.4 Product Listing
9.7.5. Entropy
9.8 MEDICO S.p.A.
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Financial Overview
9.8.4 Product Listing
9.8.5. Entropy
9.9 Lepu Medical Technology Co. Ltd.
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Financial Overview
9.9.4 Product Listing
9.9.5. Entropy
9.10 MicroPort Scientific Corporation
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Financial Overview
9.10.4 Product Listing
9.10.5. Entropy
9.11 Cook Medical
9.11.1. Company Overview
9.11.2. Company Snapshot
9.11.3. Financial Overview
9.11.4 Product Listing
9.11.5. Entropy
9.12 Osypka Medical, Inc.
9.12.1. Company Overview
9.12.2. Company Snapshot
9.12.3. Financial Overview
9.12.4 Product Listing
9.12.5. Entropy
9.13 Vitatron
9.13.1. Company Overview
9.13.2. Company Snapshot
9.13.3. Financial Overview
9.13.4 Product Listing
9.13.5. Entropy
9.14 Zoll Medical CorporationS
9.14.1. Company Overview
9.14.2. Company Snapshot
9.14.3. Financial Overview
9.14.4 Product Listing
9.14.5. Entropy
9.15 Edwards Lifesciences
9.15.1. Company Overview
9.15.2. Company Snapshot
9.15.3. Financial Overview
9.15.4 Product Listing
9.15.5. Entropy

10. PROJECT APPROACH
10.1 Secondary Sources
10.2 Primary Sources
10.3 Data Triangulation
10.4 Key Expert Opinions

11. KOL Views

12. Publisher Capabilities

13. Disclaimer

14. About the PublisherList of Tables
Table 1 Competitive Analysis
Table 2 COVID-19 Impact Analysis
Table 3 Pacemakers in Global (2019-2027)
Table 4 Pacemakers in Global by Implantability (2019-2027)
Table 5 Pacemakers in Global by Device Type (2019-2027)
Table 6 Pacemakers in Global by End User (2019-2027)
Table 7 Pacemakers in Global by Geography (2019-2027)
Table 8 Pacemakers in North America (2019-2027)
Table 9 Pacemakers in North America by Implantability (2019-2027)
Table 10 Pacemakers in North America by Device Type (2019-2027)
Table 11 Pacemakers in North America by End User (2019-2027)
Table 12 Pacemakers in North America by Country (2019-2027)
Table 13 Pacemakers in the US (2019-2027)
Table 14 Pacemakers in Canada (2019-2027)
Table 15 Pacemakers in Mexico (2019-2027)
Table 16 Pacemakers in Europe (2019-2027)
Table 17 Pacemakers in Europe by Implantability (2019-2027)
Table 18 Pacemakers in Europe by Device Type (2019-2027)
Table 19 Pacemakers in Europe by End User (2019-2027)
Table 20 Pacemakers in Europe by Country (2019-2027)
Table 21 Pacemakers in France (2019-2027)
Table 22 Pacemakers in Germany (2019-2027)
Table 23 Pacemakers in UK (2019-2027)
Table 24 Pacemakers in Italy (2019-2027)
Table 25 Pacemakers in Spain (2019-2027)
Table 26 Pacemakers in Russia (2019-2027)
Table 27 Pacemakers in Rest of Europe (2019-2027)
Table 28 Pacemakers in Asia Pacific (2019-2027)
Table 29 Pacemakers in Asia Pacific by Implantability (2019-2027)
Table 30 Pacemakers in Asia Pacific by Device Type (2019-2027)
Table 31 Pacemakers in Asia Pacific by End User (2019-2027)
Table 32 Pacemakers in Asia Pacific by Country (2019-2027)
Table 33 Pacemakers in China (2019-2027)
Table 34 Pacemakers in Japan (2019-2027)
Table 35 Pacemakers in India (2019-2027)
Table 36 Pacemakers in Australia (2019-2027)
Table 37 Pacemakers in South Korea (2019-2027)
Table 38 Pacemakers in Rest of Asia Pacific (2019-2027)
Table 39 Pacemakers in Rest of the World (2019-2027)
Table 40 Pacemakers in Rest of the World by Implantability (2019-2027)
Table 41 Pacemakers in Rest of the World by Device Type (2019-2027)
Table 42 Pacemakers in Rest of the World by End User (2019-2027)
Table 43 Pacemakers in Rest of the World by Country (2019-2027)
Table 44 Pacemakers in Middle East (2019-2027)
Table 45 Pacemakers in Africa (2019-2027)
Table 46 Pacemakers in South America (2019-2027)List of Figures
Figure 1 Competitive Analysis
Figure 2 COVID-19 Impact Analysis
Figure 3 Pacemakers in Global (2019-2027)
Figure 4 Pacemakers in Global by Implantability (2019-2027)
Figure 5 Pacemakers in Global by Device Type (2019-2027)
Figure 6 Pacemakers in Global by End User (2019-2027)
Figure 7 Pacemakers in Global by Geography (2019-2027)
Figure 8 Pacemakers in North America (2019-2027)
Figure 9 Pacemakers in North America by Implantability (2019-2027)
Figure 10 Pacemakers in North America by Device Type (2019-2027)
Figure 11 Pacemakers in North America by End User (2019-2027)
Figure 12 Pacemakers in North America by Country (2019-2027)
Figure 13 Pacemakers in the US (2019-2027)
Figure 14 Pacemakers in Canada (2019-2027)
Figure 15 Pacemakers in Mexico (2019-2027)
Figure 16 Pacemakers in Europe (2019-2027)
Figure 17 Pacemakers in Europe by Implantability (2019-2027)
Figure 18 Pacemakers in Europe by Device Type (2019-2027)
Figure 19 Pacemakers in Europe by End User (2019-2027)
Figure 20 Pacemakers in Europe by Country (2019-2027)
Figure 21 Pacemakers in France (2019-2027)
Figure 22 Pacemakers in Germany (2019-2027)
Figure 23 Pacemakers in UK (2019-2027)
Figure 24 Pacemakers in Italy (2019-2027)
Figure 25 Pacemakers in Spain (2019-2027)
Figure 26 Pacemakers in Russia (2019-2027)
Figure 27 Pacemakers in Rest of Europe (2019-2027)
Figure 28 Pacemakers in Asia Pacific (2019-2027)
Figure 29 Pacemakers in Asia Pacific by Implantability (2019-2027)
Figure 30 Pacemakers in Asia Pacific by Device Type (2019-2027)
Figure 31 Pacemakers in Asia Pacific by End User (2019-2027)
Figure 32 Pacemakers in Asia Pacific by Country (2019-2027)
Figure 33 Pacemakers in China (2019-2027)
Figure 34 Pacemakers in Japan (2019-2027)
Figure 35 Pacemakers in India (2019-2027)
Figure 36 Pacemakers in Australia (2019-2027)
Figure 37 Pacemakers in South Korea (2019-2027)
Figure 38 Pacemakers in Rest of Asia Pacific (2019-2027)
Figure 39 Pacemakers in Rest of the World (2019-2027)
Figure 40 Pacemakers in Rest of the World by Implantability (2019-2027)
Figure 41 Pacemakers in Rest of the World by Device Type (2019-2027)
Figure 42 Pacemakers in Rest of the World by End User (2019-2027)
Figure 43 Pacemakers in Rest of the World by Country (2019-2027)
Figure 44 Pacemakers in Middle East (2019-2027)
Figure 45 Pacemakers in Africa (2019-2027)
Figure 46 Pacemakers in South America (2019-2027)
Figure 47 Market Drivers
Figure 48 Market Barriers
Figure 49 Market Opportunities
Figure 50 PORTER'S Five Force Analysis