Cardiac Pacemaker Market Size, Share and Industry Analysis By Product (Single Chamber Pacemakers, Dual Chamber Pacemakers, Cardiac Resynchronization Therapy-Pacemakers (CRT-P)), By End User (Hospitals & Clinics, Ambulatory Surgery Centers and Others), and Regional Forecast 2019-2032

The global cardiac pacemaker market size was valued at USD 4,046.9 million in 2018 and is projected to reach USD 6,296.6 Million by 2032, exhibiting a CAGR of 3.2% during the forecast period (2018-2032). Europe dominated the global pacemaker market with a market share of 37.07% in 2018.

The increasing prevalence of arrhythmia and bradycardia is projected to boost the global cardiac pacemaker market growth by 2026. According to data published in the American Heart Association journal in 2015, an estimated 15.0% of global sudden cardiac deaths occur in China.

A pacemaker is an implantable electronic device widely used to regulate and monitor a patient's heartbeat with the help of small electric stimulation. Depending upon the heart's requirements, pacemakers are utilized for a short or long time. Combined with this, pacemakers play a major role in monitoring and analyzing the patient's heartbeat, providing physiologic heart rate, and providing diagnostic information about a heart condition.

"Cardiac Resynchronization Therapy Device Pacemaker (CRT-P) is expected to register significant growth over the forecast period"

Cardiac Resynchronization Therapy Device Pacemaker (CRT-P) is an advanced type of pacemaker that provides certain added benefits, such as sensing heart rate and delivering shock in accurate time. Moreover, one of the prime functions of the CRT-P device is to reduce the future chances of heart failure. The adoption of CRT-P devices is growing extensively due to their added benefits and proven efficiency in treating heart rhythm disorders.

Additionally, favorable reimbursement policies served by governments across the globe are projected to boost the adoption of CRT-P devices, resulting in the pacemaker market growth. Other types of cardiac pacemakers include single-chamber pacemakers and dual-chamber pacemakers. The dual-chamber pacemaker accounted for an estimated 71.2% of the cardiac pacemaker market share.

Cardiac Pacemaker Market Segmentation

In terms of products, the global cardiac pacemakers market segments are categorized into single-chamber pacemakers, dual-chamber pacemakers, and CRT-Pacemakers. On the basis of end-users, the cardiac pacemaker market segments include clinics & hospitals and ASCs (Ambulatory Surgery Centers) & others. 

Regional Analysis

"Higher Adoption Pacemakers due to Advanced Healthcare Facilities and Awareness Amongst Patients"

Europe generated revenue of US$ 1,500.1 Mn in 2018 and is expected to dominate the pacemaker market throughout the forecast period. Developed healthcare infrastructure and awareness amongst the general population are fueling the adoption of pacemakers to cope up with the rapidly increasing pacemaker market in Europe. Moreover, favorable regulatory in reimbursement policies are creating a lucrative opportunity for the pacemakers market growth in Europe and countries of North America by 2026.

The emerging countries of Asia Pacific hold a lower share in the global market, although the pacemaker market in Asia Pacific is anticipated to register a higher CAGR owing to increasing patient pool suffering from cardiac disorders. The rest of the world holds a smaller share in the global market owing to the lower awareness of the treatment and lack of trained healthcare professionals.

Pacemaker Market Drivers

"Medtronic and Boston Scientific Corporation to Account for More Than Half of the Market Share in Terms of Revenue"

Medtronic holds a considerable share of the cardiac pacemaker market. The company is anticipated to retain its leading position in the forecast duration owing to its wide range of product offerings, the introduction of advanced and innovative and strong brand presence. This company, together with Boston Scientific Corporation currently holds over half of the global cardiac pacemakers market share in terms of revenue. Other players operating in the pacemaker market are Abbott, LivaNova PLC, MicroPort, BIOTRONIK, and others.  

List of Top Companies in Pacemaker Market:

• Medtronic Plc


• Boston Scientific Corporation


• Biotronik


• LivaNova Plc


• Abbott


• Microport


• Other prominent players

Report Coverage 

Cardiac pacemakers are widely used to treat the heart, which is beating irregularly or too slowly. Generally, pacemakers contain two parts: a lead, which transports electric impulses to regularize heartbeat, and a generator to control the pacemaker and store information. The exponentially increasing prevalence of cardiac conditions is anticipated to offer huge potential for the cardiac pacemaker market growth by 2026.

The report provides qualitative and quantitative insights into cardiac pacemaker industry trends and a detailed analysis of the market size and growth rate for all possible segments. The market is segmented by product, end-user, and region.

The pacemaker market is segmented by product into single-chamber pacemakers, dual-chamber pacemakers, and cardiac resynchronization therapy pacemakers (CRT-P). The report covers various end-users, including hospitals and clinics, ambulatory surgery centers, and others. Geographically, the market is segmented into four major regions: North America, Europe, Asia Pacific, and the rest of the World. The regions are further categorized into countries.

The report also analyzes pacemaker market dynamics and the competitive landscape. Various key insights provided in the report include the prevalence of sudden cardiac arrests in key countries, technological advancements in cardiac pacemakers, recent industry developments such as mergers and acquisitions, the regulatory scenario in key countries, new product launches, the reimbursement scenario, and key industry trends.

SEGMENTATION

Key Industry Developments

• In November 2015, Medtronic received FDA approval for a newly developed mobile application that can transfer data from a pacemaker to a patient’s concerned physician.


• In July 2015, Sorin group announced the launch of REPLY CRT-P in Europe market. The newly launched device is equipped with sleep apnea monitoring and physiologic rate response with aim to manage heart failure.


• In February 2017, Abbott received FDA approval for their newly developed pacemakers, the Assurity MRI pacemaker. The newly developed pacemakers are compatible for MRI examinations.