Global Cardiac Pacemakers Market, By Type (MRI Compatible Pacemaker, Conventional Pacemaker, Implantable Pacemaker, External Pacemaker), Technology (Single-chamber Pacemaker, Dual-chamber Pacemaker, Biventricular/CRT Pacemaker), Application (Arrhythmia, Atrial Fibrillation, Bradycardia, Tachycardia, Others), End-User (Hospitals and Cardiac Centres, Ambulatory Surgical Centres) – Industry Trends and Forecast to 2029
Market Analysis and Size
According to the centres for Disease Control and Prevention (CDC), sudden cardiac death rates exceed 600,000 each year, with half of patients dying during their first episode of cardiac illness. With no indication of coronary illness, the predominance of atrial and ventricular arrhythmias increases with age. The economic burden of these diseases is expected to exceed USD 1,044 billion by 2030, highlighting the critical need for cardiac pacing devices.
Data Bridge Market Research analyses that the cardiac pacemakers market is expected to reach the value of USD 6782.33 million by the year 2029, at a CAGR of 4.99% during the forecast period. The rise in the cancer cases provides growth opportunities to the market.
Market Definition
Cardiac pacemakers are medical devices that deliver electrical pulses to the heart in order to keep it beating normally. Pacemakers are used to treat patients who have heart problems such as heart failure and arrhythmias.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (MRI Compatible Pacemaker, Conventional Pacemaker, Implantable Pacemaker, External Pacemaker), Technology (Single-chamber Pacemaker, Dual-chamber Pacemaker, Biventricular/CRT Pacemaker), Application (Arrhythmia, Atrial Fibrillation, Bradycardia, Tachycardia, Others), End-User (Hospitals and Cardiac Centres, Ambulatory Surgical Centres),
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Zoll Medical Corporation (U.S), MicroPort Scientific Corporation (China), OSCOR Inc. (U.S), Osypka Medical GmbH (Germany), Medtronic (Ireland), Abbott (US), Boston Scientific Corporation (U.S), BIOTRONIK (Germany), LivaNova (U.K), Pacetronix (India), MEDICO (U.S), Osypka Medical (Germany), Lepu Medical Co ltd. (China)
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Cardiac Pacemakers Market Dynamics
Drivers
- The rise in the cases of cardiovascular diseases around the world
The rise in the prevalence of cardiovascular diseases (CVDs) around the world is one of the major factors driving the growth of the cardiac pacemakers market. The introduction of technologically advanced pacemakers, such as leadless pacemakers and MRI safe pacemakers, as well as favourable government policies, propels the market forward.
- The increase in the demand of implantable pacemakers
The rise in demand to improve patient outcomes for various pacemaker implantations, as well as improved and minimally invasive procedures, and the rise in the cost of cardiac disease management, all have an impact on the market. Furthermore, an increase in the burden of CVDs, an increase in healthcare expenditure, and favourable reimbursement procedures all have a positive impact on the cardiac pacemakers market.
- Regulatory Compliance
Maintaining compliance with medical reforms and regulations raises the demand for these solutions.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the cardiac pacemakers market.
Opportunities
High disease prevalence in developing countries, various supportive government initiatives, and funding for non-governmental organisations Advanced diagnostics, favourable reimbursement scenarios for treatment, and cost-effective measures taken by various governments are also driving the cardiac pacemaker market. The future landscape of the cardiac pacemaker market will be defined by a focus on new device launch approaches and the development of fast, reliable, and cost-effective diagnostic methods.
Restraints/Challenges
The high cost of cardiac drugs and pacemakers is expected to impede market growth. In the forecast period, an unfavourable reimbursement scenario, particularly in developing regions, is expected to pose a challenge to the cardiac pacemakers market.
This cardiac pacemakers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiac pacemakers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cardiac pacemakers Market
The COVID-19 pandemic is expected to have a negative impact on the growth of the cardiac pacemaker market. Many countries have suffered and continue to bear a significant burden on both their economies and healthcare systems as a result of the high transmission rate and lack of treatment. Many countries have gone into lockdown, suspending trade with other countries, imposing travel restrictions, and so on, resulting in a drop in the market capitalizations of major companies around the world.
Recent Development
- Medtronic Private Limited will launch Azure Pacemaker BlueSync technology in India in October 2020. This technology can communicate with patients' smartphones and tablets directly.
- Medtronic PLC received US FDA approval for its Leadless Micra AV, the world's smallest pacemaker with atrioventricular (AV) synchrony, in February 2020.
Global Cardiac pacemakers Market Scope
The cardiac pacemakers market is segmented on the basis of type, technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- MRI compatible pacemaker
- Conventional pacemaker
- Implantable pacemaker
- External pacemaker
On the basis of type, the cardiac pacemakers market is segmented into MRI compatible pacemaker, conventional pacemaker, implantable pacemaker, and external pacemaker.
Technology
- Single chamber
- Dial chamber
- Biventricular/CRT
On the basis of technology, the cardiac pacemakers market is segmented into single-chamber pacemaker, dual-chamber pacemaker, and biventricular/CRT pacemaker.
Application
- Arrhythmia
- Atrial fibrillation
- Bradycardia
- Tachycardia
- Others
On the basis of application, the cardiac pacemakers market is segmented into arrhythmia, atrial fibrillation, bradycardia, tachycardia and others.
End User
- Cardiac centers
- Ambulatory surgical centres
- Hospitals
- Clinics
On the basis of end-user, the cardiac pacemakers market is segmented into hospitals& cardiac centers, and ambulatory surgical centers.
Cardiac pacemakers Market Regional Analysis/Insights
The cardiac pacemakers market is analysed and market size insights and trends are provided by country, type, technology, application and end users as referenced above.
The countries covered in the cardiac pacemakers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Due to rapid technological advancements such as MRI compatible pacemakers and Bluetooth enabled pacemakers, as well as improved regulatory approvals within the region, North America dominates the cardiac pacemakers market. Due to investments in the healthcare sector, particularly in Japan, India, and China, Asia-Pacific is expected to grow significantly from 2022 to 2029.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The cardiac pacemakers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac pacemakers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac pacemakers market. The data is available for historic period 2010-2020.
Competitive Landscape and Cardiac pacemakers Market Share Analysis
The cardiac pacemakers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac pacemakers market.
Some of the major players operating in the cardiac pacemakers market are
- Zoll Medical Corporation (U.S)
- MicroPort Scientific Corporation (China)
- OSCOR Inc. (U.S)
- Osypka Medical GmbH (Germany)
- Medtronic (Ireland)
- Abbott (US)
- Boston Scientific Corporation (U.S)
- BIOTRONIK (Germany)
- LivaNova (U.K)
- Pacetronix (India)
- MEDICO (U.S)
- Osypka Medical (Germany)
- Lepu Medical Co ltd. (China)
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