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Pacemaker Market Size, Share, Industry & Opportunities 2031

Global Pacemaker Market

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Segments - by Product Types (Implantable and External), Technology (Single-chamber Pacemakers [Single-chamber Atrial, Single-chamber Ventricular], Dual-chamber Pacemakers, and Biventricular/CRT Pacemakers), Types (MRI Compatible and Conventional), Applications (Congestive Heart Failure, Arrhythmias, Bradycardia, and Tachycardia), End-uses (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers, and Clinics),and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031

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Report Description

Pacemaker Market Outlook 2031

The global pacemaker market size was valued at USD 4.51 Billion in 2022 and is likely reach to USD 6.20 Billion by 2031, expanding at a CAGR of 3.6% during the forecast period, 2023 – 2031. According to a research conducted by the Pan-African Society of Cardiology (PASCAR), the pacemaker implantation rate in 31 countries in Africa was noted to be 2.66 per Mn population from 2011 to 2016. Rising prevalence of heart diseases is expected to drive the growth of the market.

A pacemaker is a battery-operated compact device that identifies whether the heartbeats are erratic. The pacemaker signals the heart by delivering electrical pulses to correct the pace of the heartbeats to maintain the normal heart rate, when required.

Pacemakers can be temporarily used post-surgery, during medication overdose, and after a heart attack; or implanted permanently to assist heart patients or people suffering from arrhythmias.

In a single chamber pacemaker, electrical impulses are transferred to the right ventricle; whereas, a dual chamber pacemaker transports electrical impulses to the right atrium and the right ventricle. Biventricular pacemaker is designed for patients suffering from heart failure with anomalous electrical systems.

It invigorates the lower right and left ventricles of the heart improving the heartbeat efficiency. Electrocardiogram (ECG) is typically used by physicians to measure electrical impulses by placing sensor pads on chest and limbs.

Market Trends, Drivers, Restraints, and Opportunities:

Rising lifestyle-related disorders and increasing geriatric population across the globe are anticipated to fuel the market.
Favorable reimbursements and technological progressions are driving the growth of the market.
Shifting preference from the conventional pacemakers to ultrasound-based pacemakers and implantable cardioverter defibrillator (ICD) is estimated to offer several opportunities for the pacemaker market.
Key challenges in the market include the availability of alternative treatments such as cardioverter defibrillators to manage tachycardia.
Lofty prices of pacemakers is a big restraint on the growth of the market.

Scope of Pacemaker Market Report

The report on the global pacemaker market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Pacemaker Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Pacemaker Market Segment Insights

Implantable segment to grow at a rapid pace

On the basis of product types, the global pacemaker market can be divided into implantable and external. The implantable segment secured a key market share and is anticipated to develop at a substantial growth rate during the forecast period. The implantable pacemakers can be mainly classified into single chamber, dual chamber, and biventricular pacemakers.

The expansion of the implantable segment is due to diminishing post-surgical complexities and the presence of several leads. Thus, the implantable segment is anticipated to grow significantly during the forecast period.

Conventional segment prevalent in the market

Based on types, the market can be bifurcated into MRI compatible and conventional. The conventional segment holds a major share of the market. The factors that can be attributed to the growth of the segment during the forecast period are constant improvements in technology, budget-friendliness, compact size, and extended shelf life.

Arrhythmias segment to account for a considerable market share

In terms of applications, the market can be segmented into congestive heart failure, arrhythmias, bradycardia, and tachycardia. The arrhythmias segment holds a considerable revenue share of the market. The factors that can be attributed to the growth of the arrhythmias segment are lifestyle diseases, disproportionate alcohol consumption, constant smoking, and increasing obesity.

Pacemaker Market Regional Outlook

North America holds a key share of the global market

Based on regions, the global pacemaker market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds a key share in the global market in terms of revenue. The high pervasiveness of cardiovascular problems and increasing obesity rates are mainly responsible for the growing market size of North America.

The market share of North America is also positively impacted by the consumption of tobacco & alcohol, and sedentary lifestyle which amplify the risk of arrhythmias and subsequently increases the demand for pacemakers in the region. Asia Pacific holds a sizeable market share after North America.

Segments

Product Types

Implantable
External

Technology

Single-chamber Pacemakers
- Single-chamber Atrial
- Single-chamber Ventricular
Dual-chamber Pacemakers
Biventricular/CRT Pacemakers

Types

MRI Compatible
Conventional

Applications

Congestive Heart Failure
Arrhythmias
Bradycardia
Tachycardia

End-Uses

Hospitals
Cardiac Care Centers
Ambulatory Surgical Centers
Clinics

Regions

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

Key Players

BIOTRONIK
Boston Scientific Corporation
Lepu Medical Technology (Beijing) Co., Ltd.
MEDICO SpA
Medtronic
MicroPort Scientific Corporation
Oscor Inc.
Osypka Medical GmbH
Pacetronix
Vitatron Holding B.V.

Competitive Landscape

Major players in the global pacemaker market include BIOTRONIK, Boston Scientific Corporation, Lepu Medical Technology (Beijing)Co.,Ltd., MEDICO SpA, Medtronic, MicroPort Scientific Corporation, Oscor Inc., Osypka Medical GmbH, Pacetronix, and Vitatron Holding B.V.

Companies adopt strategies such as investments in R&D, joint ventures, acquisitions, and product launches to increase their market share and market presence.

BIOTRONIK has offered a technology existingin its latest generation of BIOMONITOR IIIm, to every one of BIOMONITOR III devices in the US. The technology helps physicians to get quick access to vital patient information who have already implanted with preceding device.

The step demonstrated BIOTRONIK’s assurance to offer physicians with technology that helps better patient monitoring during the COVID-19 pandemic. This technology helps physicians to monitor vital data trends and provide cardiac arrhythmia data to improve remote treatments.
Pacemaker Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pacemaker Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Pacemaker Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Pacemaker Market - Supply Chain
  4.5. Global Pacemaker Market Forecast
     4.5.1. Pacemaker Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Pacemaker Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Pacemaker Market Absolute $ Opportunity
5. Global Pacemaker Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Pacemaker Market Size and Volume Forecast by Types
     5.3.1. Implantable
     5.3.2. External
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Pacemaker Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Pacemaker Market Size and Volume Forecast by Applications
     6.3.1. Congestive Heart Failure
     6.3.2. Arrhythmias
     6.3.3. Bradycardia
     6.3.4. Tachycardia
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Pacemaker Market Analysis and Forecast by End Users
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by End Users
     7.2.2. Y-o-Y Growth Projections by End Users
  7.3. Pacemaker Market Size and Volume Forecast by End Users
     7.3.1. Hospitals
     7.3.2. Cardiac Care Centers
     7.3.3. Ambulatory Surgical Centers
     7.3.4. Clinics
  7.4. Absolute $ Opportunity Assessment by End Users
  7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Pacemaker Market Analysis and Forecast by Region
  8.1. Market Trends
  8.2. Introduction
     8.2.1. Basis Point Share (BPS) Analysis by Region
     8.2.2. Y-o-Y Growth Projections by Region
  8.3. Pacemaker Market Size and Volume Forecast by Region
     8.3.1. North America
     8.3.2. Latin America
     8.3.3. Europe
     8.3.4. Asia Pacific
     8.3.5. Middle East and Africa (MEA)
  8.4. Absolute $ Opportunity Assessment by Region
  8.5. Market Attractiveness/Growth Potential Analysis by Region
  8.6. Global Pacemaker Demand Share Forecast, 2019-2026
9. North America Pacemaker Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
  9.2. North America Pacemaker Market Size and Volume Forecast by Country
     9.2.1. U.S.
     9.2.2. Canada
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. North America Pacemaker Market Size and Volume Forecast by Types
     9.4.1. Implantable
     9.4.2. External
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. North America Pacemaker Market Size and Volume Forecast by Applications
     9.7.1. Congestive Heart Failure
     9.7.2. Arrhythmias
     9.7.3. Bradycardia
     9.7.4. Tachycardia
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. North America Pacemaker Market Size and Volume Forecast by End Users
     9.10.1. Hospitals
     9.10.2. Cardiac Care Centers
     9.10.3. Ambulatory Surgical Centers
     9.10.4. Clinics
  9.11. Basis Point Share (BPS) Analysis by End Users
  9.12. Y-o-Y Growth Projections by End Users
  9.13. Market Attractiveness/Growth Potential Analysis
     9.13.1. By Country
     9.13.2. By Product Type
     9.13.3. By Application
  9.14. North America Pacemaker Demand Share Forecast, 2019-2026
10. Latin America Pacemaker Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Latin America Average Pricing Analysis
  10.2. Latin America Pacemaker Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
  10.4. Latin America Pacemaker Market Size and Volume Forecast by Types
     10.4.1. Implantable
     10.4.2. External
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Latin America Pacemaker Market Size and Volume Forecast by Applications
     10.7.1. Congestive Heart Failure
     10.7.2. Arrhythmias
     10.7.3. Bradycardia
     10.7.4. Tachycardia
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Latin America Pacemaker Market Size and Volume Forecast by End Users
     10.10.1. Hospitals
     10.10.2. Cardiac Care Centers
     10.10.3. Ambulatory Surgical Centers
     10.10.4. Clinics
  10.11. Basis Point Share (BPS) Analysis by End Users
  10.12. Y-o-Y Growth Projections by End Users
  10.13. Market Attractiveness/Growth Potential Analysis
     10.13.1. By Country
     10.13.2. By Product Type
     10.13.3. By Application
  10.14. Latin America Pacemaker Demand Share Forecast, 2019-2026
11. Europe Pacemaker Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Europe Average Pricing Analysis
  11.2. Europe Pacemaker Market Size and Volume Forecast by Country
     11.2.1. Germany
     11.2.2. France
     11.2.3. Italy
     11.2.4. U.K.
     11.2.5. Spain
     11.2.6. Russia
     11.2.7. Rest of Europe
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Europe Pacemaker Market Size and Volume Forecast by Types
     11.4.1. Implantable
     11.4.2. External
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Europe Pacemaker Market Size and Volume Forecast by Applications
     11.7.1. Congestive Heart Failure
     11.7.2. Arrhythmias
     11.7.3. Bradycardia
     11.7.4. Tachycardia
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Europe Pacemaker Market Size and Volume Forecast by End Users
     11.10.1. Hospitals
     11.10.2. Cardiac Care Centers
     11.10.3. Ambulatory Surgical Centers
     11.10.4. Clinics
  11.11. Basis Point Share (BPS) Analysis by End Users
  11.12. Y-o-Y Growth Projections by End Users
  11.13. Market Attractiveness/Growth Potential Analysis
     11.13.1. By Country
     11.13.2. By Product Type
     11.13.3. By Application
  11.14. Europe Pacemaker Demand Share Forecast, 2019-2026
12. Asia Pacific Pacemaker Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Asia Pacific Average Pricing Analysis
  12.2. Asia Pacific Pacemaker Market Size and Volume Forecast by Country
     12.2.1. China
     12.2.2. Japan
     12.2.3. South Korea
     12.2.4. India
     12.2.5. Australia
     12.2.6. Rest of Asia Pacific (APAC)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Asia Pacific Pacemaker Market Size and Volume Forecast by Types
     12.4.1. Implantable
     12.4.2. External
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Asia Pacific Pacemaker Market Size and Volume Forecast by Applications
     12.7.1. Congestive Heart Failure
     12.7.2. Arrhythmias
     12.7.3. Bradycardia
     12.7.4. Tachycardia
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Asia Pacific Pacemaker Market Size and Volume Forecast by End Users
     12.10.1. Hospitals
     12.10.2. Cardiac Care Centers
     12.10.3. Ambulatory Surgical Centers
     12.10.4. Clinics
  12.11. Basis Point Share (BPS) Analysis by End Users
  12.12. Y-o-Y Growth Projections by End Users
  12.13. Market Attractiveness/Growth Potential Analysis
     12.13.1. By Country
     12.13.2. By Product Type
     12.13.3. By Application
  12.14. Asia Pacific Pacemaker Demand Share Forecast, 2019-2026
13. Middle East & Africa Pacemaker Market Analysis and Forecast
  13.1. Introduction
     13.1.1. Basis Point Share (BPS) Analysis by Country
     13.1.2. Y-o-Y Growth Projections by Country
     13.1.3. Middle East & Africa Average Pricing Analysis
  13.2. Middle East & Africa Pacemaker Market Size and Volume Forecast by Country
     13.2.1. Saudi Arabia
     13.2.2. South Africa
     13.2.3. UAE
     13.2.4. Rest of Middle East & Africa (MEA)
  13.3. Absolute $ Opportunity Assessment by Country
  13.4. Middle East & Africa Pacemaker Market Size and Volume Forecast by Types
     13.4.1. Implantable
     13.4.2. External
  13.5. Basis Point Share (BPS) Analysis by Types
  13.6. Y-o-Y Growth Projections by Types
  13.7. Middle East & Africa Pacemaker Market Size and Volume Forecast by Applications
     13.7.1. Congestive Heart Failure
     13.7.2. Arrhythmias
     13.7.3. Bradycardia
     13.7.4. Tachycardia
  13.8. Basis Point Share (BPS) Analysis by Applications
  13.9. Y-o-Y Growth Projections by Applications
  13.10. Middle East & Africa Pacemaker Market Size and Volume Forecast by End Users
     13.10.1. Hospitals
     13.10.2. Cardiac Care Centers
     13.10.3. Ambulatory Surgical Centers
     13.10.4. Clinics
  13.11. Basis Point Share (BPS) Analysis by End Users
  13.12. Y-o-Y Growth Projections by End Users
  13.13. Market Attractiveness/Growth Potential Analysis
     13.13.1. By Country
     13.13.2. By Product Type
     13.13.3. By Application
  13.14. Middle East & Africa Pacemaker Demand Share Forecast, 2019-2026
14. Competition Landscape
  14.1. Global Pacemaker Market: Market Share Analysis
  14.2. Pacemaker Distributors and Customers
  14.3. Pacemaker Market: Competitive Dashboard
  14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     14.4.1. BIOTRONIK
     14.4.2. Boston Scientific Corporation
     14.4.3. Lepu Medical Technology (Beijing) Co.,Ltd.
     14.4.4. MEDICO SpA
     14.4.5. Medtronic
     14.4.6. MicroPort Scientific Corporation
     14.4.7. Oscor Inc.
     14.4.8. Osypka Medical G

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