How Has The Pacemakers Market Size Evolved In Recent Years?
The pacemakers market has seen considerable growth due to a variety of factors.
• In recent times, there has been a solid expansion in the size of the pacemakers market. It is predicted to escalate from $5.42 billion in 2024 to $5.72 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.6%.
Factors such as an increasing aging population, cardiovascular disorders, health problems related to lifestyle, regulatory endorsements, and heart attack survivors have contributed to the growth in the historic period.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Pacemakers Market?
The pacemakers market is expected to maintain its strong growth trajectory in upcoming years.
• The market for pacemakers is anticipated to witness significant expansion in the coming years, expected to reach a valuation of $7.78 billion in 2029, with a compound annual growth rate (CAGR) of 8.0%.
This projected growth during the forecast period can be linked to numerous factors such as advancements in telemedicine, investments in healthcare by both public and private sectors, improvements in pediatric and neonatal care, surgical techniques, and the development of miniaturized and leadless devices. Additionally, key trends like the incorporation of artificial intelligence (AI), the use of wearable health tech, remote programming, electrophysiology procedures, and other technological advancements are expected to shape the market in the forecast period.
What Are The Essential Drivers Behind The Growth Of The Pacemakers Market?
The pacemaker market is experiencing growth due to the rising occurrence of cardiovascular diseases. These diseases, which impact the heart and blood vessels, are being combated with the use of pacemakers. These devices, equipped with flexible and insulated wires, manage irregular heart rhythms, thus helping control cardiovascular conditions. As an example, the American Heart Association noted in January 2024 that the age-adjusted death rate from cardiovascular diseases had climbed to 233.3 per 100,000. This is a 4.0% increase from the previous year's rate of 224.4 per 100,000, following a 4.6% rise in 2023, and represents the first increase in these rates in a long time. Because of this, the mounting occurrence of cardiovascular diseases is likely to propel the pacemaker market.
How Is The Global Pacemakers Market Divided Into Key Segments?
The pacemakers market covered in this report is segmented –
1) By Type: MRI Compatible Pacemaker, Conventional Pacemaker
2) By Technology: Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular or CRT Pacemaker
3) By Implantability: Implantable Pacemaker, External Pacemaker
4) By Application: Congestive Heart Failure, Arrhythmias, Bradycardia, Tachycardia
5) By End-User: Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By MRI Compatible Pacemaker: Single-Chamber MRI Compatible Pacemaker, Dual-Chamber MRI Compatible Pacemaker, Biventricular MRI Compatible Pacemaker
2) By Conventional Pacemaker: Single-Chamber Conventional Pacemaker, Dual-Chamber Conventional Pacemaker, Biventricular Conventional Pacemaker
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What Trends Are Reshaping The Future Of The Share Report Market?
Dominant businesses in the pacemaker sector are creating novel products like leadless pacemakers to broaden their customer demographics, boost sales, and enhance profit margins. Leadless pacemakers, a kind of cardiac implantable electronic device (CIED), are utilized to regulate heartbeat and manage specific heart rhythm disorders. In July 2023, for example, the U.S. Food and Drug Administration (FDA) granted approval for the AVEIR dual chamber (DR) leadless pacemaker system to Abbott, a medical device corporation based in the United States. As over 80% of people needing a pacemaker require dual-chamber pacing (simultaneous pacing of the right atrium and right ventricle), this authorization significantly increases the availability of leadless pacing for millions of American citizens. Enabled by Abbott's unique i2i communication technology, the AVEIR DR instruments offer coordinated or synchronized cardiac pacing between two leadless pacemakers depending on a patient's clinical needs. The i2i technology functions by using high-frequency pulses to carry messages via the body's naturally conductive blood, connecting each leadless pacemaker. Each implant partakes in instant communication with its co-implanted counterpart to ensure efficient and synchronized cardiac pacing, aiding dual-chamber therapy.
Who Are the Key Players in the Pacemakers Market?
Major companies operating in the pacemakers market include:
• Boston Scientific Corporation
• ZOLL Medical Corporation
• Medtronic plc Biotronik Medical Devices India Pvt ltd.
• MicroPort Scientific Corporation
• Cook Medical Incorporated
• MEDICO S.p.A.
• Shree Pacetronix Ltd.
• Oscor Inc.
• Osypka Medical GmbH
• Abbott Laboratories
• LivaNova PLC
• Lepu Medical Technology(Beijing)Co Ltd.
• Cordis Inc.
• Vitatron Holding B.V.
• Integer Holdings Corporation
• Zoll Medical Corporation
• Synapse Biomedical Inc.
• Pacetronix Limited
• Sorin Group Italia S.r.l.
• Galix Biomedical Instrumentation Inc.
• Imricor Medical Systems Inc.
• Sterimed Group
• Edwards Lifesciences Corporation
• SMT Medical GmbH & Co. KG
• Spacelabs Healthcare Inc.
• BioTrace Medical Inc.
What are the Regional Insights into the Pacemakers Market?
North America was the largest region in the pacemaker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pacemakers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
