New York, USA, May 08, 2023 (GLOBE NEWSWIRE) -- Cardiac Pacemaker Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cardiac Pacemaker Market Information By Type, By Technology, By Application, By End User, And By Region – Market Forecast Till 2030”, the market is projected to grow from USD 4.6 Billion in 2022 to USD 5.8 billion by 2030, exhibiting a CAGR of 3.20% during the forecast period (2022 - 2030).
Market Scope:
The pacemaker may provide short pacing without mobile extraction and is wireless, battery-free, and entirely implanted.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.8 Billion |
| CAGR | 3.20% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Technology, Application And End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rising incidence of CVD and increasing cost of heart disease management |
| Introduction of technologically advanced pacemakers such as MRI-safe pacemakers and leadless pacemakers |
Cardiac Pacemaker Market Competitive Outlook:
Major market competitors are extensively spending in R&D to expand their product lines, which will spur future growth in the cardiac pacemaker market. The market's leading players have launched new products, entered into contracts, completed mergers and acquisitions, increased investments, and collaborated with other organizations, among other significant market moves, in order to broaden their footprints. Cost-effective goods are a need for competitors in the cardiac pacemakers market if they want to grow and thrive in the fiercely competitive environment.
Manufacturing locally to cut operational costs is one of the primary business tactics used by manufacturers in the cardiac pacemaker sector to serve their consumers and grow their market segment. The cardiac pacemaker sector has recently given medicine some of the most important advantages.
Key Companies in the Cardiac Pacemakers market include
- Sorin Group
- Abbott Laboratories
- Pacetronix
- Biotronik SE & Co. KG
- Cook Medical
- Zoll Medical Corporation
- Boston Scientific Corporation
- Medtronic P.L.C.
- Osypca Medical GmbH
- Medico SpA, among others
Cardiac Pacemaker Market Trends:
Market Drivers
The rising incidence of CVD, increasing cost of heart disease management, favorable government policies, and introduction of technologically advanced pacemakers such as MRI-safe pacemakers and leadless pacemakers are the key market drivers enhancing the market growth. Over the anticipated time horizon, the market should be driven by the growing senior population. This is a result of adult individuals' inability to combat cardiovascular illness. The industry is also driven by advancements in pacemakers. The expansion of the market CAGR for cardiac pacemakers is therefore driven by key players in healthcare services clinical devices, supportive informal rules for improved pacemaker enhancements, and growing prevalence of hypertension.
Major factors driving the development of monitoring are the increasing prevalence of CVD, the rising expense of cardiovascular illnesses in CEOs, desired government efforts, and the emergence of mechanically enhanced pacemakers such leadless pacemakers and MRI-safe pacemakers. One of the key factors influencing market expansion is the increasing prevalence of cardiovascular disorders. One of the primary causes of cardiovascular disorders is coronary heart disease.
Browse In-depth Market Research Report (90 Pages) on Cardiac Pacemaker: https://www.marketresearchfuture.com/reports/cardiac-pacemaker-market-2025
COVID-19 Analysis:
Patients with cardiovascular illness have suffered serious effects from the new coronavirus. The healthcare and medical equipment industries had seen a tremendous economic effect as a result of COVID-19's proliferation. A significant percentage of COVID-19 patients have CVD. The primary driver fueling the pacemaker market's expansion is the growing need to enhance patient outcomes for various pacemaker implantations through enhanced and minimally invasive techniques. Additionally, one of the main drivers increasing the industry are attractive reimbursement processes like the Medicare system in the U.S. and NHS in the U.K.
Cardiac Pacemaker Market Segmentation:
Cardiac Pacemaker type Insights
By 2022, more than 62% of the pacemaker market will belong to the implanted pacemaker category. The primary factors driving the cardiac pacemaker market revenue include interest in these devices for the treatment of cardiovascular failure and cardiac arrhythmias, coupled with continuing pilot clinical trials.
Technology Insights
Partial growth may result from less surgical problems. Biventricular pacemakers are anticipated to become more popular as a result of the availability of several tracks. These devices comprise of three tracks that are inserted into the left and right atria and ventricles, allowing them to be implanted in various places. Due to their various advantages in treating disorders like ventricular desynchrony, these biventricular pacemakers are particularly beneficial. Additionally, the market expansion for cardiac pacemakers in this market sector is driven by rising technical developments and product approvals.
Application Insights
With a revenue share of 37.6% in 2021, the arrhythmia sector led the pacemaker market. Atrial fibrillation, heart block, and lengthy Q.T.Q.T. syndrome comprise the subsequent segments. The prevalence of cardiac arrhythmias is influenced by variables such lifestyle diseases, excessive alcohol intake, smoking, and obesity.
End User Insights
With a market share of around 60.6%, the category of hospitals and cardiac centers is the most significant. When patients are hospitalized, hospitals and cardiac centers offer them with high-quality treatment. These facilities also offer payment for procedures, which contributes to the segment's expansion.
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Cardiac Pacemaker Market Regional Analysis:
The market for cardiac pacemakers in North America, which had sales of USD 2.1 billion in 2021, is anticipated to increase at a substantial CAGR throughout the research period. The growing number of elderly people with cardiac problems, the existence of large companies, the quick development of technology (such as Bluetooth-enabled pacemakers and M.R.I. compatible pacemakers), and improvements in regulatory approvals are all contributing factors to this increase. The prevalence of cardiovascular diseases, such as congestive heart failure, cardiac arrests, and arrhythmias, is rising quickly in the United States, which is fueling the need for pacemakers in the country. The market in the area is also being driven by technical developments in the healthcare industry and an increase in the number of procedures linked to the heart.
Due to the increasing frequency of cardiovascular disorders like arrhythmia, technical developments in diagnostic tools, and the need for pacemakers, Europe holds the second-largest market share for cardiac pacemakers. Surge used a minimally invasive procedure to place a pacemaker there. Additionally, the U.K. cardiac pacemaker market had the biggest market share, and the fastest-growing market in this area was the cardiac pacemaker market in Germany.
From 2022 to 2030, the cardiac pacemaker market in Asia Pacific is anticipated to expand at the quickest rate. The market presence of key players and numerous unrealized chances are what are fueling the market expansion in this area. Additionally, investments in the healthcare industry have become more popular, particularly in Japan, China, and India. These nations are progressively concentrating on building robust medical infrastructure for cardiovascular diagnosis and treatment. In the upcoming years, these elements are anticipated to fuel market expansion. Additionally, the region's fastest-growing market for cardiac pacemakers was India, while the China market had the biggest market share.
Discover more research Reports on Healthcare Industry by Market Research Future:
Pacemaker Market Size, Growth and Trends Analysis by Implantability (Implantable Pacemakers and External Pacemaker), Technology (Dual-Chamber Pacemakers, Single-Chamber Pacemakers and Biventricular/CRT Pacemakers), Type (MRI Compatible Pacemakers and Conventional Pacemakers), End User (Hospitals & Cardiac Centers and Ambulatory Surgical Centers) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2030
Arrhythmia Monitoring Devices Market Report Information By Device Type (Resting ECG, Event Monitor, Holter Monitor, Others), Application (Tachycardia, Bradycardia, Others), End User (Hospitals and Clinics, Others) and Region - Forecast till 2030
Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Cardiac Device (Pacemaker and Others), by Cardiac Monitoring (Electrocardiogram), by CRM (Defibrillators and Others), by End-User (Hospitals and Others)–Global Forecast Till 2030
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