Cardiac Pacemaker Market Size, Share, Industry, Forecast and outlook (2024-2031)

Cardiac Pacemaker Market is segmented By Product Type (Single chamber, Dual-chamber, Biventricular pacemakers, External Pacemaker), By Application (Arrhythmia, Bradycardia, Atrial Fibrillation, Heart Block and Failure, Others), By End User( Hospitals, Cardiothoracic Centres, Others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Cardiac Pacemaker Market Overview

Cardiac Pacemaker Market is expected grow at a CAGR of 15.2% during the forecast period 2024-2031

A cardiac pacemaker is a battery-operated device that senses the heart's beating rate. In case of any abnormalities, the device sends signals to the heart making it beat at the correct pace. Majorly pacemakers have two components, a generator, which contains the battery and the information to control the heartbeat and leads. Leads are the wires connecting the heart and the generator to carry the electrical messages. The generator is implanted under the skin by making a cut on the left side of the chest and using a digital X-ray, leads are put through the cut. 

As per the research study, the global cardiac pacemaker market is segmented into product type, application, End-user, and geography. Based on geography, the global market is divided into major regions and countries, such as North America (the United States, and Canada). Europe region into the United Kingdom, Germany,  Spain, Italy, France, Russia, and the rest of the European countries. Asia Pacific region into China, India, Japan, South Korea, and Australia. South America region into Brazil, Argentina, and Mexico. Middle East and Africa region into UAE, KSA, and South Africa. Among all regions, North America holds the highest market share in the cardiac pacemaker market globally owing to the well-developed infrastructure, good reimbursement policies, high awareness among people, and high income of the region have augmented the Cardiac Pacemaker Market growth in the North America region. 

Europe region registered for an important share in the global market and is remaining to continue its control over the forecast period. Due to the increase in the occurrence of cardiovascular diseases. Furthermore, the United States has become home to several key players, such as Abbott Laboratories and Boston Scientific Corporation, involved in developing, constructing, and cardiac marketing suppliers. For example, EBR Systems Inc. received the US FDA Breakthrough Device Designation for the WiSE (Wireless Stimulation Endocardially) CRT System to treat heart failure in September 2019. As a result, the rising prevalence of heart disease in the United States is expected to drive the Cardiac Pacemaker Market growth during the forecast period 2022-2029.

The Asia Pacific cardiac pacemaker market is expected to show the fastest growth in the forecast period owing to the anticipated government policies to establish a free and open economy and the high number of deaths in the region. Countries in the Asia Pacific region such as China, Japan, and India are producing potential growth rates to enhance the growth of the cardiac pacemaker market in the region.

Cardiac Pacemaker Market Summary

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Cardiac Pacemaker Market Dynamics

The global cardiac pacemaker market growth is driven by the rising prevalence of cardiovascular diseases (CVD), the growing geriatric population, and technological advances in the cardiovascular field.

The rising prevalence of lifestyle-related disorders in the aging population will drive the market growth  

The growing geriatric population is driving the market growth in the forecast period. According to World Population Prospects: Highlights 2020 data, approximately 1.5 billion people will be over 65 by 2050, up from 727 million in 2020. By 2050, one in every four people in Europe and North America will be 65 or older. The number of people aged 80 and up is expected to triple from 143 million in 2019 to 426 million by 2050. Pacing is typically used to treat severe arrhythmias. According to a 2019 research article titled "Pacemaker Treatment for Older Patients: Survival and Specific Predicting Limits for One-Centered Experience," the number of older patients receiving pacemakers is increasing, and European guidelines do not consider any age limits for pacemaker installation.

Furthermore, according to a World Health Organization article published in July 2021, an estimated 17.9 million people worldwide die from heart disease each year, accounting for 31 percent of global deaths, with heart disease and stroke accounting for 85 percent of these deaths. As a result, the growing global burden of heart disease and technological advancements in developing novel pacemakers are expected to drive the cardiovascular market during the forecast period.

The Asia Pacific is expected to show growth in the forecast period owing to the anticipated government policies to establish a free and open economy and the high deaths in the region.

Complications related to pacemakers will hamper the growth of the market

The complications related to implanted pacemakers will hamper the market growth in the forecast period. As per the mayo clinic, swelling, bleeding, or bruising at the pacemaker site, particularly if the patient is taking blood thinners. Thromboembolism (blood clots) near the pacemaker site or the blood vessel or nerve damage near the pacemaker.

The global market of cardiac pacemakers market is primarily driven by the rising prevalence of Cardiovascular Diseases (CVD), the growing geriatric population, and technological advances in the cardiovascular field. 

According to the World Health Organization (WHO), CVD was the major number one cause of death globally in 2017. In 2016, around 17.9 million people are estimated to die from CVDs which represents 31% of deaths worldwide. Moreover, 85% of deaths from CVD are due to heart attack and stroke.

Individuals with a high risk of CVD may show high blood pressure and obesity conditions. According to WHO, in 2015, around 20.1% of women and 24.1% of men in adults (above 18 years) suffered from a high prevalence of raised blood worldwide. The number of adults with high blood pressure increased from 594 million in 1975 to 1.13 billion in 2015. 

High costs of equipment and patient concerns post-implantation are a few major restraining factors for market growth for Cardiac pacemakers. While the new emerging market players are designing modern implantable pacemakers, which can be an opportunity for the Cardiac pacemakers market.

COVID-19 Impact on Cardiac Pacemaker Market Growth

The COVID-19 pandemic slowed the cardiovascular market's growth. Many countries are suffering and continue to bear a heavy burden on their economies and healthcare systems as a result of the high rate of infection and lack of treatment. Due to travel restrictions, many countries previously shut down. They stopped trading with other countries, causing a global slowdown for large corporations. The American College of Surgeons and the American Society of Anesthesiologists both recommended that the rate of new cases of COVID-19 be reduced continuously for 14 days before the resumption of special surgery.

In addition, temporary patients undergoing pacemaker transfusion are 2.5 times more likely to acquire COVID-19 infection before the first pacemaker (PPM) injection, according to a study published in Case Reports in Cardiology, 2020. As a result, research suggested that using temporary cardiac care providers increased the risk of long-term complications and infection transmission to healthcare workers. As a result of the high risk associated with heart surgery during COVID-19, the market is expected to grow negatively.

Cardiac Pacemaker Market Segmentation

The implantable pacemaker segment is expected to grow at the fastest CAGR during the forecast period (2024-2031)        

Implanted cardiac pacemakers have the largest share of the market. They are expected to have the most profitable growth rate during the forecast period. Pacemakers are classified into single chambers, dual-chamber, and biventricular pacemakers.

Partial growth may result from fewer postoperative complications. Because of multiple tracks, biventricular pacemakers are expected to gain traction. These devices, consisting of three tracks installed in the left and right atriums and the ventricle, can be installed in multiple locations. These biventricular pacemakers are extremely beneficial in treating conditions such as ventricular dyssynchrony.

Furthermore, increasing technological advancements and product approvals drive the segment's growth. For instance, Abbott Laboratories received FDA clearance for the Gallant line, which contains an implanted cardioverter-defibrillator and a cardiac resynchronization therapy defibrillator with Bluetooth technology, in July 2020. Pacemaker technology's advanced features, such as remote data tracking devices, secure magnetic resonance imaging (MRI) devices, and data recording functionality drive the segment's growth. 

Cardiac Pacemaker Companies

Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with an increased focus on R&D are other ways the leading players improve their market presence. The key players in the market are Medtronic Plc., St. Jude Medical, Biotronik, Abbott Laboratories, Boston Scientific, Vivatron, Sorin Group, Lepu Medical, Shree Pacetronix, and Medico S.P.A.

Recent Developments in the Industry:

1. On 30th April 2019, Biotronik announced the launch of the Actor device family which includes Acticor DX and CRT-DX devices. In the USA, patients are being treated with new implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds).
2. On 1st January 2018, According to the news release, Medtronic Plc. Launched its MyCareLink Heart mobile application to support the portfolio of pacemakers by providing the comfort of communication directly with patients' smart devices.
3. On 8th May 2017, Biotronik launches its first FDA-approved CRM (Cardiac rhythm management) Devices with MRI auto-detect Technology. The MRI AutoDetect technology makes sure that patients with CRM devices can have safe MRI scans and thereby minimize programming burdens for hospitals.