The Global Pacemakers Market size is projected to grow at a CAGR of 6.0% from 2021-2028. The growth can be attributed to factors such as the increasing prevalence of cardiac disorders globally and advancements in technology.
Pacemakers are electronic devices that regulate the heart’s rhythm and restore its natural regularity. A pacemaker is a battery-operated device that provides an electrical impulse to produce contractions of the myocardium (the muscular layer of the heart). It uses pulses of electricity to tell your heart how fast it should be beating.
These devices have no wires or leads and do not require surgery for implantation. These pacemakers can be implanted under someone's collarbone, in their chest wall just below where one would wear a breastplate, or on top of their shoulder blade beneath where they would wear their shirt. Some pacemakers are surgically placed inside the lower abdomen, near internal organs such as the stomach and intestines.
On the basis of Types, the market is segmented into Implantable Cardiac Pacemakers and External Cardiac Pacemakers.
Implantable Cardiac Pacemakers are electronic devices inserted into the body to help control abnormal heart rhythms and maintain a proper heart rate. These pacemaker implantables can be implanted either inside the cardiac muscle (myocardium) or just below where someone would wear their breastplate, in order to sense electrical impulses of the heart and send back an electric impulse that helps regulate it.
External cardiac pacemakers are a type of medical device that is used for stimulating the heart. These devices generate electrical impulses through wires in order to control abnormal rhythms (arrhythmias) and help maintain a normal rhythm. They also prevent additional bradycardia or tachycardia as well as allow physicians to assess the status of patients with arrhythmia.
On the basis of Application, the market is segmented into hospitals, ambulatory surgical centers (ASC), and clinics. The hospital's segment is further sub-segmented into public hospitals and private hospitals.
Pacemakers are used to regulate the abnormal heart rhythm and provide a normal, steady heartbeat. Hospitals can be characterized as acute care facilities that treat patients with life-threatening conditions or chronic diseases on an inpatient basis. Most of the pacemaker implantation procedures take place at hospitals because they have specialized equipment for such invasive surgeries.
The use of pacemakers in ambulatory surgical centers (ASC) is minimal because only a few cases are complex enough to warrant an implant. However, the trend of increasing usage in ASCs might continue as there will be more and more complicated surgeries that require special care on behalf of patients.
Pacemakers are implemented in clinics to manage disorders of the heart rhythm. They come into play when an individual has a chronic condition such as congestive heart failure, which causes their electrical system to malfunction and lead them to faint or experience dizziness.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The market in North America is expected to dominate the global pacemaker market with a share of over 40% by 2028 owing to the higher adoption of digital technologies in this region as compared to that of other regions.
Asia Pacific is projected to register the highest CAGR of over 17% from 2021-2028. This can be attributed to the increasing adoption of Cardiac Pacemakers in this region, owing mainly to the growth in the middle-class population and increase awareness among people about these devices as a treatment for heart problems.
The growth factors of the pacemakers market are increased awareness among people about these devices as a treatment for heart problems, increasing adoption of digital technologies in North America and the Asia Pacific.
The growing demand for minimally invasive surgeries and the rising number of cases of obesity are anticipated to be some key drivers that will propel the market growth. In addition, increased awareness among patients about low-risk surgery with minimal recovery time, lower risk of side effects or infection at various ASCs as well as the reduced cost associated with surgery at an ASC may provide significant opportunities for expansion in this segment during the next few years.
In the next few years, pacemakers devices are anticipated to be used in a number of new and emerging applications such as structural heart diseases. The rise in demand for minimally invasive surgery is expected to provide significant opportunities for market growth due to its low-risk nature associated with minimal recovery time, lower risk of side effects or infection at various ASCs.
The growing adoption of digital technologies may also propel this segment during the forecast period. However, some factors that can impede the global pacemaker market include lack of awareness among people about these devices as a treatment for heart problems; difficulty in accessing healthcare infrastructure (clinical services), high cost associated with hospitalization and surgical procedures, etc., limited access to financing options like insurance schemes by patients, and lack of skilled medical professionals in developing countries.
Up Market Research published a new report titled “Pacemakers Market research report which is segmented by Types (Implantable Cardiac Pacemakers, External Cardiac Pacemakers), By Applications (Hospitals, ASCs, Clinics), By Players/Companies Boston Scientific, Medtronic, Cardiac Science, CCC Medical Devices, Cook Medical, GE Healthcare, MEDICO, SORIN GROUP, ZOLL Medical Corporation”.
|Report Attributes||Report Details|
|Report Title||Pacemakers Market Research Report|
|By Type||Implantable Cardiac Pacemakers, External Cardiac Pacemakers|
|By Application||Hospitals, ASCs, Clinics|
|By Companies||Boston Scientific, Medtronic, Cardiac Science, CCC Medical Devices, Cook Medical, GE Healthcare, MEDICO, SORIN GROUP, ZOLL Medical Corporation|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||219|
|Number of Tables & Figures||154|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Implantable Cardiac Pacemakers, External Cardiac Pacemakers and By Application Hospitals, ASCs, Clinics.
Some of the companies that are profiled in this report are:
Pacemakers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Pacemakers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Pacemakers Market Report:
Some other reports from this category!