Cardiac Pacemaker Market Demand and Revenue Analysis By Global Leading Players Medtronic Plc., BIOTRONIK, Inc., Boston Scientific Corporation, Abbott Laboratories, Vitatron Holding B.V., Shree Pacetronix Ltd., MEDICO S.p.A., LivaNova PLC

Cardiac pacemaker is a medical device placed in the chest to control abnormal heart rhythm of the patient by using electrical pulses, which prompt the heart to contract and pump blood. Pacemakers have ability to monitor and record heart's rhythm and electrical activity. Cardiac pacemaker is composed of a small titanium encased pulse generator, which contains a lithium battery and electrical circuitry attached to one, two, or three leads, which are inserted into the heart. Pacemaker pulse generators should be checked twice to thrice a year and must be replaced every five to ten years. The technical advantages of lithium iodine battery in terms of its longevity, adaptable shapes and sizes, light weight, no gas generation, corrosion resistance, and excellent current drain characteristics makes the cardiac pacemakers suitable to last as long as the expected lifetime.

The global cardiac pacemaker market was valued at US$ 5,972.2 million in 2017, and is expected to witness a CAGR of 7.3% over the forecast period (2018–2026).

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Market Dynamics

New product launches by market players, owing to technological advancement in cardiac pacemakers are expected to drive growth of the market. Key manufacturers are engaged in launching more compact and efficient pacemaker device, which allows better control of abnormal heart rhythm along with additional specifications such as blood temperature monitor and breathing rate. For instance, in May 2016, Biotronik launched CardioMessenger Smart, portable monitoring device in the U.S. This system is about the size of a modern smartphone used to keep pacemaker, Implantable Cardioverter Defibrillator (ICD) and Insertable Cardiac Monitor (ICM) patients connected to their physician remotely. This CardioMessenger Smart helps to ensure patient compliance and the consistent transmission of data necessary for physicians to identify and prevent potential cardiac events. Moreover, high prevalence of cardiovascular disease is the major factor driving growth of global cardiac pacemaker market over the forecast period. As per statistics published by the World Health Organization (WHO), globally, an alarmingly high number of deaths resulted from cardiovascular disease in 2012, resulting in 31.0% or equating to 17.5 million lives. Among these, around 40.0% and 38.0% deaths were caused by coronary heart disease and stroke, respectively.

Cardiac Pacemaker Market Regional Outlook

On the basis of geography, the global cardiac pacemaker market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to hold dominant position in this market, owing to increasing prevalence of heart diseases and adoption of technologically advanced products. Moreover, factors such as improved healthcare facilities and better reimbursement scenario are also driving growth of the cardiac pacemakers market in this region. In March 2017, Medtronic issued Medicare reimbursement for the first leadless cardiac pacemaker Mica Trans catheter Pacing System (TPS), which is available in the U.S. Asia Pacific is projected to witness significant growth in market over the forecast period, owing to presence of large patient population, increasing healthcare expenditures in emerging economies such as India and China which, and growing healthcare sector. Emerging economies such as Asia Pacific and Latin America has huge potential for market growth and is likely to be the fastest growing region throughout the forecast period.

Cardiac Pacemaker Market Key Players

Major companies operating in the cardiac pacemaker market include Medtronic Plc., BIOTRONIK, Inc., Boston Scientific Corporation, Abbott Laboratories, Vitatron Holding B.V., Shree Pacetronix Ltd., MEDICO S.p.A., Lepu Medical Technology Co Ltd., LivaNova PLC, and Qinming Medical, and Cordis Inc.

Detailed Segmentation:

Global Cardiac Pacemaker Market, By Product Type:
Single Chambered
Dual Chambered
Biventricular
Implantable Cardiac Pacemaker
External Cardiac Pacemaker

Global Cardiac Pacemaker Market, By End User:
Hospitals
Ambulatory Surgical Centers

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