Cardiac Pacemaker Market to Declining at a CAGR of -0.5% over the Forecast Period 2024

Global cardiac pacemaker market is projected to exhibit a declining CAGR of -0.5% during the forecast period in terms of value and is expected to reach to US$ 3,923.8 Mn by 2024 end

This report by Persistence Market Research (PMR) examines the global cardiac pacemaker market for the period 2016-2024. The primary objective of the report is to offer updates and information related to market opportunities in the Global Cardiac Pacemaker Market.

The global cardiac pacemaker market report begins with an exhaustive executive summary giving the report data overview and the market taxonomy or segments covered in the report. It is followed by an overview of market dynamics of the global cardiac pacemaker market, which includes Persistence Market Research analysis of key trends, drivers, restraints and opportunities, and reimbursement scenario that is influencing the growth of the global cardiac pacemaker market. It also includes an insight into pricing of the products. Impact analysis of key growth drivers and restraints based on a weighted average model have been included in the global cardiac pacemaker market report after detailed analysis of individual regions to better equip readers with meaningful insights on ongoing developments in the market.

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Based on product type, the market has been segmented into implantable pacemaker and external pacemaker. Implantable pacemaker are further sub segmented into single chamber, dual chamber and biventricular pacemaker, all the three sub segment have exhibited a negative CAGR due to device malfunctioning. Further, based on end-user segmentation, hospitals segments are the most attractive segment for cardiac pacemaker market compared to ambulatory surgical centers as most of the pacemaker implants are performed in registered hospitals.

The next section of the report analyses cardiac pacemaker market by region and provides market outlook for 2016-2024. The report also analyses the impact of drivers and restraints in each region. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).

The above sections-by product type, end users, and region-evaluate the present scenario and growth prospects of the global cardiac pacemaker market for 2016-2024. We have considered 2015 as the base year and provided data for the forecast period, i.e., 2016-2024.

In the final section of the report on the global cardiac pacemaker market, 'Competitive Landscape' is included to provide report audiences with a dashboard view, based on categories of providers in the cardiac pacemaker market product portfolio and key differentiators. Key categories of providers covered in the report are pacemaker devices. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the cardiac pacemaker market value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and successes in cardiac pacemaker market.

Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings, SWOT analysis, and recent developments in the global cardiac pacemaker market.

Key competitors covered in terms of manufacturers include Medtronic's, St.Jude Medical Inc., Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Lepu Medical Technology Co ltd., MEDICOWEB, Pacetronix ltd., LivaNova Plc., and Osypka Medical GmbH.

Drivers and Restraints:

Drivers:

• Increasing prevalence of cardiovascular diseases: The growing incidence of cardiovascular diseases, such as arrhythmias and heart failure, is driving the demand for cardiac pacemakers. As the global population ages and the prevalence of risk factors like hypertension and diabetes increases, the demand for pacemakers is expected to rise.
• Technological advancements in pacemaker devices: Advances in pacemaker technology have led to the development of smaller, more efficient, and feature-rich devices. These technological advancements, including wireless communication capabilities, remote monitoring, and longer battery life, are attracting more patients and healthcare providers to opt for pacemakers, thereby driving market growth.

Restraints:

• High cost of pacemaker devices and procedures: The cost associated with pacemaker devices and implantation procedures can be a significant barrier to market growth. The high cost of pacemakers, coupled with the need for surgical procedures and follow-up care, can limit the adoption of these devices, particularly in developing regions with limited healthcare budgets.
• Risk of complications and device failures: Although cardiac pacemakers are generally considered safe and effective, there is a risk of complications during implantation and post-implantation, such as infections, bleeding, or device malfunction. These risks and the potential need for reoperation or device replacement can deter some patients and healthcare providers from choosing pacemakers.

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Research methodology

To ascertain cardiac pacemaker market size, we have also considered revenue generated by device manufacturers. The forecast presented here assesses the total revenue by value across the cardiac pacemaker market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the cardiac pacemaker market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand, and the economic envelope.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze it based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market, and to identify the right opportunities across the cardiac pacemaker market.

The cardiac pacemaker market segments in terms of product type, end users, and regions are analyzed in terms of Basis Point Share (BPS) to understand individual segment's relative contributions to market growth. This detailed level of information is important for identifying various key trends in the cardiac pacemaker market.

To understand key growth segments in terms of growth and adoption for pacemaker implant globally, Persistence Market Research has developed the cardiac pacemaker market 'Attractiveness Index'. The resulting index is expected to help providers identify real market opportunities.

Global cardiac pacemaker market segment analysis

Based on product type, the market has been segmented into implantable pacemakers and external pacemakers. Implantable pacemaker segment is expected lose market share by 2024 and reach US$ 3,116.2 Mn. The loss in revenue is due to preference given to cardiac defibrillators over pacemakers for treating arrhythmias.

A cardiac defibrillators is similar in shape and size to a pacemaker and is able to perform defibrillation and pacing of the heart thus able to treat life threatening arrhythmias. Implantable cardiac pacemaker will remain the most attractive segment in terms of revenue generation when compared to external pacemaker segment due to its modality and effectiveness over external pacemaker which allows for temporary pacing and technological advancements.

Based on major end users, the cardiac pacemaker market is segmented into hospitals and ambulatory surgical centers. Hospitals segment are expected to account for the highest share for cardiac pacemaker market over the forecast period due to higher rate of implants that take place in the hospitals segment as the reimbursement rates offered are better as compared to ambulatory surgical centers.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

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Report highlights: 

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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