Press release
Pacemakers Market Outlook, Top Trends, Share Analysis, Report Overview By 2033
Pacemakers Market
The pacemakers market size is expected to see strong growth in the next few years. It will grow to $7.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to telemedicine, public and private healthcare investment, pediatric and neonatal care, surgical techniques, miniaturization and leadless devices. Major trends in the forecast period include artificial intelligence (ai), wearable health tech, remote programming, electrophysiology procedures, technological advancements.
Market Overview -
Pacemakers refer to small devices that are placed in the chest to help control the heartbeat. It is being used to prevent the heart from beating too slowly. The pacemaker is used to treat fainting spells, congestive heart failure, and hypertrophic cardiomyopathy.
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Rising Prevalence Of Cardiovascular Diseases Fuels Pacemaker Market Growth
The increasing prevalence of cardiovascular diseases is contributing to the growth of the pacemaker market going forward. Cardiovascular diseases refer to diseases that affect the heart and blood vessels. Drug discovery technologies are used to discover new drugs for cardiovascular diseases. Pacemakers include flexible and insulated wires that are helpful in controlling cardiovascular diseases by controlling irregular heart rhythms. For instance, in 2021, according to the World Health Organization, a Switzerland-based government agency, India would account for one-fifth of the total deaths occurring from stroke and ischemic heart disease, mainly in younger adults. Additionally, according to the Center for Disease Control and prevention, an American national public health agency, in 2021, approximately 695,000 individuals in the United States lost their lives to heart disease, accounting for 1 out of every 5 fatalities. Therefore, the increasing prevalence of cardiovascular diseases will drive the growth of the pacemaker market.
Competitive Landscape -
Major companies operating in the pacemakers market include Boston Scientific Corporation, ZOLL Medical Corporation, Medtronic plc Biotronik Medical Devices India Pvt ltd., MicroPort Scientific Corporation, Cook Medical Incorporated, MEDICO S.p.A., Shree Pacetronix Ltd., Oscor Inc., Osypka Medical GmbH, Abbott Laboratories, LivaNova PLC, Lepu Medical Technology(Beijing)Co Ltd., Cordis Inc., Vitatron Holding B.V., Integer Holdings Corporation, Zoll Medical Corporation, Synapse Biomedical Inc., Pacetronix Limited, A&E Medical Corporation, Cardiac Rhythm, Sorin Group Italia S.r.l., Galix Biomedical Instrumentation Inc., Imricor Medical Systems Inc., Sterimed Group, Edwards Lifesciences Corporation, Aleva Neurotherapeutics SA, Adiant Medical Inc., SMT Medical GmbH & Co. KG, Spacelabs Healthcare Inc., BioTrace Medical Inc.
Pioneering Innovation In The Pacemaker Market With Leadless Devices
Major companies operating in the pacemaker market are developing innovative products such as leadless pacemakers to meet larger customer bases, more sales, and increase revenue. Leadless pacemakers are a type of cardiac implantable electronic device (CIED) used to regulate the heartbeat and treat certain heart rhythm disorders. For instance, in July 2023, Abbott, a US-based medical device company, announced the U.S. Food and Drug Administration (FDA) approval for the AVEIR dual chamber (DR) leadless pacemaker system. With more than 80% of individuals requiring a pacemaker needing dual-chamber pacing (simultaneous pacing of both the right atrium and right ventricle), this approval significantly expands access to leadless pacing for millions of people in the United States. AVEIR DR devices, enabled by Abbott's proprietary i2i communication technology, offer synchronized or coordinated cardiac pacing between two leadless pacemakers based on a patient's clinical requirements. The i2i technology operates by employing high-frequency pulses to transmit messages through the body's naturally conductive blood, linking each leadless pacemaker. To facilitate dual-chamber therapy, each implant engages in real-time communication with its co-implanted counterpart, ensuring effective and synchronized cardiac pacing.
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Key Segments -
The pacemakers market covered in this report is segmented -
1) By Type: MRI Compatible Pacemaker, Conventional Pacemaker
2) By Technology: Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular or CRT Pacemaker
3) By Implantability: Implantable Pacemaker, External Pacemaker
4) By Application: Congestive Heart Failure, Arrhythmias, Bradycardia, Tachycardia
5) By End-User: Hospitals, Cardiac Care Centres, Ambulatory Surgical Centres, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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