Pacemaker Market Set for Expansion Amid Rising Global Cardiac Care Needs | Projected to Hit $6.67 Billion by 2030

According to the report published by Allied Market Research, the global Pacemaker Market generated $4.66 billion in 2020, and is expected to reach $6.67 billion by 2030, witnessing a CAGR of 3.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, value chain, regional landscape, and competitive scenario.

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COVID-19 Impact Analysis (Pre & Post) -

• The non-essential procedures were postponed due to shift in resources to take care of increasing number of patients suffering from the Covid-19 infection. This led to postponement of surgeries related to pacemakers. However, the surgeries were carried out in extreme cases.

• The R&D activities were stopped partially or completely as investments were locked to deal with the economic uncertainties. Moreover, the speed of technological advancements for pacemakers lowered down.

Factors driving the fastest growing market include the increase in cardiovascular diseases such as heart attack, stroke, bradycardia, atrioventricular (AV) block, and arrhythmia; increase in blood pressure; the development of the medical sector and the proliferation of minimally invasive surgical procedures. For example, according to the American Heart Association, more than 100 million Americans have high blood pressure in 2018. High blood pressure is one of the most common risk factors for heart arrhythmias. Patients with high blood pressure are more likely to have supraventricular and ventricular arrhythmias.

Increase in prevalence of cardiovascular diseases, rise in demand for advanced pacemaker devices in the healthcare sector, and surge in geriatric population are anticipated to drive the growth of the pacemaker market. In addition, surge in demand to improve patient health has led to the development of innovative technologies in the pacemaker, thereby propelling the growth of the market.

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Important Key Market Players Are -

• Abbott Laboratories
• BIOTRONIK
• Boston Scientific Corporation
• Lepu Medical
• Livanova
• MEDICO SpA
• Medtronic
• Oscor Inc.
• Osypka Medical GmbH
• Shree Pacetronix

Based on the input, the market is divided into an internal software developer and an external software developer. The pacemaker segment dominates the market in 2020 and is expected to continue this trend during the forecast period, due to the increase in bradycardia, the increase in demand for those who speed up the progress of R&D projects in the health sector. On the basis of end user, the market is segmented into hospital and cardiac centers and ambulatory surgery centers. The hospital and heart center segment are dominating the market in 2020.

Key Findings of The Study -

• By technology, the dual chamber pacemaker segment was the highest contributor to the market in 2020.

• On the basis of implantability, the implantable pacemaker segment was the highest contributor to the market in 2020.

• Depending on end user, the hospitals & cardiac centers segment dominated the market in 2020, and is expected to continue this trend during the forecast period.

• Region wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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Geographic Segments Covered in the Report -

The pacemaker market report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (USA and Canada)

• Europe (UK, Germany, France and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• Middle East and Africa (GCC and rest of the Middle East and Africa)

Frequently Asked Questions?

Q1. Which is base year calculated in the pacemaker market report?

Q2. Does the pacemaker company is profiled in the report?

Q3. Which are the top companies hold the market share in pacemaker market?

Q4. Does the pacemaker market report provide Value Chain Analysis?

Q5. What are the key trends in the pacemaker market report?

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