Failure to restore normal sinus rhythm of the heart results in abnormal or ectopic heartbeat, often referred as cardiac arrhythmia. The arrhythmia is initiated by three discernable etiologies such as re-entry, automaticity and triggered. Automaticity occurs due to alterations in the ion exchange at cellular level. Re-entry occurs when the propagating electric impulse does not fade away and re-excites the heart even after the refractory period is over. Triggered events rarely occur from abnormalities encountered in the heart muscles ion exchange. Pacemakers are used in patients to maintain the normal heartbeat in patients suffering with cardiac arrhythmias.
Pacemakers used for the treatment of irregular heartbeats are segmented as implantable and external. The implantable pacemakers are further categorized as single chamber, dual chamber and biventricular pacemakers. There is tremendous demand for dual chamber pacemakers due to their dual ability to stimulate the right atrium and right ventricle. Biventricular pacemakers are also referred as cardiac resynchronization therapy (CRT) serves as a lucrative market in the near future.
Country cross-sectional analysis regarding different types of pacemakers available is done by giving the data forecast and market estimation.
Porter’s five forces model gives a brief idea regarding the competitive rivalry in the pacemakers market. Market assessment provides comprehensive information about the existing business milieu in the pacemakers market. Key developments section in the company profiles tracks all the recent mergers, acquisitions and strategic partnerships between medical device manufacturers to upgrade the technical aspects related to cardiac pacemakers. Product portfolio exhibits the various pacemakers offered by major market players which include Boston Scientific Corporation, Biotronik, Inc., Cordis, Inc., Medtronic Plc, MEDICO S.p.A., OSCOR, Inc., Pacetronix, St. Jude Medical, Vitatron and ZOLL Medical Corporation.
Pacemakers employ electrical impulses generated by an electrode to facilitate contraction of the heart muscles. It is a very useful device which is used for regulating the heart beats. Pacemakers constantly detect the normal heartbeat; when there is no normal heart beat, and is responsible for stimulating the ventricles due to low voltage impulse. The recent technological advancements in pacemakers such as transitional tissue welding, dynamic pacemaking technology and microprocessor controlled devices are contributing to the market growth. Implantable pacemakers are currently dominating the market on account of rising prevalence of cardiac arrhythmia cases, bradycardia, tachycardia etc. Moreover the multiple leads present in the pacemakers enable to restore normal functioning of the heart. External pacemakers serve as a potential market for the management of bradyarrythmia owing to meritorious features such as ergonomic dials design and soft keys to set stimulation parameters. The key players leading the pacemakers market are Boston Scientific Corporation, Biotronik, Inc., Cordis, Inc., Medtronic Plc, MEDICO S.p.A., OSCOR, Inc., Pacetronix, St. Jude Medical, Vitatron and ZOLL Medical Corporation.
The Centers for Disease Control and Prevention 2015 report has cited that in the United States approximately 2.7 to 6.1 million people are suffering with atrial fibrillation. Around 2% of the people below 65 years of age and 9% people above 65 years of age have atrial fibrillation. The occurrence is more in people having European descent and less likely to occur in African American individuals. Rising public health awareness and increasing number of patients being diagnosed with cardiac arrhythmia drive the pacemakers market in North America. Technological advancement in the development of pacemakers in Western Europe and rising prevalence of cardiac complications in Eastern Europe drive the pacemakers market in Europe. Asia Pacific will be the most potential regional market during the forecast period from 2018 to 2026 owing to the growing penetration of major medical device companies manufacturing cardiac pacemakers. The affordable reimbursement scenario for cardiac pacemakers also contributes to the market growth of Asia Pacific.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pacemakers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
