Pacemakers Market By Implantability (Implantable Pacemaker- Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular/CRT Pacemaker, And External Pacemaker), By Device Type (MRI Compatible Pacemaker, Leadless MRI Compatible Pacemaker), By End-User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, Others), By Geography is expected to grow at a steady CAGR Forecast till 2026 owing to rising technological advancement and increasing prevalence of Cardiovascular Diseases.
Global Pacemakers Market was valued at USD 4.63 billion in 2020, growing at a CAGR of 5.81% during the forecast period from 2021 to 2026, to reach USD 5.78 billion by 2026. The demand for Pacemakers is primarily motivated due to the rise in cardiovascular diseases (CVDs), superior treatment outcomes of sudden cardiac arrests, and growing technological advancements.
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List of companies involved in the report
- Medtronic, Inc.
- St. Jude Medical, Inc.
- Boston Scientific Corporation
- Biotronik SE & Co. KG
- LivaNova PLC
- Shree Pacetronix Ltd.
- OSCOR Inc.
- MEDICO S.p.A.
- Lepu Medical Technology Co. Ltd.
- MicroPort Scientific Corporation
- and many others
Pacemakers Market Dynamics
Pacemakers Market has significantly increased due to the increasing prevalence of cardiovascular diseases, which leads to the demand in the market for pacemakers. According to Pan American Health Organization (PAHO), cardiovascular diseases cause more deaths each year than any other disease. Heart disease and stroke-related fatalities account for more than three-quarters of all deaths in low- and middle-income nations, as of June 2021. Thus, the burgeoning cases of cardiovascular diseases will contribute to the Global Pacemakers Market growth.
Pacemakers Market Segment Analysis
Pacemakers market by Implantability (Implantable Pacemaker- Single-Chamber Pacemaker, Dual-Chamber Pacemaker, Biventricular/CRT Pacemaker, and External Pacemaker), Pacemakers market by Device Type (MRI Compatible Pacemaker, Leadless MRI Compatible Pacemaker), Pacemakers market by End-User (Hospitals, Cardiac Centres, Ambulatory Surgical Centres, Others), and Pacemakers market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Pacemakers Market Insights
Pacemaker’s market implantability segment, the implantable pacemaker’s market segment is expected to hold the largest share in the market and this trend is expected to continue during the forecast period. The rapid growth of this implantability segment can be attributed to the preference these pacemakers have over their external counterparts. In the type of device segment, the biggest trendsetter in pacemaker technology in the last few years has been the introduction of US Food and Drug Administration (FDA)-cleared MRI compatible models, as these pacemakers minimize heating potential, dislodgement, current induction, and electromagnetic interference. These allow patients to undergo MR imaging exams without harm to the device or changes to the device settings. Pacemakers without MRI-conditional use technology usually prevented patients from being able to get an MRI.
Recent Developmental Activities in the Pacemakers Market
- In June 2021, Medtronic launched the world's smallest pacemaker to treat heart block. Micra AV with atrioventricular synchrony is the first pacemaker that can sense atrial activity without a lead or device in the upper chamber of the heart. The in-house created pacemaker is small enough to go inside the heart via a catheter. This will prove as a game-changer in the Pacemakers market.
- In June 2020, Medtronic PLC announced it has received CE Mark for Micra™ AV Transcatheter Pacing System (TPS), the world’s smallest pacemaker with atrioventricular (AV) synchrony.
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Table of content
1. Pacemakers Market Report Introduction
2. Pacemakers Market Executive summary
3. Regulatory and Patent Analysis
4. Pacemakers Market Key factors analysis
5. Pacemakers Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Pacemakers Market
7. Pacemakers Market layout
8. Pacemakers Global Company Share Analysis – Key 3-5 Companies
9. Pacemakers Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight
Frequently Asked Questions for Pacemakers Market
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