The global pacemakers market was valued at USD 3,863.4 million in 2018 and is expected to grow at a CAGR of 2.5% over the forecast period. Pacemakers over the years have achieved a vital position in the field of cardiac surgery, due to their proven efficiency in treating cardiac failure and acute conditions of arrythmia.
The global pacemakers market is segmented based on their position, type, and technique. Geographically, the global market is collective to North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. North America occupies the largest market share of approximately 40%, followed by Europe. The adoption of MRI compatible pacemakers is the highest worldwide, while implantable pacemakers are in high demand.
The size of the worldwide pacemaker market was estimated to be USD 5.55 billion in 2022 and is projected to grow to roughly USD 9.44 billion by 2032.
.jpg "The Global Pacemakers Machine Market 2022-2032 (USD Billion)")
Major players competing in the global pacemakers market are Medtronic Plc, Boston Scientific Corporation, LivaNova, Biotronik, Lepu Medical, Abbott Laboratories, OSCOR, MEDICO, and Pacetronix.
Pacemakers Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 9.44 billion |
| Growth Rate | CAGR of NA % during 2022-2032 |
| Segment Covered | By Product, By Type, By Application, By End-use, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Boston Scientific Corporation, Zoll Medical Corporation, Medtronic, BIOTRONIK, MicroPort Scientific Corporation, Cook Medical, MEDICO SpA, Pacetronix, Oscor Inc., Osypka Medical GmbH, St. Jude Medical Inc., LivaNova PLC., lepumedical.com, Osypka Medical GmbH, MEDICOWEB, Others |
Key segments of the global pacemakers market
By Product (USD Billion)
o Internal pacemakers
• Single Chamber
• Dual Chamber
• Biventricular Chamber
o External pacemakers
By Type, (USD Billion)
• MRI Compatible Pacemakers
• Conventional Pacemakers
• Customary Pacemakers
By Implantability, (USD Billion)
• Implantable Pacemaker
• Hospital & Cardiac Centers
• Ambulatory Surgical Centers
By Application, (USD Billion)
o Arrhythmias
• Atrial Fibrillation
• Heart Block
• Long QT Syndrome
o Congestive Heart Failure
o Others
By End-use, (USD Billion)
• Hospitals & Cardiac Centers
• Ambulatory Surgical Centers
• Others
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
pacemakers market was valued at USD 9.44 billion in 2032.
The base year for the report is 2023 in pacemakers market
North America dominated the market for pacemakers market and accounted for the largest revenue share.
MRI compatible pacemakers is the biggest trend in pacemaker technology. These devices allow patients to safely undergo MRI examination without interfering with the device functioning. As reported by the Mayo Clinic, 75% of patients that have implantable cardiac devices need at least 1 MRI in their lifetime. Biotronik also reported that each year, at least 20% patients with pacemaker need MRI assessment within the first two years of implantation. In May 2015, the company also reported that 60% of the pacemakers sold by the company were MRI compatible.
It is also suggested that a majority of the patients with pacemakers are geriatrics and are likely to need MRI after implantation, as this population often may have other chronic conditions. Boston Scientific received FDA approval in 2016 for its system of MRI safe pacemaker products. Abbott also received FDA clearance in 2017 for its MRI safe Assurity MRI pacemaker and Tendril MRI lead. Furthermore, the Advisa MRI SureScan system from Medtronic is approved for 1.5T and 3.0T MRI scans.
Moreover, manufacturers are also working on improving the battery life of pacemakers. As pacemakers are also being implanted in younger patients, longevity of these devices is more sought after. Battery life of pacemakers often depend on the pacing needs; some manufacturers have developed algorithms for real time heart monitoring and reduce pacing for extending the battery life.
The global pacemakers market is classified based on the position, technique and types. Based on the position of pacemakers, the demand for implantable pacemakers is the highest due to the technological innovation towards improving the life and size of the implants. Among the techniques of pacemakers, biventricular pacemakers are anticipated to witness the fastest CAGR of over 3.5% during the forecast period. MRI compatible devices are in the highest demand and of high preference by surgeons, due to the proven convenience in post-surgery monitoring and treatment of other chronic conditions such as cancer, orthopedic trauma, etc.
.png "Global Pacemakers Market Share by Position (2018)")
Based on regions, the global pacemakers market is segmented into North America, Europe, Asia Pacific, Central and South America and Middle East & Africa.
-by-Region,-2018.png "Global Pacemakers Market Revenue (USD Million) by Region, 2018")
North America currently holds the largest share in pacemakers market. market owing to the better reimbursements, greater awareness in both patients and caregivers, higher prevalence of CVDs in the general population, greater adoption in geriatric patients and so on. Asia Pacific, on the ground of burgeoning medical tourism, improving healthcare infrastructure and insurance system will garner the highest growth rate during the forecast period. Countries such as India, China and Japan house the largest geriatric population. Implantation of pacemakers is always the highest in patients aged 65 and above. Influx of foreign patients in the region owing to better service through medical tourism is also contributing to the high growth rate of Asia Pacific market.