Cardiac Pacemaker Market

Cardiac Pacemaker Market Study by Implantable Pacemakers and External Pacemakers from 2024 to 2034

Analysis of Cardiac Pacemaker Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Cardiac Pacemaker Market Outlook (2024 to 2034)

The global cardiac pacemaker market size is estimated at US$ 3.92 billion in 2024 and is projected to expand at a CAGR of 4.6% from 2024 to 2034 to reach US$ 6.15 billion by 2034-end.

A pacemaker is a little device positioned beneath the skin in your chest that aids with heartbeat stabilization. Pacemakers are used to improve the consistency of an irregular heartbeat, or arrhythmia, particularly if it is slow. Cardiac prosthetic devices are essential in the treatment of various heart conditions, especially those where the heart's ability to pump blood or maintain proper rhythm is compromised.

  • A World Health Organization report published in July 2021 states that an estimated 17.9 million people worldwide die from heart disease each year, accounting for 31% of all fatalities globally, with heart disease and stroke accounting for 85% of these deaths.

Treatment of heart failure and other cardiovascular diseases is evolving due to technological advancements. The rising prevalence of heart diseases is putting a great deal of emphasis on creating technologically sophisticated products, which could influence the treatment of cardiovascular diseases over the projection period. Important market participants may introduce new products, which could accelerate the cardiac pacemaker market growth.

Report Attributes Details
Cardiac Pacemaker Market Size (2024E) US$ 3.92 Billion
Forecasted Market Value (2034F) US$ 6.15 Billion
Global Market Growth Rate (2024 to 2034) 4.6% CAGR
North America Market Share (2034F) 33.6%
East Asia Market Growth Rate
(2024 to 2034)
5% CAGR
Market Share of Implantable Pacemakers (2024E) 79.4%
East Asia Market Share (2024E) 15.8%
Key Companies Profiled
  • Medtronic PLC
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • Lepu Medical Co. Ltd.
  • Abbott Laboratories (ST Jude Medical)
  • Osypka Medical
  • OSCOR Inc.
  • MicroPort Scientific Corporation
  • Medico S.R.L.
  • Shree Pacetronix Ltd.

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Why is Use of Cardiac Pacemakers Increasing Steadily?

“Rising Product Authorizations by Regulatory Organizations”

One of the major cardiac pacemaker market trends is the growing approval of cardiac pacemakers by regulatory bodies. It not only demonstrates the effectiveness and safety of these life-saving devices but also gives manufacturers a chance to enter new markets and provide cutting-edge cardiac care solutions to an increasing number of patients.

A cardiac pacemaker that has received regulatory approval, which is frequently bestowed by health authorities like the European Medicines Agency (EMA) and the United States Food and Drug Administration (FDA), is considered to have met strict safety and performance standards. These approvals increase the pacemaker's overall credibility and dependability in the eyes of medical professionals and prospective users, which promotes increased adoption and acceptance.

“Increasing Confidence in Effectiveness and Safety of Pacemakers among Patients”

Regulatory clearances are a critical consideration for healthcare practitioners when selecting medical equipment for their patients. After gaining regulatory approval, a pacemaker is more likely to gain the trust of doctors, increasing its likelihood of being prescribed and used in treatment regimens.

Obtaining regulatory approvals helps reassure patients that the cardiac pacemaker they are getting has been put through a rigorous testing and assessment process. Patients' confidence in the effectiveness and safety of the medical intervention increases when they are aware that the device has complied with all applicable regulations.

What’s Impeding Cardiac Pacemaker Market Growth to Some Extent?

“Risk of Device Malfunction and Limited Awareness About Cardiovascular Ailments”

One paradoxical circumstance is the level of awareness regarding cardiovascular diseases (CVDs). On the one hand, ignorance can cause a delay in diagnosis and treatment, worsening health issues. This makes it a serious public health concern. However, this lack of knowledge presents a great chance for those involved in the healthcare sector, particularly those in the cardiac pacemaker business.

Factors that are projected to obstruct cardiac pacemaker market expansion include malfunctioning devices, costly treatment, and a lack of knowledge of cardiovascular ailments among the general public in developing countries. The future direction of the pacemaker market is projected to be determined by a focus on creative device launch tactics and the development of rapid, dependable, and reasonably priced diagnostic procedures.

“Market Growth Hindered by Possibility of Product Recalls and Safety Issues”

Pacemakers are intended for use in patients with moderate to severe heart failure, a condition in which the heart is unable to pump enough blood to meet the patient's needs. Over the forecast period, product recalls by industry participants are projected to have a detrimental impact on market growth.

  • For example, Boston Scientific, a manufacturer of medical devices, issued a recall warning for cardiac resynchronization therapy pacemakers (CRT-Ps) in August 2021 because of the possibility of going into safety mode. If there is a problem with the device, safety mode is meant to act as a backup.

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Country-wise Insights

Market growth in the United States is driven by factors such as a high prevalence of obesity and an elevated incidence of cardiovascular disease. The Asia Pacific market is projected to grow significantly over the forecast period because of the presence of a large patient pool with chronic illnesses and rising healthcare costs.

Why are Cardiac Pacemaker Manufacturers Focusing on the United States?

“Rising Prevalence of Cardiovascular Diseases among Aging Population”

Attribute United States
Market Value (2024E) US$ 1.19 Billion
Growth Rate (2024 to 2034) 4.6% CAGR
Projected Value (2034F) US$ 1.87 Billion

A sharp rise in the prevalence of cardiovascular diseases, including arrhythmias, congestive heart failure, and cardiac arrests, in the United States is fueling demand for pacemakers. In addition, the number of cardiac surgeries and technical advancements in the healthcare sector are influencing market growth.

Aging individuals with cardiac concerns, swift technological advancements, such as the creation of Bluetooth-enabled and MRI-compatible pacemakers, and enhanced regulatory clearances are significant drivers. Several significant entities, including Boston Scientific Corporation and Abbott Laboratories, playing a crucial role in the innovation, development, and promotion of cardiac supplies, are currently headquartered in the United States.

  • In September 2019, EBR Systems Inc. secured the FDA Breakthrough Device Designation for its WiSE (Wireless Stimulation Endocardially) CRT System, a treatment for heart failure.

Why is Japan a Lucrative Market for Cardiac Pacemaker Manufacturers?

“Increasing Investments in Healthcare Sector”

Attribute Japan
Market Value (2024E) US$ 249 Million
Growth Rate (2024 to 2034) 4.8% CAGR
Projected Value (2034F) US$ 398 Million

There has been a surge in investments in the healthcare sector in Japan. The country is steadily focusing on building robust treatment and rehabilitation healthcare facilities for the diagnosis and treatment of cardiovascular diseases.

Category-wise Insights

Implantable cardiac pacemakers are estimated to occupy a leading share of the market in 2024. Implantable pacemakers maintain a regular heart rhythm by sending electrical impulses to the heart when it beats too slowly (bradycardia) or irregularly.

Hospitals generally have advanced medical equipment, making them a preferred choice for check-ups. The fact that hospitals have qualified medical staff on hand to carry out these crucial procedures has also contributed to market growth.

Why are Implantable Pacemakers Widely Preferred?

“MRI Compatibility and Remote Monitoring Capabilities Driving Use of Implantable Pacemakers”

Attribute Implantable Pacemakers
Segment Value (2024E) US$ 3.11 Billion
Growth Rate (2024 to 2034) 4.6% CAGR
Projected Value (2034F) US$ 4.87 Billion

Implantable pacemakers are tiny medical devices used to treat arrhythmias or abnormal heartbeats. They are surgically inserted beneath the skin, usually close to the collarbone. These devices are essential for patients suffering from certain kinds of cardiac rhythm abnormalities.

Since more recent models are MRI-safe, patients can have MRIs as needed. Newer pacemakers have longer-lasting batteries that typically last seven to fifteen years before needing to be changed. With the ability to transmit data to healthcare providers for routine check-ups, many pacemakers today are equipped with remote heart monitoring devices.

Implantable pacemakers are an advancement in medical technology that can significantly improve the lives of those who suffer from certain cardiac rhythm abnormalities. Patients with cardiac arrhythmias are living longer due to the constant improvements in pacemaker technology, which also improves their convenience, safety, and functionality.

Will Hospitals Continue Leading Revenue Generation for Market Players?

“Presence of Skilled Personnel and Specialized Units”

Attribute Hospitals
Segment Value (2024E) US$ 3.29 Billion
Growth Rate (2024 to 2034) 4.5% CAGR
Projected Value (2034F) US$ 5.11 Billion

Hospitals are an important end user of cardiac pacemakers. They are essential to the pacemaker's whole lifecycle, from installation and upkeep to replacement and enhancements.

A majority of pacemaker insertion procedures take place in hospitals, which means that skilled personnel and specialist cardiac surgery units are needed. Hospital admissions for heart-related disorders are directly correlated with an increase in pacemaker implantations.

Most hospitals have advanced tools and technology required for complex pacemaker treatments, like MRI-compatible devices or leadless pacemakers. Their rapid adoption of new technology has an impact on the types of pacemakers that are in demand.

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Competitive Landscape

Constant innovation includes novel pacemakers and gadgets that work with MRIs and other diagnostic equipment. Manufacturers are focusing on developing devices that offer remote monitoring and extended battery life. Businesses are using mergers & acquisitions to increase the scope of their product lines and geographic reach as well as partnerships with a strategic focus on R&D and technology advancements.

  • In June 2021, Micra AV was introduced by India Medtronic Private Limited, a division of Medtronic PLC. Through a minimally invasive procedure, this compact and self-contained pacemaker provides cutting-edge pacing technology to address atrioventricular blocks through a minimally invasive approach.

Segmentation of Cardiac Pacemaker Market Research

  • By Product Type :

    • Implantable Pacemakers
    • External Pacemakers
  • By Technology :

    • Single Chamber
    • Dual Chamber
    • Biventricular/Cardiac Resynchronization Therapy-pacemakers (CRT-P)
  • By End User :

    • Hospitals
    • Ambulatory Surgical Centers
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

What is the cardiac pacemaker market size in 2024?

The global cardiac pacemaker market is estimated at US$ 3.92 billion in 2024.

What is the sales projection for cardiac pacemakers for 2034?

By 2034-end, worldwide sales of cardiac pacemakers are forecasted to reach US$ 6.15 billion.

How fast is the demand for cardiac pacemakers projected to increase?

Demand for cardiac pacemakers is forecasted to rise at 4.6% CAGR from 2024 to 2034.

At what pace is the North American market growing?

The North American market is projected to expand at 4.6% CAGR from 2024 to 2034.

At what rate is the use of cardiac pacemakers projected to increase in hospitals?

Use of cardiac pacemakers in hospitals is forecasted to increase at a CAGR of 4.5% from 2024 to 2034.

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