Cardiac Pacemakers Market

Cardiac Pacemakers Market Outlook (2023-2033)

The global cardiac pacemakers market is valued at US$ 4.99 billion in 2023. Worldwide sales of cardiac pacemakers are predicted to increase at a CAGR of 3.5% and reach a market valuation of US$ 7.04 billion by the year 2033.

Cardiac pacemakers are classified into implantable cardiac pacemakers and external cardiac pacemakers. Demand for external cardiac pacemakers and implantable cardiac devices is expected to increase at the CAGRs of 4% and 3%, respectively, during the next 10 years.

When compared with each other, external and implantable pacemakers both are growing at a steady pace. Due to the simple configuration, improved user experience, and enhanced battery indicator system, the external pacemakers are anticipated to see promising growth during the projection period.

External pacemakers can be carried out with minimal-invasive surgeries, therefore there is a lower chance of problems post-treatment. The devices also let patients monitor and record their everyday heart functioning. Also, external pacemakers are the quickest cardiac rhythm synchronisation devices currently in the market, which also promotes the sales of these resynchronization pacemakers.

Implantable cardiac pacemakers are preferred by senior cardiac patients. The product's many benefits, such as its ability to reduce the symptoms of an irregular, slow heartbeat and restore normal heart rhythms, which in turn helps eliminate the symptoms of bradycardia, will further propel the market for cardiac pacemakers. Also, implantable pacemakers are used to control erratic heartbeats. These devices are implanted in patients who suffer from cardiac arrhythmia, a disorder of the heart marked by an erratic heartbeat pattern.

Dynamic pacemaker technology and microprocessor-controlled devices are two recent advancements in implantable pacemakers that are enhancing device effectiveness and promoting sales growth.

A pacemaker is an electronic device that regulates and monitors a patient's heartbeat using brief electric stimulation. Pacemakers can be used for a short period or a very long period, depending on the needs of the heart. Together with this, pacemakers play a significant role in monitoring, evaluating, and giving physiologic heart rate as well as diagnostic data concerning a heart problem. There are two forms of arrhythmias: bradycardia and tachycardia. Tachycardia and bradycardia are terms used to describe an abnormally fast or sluggish heartbeat.

Fatigue and fainting are symptoms of an arrhythmia, which occurs when the heart is unable to pump sufficient blood to the other areas of the body. Without any indication of coronary heart disease, the incidence of atrial and ventricular arrhythmias rises with age. Pacemakers help patients to live healthy and active lifestyles.

In the immediate aftermath of congenital cardiac surgery, temporary epicardial pacemakers are frequently utilised for the diagnosis and treatment of arrhythmias. A potentially life-saving device used largely to treat severe bradycardia is a transvenous cardiac pacemaker, commonly known as an endocardial pacemaker.

The market is primarily being driven by rising rates of cardiovascular diseases (CVDs), advancements in cardiac disease management, supportive governmental policies for healthcare across the globe, and the development of technologically sophisticated pacemakers such as leadless pacemakers and MRI-safe pacemakers.

Report Attributes	Details
Cardiac Pacemakers Market Size (2023E)	US$ 4.99 Billion
Forecasted Market Value (2033F)	US$ 7.04 Billion
Global Market Growth Rate (2023-2033)	3.5% CAGR
China Market Growth Rate (2023-2033)	5.5% CAGR
Japan Market Growth Rate (2023-2033)	2% CAGR
Germany Market Growth Rate (2023-2033)	2.5% CAGR
Key Companies Profiled	Abbott Laboratories, Inc. Boston Scientific Corporation Cordis, a Cardinal Health company Medico SpA Medtronic PLC Shree Pacetronix Ltd. Vitatron Holding BV ZOLL Medical Corporation

Which are Growth Opportunities Present in the Cardiac Pacemakers Market?

“Rising Worldwide Prevalence of Cardiovascular Disorders”

Demand for cardiac pacemakers is expected to increase due to the rising prevalence of cardiovascular diseases. The worldwide illness burden is being exacerbated by the high prevalence of cardiovascular diseases such as congenital heart disease, rheumatic heart disease, coronary heart disease, and cerebrovascular disease.

According to WHO,

• The biggest cause of death worldwide is cardiovascular disease.
• Cardiac arrests and strokes account for more than 80% of deaths from cardiovascular illnesses. In the coming years, these numbers are expected to increase.

Significant increase in the incidence of cardiovascular disorders is attributable to behavioural risk factors, including heavy alcohol and cigarette consumption, obesity, poor diet, and inactivity. Thus, these disorders boost the use of pacemakers.

“Advancements in Pacemaker Technologies”

Cardiac prosthetic devices replace or assist the native heart organs or tissues that have been injured or grown unwell to improve patients' cardiac function. To replace and mend artificial heart tissue, cardiac prosthetic devices may be implanted permanently or merely temporarily.

Technology advancements in products, particularly in the many types of valves and pacemakers, have substantially helped the management of valvular heart diseases such as regurgitation and stenosis in the aorta and mitral valve.

The advancement of pacemaker technology has fueled the widespread usage of cardiac prosthetic devices. Advanced implantable cardioverter defibrillators (ICDs) function as pacemakers in addition to defibrillators to prevent sudden cardiac arrest in the event of arrhythmias.

Which Major Factors Affect the Production of Cardiac Pacemakers?

“High Excise Duty and Strict Regulations for Product Approvals”

According to the U.S. FDA, pacemakers are class III high-risk medical devices. To obtain approval, these devices must pass strict safety and effectiveness examinations. One of the provisions that would limit market expansion is the burden of a high excise levy on all medical gadgets.

Additionally, these gadgets must go through the pricey and drawn-out premarket approval procedure. Because safety and effectiveness are the two foremost goals of a maker, the constraint would have little effect. The profit margins linked with a product's successful commercialization far outweigh the expense that manufacturers incur during the clinical testing process.

It can be difficult for pacemakers to pace the intended cardiac chamber. These issues can include capture failure or output failure. Pacemakers can also stop working when they are unable to recognise the natural signals the heart produces, in addition to failing to pace the desired area of the heart. One of the many events that might result in a pacemaker malfunctioning is lead displacement.

A majority of cases have cited improper therapy delivery and device battery issues as the cause of product recall. Additionally, CRTs, leads, implantable artificial organs, and software flaws were blamed for the remaining recalls.

• FDA issued a recall for thousands of pacemakers that Abbott had marketed over the previous four years in March 2021. The electrical faults that led to the recall caused the devices to stop the heart from beating, provide doctors with false information, or drain the battery more quickly than they should have. This was because there was a chance that moisture getting inside the equipment could cause electrical shorts.
• The dual-chamber implantable pulse generators (IPGs) were recalled by Medtronic plc (Ireland) in May 2019 because there was a chance that a software fault may prevent pacing.

As a result, the market for cardiac pacemaker devices is somewhat hampered by the rise in recorded occurrences of pacemaker malfunction and accompanying product recalls.

How are Newcomers Trying to Achieve a Strong Market Position?

“New Market Entrants Producing Improved Pacemakers”

To remain competitive in the market, new entrants are putting cutting-edge concepts into effect. Modern methods are being used by new businesses to increase the lifespan of pacemakers.

• American start-up VoltXon produces pacemakers without batteries. The start-up's VX-P8 gadget uses innovative energy storage and harvesting method based on graphene. The energy that is extracted from the patient's body is stored using biosupercapacitors. Long-lasting cardiac pacemakers are a more practical alternative to the battery-powered traditional pacemakers which only last a few years according to the start-up's technology.

Country-wise Analysis

Why is the United States a Prime Market for Cardiac Pacemaker Suppliers?

“High Incidence of CVDs among Youngsters”

The high level of awareness and accessibility of cardiac pacemakers in the United States is a crucial factor driving sales growth. Cardiovascular diseases (CVDs) are more prevalent in children and young people in the United States due to their unhealthy lifestyles as compared to the older population.

• Additionally, nearly half of Americans, including those with high blood pressure, have some sort of heart disease, according to statistics from the American Heart Association that were released in January 2019.

The need for cardiac pacemakers, cardiovascular equipment, monitoring equipment, and diagnostic equipment is brought on by the spread of heart disorders. Demand for cardiac pacemakers is being driven by an increase in the use of cardiac prostheses and artificial hearts, an increase in the number of treatments performed on hearts, and a growing desire for minimally-invasive procedures.

Pacemakers have been powered by a variety of materials over the years, including radioactive substances such as plutonium-238. There are still some persons in the United States who use nuclear-powered cardiac pacemakers, which must be appropriately disposed of after removal.

How is Asia Pacific Emerging as a Crucial Market for Cardiac Pacemakers?

“Rapidly Advancing Healthcare Industry”

Market players are attracted to Asia Pacific countries such as Japan, South Korea, China, and India to plant new manufacturing units due to the rapidly developing healthcare industry. These nations are concentrating on creating effective cardiovascular diagnosis and treatment facilities.

Factors driving the cardiac pacemaker sales growth are the rising burden of patients with hypertension and cardiovascular problems, changing lifestyles, rising government & private spending for the development of improved healthcare infrastructure, and the growing focus of the major players to expand in emerging nations.

What is Supporting the Sales of Cardiac Pacemakers in European Countries?

“Rising Technological Advancements in Cardiac Implants”

The rising sales of cardiac pacemaker devices in the United Kingdom are a result of ongoing technological developments in the field of cardiac implants. The use of cardiac pacemakers is increasing as coronary heart disease, which can cause heart failure, is becoming more common. Developing the next generation of cardiac pacemaker devices is a top priority for major firms and the expansion of the healthcare infrastructure.

Germany holds a healthy position in the Europe pacemakers market. Sales of cardiac pacemakers in Germany are expected to increase at a CAGR of 2.5% during the forecast period.

Demand for these implants and minimally-invasive cardiac devices has increased as a result of the rising prevalence of heart disease and the rising death rate from coronary heart disease and failure.

• For instance, the implantable cardiac monitor from BIOTRONIK was acknowledged as a high-performing, noiseless, high-precision technology in July 2021.

The Germany cardiac pacemakers market is expanding as a result of increasing government initiatives and support.

Category-wise Analysis

Which Technology is Gaining Popularity in This Space?

“Cardiac Resynchronization Therapy Device Pacemakers Widely Preferred”

Based on technology, cardiac pacemakers are classified into single chambers, dual chambers, and biventricular pacemakers/CRT-pacemakers.

A cardiac resynchronization therapy device pacemaker (CRT-P) is a modern kind of pacemaker that offers a few more advantages, such as measuring heart rate and providing a shock at the right time. The CRT-P device's ability to lower the likelihood of heart failure is another one of its main purposes.

Due to its increased advantages and properly diagnosed heart rhythm abnormalities, CRT-P devices are becoming more and more popular.

Furthermore, it is anticipated that government-supported favourable reimbursement policies would increase the uptake of CRT-P devices, leading to the growth of the worldwide cardiac pacemakers market. With a positive trend, cardiac resynchronization therapy has become the treatment of choice in the present day for patients with heart failure who suffer ventricular conduction delays.

Competitive Landscape

Medtronic currently holds a strong share in the cardiac pacemakers market. Due to its broad range of product offerings, the launch of cutting-edge and new products, and strong brand presence, the company is predicted to maintain its top spot over the forecast period.

Together with Boston Scientific Corporation, this company currently accounts for more than half of the revenue generated by cardiac pacemakers worldwide. Other key players in the cardiac pacemakers market are Abbott Laboratories, Inc., Cordis, a Cardinal Health company, Medico SpA, Shree Pacetronix Ltd., Vitatron Holding BV, and ZOLL Medical Corporation.

• In June 2021, India Medtronic Private Limited introduced the Micra AV, a miniature and fully self-contained pacemaker that uses a minimally-invasive procedure to provide patients with atrioventricular (AV) block with cutting-edge pacing technology. The system is the first pacemaker to be able to detect atrial activity without a lead or other device in the heart's upper chamber.
• Boston Scientific Corporation announced in January 2021 that it will buy Preventice Solutions, the creator of remote cardiac monitoring.

Key Segments of Cardiac Pacemakers Industry Research

• By Product :

  • Implantable Pacemaker Devices
  • External Pacemaker Devices

• By Technology :

  • Single Chamber
  • Dual Chamber
  • Biventricular/Cardiac Resynchronization Therapy-Pacemakers (CRT-P)

• By End User :

  • Hospitals & Cardiac Centers
  • Ambulatory Surgical Centers

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA