Cardiac Pacemakers Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

Published Date : Jun 2020 | No. of Pages : 200 Pages | Category :

According to Vision Research Reports, the global cardiac Pacemakers market was valued at US$ 9,614.0 Mn in 2019 and is anticipated to expand at a CAGR of 7.9% from 2020 to 2027. The global cardiac Pacemakers market is expected to reach of around US$ 18,633.9 million by 2027. Rising prevalence of disorders such as hypertension, diabetes and obesity to Drive Market.

The report provides revenue of the global cardiac pacemakers market for the period 2016–2027, considering 2019 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global cardiac pacemakers market during the forecast period.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global cardiac pacemakers market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global cardiac pacemakers market.

The report delves into the competitive landscape of the global cardiac pacemakers market. Key players operating in the global cardiac pacemakers market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global cardiac pacemakers market that have been profiled in this report.

Overview

  • Cardiac pacemaker is a tool for the control of cardiac rhythm which controls heart rhythm by transmitting electrical impulses to the heart. It is composed of two components: generator and lead.
  • The cardiac pacemaker market is witnessing substantial growth due to a steady rise in the geriatric population and an increase in cardiovascular disease incidence
  • Growing awareness in countries in Asia is likely to boost demand for cardiac pacemakers in the region. However, rising cost of treatment and strict regulatory process could restrict market growth in the near future.
  • On the other hand, large potential patient base in countries in Asia Pacific is likely to create an opportunity for cardiac pacemaker manufacturers to record high growth in revenue and market share during the forecast period.
  • Increasing usage of MEMS-built pacemaker, due to its cheap and less-invasive features is the growing trend in future. Leadless pacemakers, tele-monitoring and MRI-compatible pacemakers are recently technologically advanced pacemaker which records higher patient safety.
  • The cardiac pacemaker is mainly covered by top three manufacturers and their share in the market is expected to increase in future. Industry would be controlled by large-scale manufacturer who would be willing to invest more on Research and Development.
  • North America dominated the global cardiac pacemakers market in 2018 and the trend is anticipated to continue during the forecast period. Extremely structured health care industry, increased prevalence of cardiovascular disorders are expected to drive the market in North America.

Rising prevalence of disorders such as hypertension, diabetes and obesity to Drive Market

  • Diabetes, hypertension, and obesity are the leading causes of cardiovascular disorders, especially stenosis, stroke, atresia and regurgitation. The risk of cardiovascular diseases increases when hypertension coexists with diabetes.
  • The America Heart Association estimates that around 16.0 million Americans were diagnosed with diabetes in 2017, and 65% of this patient population is likely to suffer from cardiovascular diseases.
  • Thus, the prevalence of these disorders is constantly rising due to socio-economic factors such as lifestyle-induced dietary and other habits. The WHO estimated that 35% of adults aged 20 years and above were overweight in 2016; globally, obesity has almost doubled since 2000. Furthermore, the prevalence of hypertension was valued at 1 billion in 2016.
  • Moreover, the WHO indicates that, in 2017, the prevalence of hypertension-induced blood pressure in low and middle income countries was 40%, while it was 35% in high income countries. High and rising prevalence of these disorders would have a significant impact on the market throughout the forecast period.

Internal Segment to Dominate Market

  • Based on product type, the global cardiac pacemakers market has been divided into internal pacemakers and external pacemakers. The internal pacemakers segment dominated the global cardiac pacemakers market in 2018 and the trend is projected to continue during the forecast period. Internal pacemakers are permanent pacemakers that provide electrical stimuli, causing cardiac contraction when myocardial electrical activity is extremely slow or absent
  • Major indications for the usage of permanent pacemaker are sick sinus syndrome, symptomatic sinus bradycardia, and complete atrioventricular block (third-degree block). Sick sinus syndrome is the major cause of permanent implantation in Europe, while atrioventricular blockage is the major cause of cardiac pacemaker implantation in Asia-Pacific.

Dual Chambered Cardiac Pacemakers Technology to be Highly Lucrative Segment

  • In terms of technology, the global cardiac pacemakers market has been classified into dual chambered, single chambered, and biventricular.
  • The dual-chamber pacemakers segment accounted for the largest share of the market in terms of both value and volume due to higher efficiency as compared to single-chamber pacemakers in reducing sick sinus syndrome, atrioventricular block, and the cases of heart failure and stroke.
  • It is also the most recommended pacemaker by cardiologists. Furthermore, high sales and high cost of dual-chamber pacemakers have been attributed to largest market share of the segment.

North America to Dominate Global Market

  • In terms of region, the global cardiac pacemakers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global cardiac pacemakers market in 2018, followed by Europe.
  • North America accounted for major share of the global cardiac pacemakers market in 2018, due high reimbursement scenario, high healthcare expenditure, and increasing price of the technologically advanced products. The hospital charges increased dramatically from 2010 to 2017, i.e., around 45.3% increase from $53,693 to $78,015.
  • The cardiac pacemakers market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines.
  • Moreover, rising investments by government and development of new and innovative pacemakers. In case of implantable pacemakers, for the countries like India the shift is from VVIR to MRI pacemakers. Thus increasing of product price with the advancement of technology, along with the demand would impact on forecasted period

Competitive Landscape

  • The global cardiac pacemakers market is fragmented in terms of number of players. Key players in the global market include BIOTRONIK, Boston Scientific Corporation, Cook, MEDICO S.p.A., Medtronic, LivaNova PLC, Abbott, among others

Key Developments

Key players in the global cardiac Pacemakers market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global cardiac Pacemakers market. A few expansion strategies adopted by players operating in the global cardiac Pacemakers market are:

  • In January 2020, Medtronic received the U.S. FDA approval for Micra™ AV, the world’s smallest pacemaker with atrioventricular (AV) synchrony.
  • January 15, 2019, Medtronic launched MyCareLink Heart(TM) mobile app to support the world's first and only portfolio of pacemakers that can communicate directly with patients' smartphones and tablets.

The report on the global cardiac pacemakers market discussed individual strategies, followed by company profiles of manufacturers of cardiac pacemakers. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global cardiac Pacemakers market.

Segmentation

  • Global Cardiac Pacemakers Market, by Technology
    • Dual  Chambered
    • Single  Chambered
    • Biventricular
  • Global Cardiac Pacemakers Market, by Product Types
    • Internal
    • External
  • Global Cardiac PacemakersMarket, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Key Questions Answered in Global Cardiac Pacemakers Market Report

  • What is the scope of growth of product companies in the global cardiac pacemakers market?
  • What will be the Y-o-Y growth of the global cardiac pacemakers market between 2020 and 2027?
  • What is the influence of changing trends in technologies on the global cardiac pacemakers market?
  • Will North America continue to be the most profitable market for cardiac pacemakers providers?
  • Which factors are anticipated to hamper the growth of the global cardiac pacemakers market during the forecast period?
  • Which are the leading companies in the global cardiac pacemakers market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global cardiac pacemakers market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global cardiac pacemakers market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the cardiac pacemakers market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the cardiac pacemakers market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global cardiac pacemakers market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global cardiac pacemakers market more reliably and accurately.


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