Pacemaker Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Pacemaker market size is expected to be worth around US$ 7.8  billion by 2030, according to a new report by Vision Research Reports.

The global Pacemaker market size was valued at US$ 6.5 billion in 2020 and is anticipated to grow at a CAGR of 6.9% during forecast period 2021 to 2030.

Growth Factors

The increasing prevalence of cardiovascular diseases is a key growth driver for the market. As per the CDC, in 2017, CVDs accounted for about 800,000 deaths in the U.S alone. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure.

As per the British Heart Foundation Centre in 2018, nearly 7.4 million individuals are living with circulatory and heart diseases in the UK. More than 43,000 individual under 75 years of age dies due to cardiac diseases every year in the UK. To curb the rising prevalence of CVDs is government bodies and key market players are channelizing revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.

As per the CDC, 2020, more than 15.0% of U.S. adults are physically inactive that shows the prevalence of adult physical inactivity. Technological developments are quickly renovating the market. Key players are focusing on expanding their current portfolio such as in January 2020, BIOTRONIK launched an injectable cardiac monitor, BIOMONITOR III in Japan. It is intended to measure irregular heart rhythms with increased clarity. The injectable cardiac monitor also documents the unexplained syncope. Moreover, in January 2019, Medtronic launched MyCareLink Heart (TM)-a mobile app for communicating directly with patients via smartphones.

Report Highlights

In terms of revenue, the implantable pacemakers segment dominated the market with around 62.8% share in 2019. Implantable pacemakers are further divided into a single chamber, dual-chamber, and biventricular pacemakers. Increasing the adoption of these devices for the treatment of heart failure and arrhythmias as well as ongoing clinical trials is a major factor leading to market growth. In 2017 atrial fibrillation was the most common form of , affecting approximately 2.7 to 6.1 million people in the U.S alone as per the CDC. Thus, market growth is driven by an increasing prevalence of CVDs.

The external pacemaker depicts promising growth during the forecast period owing to the enhanced user interface, easy configuration, and improved low battery indicator. As the external pacemakers are noninvasive, there is a low risk of postsurgical complications. Furthermore, the devices are useful for patients to track and record daily heart functions.

In terms of revenue, conventional pacemakers dominated the market and accounted for 51.7% share in 2019. Continuous upgradations, affordability, small-sized, and elongated shelf life are factors driving the segment growth. The MRI compatible pacemaker segment is expected to show lucrative growth during the forecast period. The high share is attributable to increased MRI based diagnosis. As per the Mayo Foundation for Medical Education and Research, in 2018, approximately 75.0% of patients having an implantable pacemaker will need MRI during their lifetimes. Hence, the segment is witnessing high growth.

Arrhythmias held the largest revenue share of 37.9% in the pacemaker market in 2019. The segment is further divided into atrial fibrillation, heart block, and long QT syndrome. Factors such as lifestyle disorders, excessive alcohol consumption, smoking, and obesity are contributing to the prevalence of cardiac arrhythmia. As per the European Medical Group LTD, in 2019, the total prevalence of people with atrial fibrillation and atrial flutter is 12,32,144 in the U.K.

Congestive heart failure is expected to be the second-fastest-growing segment during the forecast period. As per the CDC, in December 2019, nearly 6.5 million adults in the U.S. suffer from heart failure. Thus, increasing the incidence of heart failures is likely to fuel the demand for technologically advanced pacemakers during the forecast period.

The hospitals and cardiac centers segment dominated and accounted for a revenue share of 61.1% in 2019. Hospitals and cardiac centers offer superior care to their patients and provide reimbursements during surgeries, thus witnessing incredible growth. The American Heart Association stated that the number of in-patients due to cardiac arrest is expected to rise nearly by 23.6 million by 2030.

The ambulatory surgical center segment is expected to show promising growth during the forecast period owing to its advanced market reach especially to rural parts and ease of treatment. Also, ambulatory surgical centers have proven to be a competent solution in this scenario. Furthermore, the rising demand to curb the surgical and post-surgical expenditure and increasing prevalence of CVD is expected to be some of the high-impact rendering drivers for the ambulatory surgical center segment.

North America dominated the market and accounted for a revenue share of 42.6% in 2019. The growth can be attributed to the presence of key players, increasing the elderly population with cardiac problems, rapid technological advancements such as MRI compatible pacemakers and Bluetooth enabled pacemakers, and improving regulatory approvals. Rising incidences of cardiac disorders such as congestive heart failure, arrhythmias, and cardiac arrests are further propelling market growth in the region.

In Asia Pacific, the market is likely to exhibit lucrative growth over the estimated period. Market penetration by the key players and massive untapped opportunities are driving the growth. Furthermore, investments in the healthcare sector, especially in Japan, India, and China have gained traction. Countries are progressively focusing on developing robust healthcare facilities for cardiac diagnosis and treatment. Such factors are expected to lead to market growth in the region in the coming years.

Key Players

  • Boston Scientific Corporation

  • Zoll Medical Corporation

  • Medtronic

  • BIOTRONIK

  • MicroPort Scientific Corporation

  • Cook Medical

  • MEDICO SpA

  • Pacetronix

  • Oscor Inc.

  • Osypka Medical GmbH

Market Segmentation

  • Application Outlook 

    • Arrhythmias

      • Atrial Fibrillation

      • Heart Block

      • Long QT Syndrome

    • Congestive Heart Failure

    • Others

  • Type Outlook 

    • MRI Compatible Pacemakers

    • Conventional Pacemakers

  • Product Outlook

    • Implantable pacemakers

      • Single Chamber

      • Dual Chamber

      • Biventricular Chamber

    • External pacemakers

  • End-use Outlook

    • Hospitals & Cardiac Centers

    • Ambulatory Surgical Centers

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Pacemaker market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Pacemaker market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Pacemaker market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pacemaker market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pacemaker market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Pacemaker capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Pacemaker by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Pacemaker market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Pacemaker market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Pacemaker market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Pacemaker industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Pacemaker market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pacemaker market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Pacemaker market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Pacemaker market. These factors have benefited the growth of the global market for Pacemaker. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Pacemaker. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Pacemaker are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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