Trends & Forecast Report 2027
The global pacemakers market was worth USD 4.4
Billion in 2020 and is
further projected to reach USD 5.4 Billion by 2027, at a CAGR of 3.0 % during
2021-2027 (forecast period). The demand for pacemakers has been increasing due
to increasing incidences of cardiovascular diseases. Other factors
contributing to market growth include increased patient awareness and
technological innovation in pacemakers, such as leadless pacemakers and
MRI-safe pacemakers. Additionally, the increasing demand for pacemakers among
patients with improved and minimally invasive procedures is
also driving the market growth.
Source: BlueWeave Consulting
Global Pacemakers Market Overview:
A pacemaker is an electrical device generally
used when the heartbeat runs too fast, too slowly, or with an uneven rhythm. People
suffering from arrhythmias can function normally with the assistance of a
pacemaker. Pacemakers are the preferred choice of treatment for cardiovascular
diseases due to their non-invasive nature. Pacemakers are medical
devices that are implanted to help regulate the pulse. They can be
temporarily inserted to treat weak or irregular heartbeat following a
heart attack, surgery, or drug overdose. The primary factors expected to drive
growth in the global pacemakers market include advancements in pacemakers,
especially in the materials and technologies used in cardiac pacemakers, as
well as increased government initiatives to promote awareness about
cardiovascular diseases and treatments. However, high treatment costs are a
major factor impeding the development of the global pacemakers industry.
heart and cardiovascular diseases
Certain heart conditions, as well as aging,
affect the rate of the heartbeat. Such damage can result in
slower heartbeats or long pauses between heartbeats. Usually, pacemakers are used to record the
heart's electrical activity and heart rhythm. Some new technologically advanced
pacemakers are also capable of monitoring blood temperature, breathing rate,
and other vital signs, thereby adjusting a patient’s heart rate in response to
changes in their movement.
Temporary pacemakers and a permanent
pacemaker are the two forms of pacemakers. Temporary pacemakers are meant for
short-term use during a hospital stay to manage temporary heart rate disorders,
such as a slow pulse triggered by heart surgery, heart attack, or a drug
overdose. On the other hand, permanent
pacemakers are used to monitor long-term heartbeat complications,
Because of technological advances in
implantable cardiac pacemakers, new product releases by industry players are
expected to fuel market growth. High-density
batteries, low-power electronics, and revolutionary software designs have all
become game-changers in the field of cardiac pacemakers in recent years. The
global pacemaker industry is benefiting from such improvements.
Furthermore, several government agencies and
private companies are raising awareness about cardiovascular diseases,
thereby propelling the industry forward significantly. MRI is also being
offered to patients with cardiac pacemakers at several medical centers. As a
result of these trends, MRI-compatible pacemakers are expected to see
substantial market growth in the coming years.
cost and lack of experienced professionals
The high treatment costs are a major
stumbling block to the global pacemakers market's growth. Furthermore, product
recalls due to erroneous functioning and other challenges are expected to
thwart the global pacemakers market's growth over the forecast period. Pacemaker
implantation is normally performed under local anesthesia for a number of reasons,
including the patient's medical condition, which could require a longer
hospital stay. As a result, the overall cost of the pacemaker implantation procedure
rises significantly. Additionally, a shortage of trained medical professionals,
as well as many risks associated with pacemakers, such as the possibility of
bleeding and infection, are limiting market development.
of COVID-19 in the industry
The novel coronavirus had a severe impact on
patients with cardiovascular disease. The spread of COVID-19 has had a huge
economic effect on the medical device industries, including pacemakers.
Pacemakers are used to treat medical problems
like arrhythmia, heart block, and Long QT syndrome. The
increasing prevalence of arrhythmia and the lack of specific therapy for
controlling cardiac rhythm contributed to the growing need for
pacemaker devices throughout the pandemic. The resource allocation and priority
setting policies, such as the conversion of many hospitals into COVID-only
facilities, have led to the postponement of elective cardiac procedures,
which has had a negative effect on the pacemaker device industry.
Market: By Type
Based on service, the pacemakers market is
divided into Implantable, and External. The implantable type accounted for the
largest market share in 2020 and is predicted to dominate the market during the
forecast period as well. The pacemaker
and leads are implanted through an incision in the chest. The lead(s) are threaded
through the incision and into a vein before being directed to the heart using a
fluoroscopy device. The high market share of implantable pacemakers can
be attributed to the growing demand for cardiac pacemaker implantation,
which has improved the quality of life for many patients around the world.
Furthermore, the presence of multiple leads that enable physiological
functioning of the heart is usually also funding for market development.
Based on Application, the pacemakers market
is divided into Arrhythmias, Congestive Heart Failure, and others. Among all
these segments, Arrhythmias accounted for the largest share in 2020 and is
likely to maintain its dominance even during the forecast period. The heart
normally beats too fast, too slow, or in an erratic rhythm during an
arrhythmia. In this medical condition, the heart does not normally pump enough
blood to the rest of the body, resulting in exhaustion and fainting. Pacemakers
are electronic devices that are used when the heartbeat is too fast, too slow,
or has an irregular rhythm. Therefore, people suffering from arrhythmias can
lead to everyday life with the help of a pacemaker.
Based on end-users, the global pacemaker
market is segmented into hospitals, ambulatory surgical centers and others. Because
of the higher rate of implants in the hospital segment, the hospital segment is
projected to account for the largest share of the cardiac pacemaker market over
the forecast period. Furthermore, the reimbursement rates provided by hospitals
are higher than those provided by ambulatory surgical centers. Additionally, to
get a pacemaker, one needs to stay in the hospital for a few hours or
overnight. Therefore, hospital admitting facilities and the availability of 24-hour
medical staff influence the growth of the hospital segment.
Based on region, the pacemakers market is
divided into North America, Latin America, Europe, Asia Pacific, Middle East,
and Africa. Among all the regions, North America holds the largest market share
owing to the rising occurrence of heart diseases and technological advancements
in the region. Additionally, the Asia Pacific is also likely to witness the
highest growth during the forecast period, followed by Europe. China and India
are expected to be the fastest-growing pacemaker markets in the APAC region. A
large pool of patients, increasing government support, and improving healthcare
facilities are some of the major motivators of the pacemakers market in
Developments in Global Pacemakers
In April 2021, BIOTRONIK unveiled the newest
suite of tools for the more specialized implanting procedures in the His-bundle
cardiac conduction system. They introduced new conduction system pacing tools
for added flexibility during implantation.
In October 2020, Medtronic Private Limited, a
wholly-owned subsidiary of Medtronic plc (an American-Irish registered medical
device company), announced the introduction of the AzureTM pacemaker with
BlueSyncTM technology, making it India's first and only pacemaker capable of
interacting directly with patients' smartphones and tablets.
Key players in the global pacemakers market are
Medtronic, BIOTRONIK, Inc., Boston Scientific Corporation, St.Jude Medical, ZOLL
Medical Corporation, MEDICO S.p.A., Vitatron, Pacetronix, Cordis, Inc., and
other key manufacturers.
With extensive infrastructure, marketing
plans, distribution networks, and R&D provision, important international
players are likely to grow their footprint in the market. Thus, small and
developing vendors find it progressively difficult to race with them in
innovation, brand image, technology, and value.
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain,
Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South
Africa, Saudi Arabia
By Type, By Application, By
End Users, By Region
Key players for global pacemakers market are Medtronic,BIOTRONIK
Inc.,Boston Scientific Corporation,St. Jude Medical,ZOLL Medical
Corporation,MEDICO S.p.A.,Vitatron,Pacetronix and Cordis, Inc. and other key
Congestive Heart Failure
1. What is the current size of the global pacemakers
Global pacemakers market has reached USD 4.4 Billion
2. What are the major factors driving the
growth of the global pacemakers market?
Answer: Increasing heart and other cardiovascular
diseases. Increasing awareness among patients and the technological advancement
pacemakers such as leadless pacemakers and MRI safe pacemakers are the primary
factors contributing to the market growth.
3. Who are the key players in the global
The key players in the global pacemakers are Medtronic, BIOTRONIK Inc., Boston
Scientific Corporation, St. Jude Medical, ZOLL Medical Corporation, MEDICOS.p.A.,
Vitatron, Pacetronix and Cordis, Inc., and other key manufacturers and other
4. Which application segment accounted
for the largest share in the global pacemakers market?
Arrhythmias segment, by service, accounted for the largest share in the global pacemakers
5. Which end-user segment accounted for
the largest share in global pacemakers market?
The hospital segment is growing at a higher rate in the global pacemakers