Report Overview

The rising prevalence of cardiovascular diseases, growing geriatric population more prone to heart illnesses, increasing life expectancy, and the government’s supportive and reimbursement policies are expected to drive the India Pacemaker Market during the forecast period between 2024 and 2030.

India Pacemaker Market – Industry Trends & Forecast Report, 2030

The India Pacemaker Market size was estimated at USD 386.19 million in 2023. During the forecast period between 2024 and 2030, the India Pacemaker Market size is projected to grow at a CAGR of 8.15% reaching a value of USD 589.23 million by 2030. Prominent drivers of the market are the increasing elderly population grappling with cardiovascular disorders, coupled with the availability of advanced pacemaker technologies tailored for efficient patient monitoring. Pacemakers, intricate electric devices engineered to regulate heartbeats by delivering precise electrical impulses in response to irregularities, are witnessing a surge in demand, fueled by prevalent lifestyle factors like poor dietary habits, sedentary lifestyles, and inadequate physical activity, all contributing to the uptick in cardiovascular conditions. Also, the frequent incidence of arrhythmia among the populace acts as a significant impetus for the country's pacemaker market. Hospitals and healthcare facilities emerge as key players in this landscape, catering to a substantial portion of cardiac-related ailments and striving to provide comprehensive care and support to their patients. 

Pacemaker – Overview

A pacemaker, a miniature electronic device, regulates heart rhythm by emitting electrical signals. Cardiologists surgically implant it beneath the patient's chest to manage a range of conditions. In India, cardiovascular diseases (CVDs) are widespread, impacting numerous individuals annually. The surge in CVD cases is attributed to various factors such as varied dietary practices nationwide, an aging populace, air pollution, elevated blood pressure, and a rising incidence of smoking.

India Pacemaker Market

Growth Drivers

Rising Prevalence of Cardiovascular Diseases

In India, Cardiovascular Diseases (CVDs) such as Ischemic heart disease and stroke are leading causes of mortality, with 17.7 million deaths recorded, as per NCBI reports. Regional variations in disease incidence are observed, with states like Kerala, Punjab, and Tamil Nadu showing higher rates. Established risk factors including hypertension, diabetes, smoking, and obesity contribute significantly to the escalating prevalence of CVDs across the country.

Growing Geriatric Population

The geriatric demographic in India is witnessing a surge in cardiac ailments, particularly arrhythmia, due to age-related changes in impulse conduction. With approximately 70–80% of pacemakers implanted in individuals aged 65 and above, there's a notable demand for these devices. Research suggests that pacemakers maintaining atrioventricular synchrony offer advantages for the elderly, given age-related hemodynamic alterations such as reduced ventricular compliance and altered ventricular filling dynamics.

Challenges

High Cost of Pacemakers and Procedures

The high cost associated with pacemakers and related procedures acts as a significant constraint on the growth of the India Pacemaker Market. Affordability issues hinder accessibility for a substantial portion of the population, limiting the market's expansion potential. Additionally, the expense of implantation procedures and ongoing maintenance further exacerbates the affordability challenge for patients. Addressing these cost barriers through initiatives such as price regulation, subsidy programs, or technological innovations aimed at cost reduction could help alleviate this restraint and foster market growth.

Impact of Escalating Geopolitical Tensions on India Pacemaker Market

Geopolitical tensions can have a multifaceted impact on the India Pacemaker Market. Uncertainty and instability may disrupt supply chains, leading to potential shortages of critical components and devices. Additionally, heightened geopolitical risks can undermine investor confidence, deterring foreign investments and hampering market growth. Trade restrictions and tariffs imposed as a result of geopolitical conflicts could escalate manufacturing costs, thereby affecting product affordability and accessibility for patients. Moreover, geopolitical tensions may divert government attention and resources away from healthcare priorities, potentially slowing down regulatory approvals and infrastructure development in the medical device sector.

India Pacemaker Market

Segmental Coverage

India Pacemaker Market – By Product

By product, the India Pacemaker Market is bifurcated into Implantable Pacemakers and External Pacemakers segments. The implantable pacemakers holds a higher share in the India Pacemaker Market by product. The implantable pacemaker is favored for its multiple leads, which help mitigate postoperative complications to some degree. Heart failure and cardiac arrhythmias are widespread among Indians, attributed to factors like sedentary lifestyles, unhealthy diets, and smoking. It's the conventional treatment for bradyarrhythmia. Advances in heart failure management have boosted the adoption of implantable pacemakers, cardioverter defibrillators, and CRTs, offering long-term solutions for chronic cardiac ailments. These devices play a crucial role in addressing the complexities of cardiovascular diseases, providing patients with enduring relief and improved quality of life.

India Pacemaker Market – By Type

Based on type, the India Pacemaker Market is bifurcated into MRI Compatible Pacemakers and Conventional Pacemakers segments. The conventional pacemakers segment holds a higher share in the India Pacemaker Market by type. These pacemakers have been in use for a longer time, building trust among healthcare providers and patients. They are often more affordable compared to newer models, making them accessible to a wider population. Their simple design and functionality contribute to their popularity, especially in regions with less advanced healthcare infrastructure. These factors collectively contribute to the higher market share held by conventional pacemakers in India.

India Pacemaker Market – By Application

Based on application, the India Pacemaker Market is split into Arrhythmias and Congestive Heart Failure segments. The arrhythmias segment holds a higher share in the India Pacemaker Market by application. Arrhythmias, or irregular heartbeats, are prevalent among the Indian population, with conditions such as bradycardia and tachycardia requiring pacemaker intervention for management. Additionally, advancements in medical technology and increased awareness have led to earlier diagnosis and treatment of arrhythmias, driving the demand for pacemakers. Moreover, the aging population in India is prone to cardiac rhythm disturbances, further boosting the market share of pacemakers in the arrhythmias segment. These factors collectively contribute to the segment's prominence in the Indian market.

India Pacemaker Market – By End Use

Based on end use, the India Pacemaker Market is split into Hospitals & Cardiac Centers and Ambulatory Surgical Centers segments. The hospitals & cardiac centers segment holds a higher share in the India Pacemaker Market by end use. Hospitals and cardiac centers serve as the primary facilities for diagnosing and treating cardiovascular ailments, where pacemaker implantation procedures are routinely performed. These institutions have specialized equipment, experienced medical staff, and infrastructure necessary for successful pacemaker surgeries. Additionally, patients with cardiac conditions often prefer seeking treatment in established healthcare facilities, further driving the demand for pacemakers in hospitals and cardiac centers, thus contributing to their higher market share.

India Pacemaker Market – By Region

Geographically, the India Pacemaker Market is divided into North India, South India, East India, and West India regions. India, with a population of more than 1.4 billion, showcases diverse cultures and lifestyles. The surge in cardiovascular diseases stems from factors like high systolic blood pressure, air pollution, and unhealthy habits such as smoking. Surgeries for these ailments have consequently increased. A 2016 survey by the Indian Society of Electro cardiology and Indian Heart Rhythm Society focused on cardiac implantable electronic devices, revealing trends in their usage, including permanent pacemakers, intracardiac defibrillators, and cardiac resynchronization therapy pacemakers. Ischemic heart disease and stroke contribute significantly to mortality rates, with cardiovascular disease cases rising from 25.7 million in 1990 to 54.5 million in 2016. Though efforts like the NPCDCS aim to curb this trend, nationwide implementation remains a challenge. The government's recent initiative, 'Ayushman Bharat,' provides health insurance to 500 million economically vulnerable citizens, aiming to alleviate financial burdens and improve healthcare access.

Competitive Landscape

Major players operating in India Pacemaker Market include Medtronic, Abbott, Biotronik, Boston Scientific, Siemens Healthineers, Skrip Electronics, Octopus Medical Technologies Private Limited, Medived Innovations Pvt Ltd, Scantech Laser Pvt Ltd, and Trivitron Healthcare Pvt Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In February 2024 - FineHeart secured six international patents for its FlowMaker implantable device, addressing advanced heart failure. These patents expand the company's portfolio to 147 across 25 families, covering design, production, and surgical implantation. FlowMaker, akin to a Pacemaker, adapts to patient activity, tracks heart rate variations, and synchronizes with natural heart rhythms.

• In February 2024 - AIIMS Bhopal achieved a milestone by implanting the smallest pacemaker, eliminating chest incisions and external wires. The procedure, performed on a woman with severe infection, marked a first for a government hospital in the region. The medical team successfully replaced the old pacemaker with an intra-cardiac device, providing relief from heart rhythm complications.

Scope of the Report

By Product

• Implantable pacemakers

• External pacemakers

By Type

• MRI Compatible Pacemakers

• Conventional Pacemakers

By Application

• Arrhythmias

• Congestive Heart Failure

By End Use

• Hospitals & Cardiac Centers

• Ambulatory Surgical Centers

By Region

• North India

• South India

• East India

• West India