Pacemakers Market by Implantability (External), Technology (Single Chamber, Dual Chamber, CRT-P/Biventricular Pacemaker), Type (Conventional, MRI Compatible), End User (Hospitals and Cardiac Centers, Ambulatory Surgical Center) - Global Forecast to 2023
“Increasing prevalence of cardiovascular diseases is expected to drive the overall growth of the pacemakers market.”
The pacemakers market is projected to reach USD 4.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 2.0%. The pacemakers market is driven by various factors such by increasing prevalence of cardiovascular diseases and technological advancements in devices. However, the high cost of pacemakers and an unfavorable reimbursement scenario are expected to limit market growth to a certain extent.
“The dual-chamber pacemakers segment is expected to grow at a higher CAGR during the forecast period.”
The dual-chamber pacemakers are the faster-growing segment in the pacemakers market, by technology. The pacemakers market, by technology, has been categorized into single-chamber pacemakers, dual-chamber, and biventricular/CRT pacemakers. Dual-chamber pacemakers are the most popular of all pacemaker technologies in the market, due to the higher efficiency and cost-effectiveness of dual-chamber pacemakers in atrioventricular block or sick sinus syndrome.
“The hospitals & cardiac centers, by end user, is projected to hold the largest market share during the forecast period.”
This segment includes both government and private hospitals and cardiac centers that provide treatment to patients with cardiac diseases. A number of factors, such as the increasing prevalence of cardiovascular diseases and the subsequent increase in the number of surgical procedures performed, improving healthcare infrastructure, and favorable reimbursement scenario are driving the growth of the pacemakers market for hospitals & cardiac centers.
“Asia Pacific is expected to record the highest growth rate during the forecast period.”
The Asia Pacific pacemakers market, particularly in China, Japan, India, is expected to witness high growth in the next five years. This can largely be attributed to the increasing prevalence of CVDs in these countries due to various factors such as increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the pacemakers market.
By Company Type: Tier 1: 45%, Tier 2: 34%, and Tier 3: 21%
By Designation: C-level Executives: 14%, Directors: 10%, and Others: 76%
By Region: North America: 32%, Europe: 35%, APAC: 25%, and RoW: 8%
The pacemakers market comprises major providers such Medtronic (Ireland), Abbott (US), and Boston Scientific (US), BIOTRONIK (Germany), LivaNova (UK), OSCOR (US), Pacetronix (India), MEDICO (Italy), Osypka Medical (Germany), and Lepu Medical (China). The study includes an in-depth competitive analysis of these key players in the pacemakers market, along with their company profiles, recent developments, and key market strategies.
The market study covers the pacemakers market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, on the basis of type, technology, implantability, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market; along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall pacemakers market and its subsegments. This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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