Global Pacemaker Market, By Type (Implantable v/s External), By Technology (Dual Chamber, Single Chamber, Biventricular Chamber), By Product Type (MRI Compatible v/s Conventional), By Applications (Arrythmias, Congestive Heart Failure, Others), By End User (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers), By Region, Competition, Forecast & Opportunities, 2017-2027
The global pacemaker market is expected to grow at a steady CAGR of 6.06% in the forecast period to reach a value of USD7139.00 million by 2027. The primary factors attributing to the market growth are supportive government policies and the increased prevalence of cardiovascular diseases among the people. Also, the rise in the healthcare expenditure by the private and public players for the launch of technologically advanced pacemakers in the market is expected to create lucrative growth opportunities for the global pacemaker market in the next five years.
Consumers have started to opt for minimally invasive procedures as they are less costly and are more effective than traditional procedures. The increased funding from the public and private organizations for the development of the healthcare sector and research and development activities is improving the quality of care provided by the pacemakers. Also, the leading authorities are providing insurance coverage and reimbursement facilities to increase the accessibility of healthcare facilities to a wider audience. However, the high cost of pacemakers and the risk of infection from using pacemakers may restrain the growth of the global pacemaker market over the forecast period.
The global pacemaker market is segmented based on type, technology, product type, application, end user, regional distribution, and competitive landscape. Based on the end user, the market can be segmented into hospitals, ambulatory surgery centers, and others. Hospitals dominated the market in 2021 and held 55.30% of the overall market share. The segment is expected to maintain its dominance through the next five years. Patients prefer to visit hospitals for their treatment as they have specialized departments and skilled healthcare professionals, and all the services can be availed under a single roof. Also, hospitals have high budgets and can provide better care to their patients while they are admitted to the hospital facilities, which is one of the major reasons for their high demand globally.
Some of the major players operating in the global pacemaker market are Medtronic, Boston Scientific Corporation, Biotronik, Sorin Group, Lepu Medical Technology, Abbott Laboratories, Edwards Lifesciences Corporation, St. Jude Medical, B. Braun Melsungen AG, Shree Pacetronix, Osypka Medical GmbH, Medico S.P.A., Oscor Inc, Johnson & Johnson, Baxter, Philips Healthcare, Cardinal Health, Becton Dickinson and Company, Siemens Healthineers, Vitatron, and others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze the historical growth in the market size of the global pacemaker market from 2017 to 2021.
- To estimate and forecast the market size of the global pacemaker market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the global pacemaker based on type, technology, product type, application, end user, regional distribution, and competitive landscape.
- To identify drivers and challenges for the global pacemaker market.
- To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in the global pacemaker market.
- To conduct pricing analysis for the global pacemaker market.
- To identify and analyze the profile of leading players operating in global pacemaker market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading pacemaker manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the pacemaker manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the pacemaker manufacturers, distribution channels and presence of all major players operating in the global pacemaker market.
TechSci Research calculated the global pacemaker market size using a bottom-up approach, where data for various regions was recorded and forecasted for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Pacemaker manufacturers/ suppliers/ distributors
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to pacemaker
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as pacemaker manufacturers, suppliers, distributors, and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, global pacemaker market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Pacemaker Market, By Type:
- Pacemaker Market, By Technology:
- Dual Chamber
- Single Chamber
- Biventricular Chamber
- Pacemaker Market, By Product Type:
- MRI Compatible
- Pacemaker Market, By Application:
- Congestive Heart Failure
- Pacemaker Market, By End User:
- Cardiac care Centers
- Ambulatory Surgical Centers
- Pacemaker Market, By Region
- North America
- United States
- Europe & CIS
- United Kingdom
- South Korea
- South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Detailed analysis of the major companies presents in global pacemaker market.
- Detailed analysis and profiling of additional market players (up to five).
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