According to FutureWise analysis the market for pacemaker device in 2023 is US$ 4.68 billion, and is expected to reach US$ 6.32 billion by 2031 at a CAGR of 3.80%.
A pacemaker monitors and regulates the heartbeat of patients through an implantable electronic device. Using small electric currents, it stimulates the body. Depending on the heart's needs, pacemakers can last for a short period of time or a long time. Pacemakers are also used to monitor the heartbeat and provide physiologic information. Patients with bradycardia, or a slow heart beat rate, will usually have pacemakers fitted. The pacemaker sends an electrical signal to the heart, increasing the pump rate when the heartbeat is too slow. There are three types of pacemakers: single, dual, and biventricular. In terms of arrhythmias, bradycardia and tachycardia are the two most common types. Bradycardia is when the heartbeat beats too fast. Tachycardia is when it beats too slowly. An arrhythmia is when the heart stops pumping enough blood to other parts of the body. This can cause fatigue and fainting. With no signs of coronary heart disease, the prevalence of arrhythmias atrial or ventricular increases with age. Pacemakers allow patients with arrhythmias to live a healthy and active lifestyle. There are two types: the implantable cardiac pacemaker and the external cardiac pacemaker. The implantable pacemaker is placed under the skin of the left chest. It is connected via leads that are guided through a blood vessel to connect to the heart. External cardiac pacemakers can be used temporarily and require a fully furnished clinical facility. Implantable pacemakers are more popular than external pacemakers. According to the patient's medical condition, doctors recommend either a single-chamber or dual-chamber pacemaker. Market growth in cardiac pacemakers is driven by the increasing incidence of atrial fibrillation (AFib), the most common type. The market is driven by rising incidences of Cardiovascular Diseases, increasing cost of managing cardiac disease, favorable government policies and the introduction technologically advanced pacemakers like leadless pacemakers or MRI safe pacemakers. Market growth is largely due to the rising incidence of CVDs. Global Cardiac Pacemaker Market Report provides an in-depth analysis of the market.
The market leaders in cardiac rhythm management devices have been focused on innovation and have invested more in R D to create enhanced pacemakers that offer better healthcare. The three-years have seen notable improvements in the innovative pacemaker devices, including miniaturization, complete magnet resonance imaging (MRI), compatibility, exceptional longevity with extended battery life, wireless remote monitoring and leadless pacemakers. Many leading players recently launch the MRI-conditional/compatible pacemakers by redesigning the components of pacemakers to minimize heating potential, dislodgement, current induction, and electromagnetic interference. The pacemaker market will grow due to the rising prevalence of cardiovascular disease among the millennials and the aging population. The pacemaker market has seen a significant increase in demand due to increasing cardiovascular disease prevalence.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Pacemaker Device Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Pacemaker Device Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.