Global Pacemakers Market Anticipated to Value Over USD 5.4 Billion by 2026 End

  • 19 Aug 2019

The global pacemakers market is predicted to value over USD 5.4 billion by 2026 end and is expected to register a CAGR of over 7% from 2019 to 2026. 
Growing prevalence of cardiovascular diseases and technological advancements are the major factors burgeoning market growth. Favourable reimbursement policies have lessened the financial burden on patients opting for pacemaker implantation, hence fueling the growth of the market. Under the Medicare Plan in the US, eligible professionals get a reimbursement, approximately USD 7,500 out of USD 10,000. Such initiatives are expected to stimulate market growth. Latest technological advancements in the form of microprocessor-controlled devices, transitional tissue welding, and dynamic pacemaker technology are stimulating the market. These techniques are efficient and enhance the artificial pacemakers thus bolstering the pacemakers market growth.
According to the figures released by the World Health Organization, an estimated 17 million people die of CVDs, particularly heart attacks and strokes, every year. Soaring mortality rates linked with cardiac conditions are triggering the pacemakers market growth. 

The market is classified into product and region. Based on the product, the market is segmented into implantable and external. Implantable products are expected to dominate the pacemakers market growth. The presence of various leads in implantable products has allowed the normal physiological functioning of the heart, thus resulting in fewer complications post-operation. Dual-chamber devices are expected to be in huge demand due to inbuilt two leads. 

In terms of regions, North America is the global leader of the market. Increasing per capita healthcare spending, the presence of prominent, favourable reimbursement policies and advanced healthcare infrastructure are the key factors escalating the market in the region. Furthermore, the availability of advanced technology and growing population awareness is triggering the pacemakers market growth in countries like the US and Canada.

Asia-Pacific is anticipated to show exponential growth owing to favourable government initiatives. Implementation of Goods and Services Tax in India has resulted in the reduction of tax rates thus booming the business. China's imposition of the open and well-balanced economy has allowed manufacturers to penetrate and invest heavily in the region.

Prominent players of the market are Boston Scientific Corporation, Medical Corporation, Cordis, Pacetronix, Vitatron, MEDICO S.p.A, ZOLL Medical Corporation, St.Jude Medical, BIOTRONIK, Inc., and Medtronic.

Competitive Landscape: 
●     New product development is bolstering the market. The US FDA approved St.Jude Medical's SyncAV. SyncAV is a CRT software which is compatible with St. Jude Medical's multiPoint pacing technology
●     FDA approved Medtronic's Azure pacemaker which comes with BlueSync technology
●     Medtronic received certification from CE Mark for its upcoming next-generation cardiac resynchronization therapy-pacemakers
 

Global Pacemakers Market Segmentation:
By Product

●    Implantable 
▪      Single Chamber
▪      Dual Chamber
▪      Biventricular
●    External 

By Region
●     North America
●     Europe
●     Asia Pacific
●     Latin America
●     Rest of the World
  

FutureWise Key Takeaways
●  Growth Prospects
●  SWOT Analysis
●  Key Trends
●  Key data-points affecting market growth
 

Objectives of the Study:
• To provide with an exhaustive analysis on the global pacemakers market by product, and by region 
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market 
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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