Cardiac pacemakers are medical devices that help maintain regular heartbeats by delivering small electrical impulses to the heart. They are implanted in patients suffering from arrhythmias, a condition where the heart beats faster, slower or in an irregular manner. Growing occurrence of cardiovascular diseases like heart block, arrhythmia and congestive heart failure have raised the demand for effective treatment options like cardiac pacemakers. They help improve quality of life by preventing fainting/blackouts and reducing fatigue or shortness of breath. The devices can be implanted permanently or temporarily depending on the cardiac condition. Technological innovations have led to development of smaller, more reliable pacemakers that last longer on a single battery charge.
Global cardiac pacemaker market is estimated to be valued at USD 4,907.2 Mn in 2024 and is expected to reach USD 6,838.6 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key Takeaways
Key players operating in the Cardiac Pacemaker Market are Medtronic, Boston Scientific Corporation, Abbott, BIOTRONIK SE & Co. KG, Pacetronix , Lepu Medical Technology(Beijing)Co., Ltd., LIVANOVA PLC, OSCOR Inc., MEDICO S.R.L., MicroPort Scientific Corporation, OSYPKA MEDICAL, Vitatron Holding B.V.
- Rising prevalence of cardiovascular diseases and growing geriatric population susceptible to arrhythmias are major factors driving the Cardiac Pacemaker Market Demand globally. As per estimates, over 29 million people suffer from arrhythmias annually worldwide.
- Technological advancements have led to development of device miniaturization, longer battery life and MRI compatibility. Implantable loop recorders and leadless pacemakers represent some of the latest technologies offering greater patient comfort.
Market Trends
- The market is witnessing increased adoption of bioabsorbable pacemakers that dissolve safely in the body after serving their intended function for a specified period. This eliminates need for additional surgical procedures for device removal.
- Multi-site and multichamber pacing are emerging trends allowing physicians to customize pacing therapy based on individual cardiac conditions for better outcomes. These technologies can help reduce rates of heart failure and strokes in the long run.
Market Opportunities
- Growing demand in developing countries due to escalating disease burden and expanding medical infrastructure presents lucrative opportunities for players. Asia Pacific is projected to exhibit fastest growth during the forecast period.
- Integration of remote monitoring technologies allows automated transmission of pacemaker data to physicians, thereby improving patient care. This offers opportunities to optimize pacing therapy in real time.
- Development of customized pacing solutions for pediatric patients could open new avenues as current devices may not suit their anatomy and physiology.
Impact of COVID-19 on Cardiac Pacemaker Market
The COVID-19 pandemic has significantly impacted the growth of the cardiac pacemaker market globally. During the initial lockdown phases imposed by various governments, elective surgeries like pacemaker implantation procedures were postponed to avoid the spread of the virus. This resulted in a decline in the demand for pacemakers. However, replacement procedures of existing devices continued for high-risk patients. With rising COVID-19 cases overwhelming healthcare systems, hospitals focused their resources on treating coronavirus patients leading to further delays in non-essential surgeries and decline in pacemaker replacements.
As lockdowns eased and hospitals resumed regular operations while following strict safety protocols, pacemaker implantation and replacement procedures have picked up pace. However, market growth is yet to return to the pre-COVID levels. The pandemic has made patients reluctant to visit hospitals for non-emergency procedures due to fear of virus exposure. It has also disrupted global supply chains affecting raw material supply and pacemaker production. Companies are now focusing on establishing local production capabilities and strengthening online sales channels to overcome logistical challenges. With vaccination drives in progress, the market is expected to bounce back gradually as fears related to COVID-19 recede.
In terms of geographical regions, North America accounts for the highest value share in the cardiac pacemaker market led by the US. This can be attributed to rising prevalence of cardiovascular diseases, growing elderly population susceptible to arrhythmias, availability of advanced healthcare infrastructure and reimbursement coverage for pacemaker procedures. Asia Pacific is anticipated to be the fastest growing region in the cardiac pacemaker market owing to increasing investments by device manufacturers, rising healthcare awareness levels and improved access to care in developing countries. India, China and Japan represent major opportunities due to their huge patient pools and growing medical tourism.
Europe holds the second largest value share in the global cardiac pacemaker market majorly driven by developed markets like Germany, UK and France. However, growth rates are comparatively lower than developing regions. Rising adoption of technologically advanced pacemakers integrated with diagnostic features and tools for remote monitoring is expected to boost sales in North American and European markets going forward.
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