Analyst Viewpoint
Rise in demand for minimally invasive surgeries and growth in product authorization by regulatory bodies are key factors augmenting the cardiac pacemakers industry size.
Implantation of cardiac pacemakers is a minimally invasive procedure that helps prevent excessive blood loss and rules out the probability of post-operative complications. Speedy approval for technologically advanced pacemakers by regulatory organizations, such as the U.S. FDA, is also boosting cardiac pacemakers market statistics.
Companies operating in the global cardiac pacemakers market are carrying out advancements in pacemaker systems and technologies to help patients better manage abnormal or slow heartbeat. Key players are following the latest cardiac pacemakers industry trends and incorporating next-generation features in modern cardiac pacemakers to increase their industry share.
Cardiac pacemakers, also known as cardiac rhythm management devices, are small electrical devices implanted in the chest. They are used in the treatment of certain abnormal heart rhythms (arrhythmias) that lead the heart to miss beats or beat slowly.
Emerging trends in leadless cardiac pacemaker technology include incorporation of pacemaker programming for optimal heart rate control. Such pacemakers utilize built-in sensors to detect a signal that indicates requirement for a quicker heartbeat.
Therefore, sensor stimulations are calculated in compliance with programmed settings for dynamics of response and permitted alterations of change in the pacing rate.
Technological upgrade in electrodes/leads have cut down upon requirements of energy. Starting with nickel-cadmium rechargeable battery (lasting for less than two years), then zinc-mercury battery (lasting for over two years), and later graduating to lithium iodine battery (lasting for over 10 years), these advancements have facilitated a decrease in the overall price of cardiac pacemakers.
Wireless connectivity and remote management of cardiac pacemakers enable both the physician and patient to access automatic test results and complete diagnostics through remote and flexible scheduling. This is accelerating the demand for electrotherapy cardiac devices.
However, there is a likelihood of the development of a blood clot in one of the veins in the arm at the side of the body where the pacemaker is implanted.
Furthermore, pacemaker wires are inserted close to one of the lungs; therefore, there exists a risk of the lung getting punctured during the pacemaker insertion procedure. These are some of the factors hampering the cardiac pacemakers market growth.
| Attribute | Detail |
|---|---|
| Drivers |
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Minimally invasive surgeries result in minimal interruption to the physiology of the patient, which leads to a shorter recovery time. These surgeries are linked to less pain, shorter hospital stays, and fewer complications.
Robotic technology is adopted to carry out certain minimally invasive surgeries, as it allows precise control over the surgery. Other minimally invasive surgeries are performed without robotic assistance.
Repair of heart valves, atrial fibrillation, and mitral valve prolapse are some of the surgeries carried out with the assistance of robotic techniques.
Adoption of minimally invasive heart surgeries is rising across the globe, as these surgeries offer benefits such as less blood loss, reduced pain, shorter hospital stay, less visible scars, and faster recovery. Insertion of a pacemaker is usually performed in a minimally invasive surgical procedure.
Permanent pacemaker insertion is one of the highly adopted minimally invasive implantation techniques. Thus, long-term benefits of cardiac pacing through minimally invasive procedures are fueling the cardiac pacemakers market value.
The US Food and Drug Administration (FDA) evaluates high-risk medical devices such as cardiac implantable electronic devices (CIEDs), including pacemakers, implantable cardioverter-defibrillators, and cardiac resynchronization therapy devices, via the premarket approval process.
Manufacturers need to submit clinical data demonstrating effectiveness and safety of their products. Any changes to these high-risk devices are carried out via ‘supplements,’ which may not require additional clinical testing.
Rise in approval of cardiac pacemakers by regulatory bodies is one of key factors augmenting the cardiac pacemakers market revenue. These approvals give manufacturers a fair chance to provide artificial heart pacing units to a growing pool of patients.
Cardiac pacemakers that are approved by regulatory bodies such as the U.S. FDA and the European Medicines Agency (EMA) are looked upon as the ones meeting high performance and safety standards.
The U.S. FDA approved more than 10 newly devised cardiac pacemakers in 2023. Among them, Abbott’s AVEIR dual chamber leadless pacemaker system was approved by the U.S. FDA in July 2023. Furthermore, in May 2023, Medtronic’s Micra VR2 and Micra AV2 received approval from the U.S. FDA as the next generation leadless, miniaturized pacemaker.
Such emerging trends in leadless cardiac pacemaker technology have paved the way for the development of the first dual chamber and small-sized leadless pacing system.
| Attribute | Detail |
|---|---|
| Leading Region | North America |
As per the latest cardiac pacemakers market analysis, North America dominated the industry for implantable heart rate controllers in 2022. The region is likely to maintain its dominant position during the forecast period.
According to the American Heart Association’s report published in January 2019, almost 50% of the American population is suffering from a form of heart disease (including high blood pressure), which may require the implantation of heart pacemakers.
Europe is witnessing a significant increase in demand for artificial cardiac stimulators due to growth in incidence of heart failure, heart arrests, asthma, and cardiac arrhythmias in the region. As per the Eurostat, Germany witnessed around 37,200 heart bypasses in 2021.
Asia Pacific is likely to account for key cardiac pacemakers market share during the forecast period, led by the rise in number of patients contracting cardiac disorders in the region.
Companies operating in the global cardiac pacemakers landscape are focusing upon the development of pacing devices that offer remote patient monitoring. For instance, Medtronic’s Bluetooth-enabled heart devices are able to communicate to the patient’s clinic on direct basis through the MyCareHeart mobile app.
Key players are also investing significantly in technology advancements to introduce smaller and smart devices, increase device longevity, and improve functionality of their devices in order to strengthen their position in the global landscape.
Biotronik, Boston Scientific Corporation, Cook, Medico S.p.A., Medtronic, LivaNova PLC, and Abbott are some of the prominent players profiled in the cardiac pacemakers market report based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Size in 2022 | US$ 4.4 Bn |
| Market Forecast (Value) in 2031 | US$ 5.9 Bn |
| Growth Rate (CAGR) | 3.5% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value and Units for Volume |
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available Upon Request |
| Pricing | Available Upon Request |
It was valued at US$ 4.4 Bn in 2022
It is projected to grow at a CAGR of 3.5% from 2023 to 2031
Rise in demand for minimally invasive surgeries and growth in product authorization by regulatory bodies
The internal segment accounted for the largest share in 2022
North America was the dominant region in 2022
Biotronik, Boston Scientific Corporation, Cook, Medico S.p.A, Medtronic, LivaNova PLC, and Abbott
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Cardiac Pacemakers Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Cardiac Pacemakers Market Analysis and Forecast, 2017-2031
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global Cardiac Pacemakers Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Product Type, 2017-2031
6.3.1. Internal
6.3.2. External
6.4. Market Attractiveness Analysis, by Product Type
7. Global Cardiac Pacemakers Market Analysis and Forecast, by Technology
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by Technology, 2017-2031
7.3.1. Dual Chambered
7.3.2. Single Chambered
7.3.3. Biventricular
7.4. Market Attractiveness Analysis, by Technology
8. Global Cardiac Pacemakers Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region, 2017-2031
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Cardiac Pacemakers Market Analysis and Forecast
9.1. Introduction
9.2. Key Findings
9.3. Market Value Forecast, by Product Type, 2017-2031
9.3.1. Internal
9.3.2. External
9.4. Market Value Forecast, by Technology, 2017-2031
9.4.1. Dual Chambered
9.4.2. Single Chambered
9.4.3. Biventricular
9.5. Market Value Forecast, by Country, 2017-2031
9.5.1. U.S.
9.5.2. Canada
9.6. Market Attractiveness Analysis
9.6.1. By Product Type
9.6.2. By Technology
9.6.3. By Country
10. Europe Cardiac Pacemakers Market Analysis and Forecast
10.1. Introduction
10.2. Key Findings
10.3. Market Value Forecast, by Product Type, 2017-2031
10.3.1. Internal
10.3.2. External
10.4. Market Value Forecast, by Technology, 2017-2031
10.4.1. Dual Chambered
10.4.2. Single Chambered
10.4.3. Biventricular
10.5. Market Value Forecast, by Country/Sub-region, 2017-2031
10.5.1. Germany
10.5.2. U.K.
10.5.3. France
10.5.4. Italy
10.5.5. Spain
10.5.6. Rest of Europe
10.6. Market Attractiveness Analysis
10.6.1. By Product Type
10.6.2. By Technology
10.6.3. By Country/Sub-region
11. Asia Pacific Cardiac Pacemakers Market Analysis and Forecast
11.1. Introduction
11.2. Key Findings
11.3. Market Value Forecast, by Product Type, 2017-2031
11.3.1. Internal
11.3.2. External
11.4. Market Value Forecast, by Technology, 2017-2031
11.4.1. Dual Chambered
11.4.2. Single Chambered
11.4.3. Biventricular
11.5. Market Value Forecast, by Country/Sub-region, 2017-2031
11.5.1. China
11.5.2. Japan
11.5.3. India
11.5.4. Australia & New Zealand
11.5.5. Rest of Asia Pacific
11.6. Market Attractiveness Analysis
11.6.1. By Product Type
11.6.2. By Technology
11.6.3. By Country/Sub-region
12. Latin America Cardiac Pacemakers Market Analysis and Forecast
12.1. Introduction
12.2. Key Findings
12.3. Market Value Forecast, by Product Type, 2017-2031
12.3.1. Internal
12.3.2. External
12.4. Market Value Forecast, by Technology, 2017-2031
12.4.1. Dual Chambered
12.4.2. Single Chambered
12.4.3. Biventricular
12.5. Market Value Forecast, by Country/Sub-region, 2017-2031
12.5.1. Brazil
12.5.2. Mexico
12.5.3. Rest of Latin America
12.6. Market Attractiveness Analysis
12.6.1. By Product Type
12.6.2. By Technology
12.6.3. By Country/Sub-region
13. Middle East & Africa Cardiac Pacemakers Market Analysis and Forecast
13.1. Introduction
13.2. Key Findings
13.3. Market Value Forecast, by Product Type, 2017-2031
13.3.1. Internal
13.3.2. External
13.4. Market Value Forecast, by Technology, 2017-2031
13.4.1. Dual Chambered
13.4.2. Single Chambered
13.4.3. Biventricular
13.5. Market Value Forecast, by Country/Sub-region, 2017-2031
13.5.1. GCC Countries
13.5.2. South Africa
13.5.3. Rest of Middle East & Africa
13.6. Market Attractiveness Analysis
13.6.1. By Product Type
13.6.2. By Technology
13.6.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
14.2. Market Share Analysis, by Company (2022)
14.3. Company Profiles
14.3.1. Biotronik
14.3.1.1. Company Overview
14.3.1.2. Product Portfolio
14.3.1.3. SWOT Analysis
14.3.1.4. Financial Overview
14.3.1.5. Strategic Overview
14.3.2. Boston Scientific Corporation
14.3.2.1. Company Overview
14.3.2.2. Product Portfolio
14.3.2.3. SWOT Analysis
14.3.2.4. Financial Overview
14.3.2.5. Strategic Overview
14.3.3. Cook
14.3.3.1. Company Overview
14.3.3.2. Product Portfolio
14.3.3.3. SWOT Analysis
14.3.3.4. Financial Overview
14.3.3.5. Strategic Overview
14.3.4. Medico S.p.A.
14.3.4.1. Company Overview
14.3.4.2. Product Portfolio
14.3.4.3. SWOT Analysis
14.3.4.4. Financial Overview
14.3.4.5. Strategic Overview
14.3.5. Medtronic
14.3.5.1. Company Overview
14.3.5.2. Product Portfolio
14.3.5.3. SWOT Analysis
14.3.5.4. Financial Overview
14.3.5.5. Strategic Overview
14.3.6. LivaNova PLC
14.3.6.1. Company Overview
14.3.6.2. Product Portfolio
14.3.6.3. SWOT Analysis
14.3.6.4. Financial Overview
14.3.6.5. Strategic Overview
14.3.7. Abbott
14.3.7.1. Company Overview
14.3.7.2. Product Portfolio
14.3.7.3. SWOT Analysis
14.3.7.4. Financial Overview
14.3.7.5. Strategic Overview
List of Tables
Table 01: Global Cardiac Pacemakers Market Value (US$ Mn) and Volume (Number of Number of Units) Forecast, by Product Type, 2017-2031
Table 02: Global Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 03: Global Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 04: Global Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Region, 2017-2031
Table 05: North America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Product Type, 2017-2031
Table 06: North America Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 07: North America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 08: North America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Country, 2017-2031
Table 09: Europe Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Product Type, 2017-2031
Table 10: Europe Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 11: Europe Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 12: Europe Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 13: Asia Pacific Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Product Type, 2017-2031
Table 14: Asia Pacific Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 15: Asia Pacific Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 16: Asia Pacific Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 17: Latin America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Product Type, 2017-2031
Table 18: Latin America Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 19: Latin America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 20: Latin America Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
Table 21: Middle East & Africa Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Product Type, 2017-2031
Table 22: Middle East & Africa Cardiac Pacemakers Market Volume (Number of Units) Forecast, by Product Type, 2017-2031
Table 23: Middle East & Africa Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Technology, 2017-2031
Table 24: Middle East & Africa Cardiac Pacemakers Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2031
List of Figures
Figure 01: Global Cardiac Pacemakers Market Size (US$ Mn) and Distribution (%), by Region, 2022-2031
Figure 02: Global Cardiac Pacemakers Market Revenue (US$ Mn), by Product Type, 2022
Figure 03: Global Cardiac Pacemakers Market Value Share, by Product Type, 2022
Figure 04: Global Cardiac Pacemakers Market Revenue (US$ Mn), by Technology, 2022
Figure 05: Global Cardiac Pacemakers Market Value Share, by Technology, 2022
Figure 06: Global Cardiac Pacemakers Market Value Share, by Region, 2022
Figure 07: Global Cardiac Pacemakers Market Value (US$ Mn) Forecast, 2023-2031
Figure 08: Global Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 09: Global Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 10: Global Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 11: Global Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
Figure 12: Global Cardiac Pacemakers Market Value Share Analysis, by Region, 2022-2031
Figure 13: Global Cardiac Pacemakers Market Attractiveness Analysis, by Region, 2023-2031
Figure 14: North America Cardiac Pacemakers Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 15: North America Cardiac Pacemakers Market Attractiveness Analysis, by Country, 2023-2031
Figure 16: North America Cardiac Pacemakers Market Value Share Analysis, by Country, 2022-2031
Figure 17: North America Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 18: North America Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 19: North America Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 20: North America Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
Figure 21: Europe Cardiac Pacemakers Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 22: Europe Cardiac Pacemakers Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 23: Europe Cardiac Pacemakers Market Value Share Analysis, by Country/Sub-region, 2022-2031
Figure 24: Europe Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 25: Europe Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 26: Europe Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 27: Europe Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
Figure 28: Asia Pacific Cardiac Pacemakers Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 29: Asia Pacific Cardiac Pacemakers Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 30: Asia Pacific Cardiac Pacemakers Market Value Share Analysis, by Country/Sub-region, 2022-2031
Figure 31: Asia Pacific Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 32: Asia Pacific Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 33: Asia Pacific Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 34: Asia Pacific Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
Figure 35: Latin America Cardiac Pacemakers Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 36: Latin America Cardiac Pacemakers Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 37: Latin America Cardiac Pacemakers Market Value Share Analysis, by Country/Sub-region, 2022-2031
Figure 38: Latin America Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 39: Latin America Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 40: Latin America Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 41: Latin America Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
Figure 42: Middle East & Africa Cardiac Pacemakers Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017-2031
Figure 43: Middle East & Africa Cardiac Pacemakers Market Attractiveness Analysis, by Country/Sub-region, 2023-2031
Figure 44: Middle East & Africa Cardiac Pacemakers Market Value Share Analysis, by Country/Sub-region, 2022-2031
Figure 45: Middle East & Africa Cardiac Pacemakers Market Value Share Analysis, by Product Type, 2022-2031
Figure 46: Middle East & Africa Cardiac Pacemakers Market Value Share Analysis, by Technology, 2022-2031
Figure 47: Middle East & Africa Cardiac Pacemakers Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 48: Middle East & Africa Cardiac Pacemakers Market Attractiveness Analysis, by Technology, 2023-2031
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Cardiac Pacemakers Market
