A pacemaker is a small, low-voltage medical device implanted in the chest or abdomen to help manage irregular heartbeats. It monitors how slow or fast heart beats and the pattern in which the heart beats. When the heart beats too slowly, the pacing device provides electrical stimulation. This device helps to reduce symptoms of fatigue and dizziness due to slow heart rhythm. During pacemaker implantation, a thin insulated wire, lead, is placed through the veins and into the heart. The lead’s tip is connected to the heart tissue and the other end is attached to the pacing device. The lead provides electrical pulses from the pacing device to the heart and transmits information from the heart back to the device. Around 4 million people across the globe have pacing device implanted. Some pacemakers are designed to facilitate patients to safely undergo an MRI scan. These are known as MRI ready or MR-conditional pacemakers.
Rise in prevalence of cardiovascular disorders coupled with increasing geriatric population, favorable reimbursement policies, development of technologically advanced pacemakers, and government supportive awareness programs, and growing demand for minimally invasive surgeries are set to drive the demand for the pacemakers. However, limitations of cardiac resynchronization therapy (CRT) pacemaker in pediatrics, risk of potential complications, and dearth of skilled professionals will hamper the market growth.
Atrial fibrillation (AF) is one of the most common types of arrhythmia. An arrhythmia occurs when the heart beats too fast, too slowly, or in an irregular manner. As per Centers for Disease Control and Prevention (CDC), in the U.S., around 2.7 to 6.1 million people have AF. This number is projected to increase due to rapidly aging population. For instance, as per CDC, around 9% of people aged 65 years or above have AF; while about 2% of people below the aged 65 years have AF.
Moreover, increased focus of key players on developing innovative pacemakers to meet the unmet medical needs will further propel the market growth. For instance, in April 2012, Boston Scientific Corporation received CE Mark approval for its INGENIO Family of Pacemakers (including INGENIO and ADVANTIO pacemakers, and INVIVE cardiac resynchronization therapy pacemakers). These advanced devices are designed for the treatment of chronotropic incompetence. Similarly, in February 2017, Abbott obtained FDA approval for magnetic resonance conditional labeling for both the Tendril MRI pacing lead and the Assurity MRI pacemaker. These low voltage devices will enable the patients to undergo full body MRI scans. Such developments representing a significant investment in long-term innovation for pacemakers will contribute to the market growth.
Major players operating in this market are Boston Scientific Corporation, Abbott Laboratories, Medtronic plc, St. Jude Medical, BIOTRONIK, ZOLL Medical Corporation, LivaNova PLC, and Vitatron Holding B.V. Most of these companies collaborate with hospitals, clinicians, and electrophysiologists for developing safe and cost-effective advanced pacing devices.
Pacemakers Market Segmentation:
- External Pacemakers
- Implantable Pacemakers
- Dual Chamber Pacemakers
- Single Chamber Pacemakers
- Biventricular Pacemakers
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
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We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
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Quantitative Data (2017-2025)
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