Pacemaker Market Size Worth $5.8 Billion By 2027 | CAGR: 2.9%

August 2020 | Report Format: Electronic (PDF)

Pacemaker Market Growth & Trends

The global pacemaker market size is anticipated to reach USD 5.8 billion by 2027, expanding at a CAGR of 2.9%, as per the new report by Grand View Research, Inc. The increasing prevalence of cardiovascular diseases is a key growth driver for the market. As per the CDC, in 2017, CVDs accounted for about 800,000 deaths in the U.S alone. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure.

As per the British Heart Foundation Centre in 2018, nearly 7.4 million individuals are living with circulatory and heart diseases in the UK. More than 43,000 individual under 75 years of age dies due to cardiac diseases every year in the UK. To curb the rising prevalence of CVDs is government bodies and key market players are channelizing revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.

As per the CDC, 2020, more than 15.0% of U.S. adults are physically inactive that shows the prevalence of adult physical inactivity. Technological developments are quickly renovating the market. Key players are focusing on expanding their current portfolio such as in January 2020, BIOTRONIK launched an injectable cardiac monitor, BIOMONITOR III in Japan. It is intended to measure irregular heart rhythms with increased clarity. The injectable cardiac monitor also documents the unexplained syncope. Moreover, in January 2019, Medtronic launched MyCareLink Heart (TM)-a mobile app for communicating directly with patients via smartphones.


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Pacemaker Market Report Highlights

  • MRI compatible pacemakers is the fastest-growing segment from 2020 to 2027 owing toa higher patient preference rate as 75% of the patients with pacemakers are likely to get MRI during their lifetimes

  • Atrial Fibrillation held the largest market share in 2019 owing to the heightened prevalence of growing with age. As per the National Center for Biotechnology Information, 2020, nearly 6 to 12 million people globally are expected to suffer from atrial fibrillation in the US alone by 2050

  • The biventricular chamber product segment is expected to be the fastest-growing segment from 2020 to 2027. The device is also is known as Cardiac Resynchronization Therapy (CRT) device. An increase in the prevalence of heart failure is one of the major factors driving the growth of the segment

  • Key companies are adopting new strategies to attain a competitive edge. Product development, collaborations, partnerships, mergers and acquisitions, and regional expansion are few of them.

Pacemaker Market Segmentation

Grand View Research has segmented the global pacemaker market on the basis of the product, type, application, end-use, and region.

Pacemaker Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Implantable

    • Single Chamber

    • Dual Chamber

    • Biventricular Chamber

  • External

Pacemaker Type Outlook (Revenue, USD Million, 2016 - 2027)

  • MRI Compatible

  • Conventional

Pacemaker Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Arrhythmias

    • Atrial Fibrillation

    • Heart Block

    • Long QT Syndrome

  • Congestive Heart Failure

  • Others

Pacemaker End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals & Cardiac Centers

  • Ambulatory Surgical Centers

  • Others

Pacemaker Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

List of Key Players of Pacemaker Market

  • Boston Scientific Corporation

  • Zoll Medical Corporation

  • Medtronic

  • BIOTRONIK

  • MicroPort Scientific Corporation

  • Cook Medical

  • MEDICO SpA

  • Pacetronix

  • Oscor Inc.

  • Osypka Medical GmbH

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