Cardiac Pacemaker Market Analysis

Global Cardiac Pacemaker Market Overview

Cardiac Pacemaker Market Size was valued at USD 4.51 Billion in 2023. The Global Cardiac Pacemaker industry is projected to grow from USD 4.80 Billion in 2024 to USD 7.27 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.73% during the forecast period (2024 - 2032). The rising incidence of CVD, increasing cost of heart disease management, favorable government policies, and introduction of technologically advanced pacemakers such as MRI-safe pacemakers and leadless pacemakers are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, M.R.F.R. Database and Analyst Review

A cardiac pacemaker is an implantable device that regulates the heartbeat or stimulates the heart's lower chambers by delivering short electrical currents to the heart's muscles. The pacemaker can provide short pacing without mobile removal and is wireless, battery-free, and implanted. Significant participants in the healthcare industry, supportive, informal policies for improved pacemaker technology, and an upsurge in the prevalence of hypertension all contribute to the market's CAGR growth for cardiac pacemakers. It treats hypertrophic cardiomyopathy, congestive cardiac failure, and syncope. Epicardial or endocardial surgery is a procedure used to implant the pacemaker. Additionally, lowering future risks of heart failure is one of the main purposes of the CRT-P device.

The widespread use of CRT-P devices is expanding due to their additional advantages and effective treatment of heart rhythm problems. The patient's chest is sliced open during this procedure, and the pacemaker electrodes are inserted. The market is growing primarily due to increasing CVD cases, rising expenses of managing cardiac illness, encouraging government initiatives, and developing technologically advanced pacemakers, such as leadless and MRI-safe pacemaker devices. The cost of heart disease, which is increasing, is one of the key factors driving the market's expansion. Coronary heart disease is one of the leading causes of CVD mortality globally. One of the key factors influencing market expansion is the increasing prevalence of cardiovascular disorders. Cardiovascular disorders are mostly brought on by coronary heart disease. Pacemakers can be used for a short or very long period, depending on the heart's needs. Also, pacemakers are very important in monitoring and evaluating the patient's heart rate, providing physiologic heart rate, and delivering diagnostic data concerning a heart issue.

The AVEIR DR from Abbott is the initial dual chamber leadless pacing system created specifically for treating people with abnormal or sluggish heart rhythms. The AVEIR DR leadless pacing system, which is around one-tenth the size of a typical pacemaker, comprises two devices: the AVEIR AR single chamber device, which paces the right atrium, and the AVEIR VR single chamber device, which paces the other ventricle. Based on the patient's clinical requirements, Abbott's unique i2i communication technology enables synced or coordinated cardiac pumping among the two leadless pacemakers. Through the naturally conductive blood properties of the body, this device uses high-frequency bursts to send information to each leadless pacemaker.

Abbott, for instance, made history in February 2022 by implanting the first dual-chamber leadless pacemaker in a patient under its significant clinical research project called AVEIR DR i2i. The primary global implantation of Abbott’s innovative Aveir dual-chamber leadless pacemaker in the pivotal study is an important advancement in leadless pacing technology.

In January 2022, Medtronic received approval from Japan's Ministry of Health, Labor, and Welfare to sell and have Micra AV Transcatheter Pacing System (TPS) reimbursed. Dual chamber pacemakers are known as Micra TV.

The Micra AV was launched by India Medtronic Private Limited in June 2021 which is a tiny, entirely self-contained type of pacer involving atrioventricular (AV) block patients attaining new pacing technologies through a minimally invasive approach. It is the first device among pacemakers that can detect atrial activity even if there is no lead or any other device inside the upper chamber of the heart.

In January 2021, Boston Scientific Corporation announced its plans to acquire Preventice Solutions, developers that specialize in remote cardiac monitoring and highlight its strategic expansion intentions into this field.

Early next year Boston Scientific Corporation will acquire Preventice Solutions, a company that develops remote cardiac monitoring systems.

As part of its major clinical research project AVEIR DR i2i, Abbott implanted a dual-chamber leadless pacer into one patient, leading to history in the process. In terms of pacing technology without leads, it is significant that Abbott has completed its pivotal study with the first global implantation of its innovative Aveir dual-chamber leadless pacemaker.

In August 2022, Cornell University tested their newly developed pacemaker on a mini-donkey suffering from severe cardiac disease for efficacy in managing fatal heart conditions. EEG/echocardiography was performed while an ECG was placed on it to record heartbeats; it was quite satisfactory, and within two months or so, the donkey’s condition slowly improved. Next month, FDA approval will be received for this new pacemaker from Cornell University.

Cardiac Pacemaker Market Trends

• Rising senior population boosts the market growth

The rising senior population should drive the market over the estimated time frame. This is due to the way mature humans are powerless against cardiovascular disease. Furthermore, improvements in pacemakers drive the market. For example, in January 2020, clinical device company Medtronic Plc. reported approval of the Micra A.V.A.V., the smallest atrioventricular (A.V.A.V.) synchronized pacemaker. Micra A.V.A.V. is indicated for treating patients experiencing adverse effects of A.V.A.V. blockade. Additionally, a scientist at Northwestern University and George Washington University announced in 2020 the launch of the first transient pacemaker, which disintegrates in the body after use. The pacemaker is remote, battery-free, and fully implantable, providing brief pacing without mobile extraction. Thus, significant players in healthcare services clinical devices, favorable unofficial regulations for advanced pacemaker improvements, and rising incidence of hypertension drive the growth of market CAGR for cardiac pacemaker.

The rising incidence of CVD, rising cost of cardiovascular diseases in executives, desirable government initiatives, and the introduction of mechanically improved pacemakers such as MRI-safe pacemakers and leadless pacemakers are major drivers of surveillance development. The rising weight of cardiovascular diseases is one of the important variables for market development. Coronary heart disease is one of the main causes of cardiovascular diseases. The economic cost of these diseases is projected to exceed $1,044 billion by 2032, including a huge growth in cardiac Pacemaker Market revenue.

Figure 1: Prevalence of CVD in IndiaSource: Secondary Research, Primary Research, M.R.F.R. Database and Analyst Review

Cardiac Pacemaker Market Segment Insights

Cardiac Pacemaker type Insights

The market segments of Cardiac Pacemaker is divided into implantable and external. The implantable pacemaker segment will hold the largest share of more than 62% of the pacemaker market by 2022. Interest in these devices for treating cardiovascular failure and cardiac arrhythmias, along with ongoing pilot clinical studies, are the major considerations driving the market revenue of cardiac pacemaker. Atrial fibrillation was the most widely recognized type of heart rhythm disorder in 2017, affecting an estimated 2.7 to 6.1 Billion people in the U.S. alone, according to the C.D.C. In this way, market development is driven by the increasing dominance of CVD.

Figure 2:  Cardiac Pacemaker Market by Type, 2023 & 2032 (USD Billion)Source: Secondary Research, Primary Research, M.R.F.R. Database and Analyst Review

Cardiac Pacemaker Technology Insights

The Cardiac Pacemaker is segmented by technology, including biventricular, single-chambered, and dual-chambered. Reduced postoperative complications can lead to partial growth. Biventricular pacemakers are expected to gain momentum due to the presence of multiple tracks. These devices can be installed in multiple locations because they consist of three tracks installed in the left and right atria and ventricles. These biventricular pacemakers are very useful because of their many benefits in helping with conditions such as ventricular desynchrony. Furthermore, increasing technological advancements and product approvals drive the market growth for cardiac pacemaker in this segment.

Cardiac Pacemaker Application Insights

The application-based Cardiac Pacemaker market data include arrhythmias and congestive heart failure. The arrhythmia segment dominated the pacemaker market and accounted for the largest revenue share at 37.6% in 2021. The segment is further segmented into atrial fibrillation, heart block, and long Q.T.Q.T. syndrome. Factors such as lifestyle disorders, excessive alcohol consumption, smoking, and obesity contribute to the prevalence of cardiac arrhythmias. According to the European Medical Group L.T.D., in 2019, the overall prevalence of atrial fibrillation and atrial flutter in the U.K.U.K. was 12,32,144. The congestive heart failure segment is the second fastest-growing segment during the forecast period. In December 2019, nearly 6.5 Billion adults in the United States were living with heart failure, according to the C.D.C. Hence, increasing heart failure is driving the demand for technologically advanced pacemakers during the forecast period.

Cardiac Pacemaker End User Insights

The End User-based market of cardiac pacemaker data includes hospitals and ambulatory. The hospitals and heart centers segment holds a dominant share of approximately 60.6%. Hospitals and heart centers provide quality care for patients when they are admitted. In addition, these centers also provide reimbursement during procedures, thereby driving the growth of the segment. The American Heart Association says the number of patients hospitalized for cardiac arrest is expected to increase by nearly 23.6 Billion by 2032. The end-user segment is segmented into hospitals, cardiac centers, ambulatory surgery centers, and others.

News

Researchers in the US have unveiled a wireless-powered implant that can identify and painlessly fix abnormal heartbeats. The team at the University of Arizona, led by Philipp Gutruf, based the idea on a flexible mesh that encircles and keeps an eye on the heart. More precisely than current pacemakers, optical signals an onboard computer produces are employed to target heart muscle cells. This strategy might result in much more pleasant gadgets for millions of people with heart disease.

Cardiac Pacemaker Regional Insights

By region, the study provides market insights for cardiac pacemaker into North America, Europe, Asia-Pacific and the Rest of the World. The North America Cardiac Pacemaker market accounted for USD 2.1 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This growth is due to the increasing geriatric population suffering from cardiac issues, the presence of major players, rapid technological advancements (e.g., M.R.I. compatible pacemakers, Bluetooth-enabled pacemakers), and improvements in regulatory approvals.

Further, the major countries studied in the market report for cardiac pacemaker are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  CARDIAC PACEMAKER MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, M.R.F.R. Database and Analyst Review

Europe's Cardiac Pacemaker market accounts for the second-largest market share owing to the rising prevalence of cardiovascular diseases such as arrhythmia, technological advancements in diagnostic instruments, and the demand for pacemakers. Surge minimally invasively implanted a pacemaker in the area. Further, the U.K. market of cardiac pacemaker held the largest market share, and the Germany market of cardiac pacemaker was the fastest-growing market in this region.

The Asia Pacific, cardiac pacemaker Market, is expected to grow at the fastest CAGR from 2024 to 2032. The market growth in this region is due to the market penetration of major players, and many untapped opportunities are driving the growth. Additionally, investments in the healthcare sector, especially in Japan, China, and India, have gained traction. These countries are gradually focusing on developing strong medical facilities for cardiovascular diagnosis and treatment. These factors are expected to drive market growth in the coming years. Further, the China market of cardiac pacemaker held the largest market share, and the India market of cardiac pacemaker was the fastest-growing market in the region.

Cardiac Pacemaker Key Market Players & Competitive Insights

Major market players are investing heavily in research and development to increase their product lines, which will help the market of Cardiac Pacemaker to grow further. The market players have also undertaken several strategic initiatives to expand their  footprints, including key market developments such as new product launches, contractual agreements, mergers and acquisitions, increasing investments, and collaborations with other organizations. Competitors in the Cardiac Pacemakers industry must offer cost-effective products to expand and survive in the increasingly competitive and rising market environment.

One of the key business strategies adopted by the manufacturers in the  Cardiac Pacemaker industry to benefit their customers and expand their market segment is to manufacture locally to reduce operating costs. In recent years, the Cardiac Pacemaker industry has provided some of the most significant benefits to medicine. Major players in the Cardiac Pacemakers market, such as Sorin Group, Abbott Laboratories, Pacetronix, Biotronik SE & Co. K.G.K.G., are focusing on expanding the market demand by investing in research and development activities.

Abbott Laboratories is an American multinational medical device and healthcare company headquartered in Abbott Park, Illinois, U.S.A. The company was founded in 1888 by Chicago physician Wallace Calvin Abbott to formulate known medicines; today, it sells medical devices, diagnostics, branded generics, and nutritional products. In 2020, the American multinational medical device and healthcare company Abbott Laboratories spent more than $2.42 billion on research and development.

Also, Medtronic plc is an American medical device company. The company's operational and executive headquarters are in Minneapolis, Minnesota, and its legal headquarters are in Ireland due to its acquisition of Ireland-based Covidien in 2015. While it primarily operates in the United States, it operates in more than 150 countries and employs more than 90,000 people. It develops and manufactures healthcare technologies and therapies. In June 2021, Medtronic launched Micra A.V.A.V., a small, self-contained pacemaker that provides advanced pacing technology to patients with atrioventricular (A.V.A.V.) block through a minimally invasive approach.

Key Companies in the Cardiac Pacemakers market include

• Sorin Group


• Abbott Laboratories


• Pacetronix


• Biotronik SE & Co. KG


• Cook Medical


• Zoll Medical Corporation


• Boston Scientific Corporation


• Medtronic P.L.C.


• Osypca Medical GmbH


• Medico SpA, among others

Cardiac Pacemaker Industry Developments

June 2021: Medtronic India Private Limited launched Micra A.V.A.V., a miniaturized, fully self-contained pacemaker that provides advanced pacing technology to patients with atrioventricular (A.V.A.V.) block through a minimally invasive approach. The device is the first pacemaker to sense atrial activity without lead wires or supra-cardiac devices

January 2021: Boston Scientific announced plans to acquire Preventice Solutions, a developer of remote cardiac monitoring.

Cardiac Pacemaker Market Segmentation

Cardiac Pacemaker Type Outlook

• Implantable


• External

Cardiac Pacemaker Technology Outlook

• Biventricular


• Single-Chambered


• Dual-Chambered

Cardiac Pacemaker Application Outlook

• Arrhythmias


• Congestive Heart Failure

Cardiac Pacemaker End User Outlook

• Hospitals


• Ambulatory

Cardiac Pacemaker Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America