by The global pacemakers market size was valued at USD 3.4 billion in 2020, and is predicted to be worth around USD 6.01 billion by 2030, registering a CAGR of 3.6% during the forecast period 2022 to 2030.
Growth Factors
This growth is owing to various factors such as technological advancements and the increasing prevalence of cardiovascular devices. Furthermore, the growing sedentary lifestyle coupled with the rising geriatric population is also anticipated to fuel the market growth during the projected period. During the COVID-19 pandemic, the market experienced a decline in revenues. This is owing to the postponement and cancellation of surgeries. According to the National Center for Biotechnology Information (NCBI), there was around a 73% reduction in de-novo pacemaker implantation during the initial months of the pandemic, which heavily impacted the market.
Rising incidences of CVDs, increasing cost of cardiac disease management, favorable government policies, and the launch of technologically advanced pacemakers such as the MRI safe pacemakers and leadless pacemakers are chiefly driving the growth in the market. The rising burden of cardiovascular diseases is one of the key factors for the growth of the market.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 6.01 billion by 2030 |
| Growth Rate | CAGR of 3.6% From 2022 to 2030 |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, Type, Application, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Boston Scientific Corporation; Zoll Medical Corporation; Medtronic; BIOTRONIK; MicroPort Scientific Corporation; Cook Medical; MEDICO SpA; Pacetronix; Oscor Inc.; Osypka Medical GmbH |
By Product Analysis
The implantable pacemakers segment held the largest share of more than 60% of the pacemakers’ market in 2021. Implantable pacemakers are further classified into a single chamber, biventricular pacemakers, and dual-chamber.
The external pacemaker segment is expected to show promising growth during the forecast period due to the easy configuration, enhanced user interface, and improved low battery indicator.
The presence of market players such as Medtronic, Pacetronix, and Oscor Inc., dealing in the external pacemakers’ is also anticipated to positively influence segment growth.
By Type Analysis
In terms of revenue, the conventional pacemakers segment dominated the market and accounted for the largest revenue share of over 51.0% in 2021. This growth is owing to continuous upgradations, affordability, small-sized, and elongated shelf life.
The MRI compatible pacemaker segment is expected to show lucrative growth during the forecast period. The high share is attributable to increased MRI-based diagnosis.
By Application Analysis
The arrhythmias segment dominated the pacemakers market and held the largest revenue share of 37.6% in 2021. The segment is further divided into atrial fibrillation, heart block, and long QT syndrome.
Factors such as lifestyle disorders, excessive alcohol consumption, smoking, and obesity are contributing to the prevalence of cardiac arrhythmia.
The congestive heart failure segment is the second-fastest-growing segment during the forecast period. As per the CDC, in December 2019, nearly 6.5 million adults in the U.S. suffer from heart failure.
By End-use Analysis
The hospitals and cardiac centers segment held a dominant share of around 60.6% in 2021. Hospitals and cardiac centers offer superior care to their patients while they are admitted. In addition, these centers also offer reimbursements during surgeries, thereby, driving the growth of the segment.
The ambulatory surgical center segment is expected to show promising growth during the forecast period owing to its advanced market reach especially to rural parts and ease of treatment. Ambulatory surgical centers have proven to be a competent solution in this scenario.
By Regional Analysis
North America dominated the market for pacemakers and accounted for the largest revenue share of around 43.4% in 2021. This growth is owing to the increasing elderly population with cardiac problems, the presence of key players, rapid technological advancements such as MRI compatible pacemakers, Bluetooth enabled pacemakers, and improving regulatory approvals.
In Asia Pacific, the market is likely to exhibit a lucrative CAGR of around 4.8% over the estimated period. This growth of the market in the region is owing to market penetration by the key players, and massive untapped opportunities are driving the growth.
Key Players
- Boston Scientific Corporation
- Zoll Medical Corporation
- Medtronic
- BIOTRONIK
- MicroPort Scientific Corporation
- Cook Medical
- MEDICO SpA
- Pacetronix
- Oscor Inc.
- Osypka Medical GmbH
Market Segmentation
- By Product
- Implantable pacemakers
- Single Chamber
- Dual Chamber
- Biventricular Chamber
- External pacemakers
- Implantable pacemakers
- By Type
- MRI Compatible Pacemakers
- Conventional Pacemakers
- By Application
- Arrhythmias
- Atrial Fibrillation
- Heart Block
- Long QT Syndrome
- Congestive Heart Failure
- Others
- Arrhythmias
- By End-use
- Hospitals & Cardiac Centers
- Ambulatory Surgical Centers
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
- UAE
- North America
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Application Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Pacemakers Market, By Product
7.1. Pacemakers Market, by Product, 2021-2030
7.1.1. Implantable pacemakers
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. External pacemakers
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Pacemakers Market, By Type
8.1. Pacemakers Market, by Type, 2021-2030
8.1.1. MRI Compatible Pacemakers
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Conventional Pacemakers
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Pacemakers Market, By Application
9.1. Pacemakers Market, by Application, 2021-2030
9.1.1. Arrhythmias
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Congestive Heart Failure
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Pacemakers Market, By End-use
10.1. Pacemakers Market, by End-use, 2021-2030
10.1.1. Hospitals & Cardiac Centers
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Ambulatory Surgical Centers
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Pacemakers Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.2. Market Revenue and Forecast, by Type (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. Market Revenue and Forecast, by End-use (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Type (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.2. Market Revenue and Forecast, by Type (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Type (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Type (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Type (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.2. Market Revenue and Forecast, by Type (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Type (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Type (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Type (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.2. Market Revenue and Forecast, by Type (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Type (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Type (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Type (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Type (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Type (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.6.4. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 12. Company Profiles
12.1. Boston Scientific Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Zoll Medical Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Medtronic
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. BIOTRONIK
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. MicroPort Scientific Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Cook Medical
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. MEDICO SpA
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Company 8
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Pacetronix
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Oscor Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Osypka Medical GmbH
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
Glossary of Terms
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