Global Cardiac Pacemaker Market Size, Trends & Growth Opportunity, By Type (Implantable and External), By End-User (Clinics and Hospitals, Ambulatory Surgical Centres, and Cardiac Care Centres), and By Region and Forecast till 2027.

Global Cardiac Pacemaker Market

The Cardiac Pacemaker Market is expected to grow at a CAGR of 4.3%, from USD 5.07 billion in 2020 to USD 7.54 billion in 2027.

A pacemaker is a small electrical device that is used to treat arrhythmias in people who have an irregular heartbeat. Tachycardia and bradycardia are the two types of arrhythmias. Tachycardia is when the heart beat is too fast, and bradycardia is when the heart beat is too slow. Arrhythmia occurs when the heart is unable to pump enough blood to the rest of the body, resulting in fatigue and fainting.

Drivers: The growing prevalence of cardiovascular disorders in developed countries, high disease occurrence in underdeveloped countries, various supportive government initiatives, and non-government organisation funding are all driving the global cardiac pacemaker market. Advanced diagnostics, a favourable reimbursement scenario for treatment, and cost-effective measures taken by various governments are also driving the cardiac pacemaker market.

Restraints: On the other hand, the high cost of cardiac drugs and pacemakers is expected to stifle market expansion. The cardiac pacemakers market is expected to be challenged by unfavourable reimbursement scenarios, particularly in developing countries.

Impact of Covid-19

The COVID-19 pandemic is expected to cause a slowdown in the market for cardiac pacemakers. Many countries have suffered and continue to suffer significant economic and healthcare burdens as a result of the high transmission rate and lack of treatment. Many countries have gone into lockdown, suspending trade with other countries, imposing travel restrictions, and so on, causing major companies' market capitalizations to plummet around the world. The American College of Surgeons and the American Society of Anaesthesiologists also recommended a 14-day period of sustained reduction in the rate of new COVID-19 cases before elective surgery could resume.

Segmentation By Type: Global Cardiac Pacemaker Market is classified on the basis of Type into Implantable and External.

Segmentation By End-User: Global Cardiac Pacemaker Market is classified on the basis of End-User into Clinics and Hospitals, Ambulatory Surgical Centres, and Cardiac Care Centres.

Segmentation By Region: Global Cardiac Pacemaker Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape: Medtronic’s, St.Jude Medical Inc., Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Lepu Medical Technology Co ltd., MEDICOWEB, Pacetronix ltd., LivaNova Plc., and Osypka Medical GmbH

Industrial Developments

• Medtronic Private Limited will launch Azure Pacemaker BlueSync technology in India in October 2020. Patients' smartphones and tablets can communicate directly with this technology.
• The US Food and Drug Administration approved Medtronic PLC's Leadless Micra AV, the world's smallest pacemaker with atrioventricular (AV) synchrony, in February 2020.
• Abbott Laboratories received FDA approval for its Gallant line in July 2020, which includes an implantable cardioverter-defibrillator and a cardiovascular resynchronization treatment defibrillator with Bluetooth technology.
• In October 2020, Medtronic Private Limited launched the Azure Pacemaker BlueSync innovation in India, which allows patients' pacemakers to communicate directly with their phones and tablets.
• In January 2021, Boston Scientific Corporation announced an agreement to acquire Preventice Solutions, a distant heart observing engineer.

Market Taxonomy

By Type

• Implantable

• Single Chamber
• Dual Chamber
• Biventricular

• External

By End-user

• Clinics and Hospitals
• Ambulatory Surgical Centres
• Cardiac Care Centres

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Cardiac Pacemaker Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?