According to the latest report by IMARC Group, titled "Cardiac Pacemaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global cardiac pacemaker market size reached US$ 4.79 Billion in 2022. A cardiac pacemaker is a small, battery operated medical electronic device implanted in the chest or abdomen to regulate the heartbeat. It operates by sending electrical signals to the heart muscle, which causes it to contract and pump blood. It comprises electronic and mechanical components, including microprocessors, sensors, electrodes, wires, leads, and housing. It aids in reducing the risk of complications like stroke and heart failure that can be caused by an irregular and slow heart rate. Nowadays, a cardiac pacemaker can be customized according to the requirements of the patient.
Global Cardiac Pacemaker Market Trends:
The surging prevalence of chronic diseases, such as arrhythmias, congenital heart disease, atrial fibrillation, and cardiovascular diseases (CVDs), represents one of the key factors catalyzing the demand for cardiac pacemakers around the world. Moreover, rising cases of heart failure on account of sedentary lifestyles, unhealthy dietary patterns, high-stress levels, diabetes, and obesity among the masses are augmenting the growth of the market. In addition, the growing geriatric population, which is more susceptible to these medical conditions, is influencing the market positively. Apart from this, leading players are launching small and less invasive cardiac pacemakers to make it easier for patients to tolerate and surgeons to implant. They are also introducing cardiac pacemakers with longer battery life and remote monitoring capabilities that enable healthcare professionals to track the performance of the device and heart function of patients remotely utilizing a smartphone. Furthermore, the increasing awareness about the available treatment alternatives for heart-related diseases is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.08 Billion by 2028, exhibiting a CAGR of 4.0% during 2023-2028.
- On the basis of the type, the market has been bifurcated into implantable and external. Presently, implantable holds the largest market share.
- Based on the technology, the market has been segmented into biventricular, single chambered, dual chambered, and others. Dual chambered currently accounts for the biggest market share.
- On the basis of the indication, the market has been categorized into arrhythmias, congestive heart failure, and others. At present, arrhythmias dominates the market.
- Based on the end user, the market has been segregated into hospitals and clinics, ambulatory surgery centers, and others. Hospitals and clinics currently represented the biggest market segment.
- Region wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Biotronik, Boston Scientific Corporation, Lepu Medical Technology (Beijing)Co. Ltd., MEDICO s.r.l., Medtronic plc, MicroPort Scientific Corporation, Oscor Inc. (Integer Holdings Corporation), Osypka Medical GmbH., and Shree Pacetronix Ltd.
|Base Year of the Analysis
||Biventricular, Single Chambered, Dual Chambered, Others
||Arrhythmias, Congestive Heart Failure, Others
|End Users Covered
||Hospitals and Clinics, Ambulatory Surgery Centers, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Biotronik, Boston Scientific Corporation, Lepu Medical Technology (Beijing)Co. Ltd., MEDICO s.r.l., Medtronic plc, MicroPort Scientific Corporation, Oscor Inc. (Integer Holdings Corporation), Osypka Medical GmbH., Shree Pacetronix Ltd., etc.
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