Global Cardiac Pacemaker Market to Grow at a CAGR of 3.1% During 2024-2032, Driven by the Rising Prevalence of Cardiac Diseases

North America holds a significant market share due to the presence of leading technology companies and renowned healthcare providers. Additionally, the prevalence of obesity among Americans is high; an estimated 42 per cent of adult Americans are obese, and about 30 per cent are overweight. In general, almost two-thirds of American individuals are either obese or overweight.

The rising rate of cardiovascular diseases due to unhealthy food habits and a lack of exercise drives the cardiac pacemaker market growth in North America. The rising rate of cardiovascular disease in the South Asian region, especially among Indians, also positively contributes to the market demand. Besides, the growing geriatric population, especially in regions such as North America and Europe, is propelling the market growth.

Increasing clinical trials and approvals to develop innovative cardiac pacemakers are positively influencing the market growth. In July 2023, Abbott (NYSE: ABT) announced that the US FDA approved the world’s first dual chamber leadless pacing system, the AVEIR™ dual chamber (DR) leadless pacemaker system.

In addition, increasing approvals and certifications of innovative cardiac pacemakers are expected to further aid the market expansion in the coming years. For instance, in January 2024, Medtronic plc received the CE (Conformité Européenne) Mark for its leadless and miniature pacemakers, Micra™ AV2 and Micra™ VR2. The pacemakers offer longer battery life, easy programming, reduced complications, and remote monitoring capabilities.

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Market Analysis by Product Type, Technology, Application, End User, and Region:

• The market, on the basis of product type, can be divided into MRI compatible pacemaker, convertible pacemaker, implantable pacemakers, and external pacemakers.

• Based on technology, the market can be divided into single chamber pacemaker, dual chamber pacemaker, and biventricular/CRT pacemaker.

• The various applications of cardiac pacemaker include arrhythmias, atrial fibrillation, bradycardia, and tachycardia, among others.

• Based on end user, the market can be divided into cardiac centres, ambulatory surgical centres, hospitals, and clinics, among others.

• The major regional markets for cardiac pacemaker include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• According to the estimates of the World Heart Federation (WHF), deaths from cardiovascular disease surged by about 60%, which constituted 20.5 million in 2021 among individuals. The rising prevalence of cardiovascular diseases supports the cardiac pacemaker market expansion.

• Continuous technological improvements such as the development of smaller pacing devices by leading companies like Abbott Laboratories and Biotronik contribute to the market growth.

• Strict regulatory approval procedures guarantee pacemaker efficiency and safety. Thus, regulatory processes across regions such as the US Food and Drug Administration (FDA) consider premarket approval (PMA) processes during the manufacturing of such devices and mandatory registration for implantable medical devices. A simplification of regulatory processes can accelerate market growth.

• Government investments in the development of innovative pacemaker systems further contribute to the market.

Key Offerings of the Report:

• The EMR report gives an overview of the global cardiac pacemaker market for the periods (2017-2023) and (2024-2032).

• The report also offers the historical (2017-2023) and forecast (2024-2032) markets for the product types, technologies, applications, end users, and major regions of cardiac pacemaker.

• It assesses the regional price trends for the (2017-2023) and (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cardiac pacemaker market are Zoll Medical Corporation, MicroPort Scientific Corporation, OSCOR Inc., Osypka Medical GmbH, Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK, LivaNova, Pacetronix, MEDICO, Osypka Medical, and Lepu Medical Co ltd. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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