Global Pacemakers Market Size 2018, by Position (Conventional Pacemakers & MRI Compatible Pacemakers), by Position (Implantable Pacemakers & External Pacemakers), by Technique (Single-chamber Pacemaker, Dual-chamber Pacemaker & Biventricular Pacemaker), by Region and Forecast 2019 to 2025
Mar 2020
Total Pages: 100
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The global pacemakers market was valued at USD 3,863.4 million in 2018 and is expected to grow at a CAGR of 2.5% over the forecast period. Pacemakers over the years have achieved a vital position in the field of cardiac surgery, due to their proven efficiency in treating cardiac failure and acute conditions of arrythmia.
.png "Global Pacemakers Market, 2015-2025 (USD Million)")
The global pacemakers market is segmented based on their position, type, and technique. Geographically, the global market is collective to North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. North America occupies the largest market share of approximately 40%, followed by Europe. The adoption of MRI compatible pacemakers is the highest worldwide, while implantable pacemakers are in high demand.
Major players competing in the global pacemakers market are Medtronic Plc, Boston Scientific Corporation, LivaNova, Biotronik, Lepu Medical, Abbott Laboratories, OSCOR, MEDICO, and Pacetronix.
Key segments of the global pacemakers market
Position Overview, 2015-2025 (USD Million)
- Implantable pacemakers
- External pacemakers
Type Technologies Overview, 2015-2025 (USD Million)
- Conventional pacemakers
- MRI compatible pacemakers
Technique Overview, 2015-2025 (USD Million)
- Single-chamber pacemakers
- Dual-chamber pacemakers
- Biventricular pacemakers
Regional Overview, 2015-2025 (USD Million)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Central and South America
- Brazil
- Mexico
- Rest of Central and South America
- Middle East & Africa
- GCC
- Rest of Middle East and Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global pacemakers industry
- The overall segmentation of pacemakers market, especially key segments such as type, technique, and positions are studied in depth. The demand for MRI compatible pacemakers is anticipated to remain the highest through 2025
- Presence of major medical device manufacturers in this space, and strong regional and international presence has resulted in intense competition among the players
What does the report include?
- The study on the global pacemakers market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, position and technique. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Pacemakers Market is suitable for all the players across the value chain including raw material suppliers, pacemaker manufacturers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global pacemakers market
Consultants, analysts, researchers, and academicians looking for insights shaping the global pacemakers market
MRI compatible pacemakers is the biggest trend in pacemaker technology. These devices allow patients to safely undergo MRI examination without interfering with the device functioning. As reported by the Mayo Clinic, 75% of patients that have implantable cardiac devices need at least 1 MRI in their lifetime. Biotronik also reported that each year, at least 20% patients with pacemaker need MRI assessment within the first two years of implantation. In May 2015, the company also reported that 60% of the pacemakers sold by the company were MRI compatible.
It is also suggested that a majority of the patients with pacemakers are geriatrics and are likely to need MRI after implantation, as this population often may have other chronic conditions. Boston Scientific received FDA approval in 2016 for its system of MRI safe pacemaker products. Abbott also received FDA clearance in 2017 for its MRI safe Assurity MRI pacemaker and Tendril MRI lead. Furthermore, the Advisa MRI SureScan system from Medtronic is approved for 1.5T and 3.0T MRI scans.
Moreover, manufacturers are also working on improving the battery life of pacemakers. As pacemakers are also being implanted in younger patients, longevity of these devices is more sought after. Battery life of pacemakers often depend on the pacing needs; some manufacturers have developed algorithms for real time heart monitoring and reduce pacing for extending the battery life.
The global pacemakers market is classified based on the position, technique and types. Based on the position of pacemakers, the demand for implantable pacemakers is the highest due to the technological innovation towards improving the life and size of the implants. Among the techniques of pacemakers, biventricular pacemakers are anticipated to witness the fastest CAGR of over 3.5% during the forecast period. MRI compatible devices are in the highest demand and of high preference by surgeons, due to the proven convenience in post-surgery monitoring and treatment of other chronic conditions such as cancer, orthopedic trauma, etc.
.png "Global Pacemakers Market Share by Position (2018)")
Based on regions, the global pacemakers market is segmented into North America, Europe, Asia Pacific, Central and South America and Middle East & Africa.
-by-Region,-2018.png "Global Pacemakers Market Revenue (USD Million) by Region, 2018")
North America currently holds the largest share in pacemakers market. market owing to the better reimbursements, greater awareness in both patients and caregivers, higher prevalence of CVDs in the general population, greater adoption in geriatric patients and so on. Asia Pacific, on the ground of burgeoning medical tourism, improving healthcare infrastructure and insurance system will garner the highest growth rate during the forecast period. Countries such as India, China and Japan house the largest geriatric population. Implantation of pacemakers is always the highest in patients aged 65 and above. Influx of foreign patients in the region owing to better service through medical tourism is also contributing to the high growth rate of Asia Pacific market.
The global pacemakers market was valued at USD 3,863.4 million in 2018 and is expected to grow at a CAGR of 2.5% over the forecast period. Pacemakers over the years have achieved a vital position in the field of cardiac surgery, due to their proven efficiency in treating cardiac failure and acute conditions of arrythmia.
The global pacemakers market is segmented based on their position, type, and technique. Geographically, the global market is collective to North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. North America occupies the largest market share of approximately 40%, followed by Europe. The adoption of MRI compatible pacemakers is the highest worldwide, while implantable pacemakers are in high demand.
Major players competing in the global pacemakers market are Medtronic Plc, Boston Scientific Corporation, LivaNova, Biotronik, Lepu Medical, Abbott Laboratories, OSCOR, MEDICO, and Pacetronix.
Key segments of the global pacemakers market
Position Overview, 2015-2025 (USD Million)
- Implantable pacemakers
- External pacemakers
Type Technologies Overview, 2015-2025 (USD Million)
- Conventional pacemakers
- MRI compatible pacemakers
Technique Overview, 2015-2025 (USD Million)
- Single-chamber pacemakers
- Dual-chamber pacemakers
- Biventricular pacemakers
Regional Overview, 2015-2025 (USD Million)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Central and South America
- Brazil
- Mexico
- Rest of Central and South America
- Middle East & Africa
- GCC
- Rest of Middle East and Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global pacemakers industry
- The overall segmentation of pacemakers market, especially key segments such as type, technique, and positions are studied in depth. The demand for MRI compatible pacemakers is anticipated to remain the highest through 2025
- Presence of major medical device manufacturers in this space, and strong regional and international presence has resulted in intense competition among the players
What does the report include?
- The study on the global pacemakers market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, position and technique. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Pacemakers Market is suitable for all the players across the value chain including raw material suppliers, pacemaker manufacturers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global pacemakers market
Consultants, analysts, researchers, and academicians looking for insights shaping the global pacemakers market
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
Chapter 2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Primary Sources
2.4. Secondary Sources
2.5. Market Size Estimation
2.6. Market Forecast
2.7. Data Triangulation
2.8. Assumptions and Limitations
Chapter 3. Market Outlook
3.1. Introduction
3.2. Macroeconomic Indicators
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Restraints
3.3.3. Opportunities
3.3.4. Challenges
3.4. Porter’s Five Forces Analysis
3.5. PESTLE Analysis
Chapter 4. Global Pacemakers Market by Position, 2015-2025 (USD Million)
4.1.1. Implantable pacemakers
4.1.2. External pacemakers
Chapter 5. Global Pacemakers Market by Type, 2015-2025 (USD Million)
5.1.1. Conventional
5.1.2. MRI Compatible
Chapter 6. Global Pacemakers Market by Technique, 2015-2025 (USD Million)
6.1.1. Single-chamber pacemakers
6.1.2. Dual-chamber pacemakers
6.1.3. Biventricular pacemakers
Chapter 7. Global Pacemakers Market by Region, 2015-2025 (USD Million)
7.1. North America
7.1.1. U.S.
7.1.2. Canada
7.2. Europe
7.2.1. Germany
7.2.2. UK
7.2.3. France
7.2.4. Spain
7.2.5. Rest of Europe
7.3. Asia Pacific
7.3.1. Japan
7.3.2. China
7.3.3. India
7.3.4. Rest of Asia Pacific
7.4. Central and South America
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of Central and South America
7.5. Middle East and Africa
7.5.1. GCC
7.5.2. Rest of Middle East and Africa
Chapter 8. Company Profiles
8.1. Medtronic Plc
8.1.1. Overview
8.1.2. Products and Services Portfolio
8.1.3. Recent Initiatives
8.1.4. Company Financials
8.2. Boston Scientific Corporation
8.2.1. Overview
8.2.2. Products and Services Portfolio
8.2.3. Recent Initiatives
8.2.4. Company Financials
8.3. LivaNova
8.3.1. Overview
8.3.2. Products and Services Portfolio
8.3.3. Recent Initiatives
8.3.4. Company Financials
8.4. Biotronik
8.4.1. Overview
8.4.2. Products and Services Portfolio
8.4.3. Recent Initiatives
8.4.4. Company Financials
8.5. Lepu Medical
8.5.1. Overview
8.5.2. Products and Services Portfolio
8.5.3. Recent Initiatives
8.5.4. Company Financials
8.6. Abbott Laboratories
8.6.1. Overview
8.6.2. Products and Services Portfolio
8.6.3. Recent Initiatives
8.6.4. Company Financials
8.7. OSCOR
8.7.1. Overview
8.7.2. Products and Services Portfolio
8.7.3. Recent Initiatives
8.7.4. Company Financials
8.8. MEDICO
8.8.1. Overview
8.8.2. Products and Services Portfolio
8.8.3. Recent Initiatives
8.8.4. Company Financials
8.9. Pacetronix
8.9.1. Overview
8.9.2. Products and Services Portfolio
8.9.3. Recent Initiatives
8.9.4. Company Financials
Chapter 9. Appendix
9.1. Primary Research Approach
9.1.1. Primary Interview Participants
9.1.2. Primary Interview Summary
9.2. Questionnaire
9.3. Related Reports
9.3.1. Published
9.3.2. Upcoming