March 2024
02 Aug 2024
The global cardiac pacemaker market revenue was valued at USD 5.37 billion in 2023 and is poised to grow from USD 5.61 billion in 2024 to USD 8.72 billion by 2034, at a CAGR of 4.5% during the forecast period 2024 – 2034. The growing number of cases of cardiac vascular diseases, high-charging treatment methods, and good-quality advanced pacemakers are some of the reasons driving the cardiac pacemaker market.
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The cardiac pacemaker market manufactures small devices that send electric pulses to help the heart beat at normal rhythm or rate. This cardiac pacemaker market is getting huge attention due to rising cases related to cardiovascular diseases like bradycardia, hypertrophic cardiomyopathy, syncope, etc. This device can help beat the heart in sync so that it can help the heart pump blood efficiently and regularly. Pacemakers are of two types: temporary and permanent. Among them, the temporary pacemaker is inserted through the vein to the neck portion and stays in the outer side of the body. In contrast, the permanent pacemaker is placed in the chest or abdomen.
Some of the major companies that play important roles in manufacturing advanced pacemaker devices and contribute highly to the growth of the market are Medtronic, Biotronik, Medico, LivaNova, and a few others. Also, the demand for advancement in facilities to operate such cases is contributing on a large scale, such as health care experts, hospitals, and various other testing equipment.
The growing elderly population and heart diseases are driving the cardiac pacemaker market
Cardiac pacemakers play a significant role in current times as several factors are causing cardiac diseases, such as the growing geriatric population, changing lifestyles, changing food habits, and a lot more. Cardiovascular diseases like coronary heart disease, cerebrovascular disease, peripheral arterial disease, congenital heart disease, etc, are caused by blockage of blood flow. Death caused due to poor heart health and various heart diseases has raised concern throughout the world.
Research conducted in America claims that nearly 700,000 deaths occur due to heart diseases in Americans. And the government is taking multiple steps to inform people and improve healthcare facilities to protect lives. For instance, in March 2024, the U.S. Food and Drug Administration approved the use of Wegovy injection to reduce the risk of heart attack, cardiovascular health, and stroke in the adult population. These risk factors associated with cardiac disease are driving the cardiac pacemaker market to bring advanced devices.
It is difficult for all sections of society to afford such cardiovascular surgeries and devices like pacemakers. This high cost is creating a hindrance in the growth of the cardiac pacemaker market. Cardiac surgeries and treatment require a lot of safety concerns, and the usage of top-quality products is the reason costs are high. Also, there is post-surgery risk associated with the nearby area where the pacemaker device is adjusted; these are some of the reasons hindering the growth of the cardiac pacemaker market.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 5.61 Billion |
| Market Revenue by 2034 | USD 8.72 Billion |
| Market CAGR | 4.5% from 2024 to 2034 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Development by Biotronik SE & Co. KG
Recent Development by Implicity
North America dominated the cardiac pacemaker market in 2023 for various reasons, such as a large number of elderly people, the presence of leading companies, continuous research work, and regular advancement. The risk of cardiovascular diseases like arrhythmias, congestive heart failure, peripheral artery diseases, congenital heart diseases, etc, is rapidly increasing in the U.S. As per CDC research, heart disease is the leading cause of death in America. So, continuous research and advancement are primarily focused on the North American region. For instance, Abbott Laboratories, an American multinational medical device and healthcare company, launched the world’s first dual chamber leadless pacemaker, the AVEIR DR system.
Asia Pacific, cardiac pacemaker market, is observed to be rapidly growing during the forecast period due to massively untapped chances. A huge investment in the research field in countries like India, Japan, China, Malaysia, the Philippines, and South Korea is contributing majorly to the growth of the cardiac pacemaker market. Indian companies such as Medtronic Private Limited, in June 2021, launched the world’s smallest pacemaker, Micra-AV, which is a fully self-contained pacemaker that delivers advanced pacing technology to atrioventricular (AV) block patients. This is the first device that can sense atrial activities without a device in the upper chamber of the heart.
Huge investment in research studies and advancement enhances the cardiac pacemaker market potential.
The cardiac pacemaker market is segmented into single-chamber, dual-chamber, and triple-chamber pacemakers. This market can be grown by government awareness initiatives regarding heart disease, funding to grow the number of healthcare centers, which ultimately help people acknowledge cardiac health services available and their success rate, and by promoting research for the advancement of pacemakers. With the advancement of pacemaker affordability, it also needs to be kept on focus as this is one of the major reasons for its being an obstacle in the market. For instance, in February 2024, a team of cardiologists successfully replaced a pacemaker with an intra-cardiac device in AIIMS Bhopal.
Market Segments
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By End-Use
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