Pacemaker Market Analysis, Top Companies, New Technology, Demand and Opportunity Analysis

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A pacemaker is a small device that is placed in chest or abdomen, which uses electrical pulses to maintain adequate heartbeat. Increasing prevalence of heart diseases and growing geriatric population are positively impacting the growth of the global pacemaker market. According to the Centers for Disease Control and Prevention (CDC) statistics 2017, 2.7–6.1 million people in the U.S. had atrial fibrillation. It is the most common type of abnormal heart rhythm. Although, arrhythmia affects all age groups, however, risk of developing atrial fibrillation increases significantly with age.
Based on technology, the pacemaker market is categorized into single-chamber, dual-chamber, and biventricular. Single-chamber pacemaker connects the pulse generator to one of the chambers of heart. Dual-chamber pacemaker comprises two leads, which are placed in the right atrium and ventricle. Biventricular pacemaker consists of two or three leads and is used in patient that shows a lack of synchronization between contractions of the left and right ventricles, which is a most common condition, known as ventricular desynchrony.

On the basis of application, the pacemaker market is categorized into arrhythmia, atrial fibrillation, heart block, and long QT syndrome. Based on end user, the pacemaker industry is classified into cardiac clinics, hospitals, and ambulatory surgical centers. Pacemaker devices in hospitals are expected to lead the market, due to increase in the prevalence of heart diseases and surging number of patients undergoing surgeries in hospitals. According to CDC, more than 750,000 hospitalizations cases occur each year due to atrial fibrillation.
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The pacemaker industry is characterized by increasing number of product launches and collaborations that leads to the expansion of manufacturers’ market share. For instance, Biotronik Inc. launched Edora Pacemaker Series with Magnetic Resonance Imaging (MRI) AutoDetect Technology in 2017. It is the smallest MR-conditional pacemaker with automated MRI detection capability available in the U.S. with a volume of 10 cc and weight of 20.8 g.

In 2018, Bay Labs Inc., a medical technology company at the forefront of applying artificial intelligence (AI) for cardiovascular imaging, announced a collaboration with Edwards Lifesciences Corporation to focus on improving the detection of heart diseases. The companies believe that this will help in the early detection and treatment of the diseases.

Some other major players in the global pacemaker market are Abbott Inc. (ST. Jude Medical), Medtronic PLC, Boston Scientific Corporation, Sorin Group, Lepu Medical Co. Ltd., Zoll Medical Corporation, and Medico SpA.

The study provides the historical as well the forecast market size data for various countries including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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