pacemakers Market

The global pacemakers market is expected to reach US$ 10,908.0 Mn in 2027 from US$ 5,485.4 in 2018. The market is estimated to grow with a CAGR of 8.1% from 2019-2027.

Driving factors such as, increasing burden of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements, and large pool of geriatric population. Additionally, the future trends such as product innovations is likely to increase the growth of the pacemakers market in the forecasted period.

In developed and maturing markets, major pacemakers companies are seeking for market growth by developing novel products. Growing demand for high quality healthcare services and products poses a need for rapid product innovations. Hence, over the years, companies are developing new products in order to meet the rising healthcare needs. For instance, in May 2018, LivaNova initiated a clinical study of its Vitaria neuromodulation implant for treating heart failure. The Vitaria System includes an implantable pulse generator, vagus nerve lead, programming system and patient kit that delivers autonomic regulation therapy that promotes improvements in heart function. Also, the Medtronic in May 2018, announced a clinical study for its newly developed Micra Transcatheter Pacing System with a novel mechanical sensor. The novel mechanical sensor allows patients to benefit from a miniaturized leadless pacemaker. Furthermore, researchers are studying the use of implantable devices for visual loss and developing innovative retinal implants for people with retinal diseases such as retinitis pigmentosa (RP) or age-related macular degeneration (AMD). Thus, the above advancements and owing to growing product innovations is expected to fuel the future growth of this market.

Global pacemakers market was segmented by product type, technology, and end user. The product type segment was further divided as implantable robots and external pacemakers. On the basis of technology, the market is segmented into the single chambered, dual chambered and bi-ventricular. Based on the end user, the pacemakers market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held a major market share among the end user segment owing to the growing increasing number of patient admissions in these facilities across the globe.

Some of the major primary and secondary sources included in the report for the pacemakers market are Centers for Disease control and Prevention (CDC), China Food and Drug Administration (CFDA), Council of Scientific and Industrial Research (CSIR), European Medicines Agency (EMA), Japan Society for the Promotion of Science (JSPS), and others.