Implantable Pacemaker Market To Reach $3.8 Billion By 2030

Implantable Pacemaker Market Growth & Trends

The global implantable pacemaker market size is anticipated to reach USD 3.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a lucrative CAGR of 3.7% from 2023 to 2030 owing to various factors such as technological advancements and the increasing prevalence of cardiovascular devices. Furthermore, the growing sedentary lifestyle coupled with the rising geriatric population is also anticipated to fuel the market growth during the projected period.

The increasing prevalence of cardiovascular diseases is a key growth driver for the market. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure. As per the British Heart Foundation Centre, nearly 7.6 million individuals are living with circulatory and heart diseases in the UK. Also, nearly 100,000 hospital admissions each year owing to heart attacks in the UK. To curb the rising prevalence of CVDs, government bodies, and key market players are channeling revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.

Technological developments are quickly renovating the pacemaker market. Heart disease is the major cause of death in recent years. According to World Health Organization (WHO) estimates, each year cardiovascular diseases (CVDs) result in around 17.9 million mortalities. CVDs are normally identified as a silent epidemic as they are slow to show symptoms. Moreover, they are projected to be one of the most expensive health conditions to treat. Thus, an increase in the usage of implantable pacemakers in cardiovascular diseases boosts the growth of the market.

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Implantable Pacemaker Market Report Highlights

• Based on product, the market is classified into single chamber, dual chamber, and biventricular chamber. Dual chamber segment held the largest revenue share of 38.9% of the market in 2022, due to the increase in demand for dual chamber implantable pacemakers

• Based on application, the market is categorized into arrhythmias, congestive heart failure, and others. The arrhythmias segment accounted for the largest share of the market in 2022 owing to the rise in prevalence of cardiac arrhythmia

• The end-use segment is divided into hospitals and outpatient facilities. The hospitals segment accounted for the largest share of the market in 2022 owing to the high number of surgeries performed in hospitals and the availability of skilled professionals

• The North American region is expected to dominate the market and hold the largest revenue share of over 40.2% in 2022, owing to the increasing incidence of cardiovascular diseases and a large patient population

• Asia Pacific is estimated to grow at the fastest rate during the forecast period due to the increasing investment in healthcare infrastructure in recent years, particularly in emerging economies such as China and India

Implantable Pacemaker Market Segmentation

Grand View Research has segmented the implantable pacemaker market based on product, application, end-use, and region:

Implantable Pacemaker Product Outlook (Revenue, USD Million, 2018 - 2030)

• Single Chamber

• Dual Chamber

• Biventricular Chamber

Implantable Pacemaker Application Outlook (Revenue, USD Million; 2018- 2030)

• Arrhythmias

• Atrial Fibrillation

• Heart Block

• Long QT Syndrome

• Congestive Heart Failure

• Others

Implantable Pacemaker End-use (Revenue, USD Million; 2018- 2030)

• Hospitals

• Outpatient Facilities

Implantable Pacemaker Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Europe

• Germany

• UK

• France

• Italy

• Spain

• Denmark

• Sweden

• Norway

• Asia Pacific

• China

• India

• Japan

• Australia

• Thailand

• South Korea

• Latin America

• Brazil

• Mexico

• Argentina

• MEA

• South Africa

• Saudi Arabia

• UAE

• Kuwait

List of Key Players of the Implantable Pacemaker Market

• Boston Scientific Corporation

• Zoll Medical Corporation

• Medtronic

• BIOTRONIK

• MicroPort Scientific Corporation

• Cook

• MEDICO SpA

• Pacetronix

• Abbott

• Osypka Medical GmbH