Global Cardiac Pacemaker Market to Surpass US$ 11.1 Billion by 2026

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Aug 08, 2019, 10:43 ET

SEATTLE, Aug. 8, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global cardiac pacemaker market was valued at US$ 5,972.2 million in 2017, and is projected to exhibit a CAGR of 7.3% during the forecast period (2018 – 2026).

Key Trends and Analysis of the Global Cardiac Pacemaker Market:

Technologically advanced pacemakers such as MRI safe-pacemakers, pacemakers with improved battery life, and such technological advancements are expected to result in improved health outcomes for patients with Atrial Fibrillation (AF) in patients suffering from bradycardia. Moreover, wireless automated technology adoption of wireless automated technology by market players is expected to drive the market growth of cardiac pacemakers market. For instance, in February 2017, Abbott received the Food and Drug Administration (FDA) approval for MR-conditional labeling for the Assurity MRI pacemaker and the Tendril MRI pacing lead.

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Moreover, key manufacturers are focused on launching more compact and efficient technologies that assist pacemaker devices for better outcomes, which allow better control over abnormal heart rhythm, as well as additional specifications such as blood temperature monitoring and breathing rate monitoring. For instance, in May 2016, Biotronik launched a portable monitoring device called 'CardioMessenger Smart' in the U.S. This system is about the size of a modern smartphone used to keep pacemaker, Implantable Cardioverter Defibrillator (ICD) and Insertable Cardiac Monitor (ICM) patients connected to their physician remotely.

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Thus, increasing number of product developments and innovations are expected to improve patient outcomes, and drive demand for cardiac pacemakers over the forecast period.

Among regions, North America is expected to dominate the global cardiac pacemaker market, owing to rising prevalence of heart disease and technological advancements by market players in the region. Moreover, factors such as improved healthcare facilities and better reimbursement scenario are also driving growth of the cardiac pacemakers market in North America. In March 2017, Medtronic Plc issued Medicare reimbursement for the first leadless cardiac pacemaker Mica Trans catheter Pacing System (TPS), which is available in the U.S.

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Key Market Takeaways:

The global cardiac pacemaker market is projected to witness a CAGR of 7.3% during the forecast period (2018 – 2026), owing to increasing number of product approvals from regulatory authorities. For instance, in April 2016, the U.S. Food and Drug Administration approved the first pacemaker, Micra Transcatheter Pacing System, developed by Medtronic Plc.
Among regions, Europe is expected to exhibit significant growth in the cardiac pacemaker market, owing to increasing number of product approvals in the region. For instance, in February 2017, Medtronic Plc. received the CE marking for a suite of quadripolar cardiac resynchronization therapy pacemakers (CRT-Ps) that also allow patients to receive MRI (magnetic resonance imaging) scans.
Major players operating in the global cardiac pacemaker market include Medtronic Plc., Boston Scientific Corporation, Abbott Vascular Inc., Edwards LifeScience Corporation, Thoractec Corporation, Syncardia systems, Inc., Biotronik, B. Braun Melsungen AG, and LivaNova PLC.

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Report Segmentation:

Global Cardiac Pacemaker Market, By Product Type:

Single Chambered
Dual Chambered
Biventricular
Implantable Cardiac Pacemaker
External Cardiac Pacemaker

Global Cardiac Pacemaker Market, By End User:

Hospitals
Ambulatory Surgical Centers

Global Cardiac Pacemaker Market, By Region:

North America Cardiac Pacemaker Market

By Country:

U.S.
Canada

Europe Cardiac Pacemaker Market

By Country:

U.K.
Germany
Italy
Spain
France
Russia
Rest of Europe

Asia Pacific Cardiac Pacemaker Market

By Country:

Australia
India
China
Japan
ASEAN
South Korea
Rest of Asia Pacific

Latin America Cardiac Pacemaker Market

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East Cardiac Pacemaker Market

By Country:

GCC
Israel
Rest of Middle East

Africa Cardiac Pacemaker Market

By Country:

South Africa
Central Africa
North Africa

Company Profiles

Medtronic Plc*
BIOTRONIK, Inc.
Boston Scientific Corporation
Abbott Laboratories
Vitatron Holding B.V.
Shree Pacetronix Ltd.
MEDICO S.p.A.
Lepu Medical Technology Co Ltd.
LivaNova PLC
Qinming Medical
Cordis Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr. Raj Shah
Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

SOURCE Coherent Market Insights