Pacemaker Market – Global Forecasts upto 2024

Overview: A pacemaker is a device used for the regulation of uneven heartbeat. The average rate at which the heart beats is between 60 and 100 per minute. At rest, the heart beats as slow as 40 times a minute, and it beats as fast as 200 times while exercising. Nevertheless, an individual can experience weakness, dizziness, and fainting during slow heartbeats. Ancient cardiac pacemaker devices commonly comprise a hypodermal pulse generator that is placed on the walls of the chest, and transvenous pacing leads are fixed to the myocardial tissue. The primary difficulty associated with these devices is the lead placement as they are weak links in the pacemaker systems. Pneumothorax, trouble in gaining upper extreme venous admittance, and formation of hematoma are few other problems faced. In recent years, small leadless pacemakers have emerged with the capability to reduce these complications associated with the procedure.

Growing aging population, increasing prevalence of cardiovascular diseases, and good reimbursement facilities are few of the factors driving the pacemaker market growth. Increase in healthcare spending, use of electronic health records for monitoring outcomes of pacemakers, and increase in the number of outpatient procedures are providing an opportunity for the growth of the market. However, side effects of pacemakers, alternatives for pacemakers, lack of skilled healthcare professionals, and stringent regulatory approval process will hamper the growth.

Market Analysis: The “Global Pacemaker” market is estimated to witness a CAGR of 7.8% during the forecast period 2018–2024. The pacemaker market is analyzed based on four segments – products, technologies, end-users, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the pacemaker market, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by North America, with the US being the major contributor to the market growth.

Product Analysis: Based on products, the market is segmented into internal pacemakers and external pacemakers. The usage of internal pacemakers is extensive when compared to the external pacemakers, which makes it the largest segment in the global pacemaker market.

Technology Analysis: Based on the technology, the market is segmented into single-chambered, dual-chambered, and biventricular pacemakers. Cardiologists generally recommend the use of single chamber or dual chamber pacemakers bestowing to the medicinal requirement of the patient.

End-user Analysis: Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and cardiac clinics. The hospitals dominated the market in 2017 due to the good reimbursement facilities and availability of skilled professionals.

Key Players: Abbott Laboratories, Inc. (St. Jude Medical, Inc.), BIOTRONIK SE & Co. KG, Medtronic, Boston Scientific Corporation, and MicroPort are the key players of the market. Lepu Medical Technology Co. Ltd., Medico, S.p.A, Osypka Medical GmbH, Sree Pacetronix Ltd., and SORIN Group are the other predominate players in the market.

Competitive Analysis: New product development, geographical expansion, collaboration, mergers & acquisitions, and pricing strategies are vital for players in this space. For instance, in May 2018, MicroPort, a Chinese company acquired the cardiac rhythm management segment of the LivaNova company, which has made MicroPort a prominent player in the market. In January 2017, one of the major players in the market, St. Jude Medical was acquired by Abbott Laboratories for a total of $25 billion. This acquisition has strengthened the Abbott’s position in the cardiovascular segment and increased its market share. The convenience of reimbursement for the pacemaker implantation treatment has lessened the monetary load on patients, thus prompting the procedure rate of such devices. For example, a single chamber pacemaker device costs nearly $10,000, and almost $7,500 is compensated under the US Medicare plan. Reimbursement settlement plans are available in most of the regions, particularly in developed nations such as the UK, the US, and Canada.

Benefits: The report provides complete details about the usage and adoption rate of pacemakers in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives the complete information about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals before investing in this market.

Key Stakeholders:

pacemaker market research

 

1     Industry Outlook 
1.1        Industry Overview
1.2        Patient Demography

1.3        Healthcare Spending in the US

1.4        Total Addressable Market

1.4.1     Cardiac Rhythm Management (CRM)

1.5        Industry Trends

2     Report Outline 

2.1        Report Scope

2.2        Report Summary

2.3        Research Methodology

2.4        Report Assumptions

3     Market Snapshot

3.1        Market Definition – Infoholic Research

3.2        Segmented Addressable Market

3.3        Industry Trends

3.4        Related Markets

3.4.1     Cardiovascular Drugs

3.4.1.1    Trends of cardiovascular drugs market

3.4.2     Aortic Aneurysm

3.4.2.1    Trends of Aortic Aneurysm Market

3.4.3     Coronary Stents Market

3.4.3.1    Trends of Coronary Stents Market

3.4.4     Cardiovascular Diagnostics

4     Market Outlook 

4.1        Reimbursement Scenario

4.2        Market Segmentation

4.3        Porter 5(Five) Forces

4.4        PEST Analysis

5     Market Characteristics

5.1        Market Dynamics

5.1.1     Drivers

5.1.1.1    Increasing prevalence of cardiovascular diseases

5.1.1.2    Increasing Aging Population

5.1.1.3    Good Reimbursement Facilities

5.1.2     Opportunities

5.1.2.1    Increase in healthcare spending

5.1.2.2    Use of Electronic Health Records for Monitoring Outcomes of The Pacemake

5.1.2.3    Increase in the number of outpatient procedures

5.1.3     Restraints

5.1.3.1    Side Effects of Pacemakers

5.1.3.2    Alternative for Pacemakers

5.1.3.3    Lack of skilled healthcare professionals

5.1.3.4    Stringent Regulatory Approval Process

5.2        DRO – Impact Analysis

5.3        Key Stakeholders

6     Product: Market Size and Analysis

6.1        Overview

6.2        External Pacemakers

6.3        Internal Pacemaker

7     Technology: Market Size and Analysis

7.1        Overview

7.2        Single Chamber Pacemaker

7.3        Dual Chamber Pacemaker

7.4        Biventral Pacemaker

8     End-users: Market Size and Analysis

8.1        Overview

8.2        Hospitals and clinics

8.3        Ambulatory Surgical Center

8.3.1.1    US

8.4        Cardiac Centers

9     Regions: Market Size and Analysis

9.1        Overview

9.2        North America

9.2.1     Overview

9.2.2     United States

9.2.3     Canada

9.3        Europe

9.3.1     Overview

9.3.2     UK  60

9.3.3     Germany

9.3.4     France

9.4        Asia Pacific

9.4.1     Overview

9.4.2     India

9.4.3     Japan

9.4.4     China

9.5        Rest of the World

9.5.1     Overview

9.5.2     Brazil

9.5.3     Africa

10   Competitive Landscape 

11   Vendors Profile 

11.1     Medtronic Plc

11.1.1  Overview

11.1.2  Business Units

11.1.3  Geographic Presence

11.1.4  Business Focus

11.1.1  SWOT Analysis

11.1.2  Business Strategies

11.2     Abbott Laboratories

11.2.1  Overview

11.2.2  Business Unit

11.2.3  Geographic Presence

11.2.4  Business Focus

11.2.5  SWOT Analysis

11.2.6  Business Strategy

11.3     Boston Scientific Corp

11.3.1  Overview

11.3.2  Business Units

11.3.3  Geographic Presence

11.3.4  Business Focus

11.3.5  SWOT Analysis

11.3.6  Business Strategies

11.4     Biotronik Inc.

11.4.1  Overview

11.4.2  Business Focus

11.4.3  SWOT Analysis

11.4.4  Business Strategy

11.5     MicroPort Scientific Corporation

11.5.1  Overview

11.5.2  Business Units

11.5.3  Geographic Presence

11.5.4  Business Focus

11.5.5  SWOT Analysis

11.5.6  Business Strategies

12   Vendors Profile 

12.1     Shree Pacetronix Ltd.

12.1.1  Overview

12.2     OSYPKA AG

12.2.1  Overview

12.3     Medico S.p.A..

12.3.1  Overview

12.4     Oscor Inc.

12.4.1  Overview

12.5     Lepu Medical Technology Co. Ltd.

12.5.1  Overview

13   Annexure 

Abbreviations

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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