The Pacemakers Market is segmented, By Application (Arrhythmias [Atrial Fibrillation, Heart Block, Long QT Syndrome], Congestive Heart Failure, Others), By Type (MRI Compatible Pacemakers, Conventional Pacemakers), By Product (Implantable pacemakers [Single Chamber, Dual Chamber, Biventricular Chamber], External pacemakers), By End-use (Hospitals & Cardiac Centers, Ambulatory Surgical Centers, Others), and Region - (North America, Europe, Asia-Pacific, and Rest of the World).

Key Players

Key players operating in the pacemakers market are-

  • Medtronic (Ireland)
  • Abbott Laboratories (US)
  • Boston Scientific (US)
  • Biotronik (Germany)
  • Livanova (UK)
  • Lepu Medical (China)
  • Shree Pacetronix (India)
  • Osypka Medical (Germany)
  • Medico Spa (Italy)
  • Oscor (US).

Market Dynamics

Increasing incidences of Cardiovascular Diseases (CVDs), favorable government policies, the rising cost of cardiac disease management, and the emergence of technologically advanced pacemakers such as leadless pacemakers and MRI safe pacemakers are significantly propelling the market growth. The growing burden of CVDs is one of the key factors spurring product demand. Also, coronary heart disorder is one of the primary reasons for CVD deaths across the globe, which highlights the great need for these devices.

Regional Analysis

The North American market accounted for a revenue share of nearly 40% in 2021 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to its well-established healthcare industry. Also, the presence of key players, the growing elderly population with cardiac problems, rapid technological advancements such as MRI compatible pacemakers and Bluetooth enabled pacemakers, and improving regulatory approvals, further proliferate the regional market growth.

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