North America Cardiac Pacemakers Market – Industry Trends and Forecast to 2029

North America Cardiac Pacemakers Market, By Product (External, Implantable), Technology (Single-chamber, Dual-chamber, Bi-ventricular), End User (Hospitals, ASCs, Clinics)– Industry Trends and Forecast to 2029

Market Analysis and Size

Increasing frequencies of CVDs, growing cost of cardiac disease organization, favorable government policies, and the launch of technologically progressive pacemakers such as the MRI safe pacemakers and leadless pacemakers are mainly driving the growth in the market. The increasing burden of cardiovascular diseases is one of the key issues for the growth of the market.

Data Bridge Market Research analyses that the cardiac pacemakers market which was USD 4.4 billion in 2021, would rocket up to USD 6.65 billion by 2029, and is expected to undergo a CAGR of 5.3% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

 A pacemaker is an electrical device and it is used to treat arrhythmias, which leads to asymmetrical heartbeat. A pacemaker is usually used to help patients suffering from arrhythmias, to lead an active and healthy life style. Implantable cardiac pacemakers have been observing substantial demand due to growing cases of slow heart rhythm and cardiac failures. Furthermore, technological developments such as the development of MRI companionable pacemakers have additional driven the market's growth.

Report Scope and Market Segmentation

North America Cardiac Pacemakers Market Dynamics

Drivers

• Rising incidences of CVDs

The market is primarily driven by the rising rate of cardiac disease management, favorable government regulations, and the introduction of technologically sophisticated pacemakers such as MRI safe pacemakers and leadless pacemakers. One of the major drivers of market expansion is the increased prevalence of cardiovascular disorders.

• Growing prevalence of abnormal cardiac rhythm disorders

Attached with the growing elderly population, which is prone to cardiac arrhythmias, is predictable to drive the global cardiac pacemaker market. Improvements in technology and engineering deliver clinicians’ advanced behaviors to care for the aging population.

Opportunities

The external pacemaker section is expected to show auspicious growth during the forecast period due to the easy formation, enhanced user interface, and better low battery indicator. Since external pacemakers are non-invasive, there is less risk of postsurgical complications. In adding, the devices are beneficial for patients to track and best daily heart functions. Additionally, external pacemakers are the fastest available devices for synchronization of cardiac rhythm, which is also expected to fuel segment growth.

Restraints/Challenges

• Pacemakers are observed as class III high-risk medical devices by the U.S. FDA. Therefore, these devices undergo rigorous safety and effectiveness tests prior to getting endorsement. Problem of obliterate duty of 2.5% on all medical devices is one of the sections that would restrain the growth of the market.
• Furthermore, these devices need to attain a premarket approval, which is an affluent and lengthy process. The limitation would have a low impact due to the fact that safety and efficacy are the two most imperative objects of a builder.
• Profit limits related with fruitful commercialization of a product expressively outweigh the cost factor involved by manufacturers through the clinical trial process.

This North America cardiac pacemakers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America cardiac pacemakers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on North America Cardiac Pacemakers Market

The novel coronavirus had harshly pretentious patients suffering from cardiovascular disease. COVID-19's proliferation had a massive economic impact on the healthcare and medical device industries. COVID-19 has affected 185 nations and over 30,00,000 patients worldwide, according to the American Heart Association's Circulation Journal, 2020. There is a high incidence of CVD in COVID-19 patients. The pacemaker market is growing due to the need for enhanced and minimally invasive activities to improve patient outcomes for various pacemaker implantations. Favorable repayment methods, such as the Medicare system in the United States and the NHS in the United Kingdom, are also contributing to the market's growth.

Recent Development

• In May 2020, the home nursing system by BIOTRONIK offered a cost-effective and harmless remote management of pacemaker patients at the Large Multi-Center Study. This is a important move for routine remote follow-ups amidst COVID-19.
• In January 2020, Medtronic received the U.S. FDA approval for Micra™ AV, the world’s smallest pacemaker with atrioventricular (AV) synchrony.

North America Cardiac Pacemakers Market Scope

The North America cardiac pacemakers market is segmented on the basis of type, price range, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Product

• Implantable Cardiac Pacemakers
• External Cardiac Pacemaker

On the basis of Product, the market is segmented into Implantable Cardiac Pacemakers and External Cardiac Pacemaker.

By Technology

• Single-Chamber Cardiac Pacemakers
• Dual-Chamber Cardiac Pacemakers
•  Others

On the basis of technology, the market is segmented into Single-Chamber Cardiac Pacemakers, Dual-Chamber Cardiac Pacemakers and Others.

By End User

• Hospitals
• Ambulatory Surgery Centers (ASCs)
• Other End User

On the basis of End User, the market is segmented into Hospitals; Ambulatory Surgery Centers (ASCs) and Other End User.

North America Cardiac Pacemakers Market Regional Analysis/Insights

The North America cardiac pacemakers market is analysed and market size insights and trends are provided by country, type, price range, application and end user as referenced above.

The countries covered in the North America cardiac pacemakers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominating the market due to increasing elderly population with cardiac problems, the occurrence of key players, rapid technological advancements such as MRI compatible pacemakers, Bluetooth enabled pacemakers, and refining governing approvals.

Asia Pacific, is expected to show a lucrative CAGR of around 4.8% over the forecast period. This growth of the market in the region is owing to market penetration by the key players, and huge unused chances are driving the growth. Rising frugalities and populations in developing countries including China and India are expected to create considerable chances for the market in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The North America cardiac pacemakers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for North America cardiac pacemakers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the North America cardiac pacemakers market. The data is available for historic period 2010-2020.

Competitive Landscape and North America Cardiac Pacemakers Market Share Analysis

The North America cardiac pacemakers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac pacemakers market.

Some of the major players operating in the cardiac pacemakers market are:

• Zoll Medical Corporation (U.S)
• MicroPort Scientific Corporation (China)
• OSCOR Inc. (U.S)
• Osypka Medical GmbH (Germany)
• Medtronic (Ireland)
• Abbott (US)
• Boston Scientific Corporation (U.S)
• BIOTRONIK (Germany)
• LivaNova (U.K)
• Pacetronix (India)
• MEDICO (U.S)
• Osypka Medical (Germany)
• Lepu Medical Co ltd. (China)