PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423668
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423668
External Pacemaker Market Forecasts to 2030 - Global Analysis By Device (Single Chamber and Dual Chamber), By Application (Acute Myocardial Infarction, Bradycardia, Heart Block and Other Applications), End User and By Geography
According to Stratistics MRC, the Global External Pacemaker Market is accounted for $1.76 billion in 2023 and is expected to reach $2.54 billion by 2030 growing at a CAGR of 5.4% during the forecast period. An external pacemaker is a medical device designed to regulate heart rhythm by delivering electrical impulses externally. It consists of electrodes connected to an external generator that emits controlled electrical signals. This device is placed on the patient's chest and transmits electrical pulses to the heart, addressing abnormal heart rhythms like bradycardia or other conduction abnormalities until a permanent solution is implemented.
According to the Centers for Disease Control and Prevention (CDC), approximately every 40 seconds an American will have a heart attack. Every year, 805,000 Americans have a heart attack, 605,000 of them for the first time.
Market Dynamics:
Driver:
Growing geriatric population
Elderly individuals commonly experience heart rhythm abnormalities like bradycardia or heart block. As the ageing demographic expands, there's a higher prevalence of cardiac conditions necessitating pacemaker intervention. External pacemakers serve as temporary solutions in these cases, providing immediate cardiac support while patients await permanent implantation or temporary measure post-cardiac procedures. Additionally, the rising ageing population worldwide directly correlates with an increased demand for external pacemakers, fostering market growth.
Restraint:
High cost of pacemakers
These devices are crucial for cardiac management, but they involve substantial expenses for both procurement and maintenance. The sophisticated technology, materials, and manufacturing processes contribute to elevated prices. Additionally, healthcare budget constraints and limited insurance coverage in certain regions create financial barriers, hindering patient access to these life-saving devices, which limits their accessibility to a broader population.
Opportunity:
Increasing disposable income in emerging economies
Due to the rise in income levels, emerging economies can afford advanced healthcare services and devices, including pacemakers. This leads to a higher demand for cardiac care and better access to expensive medical technologies. Improved affordability allows a larger segment of the population to opt for pacemaker implantations or treatments, boosting market growth. Moreover, increased healthcare spending and better insurance coverage contribute to expanded adoption rates, creating a favourable market landscape in these economies.
Threat:
Competition from alternative therapies
Alternative treatments like medication, lifestyle changes, or other non-invasive cardiac interventions present alternatives to pacemaker implantation. For certain cardiac conditions, patients might opt for alternative therapies before considering a pacemaker due to concerns about surgery, device dependency, or cost. Moreover, advancements in non-invasive procedures and research into alternative treatments offer viable options, potentially reducing the immediate need for pacemakers.
Covid-19 Impact:
The COVID-19 pandemic had a substantial impact on the external pacemaker market. Disruptions in healthcare services, elective procedures, and hospital visits led to deferred non-emergency treatments, including pacemaker implantations. Supply chain disruptions and the prioritisation of resources for pandemic-related care affected device availability. Patient reluctance to seek medical care and hospitalisations also contributed to reduced pacemaker procedures, resulting in a temporary decline in market growth.
The hospitals segment is expected to be the largest during the forecast period
During the forecast period, the hospitals segment is poised to dominate. Hospitals serve as primary centres for cardiac care, equipped with specialised infrastructure and skilled healthcare professionals capable of diagnosing and treating complex cardiac conditions requiring external pacemakers. Additionally, these facilities often witness a high influx of patients requiring immediate cardiac interventions, making them primary hubs for pacemaker implantations and management. The comprehensive healthcare services and specialised cardiology departments in hospitals solidify their position as the largest contributors to the external pacemaker market.
The heart block segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the heart block segment is anticipated to experience a lucrative growth rate. This is attributed to the increasing prevalence of heart block conditions, where the heart's electrical signals are delayed or obstructed. External pacemakers serve as essential temporary solutions for regulating the heart's rhythm in such cases, contributing to their heightened demand. Additionally, advancements in technology and a growing awareness of cardiac health are expected to drive the adoption of external pacemakers for heart block management, fueling the segment's rapid growth.
Region with largest share:
North America is positioned to secure the largest market share in the external pacemaker market owing to its advanced healthcare infrastructure, high prevalence of cardiac disorders, and substantial healthcare expenditure. Additionally, the presence of key market players and extensive research and development activities contribute to market dominance. Furthermore, increasing initiatives for technological advancements in cardiac care and a proactive approach to adopting innovative medical solutions reinforce North America's prominence in the external pacemaker market.
Region with highest CAGR:
The Asia-Pacific region is poised for significant growth in the external pacemaker market due to the region's rising prevalence of cardiac disorders and an expanding geriatric population. Additionally, improving healthcare infrastructure, growing awareness about advanced medical treatments, and rising disposable incomes contribute to higher adoption rates of external pacemakers. Moreover, collaborations with international medical device manufacturers and supportive government initiatives further drive market expansion, indicating substantial growth prospects for the Asia-Pacific External Pacemaker market.
Key players in the market
Some of the key players in External Pacemaker Market include Abbott Laboratories, Biotronik, Boston Scientific Corporation, Cardiac Science Corporation, Cook Medical, Galix Biomedical Instrumentation, LivaNova Plc, Medtronic, Osypka Medical GmbH, Reka Health Pte Ltd., Schiller AG, Shree Pacetronix Ltd., Spacelabs Healthcare and ZOLL Medical Corporation.
Key Developments:
In December 2023, Medtronic plc, a global leader in healthcare technology, announces that it has entered into a definitive agreement to expand its partnership with Cosmo Intelligent Medical Devices, a subsidiary of Cosmo Pharmaceuticals. This AI-driven partnership will further capitalize on the achievements already realized with the GI Genius™ intelligent endoscopy module, offering continued innovation and scalable healthcare advancements for patients and caregivers globally.
In November 2023, Boston Scientific Corporation announced the close of its acquisition of Relievant Medsystems Inc., a company that offers the only U.S. Food and Drug Administration-cleared Intracept® Intraosseous Nerve Ablation System, a therapy to treat vertebrogenic pain that is a form of chronic low back pain. The Intracept system, a basivertebral nerve ablation therapy, will be an addition to the Boston Scientific chronic pain portfolio that includes spinal cord stimulation, radiofrequency ablation and an interspinous spacer procedure.
In July 2023, Abbott announced that the U.S. Food and Drug Administration (FDA) has approved the AVEIR™ dual chamber (DR) leadless pacemaker system, the world's first dual chamber leadless pacing system that treats people with abnormal or slow heart rhythms. With more than 80% of people who need a pacemaker requiring pacing in two chambers of the heart (both the right atrium and right ventricle), the approval significantly increases access to leadless pacing for millions of people across the U.S.
Devices Covered:
- Single Chamber
- Dual Chamber
Applications Covered:
- Acute Myocardial Infarction
- Bradycardia
- Heart Block
- Post-Operative Care
- Tachycardia
- Other Applications
End Users Covered:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Home Healthcare
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global External Pacemaker Market, By Device
- 5.1 Introduction
- 5.2 Single Chamber
- 5.3 Dual Chamber
6 Global External Pacemaker Market, By Application
- 6.1 Introduction
- 6.2 Acute Myocardial Infarction
- 6.3 Bradycardia
- 6.4 Heart Block
- 6.5 Post-Operative Care
- 6.6 Tachycardia
- 6.7 Other Applications
7 Global External Pacemaker Market, By End User
- 7.1 Introduction
- 7.2 Hospitals
- 7.3 Ambulatory Surgical Centers
- 7.4 Clinics
- 7.5 Home Healthcare
- 7.6 Other End Users
8 Global External Pacemaker Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Abbott Laboratories
- 10.2 Biotronik
- 10.3 Boston Scientific Corporation
- 10.4 Cardiac Science Corporation
- 10.5 Cook Medical
- 10.6 Galix Biomedical Instrumentation
- 10.7 LivaNova Plc
- 10.8 Medtronic
- 10.9 Osypka Medical GmbH
- 10.10 Reka Health Pte Ltd.
- 10.11 Schiller AG
- 10.12 Shree Pacetronix Ltd.
- 10.13 Spacelabs Healthcare
- 10.14 ZOLL Medical Corporation
List of Tables
- Table 1 Global External Pacemaker Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 3 Global External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 4 Global External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 5 Global External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 6 Global External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 7 Global External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 8 Global External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 9 Global External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 10 Global External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 11 Global External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 12 Global External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 13 Global External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 14 Global External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 15 Global External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 16 Global External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 17 Global External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 18 North America External Pacemaker Market Outlook, By Country (2021-2030) ($MN)
- Table 19 North America External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 20 North America External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 21 North America External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 22 North America External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 23 North America External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 24 North America External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 25 North America External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 26 North America External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 27 North America External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 28 North America External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 29 North America External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 30 North America External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 31 North America External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 32 North America External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 33 North America External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 34 North America External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 35 Europe External Pacemaker Market Outlook, By Country (2021-2030) ($MN)
- Table 36 Europe External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 37 Europe External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 38 Europe External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 39 Europe External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 40 Europe External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 41 Europe External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 42 Europe External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 43 Europe External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 44 Europe External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 45 Europe External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 46 Europe External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 47 Europe External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 48 Europe External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 49 Europe External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 50 Europe External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 51 Europe External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 52 Asia Pacific External Pacemaker Market Outlook, By Country (2021-2030) ($MN)
- Table 53 Asia Pacific External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 54 Asia Pacific External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 55 Asia Pacific External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 56 Asia Pacific External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 57 Asia Pacific External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 58 Asia Pacific External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 59 Asia Pacific External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 60 Asia Pacific External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 61 Asia Pacific External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 62 Asia Pacific External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 63 Asia Pacific External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 64 Asia Pacific External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 65 Asia Pacific External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 66 Asia Pacific External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 67 Asia Pacific External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 68 Asia Pacific External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 69 South America External Pacemaker Market Outlook, By Country (2021-2030) ($MN)
- Table 70 South America External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 71 South America External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 72 South America External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 73 South America External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 74 South America External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 75 South America External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 76 South America External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 77 South America External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 78 South America External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 79 South America External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 80 South America External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 81 South America External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 82 South America External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 83 South America External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 84 South America External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 85 South America External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 86 Middle East & Africa External Pacemaker Market Outlook, By Country (2021-2030) ($MN)
- Table 87 Middle East & Africa External Pacemaker Market Outlook, By Device (2021-2030) ($MN)
- Table 88 Middle East & Africa External Pacemaker Market Outlook, By Single Chamber (2021-2030) ($MN)
- Table 89 Middle East & Africa External Pacemaker Market Outlook, By Dual Chamber (2021-2030) ($MN)
- Table 90 Middle East & Africa External Pacemaker Market Outlook, By Application (2021-2030) ($MN)
- Table 91 Middle East & Africa External Pacemaker Market Outlook, By Acute Myocardial Infarction (2021-2030) ($MN)
- Table 92 Middle East & Africa External Pacemaker Market Outlook, By Bradycardia (2021-2030) ($MN)
- Table 93 Middle East & Africa External Pacemaker Market Outlook, By Heart Block (2021-2030) ($MN)
- Table 94 Middle East & Africa External Pacemaker Market Outlook, By Post-Operative Care (2021-2030) ($MN)
- Table 95 Middle East & Africa External Pacemaker Market Outlook, By Tachycardia (2021-2030) ($MN)
- Table 96 Middle East & Africa External Pacemaker Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 97 Middle East & Africa External Pacemaker Market Outlook, By End User (2021-2030) ($MN)
- Table 98 Middle East & Africa External Pacemaker Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 99 Middle East & Africa External Pacemaker Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
- Table 100 Middle East & Africa External Pacemaker Market Outlook, By Clinics (2021-2030) ($MN)
- Table 101 Middle East & Africa External Pacemaker Market Outlook, By Home Healthcare (2021-2030) ($MN)
- Table 102 Middle East & Africa External Pacemaker Market Outlook, By Other End Users (2021-2030) ($MN)
