Cardiac Pacemaker Market
Global Cardiac Pacemaker Market: Snapshot
By 2030, nearly 20% of the total U.S. population is expected to be made up of geriatrics, according to the U.S. Census Board. This is a huge growth in the number of elderly citizens in this country, and similar cases are being witnessed in most developed economies and a few developing ones as well. This rise in the geriatric population is expected to be the greatest driver for a lot of healthcare industry segments, including the market of cardiac pacemakers.
At the same time, the number of patients with heart complications is increasing significantly due to inculcation of modern lifestyles that can lead to obesity and high stress. Both factors are primarily responsible for the increasing demand for cardiac pacemakers among those younger than 65 years.
However, manufacturers of cardiac pacemakers also have to face problems such as the complex and time consuming approval procedure for sales of cardiac pacemakers due to their high risk nature of use. Additionally, players also have to significantly reduce their profit margins due to the implementation of policies such as the Affordable Healthcare Act in the U.S.
As a result of the given factors, the global revenue generated from cardiac pacemakers is expected to reach US$12.8 bn by the end of 2023, according to Transparency Market Research. In terms of volume, the total number of cardiac pacemakers consumed globally will cross 2.4 mn units.
Asia Pacific Shows High Growth Scope in Cardiac Pacemaker Demand
Based on the current trends in cardiac pacemaker supply and demand chains, Asia Pacific is expected to show the fastest growth rate, ending up with a share in volume of 20.3% by the end of 2023. The key factors responsible for the growth in cardiac pacemaker sales in this region include the growth in awareness of modern pacemakers and the increasing number of heart disease patients across the region.
Europe, however, is expected to retain its leading position for the number of cardiac pacemakers consumed. This region is expected to hold a volume share of 51.1% in 2023 due to a high percentage of the elderly and other heart disease patients. In terms of revenue, North America leads the global market for cardiac pacemakers.
Implantable Pacemakers Most Preferred Type Globally
Almost all of the cardiac pacemakers used in the world today are implantable as there are very few cases where external cardiac pacemakers would be required. Most patients with heart problems require implantable pacemakers. This segment is also expected to show the fastest growth rate for the coming few years due to a high global demand for advanced implantable cardiac pacemakers. The total revenue generated through implantable cardiac pacemakers is expected to reach US$12.5 bn by the end of 2023.
Most of the heart problem indicators point to the need for a permanent pacemaker. These include a complete atrio-ventricular blockage, symptomatic sinus bradycardia, and sick sinus syndrome. Sick sinus syndrome is additionally the most common illness faced by European patients in need of cardiac pacemakers.
The key companies in the cardiac pacemakers market include Medtronic, St. Jude Medical, Boston Scientific, Biotronik, and Sorin. A very small share of the cardiac pacemakers market is taken up by regional players, as the above leader constitute most of the global supply currently.
Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Global Cardiac Pacemakers Market– Industry Analysis
3.1 Introduction
3.2 Market Drivers
3.2.1 Rise in Geriatric Population
3.2.2 Increasing Worldwide Incidence of Cardiovascular Diseases
3.2.3 Technological Advancements
3.3 Market Restraints
3.3.1 Implementation of Affordable Healthcare Act
3.3.2 Strict Regulatory Approval
3.3.3 Rising Cost of Treatment
3.4 Opportunities
3.4.1 High opportunities in emerging economies
3.4.2 Emerging economies to offer sustained growth opportunities
3.5 Porter’s Five Force Analysis of the Global Cardiac Pacemakers Market
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of substitutes
3.5.4 Threat of new entrants
3.5.5 Competitive rivalry
3.6 Market Attractiveness Analysis: Global Cardiac Pacemakers Market, by Geography
3.7 Global Cardiac Pacemaker: Recalls and Replacement Trends
3.8 Competitive Landscape
3.7.1 Market Share Analysis: Global Cardiac Pacemakers Market, 2014 (Value %)
Chapter 4 Global Cardiac Pacemakers Market, by Product Type
4.1 Global Cardiac Pacemaker Market Revenue, by product Type, 2013–2023, (US$ Mn)
4.2 Global Cardiac Pacemaker Market Revenue, By Product Type, 2013–2023 (Unit Volume)
Chapter 5 Global Implantable Cardiac Pacemakers Market, by Technology
5.1 Global Implantable Cardiac Pacemaker Market Revenue, By Technology, 2013–2023, (US$ Mn)
5.2 Global Implantable Cardiac Pacemaker Market Revenue, By Technology, 2013–2023, (Unit Volume)
Chapter 6 Global Cardiac Pacemakers Market, by Geography
6.1 Global Cardiac Pacemaker Market Revenue, by Geography, 2013 – 2023 (USD Mn)
6.2 Global Cardiac Pacemaker Market Revenue, by Geography, 2013 – 2023 (Volume Units)
6.3 North America Cardiac Pacemaker Market Revenue, 2013 - 2023, (USD Mn)
6.4 North America Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.5 Europe Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.6 Europe Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.7 Asia-Pacific Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.8 Asia-Pacific Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.9 Rest of World Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.10 Rest of World Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.11 North America Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.12 North America Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.13 Europe Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.14 Europe Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.15 Asia-Pacific Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.16 Asia-Pacific Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.17 Rest of World Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (US$ Mn)
6.18 Rest of World Implantable Cardiac Pacemaker Market Revenue, 2013 - 2023, (Volume Units)
6.19 North America Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (US$ Mn)
6.20 North America Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (Volume Units)
6.21 Europe Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (US$ Mn)
6.22 Europe Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (Volume Units)
6.23 Asia Pacific Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (US$ Mn)
6.24 Asia Pacific Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (Volume Units)
6.25 Rest of World Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (US$ Mn)
6.26 Rest of World Cardiac Pacemaker Market Revenue, by Country, 2013 – 2023 (Volume Units)
Chapter 7 Recommendations
Chapter 8 Company Profiles
8.1 BIOTRONIK SE & Co. KG
8.1.1 Company Overview
8.1.2 Product Portfolio
8.1.3 Recent Developments
8.2 Boston Scientific Corporation
8.2.1 Company Overview
8.2.2 Financial Overview
8.2.3 Product Portfolio
8.2.4 Recent Developments
8.3 Cook Medical Inc.
8.3.1 Company Profile
8.3.3 Product Portfolio
8.3.3 Recent Developments
8.4 MEDICO S.p.A.
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Recent Developments
8.5 Medtronic
8.5.1 Company Overview
8.5.2 Financial Overview
8.5.3 Product Portfolio
8.5.4 Recent Developments
8.6 SORIN S.p.A.
8.6.1 Company Overview
8.6.2 Financial Overview
8.6.3 Product Portfolio
8.6.4 Recent Developments
8.7 St. Jude Medical, Inc.
8.7.1 Company Overview
8.7.2 Financial Overview
8.7.3 Product Portfolio
8.7.4 Recent Developments
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