The global Cardiac Pacemaker Market Growth Accelerated by Technological Innovations

 

Cardiac pacemakers are implantable medical devices that are used to regulate abnormal heart rhythms by means of electrical impulses. Cardiac pacemakers have various advantages like less invasive implantation process and longer battery lifespan. These devices are increasingly needed for treating patients with arrhythmias and conduction disorders.

The global Cardiac Pacemaker Market is estimated to be valued at US$ 4,547.8 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological innovations is one of the key trends driving the growth of the cardiac pacemaker market. Major players in the market are focusing on developing innovative pacemaker devices equipped with advanced features. For instance, Medtronic has developed Micra Transcatheter Pacing System, world's smallest pacemaker which is roughly the size of a large vitamin. It does not require leads and can be implanted directly into the heart via catheter, reducing surgical risks and recovery time significantly compared to traditional pacemakers. Similarly, Abbott has launched Confirm Rx pacemaker that uses MRI conditional technology allowing patients to undergo MRI scans with the device implanted. Such innovations are improving treatment outcomes and patient satisfaction, thereby accelerating the demand for cardiac pacemakers.
Segment Analysis
The global cardiac pacemaker market is dominated by implantable pacemakers segment. Implantable pacemakers are small medical devices placed inside the body to regulate abnormal heart rhythms by delivering electrical pulses or pacing to the heart. These devices are mostly preferred over external pacemakers due to their convenience and comfort of use.

Key Takeaways
The global cardiac pacemaker market is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 3.3% during this period and reach a value of US$ 4,547.8 Mn by 2023.

Regional analysis
North America currently dominates the global cardiac pacemaker market and is anticipated to maintain its leading position over the forecast period as well. The presence of major playerssuch as Medtronic and Boston Scientific Corporation in the region along with higher adoption and accessibility of advanced cardiac devices are some key factors responsible for North America's large share.

Key players
Key players operating in the cardiac pacemaker market are Medtronic, Boston Scientific Corporation, Abbott, BIOTRONIK SE & Co. KG, Pacetronix, Lepu Medical Technology(Beijing)Co., Ltd., LIVANOVA PLC, MEDICO S.R.L., OSCOR Inc., MicroPort Scientific Corporation, OSYPKA MEDICAL, and Vitatron Holding B.V. Medtronic and Boston Scientific Corporation capture substantial market share due to their diverse portfolio and strong global presence.

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