Pacemakers (Global Market)

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Pacemakers (Russian market)

Main article: Pacemakers (Russian market)

2023: Worldwide pacemaker sales rise to $3.63 billion for the year

The global pacemaker market reached $3.63 billion in 2023. The demand for such devices is growing due to the increase in the number of cases of cardiovascular diseases and technological advances. This is stated in a study by Market Research Future, the results of which were published at the end of September 2024.

The authors of the report highlight several key factors that contribute to increased sales of pacemakers. According to the World Health Organization (WHO), cardiovascular disease is the leading cause of death in the world. Specialized medical devices, in particular pacemakers, are required to treat some of these ailments. The increase in the supply of such products is due to increased health care costs and the wider use of modern medical services. Pacemakers allow patients with arrhythmias to lead active and healthy lives. In addition, thanks to technological improvements, the functionality of pacemakers is expanding: for example, analysts are talking about the emergence of new generation devices compatible with magnetic resonance imaging (MRI). Other improvements include extended battery life and wireless remote monitoring systems that monitor patient readings and health.

By type, the products used are divided into implantable and external pacemakers: the former dominate the global market. At the same time, devices compatible with MRI provided the largest revenue in 2022. Among the leading players in the industry are named,, Medtronic,, Abbott Laboratories, Boston Scientific Biotronik Lepu Livanova Medical, Shree Pacetronix, Osypka Medical, Medico Spa, Oscor. Large companies spend heavily on R&D to expand their product portfolio and improve device capabilities. One of the main business strategies used by manufacturers is the organization of local production of products to reduce operating costs.

Geographically, the dominant market is North America. This is due to an aging population, and therefore an increase in the number of people with heart problems. In addition, many large players are concentrated in this region, thanks to which the development of technology is accelerated. The European pacemaker market holds the second largest share due to increasing prevalence of heart disease, as well as due to technological developments in medical instruments. At the same time, in the Asia-Pacific region, the highest growth rates are recorded, which is associated with significant development potential. Building a robust health infrastructure to detect and treat cardiovascular diseases is increasingly a priority for these countries.

Restraining factors are the low level of awareness of cardiovascular diseases in developing and undeveloped countries, the high cost of therapy and the increase in the number of recall campaigns of products due to a malfunction. Faster market expansion is also hampered by possible postoperative complications associated with pacemaker installation.

Nevertheless, analysts believe that in the future the industry will show positive dynamics. The CAGR (compound percentage CAGR) is expected to be 3.12%. As a result, by 2032, the volume of the global pacemaker market will rise to $4.81 billion.^[1]

2016: Market size - $8 billion

In November 2017, Stratistics MRC, an analytical company, published the results of a study of the global pacemaker market. Experts expect a twofold increase in sales of this medical device in seven years.

According to Stratistics MRC estimates, in 2016, the total revenue of manufacturers from the sale of pacemakers reached $8.01 billion. By 2023, it will reach almost $15 billion, and the average annual growth rate of the market, thus, will be measured at about 9.3%.

Кардиостимулятор Medtronic

Experts say that one of the main catalysts for the growth of the pacemaker market is the increasing prevalence of cardiovascular diseases. According to the World Health Organization (WHO), released in 2017, 17.7 million people die from such diseases annually in the world, which corresponds to about one third of deaths on a global scale.

The market is fueled by the manufacturers themselves, who are constantly improving pacemakers, including materials and software. By the end of 2017, more such devices use contactless charging, lack antennas and contain fewer ferromagnetic components, making them suitable for magnetic resonance imaging.

Miniature models appear implanted directly into the heart, and biological pacemakers that contain heart cells (or their likeness) extracted from embryonic stem cells or mesenchymal stem cells are also investigated.

At the end of 2016, the following companies were the largest manufacturers of pacemakers (listed in alphabetical order):

• Abbott Laboratories;
• BIOTRONIK SE & Co;
• Boston Scientific;
• Cook Medical;
• Cordis;
• Lepu Medical Technology;
• LivaNova;
• Medico;
• Medtronic;
• Osypka Medical;
• Pacetronix;
• SORIN Group;
• [1]St. Jude Medical;
• USCOME;
• Vitatron;
• Zoll Medical Corporation.^[2]

Notes