External Pacemaker Market Segmentation by Product (Pulse Generator Device, and Leads); by Device (Single, Dual, and Triple Chamber); by Distribution Channel (Online, and Offline); and by End User (Hospitals, Ambulatory Surgical Centers, and Others)-Global Demand Analysis & Opportunity Outlook 2018-2028

Global External Pacemaker Market Highlights Over 2018 - 2028

The global external pacemaker market is estimated to garner a revenue of USD 1809.94 Million by the end of 2028 by growing at a CAGR of 7.22% over the forecast period, i.e., 2021 – 2028. Moreover, in the year 2018, the market registered a revenue of USD 899.15 Million. The growth of the market can be attributed to growing research and development activities in the field of medical science which is resulting in the development of advanced life-saving medical equipment. Earlier, the pacemakers were large in size and also were bulky as compared to the pacemakers that are available in the market today. Over the years, with the advancements in technology, medical equipment organizations have introduced sophisticated pacemakers that are easy to manage and also have longer lifespan. The pacemakers of modern era also require less time for setting up the device and the pacing is done with the help of a computer software. Besides this, the growing prevalence of cardiovascular diseases worldwide is expected to possess a significant opportunity to boost the market growth in the coming years. According to the statistics by the World Health Organization (WHO), in the year 2019, around 17.9 Million people died from cardiovascular diseases (CVDs). Moreover, in the same year, out of the 17 Million premature deaths due to noncommunicable diseases, 38% of the deaths were caused by cardiovascular diseases. Moreover, increasing healthcare expenditure worldwide is also expected to accelerate the market growth remarkably during the forecast period. According to the statistics by the World Bank, the current health expenditure around the globe as a share of GDP increased from 9.431% in the year 2012 to 9.856% in the year 2018.

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Global External Pacemaker Market Regional Synopsis

Regionally, the global external pacemaker market is segmented into six major regions including North America, Europe (excluding Western Europe), Western Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 708.78 Million by the end of 2028, up from a revenue of USD 346.22 Million in the year 2018. The growth of the market in the region can primarily be attributed to the growing awareness for the treatment of cardiovascular diseases, backed by the surge in prevalence of the disease, along with the presence of a strong healthcare network in the region, especially in the United States. According to the statistics by the Centers for Disease Control and Prevention (CDC), in the United States, around 659000 people die from heart disease every year. This represents 1 in every 4 deaths in the nation. Moreover, between 2016 and 2017, around USD 363 Billion was the cost of heart disease in the nation each year.

On the other hand, the market in Western Europe is anticipated to garner the second-largest revenue of USD 472.50 Million by the end of 2028, up from a revenue of USD 239.74 Million in the year 2018. The market in the region is further segmented by country into United Kingdom, Germany, France, Italy, Spain, Denmark, Portugal, and the Rest of Western Europe. Out of these, the market in Germany is anticipated to garner the largest revenue of USD 44.47 Million by the end of 2028, up from a revenue of USD 23.47 Million in the year 2018.

Growth Drivers and Challenges Impacting the Growth of the Global External Pacemaker Market

Growth Drivers

• Growing Prevalence of Cardiovascular Diseases

• Increasing Healthcare Expenditure

• Growing Research & Development Activities

Challenges

• High Cost of the Product

• Numerous Instances of Failure in the Functioning of the Product

Global External Pacemaker Market Segmentation Synopsis

The global external pacemaker market is segmented by product into pulse generator device, and leads, out of which, the leads segment is projected to grow with the highest CAGR of 8.02% during the forecast period. By device, the market is segmented into single chamber, dual chamber, and triple chamber. Out of these, the dual chamber segment is anticipated to garner the largest revenue of USD 1099.92 Million by the end of 2028, up from a revenue of USD 529.84 Million in the year 2018. By distribution channel, the market is segmented into online and offline. Out of these, the online segment is anticipated to grow with the highest CAGR of 7.86% during the forecast period. By end-user, the market is segmented into hospitals, ambulatory surgical centers, and others. Out of these, the ambulatory surgical centers segment is anticipated to generate the largest revenue of USD 1276.54 Million by the end of 2028, up from a revenue of USD 639.74 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global external pacemaker market that are included in our report are Biotronik SE & Co. KG, Medtronic PLC, Osypka Medical GmbH, Braile Biomedica, Boston Scientific Corporation, OSCOR Inc., Galix Biomedical Instrumentation, Shree Pacetronix Ltd., and others.

Latest Developments in the Global External Pacemaker Market:

• January 21^st, 2020: Medtronic PLC announced that it has received an approval from the U.S. Food and Drug Administration (FDA) for its smallest pacemaker in the world, Micra AV.

• December 2^nd, 2021: Boston Scientific Corporation announced that it has initiated the trial to evaluate the effectiveness, performance and safety of the mCRM Modular Therapy System, which includes two cardiac rhythm management (CRM) devices, namely EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD) System and the EMPOWER Modular Pacing System (MPS), intended to work together to coordinate therapy.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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