Implantable Heart Pacemaker Market Scope
An implantable heart pacemaker is a medical device that is surgically inserted into a patient's body. An implantable heart pacemaker regulates heartbeat by sending electrical impulses to the heart muscles. The market is being driven by an increase in the geriatric population and an increase in the number of heart-related disorders. Infections, edoema, bruising, and allergic responses associated with implantable pacemakers, on the other hand, stymie market expansion. Furthermore, technical improvements in enhancing the effectiveness of implantable pacemakers open up a plethora of lucrative potential for key industry participants.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Medtronic (Ireland), Biotronik (Germany), Boston Scientific Corporation (United States), St. Jude Medical (United States), ZOLL Medical Corporation (United States), Medico S.p.A (Italy), Vitatron (The Netherlands), Pacetronix (India), Sorin Group (Italy) and Cordis, Inc (United States) |
CAGR | 20.3% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Implantable Heart Pacemaker market throughout the predicted period.
Medtronic (Ireland), Biotronik (Germany), Boston Scientific Corporation (United States), St. Jude Medical (United States), ZOLL Medical Corporation (United States), Medico S.p.A (Italy), Vitatron (The Netherlands), Pacetronix (India), Sorin Group (Italy) and Cordis, Inc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Abbott (United States) and Cook Medical (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Implantable Heart Pacemaker market by Type , by Application (Heart Block, Sick Sinus Syndrome, Diagnosing Heart Diseases and Others) and Region with country level break-up.
On the basis of geography, the market of Implantable Heart Pacemaker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2021, Boston Scientific Corporation announced its plan to acquire the remote cardiac monitoring developer, Preventice Solutions.
In February 2020, Medtronic PLC received US FDA approval for its Leadless Micra AV, the world’s smallest pacemaker with atrioventricular (AV) synchrony.
Influencing Trend:
Technological Advancements in Improving the Effect of Implantable Pacemaker
Market Growth Drivers:
Rise in Geriatric Population and Increase in the Number of Heart-related Diseases
Challenges:
High Cost of Surgery and Lack of Skilled Professionals
Restraints:
Stringent Regulation and Approvals
Opportunities:
Increasing Innovation and Rise in Investment for Various Public and Private Organizations and Potential Market Growth in Countries with the Highest Rate of Cardiovascular Disorders
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Implantable Heart Pacemaker, Venture Capitalists and Private Equity Firms and End-Use Industry