Growth in this market is driven by technological advancements in devices and increasing prevalence of cardiovascular diseases.
According to research report pacemakers market is projected to reach $4.9 billion by 2027, at a CAGR of 2.0%.
The large share of the implantable pacemakers segment is primarily attributed to the increasing prevalence of CVDs and the rising preference for these pacemakers due to their benefits over their external counterparts. The implantable pacemakers segment is projected to be the fastest-growing segment, by implantability, during the forecast period.
This can be attributed to the growing number of patients with implanted pacemakers and the increasing need for MRI scans in the geriatric population, as patients in this age group are more likely to have cardiac devices such as pacemakers. The MRI compatible pacemakers segment is projected to be the fastest-growing segment, by type, during the forecast period.
The major vendors in the global pacemaker market are Medtronic (Ireland), Abbott (US), and Boston Scientific (US), OSCOR (US), Pacetronix (India), MEDICO (Italy), BIOTRONIK (Germany), LivaNova (UK), Osypka Medical (Germany), and Lepu Medical (China).
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