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External Pacemaker Market Size & Share, By Product (Single Chamber, Dual Chamber), Application (Bradycardia, Acute Myocardial Infarction), End-user (Hospitals, Ambulatory Surgical Centers, Others), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 5479

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Published Date: Aug-2024

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Format : PDF, Excel

Market Outlook:

External Pacemaker Market exceeded USD 1.79 Billion in 2023 and is poised to cross USD 2.44 Billion by end of the year 2032, growing at over 3.5% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 1.79 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

3.5%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 2.44 Billion

19-23 x.x %
24-32 x.x %
External Pacemaker Market

Historical Data Period

2019-2023

External Pacemaker Market

Largest Region

North America

External Pacemaker Market

Forecast Period

2024-2032

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Market Dynamics:

Growth Drivers & Opportunity:

The External Pacemaker Market is expected to experience significant growth due to the increasing prevalence of cardiovascular diseases worldwide. The rising geriatric population and the growing adoption of unhealthy lifestyles are contributing to the high incidence of heart-related conditions, driving the demand for external pacemakers.

Another major growth driver for the External Pacemaker Market is the continuous technological advancements in the field of cardiac care. Manufacturers are focusing on developing innovative and user-friendly external pacemakers that offer better patient outcomes and improved quality of life. The introduction of wireless and remote monitoring capabilities is further fueling market growth.

The growing awareness about the importance of early diagnosis and treatment of cardiac disorders is also propelling the demand for external pacemakers. Increased efforts towards preventive healthcare and the availability of advanced diagnostic tools are encouraging patients to seek timely medical interventions, thereby boosting the market for external pacemakers.

Report Scope

Report CoverageDetails
Segments CoveredProduct, Application, End-user
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledBoston Scientific, Medtronic, Pacetronix.com, OSYPKA MEDICAL, OSCOR, Fluke, Abbott, Avery Biomedical Devices,, BIOTRONIK, Lepu Medical Technology

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Industry Restraints:

Despite the positive growth prospects, the External Pacemaker Market is facing challenges related to high costs associated with the devices and procedures. External pacemakers can be expensive, and the lack of insurance coverage in certain regions limits access to these life-saving devices, particularly for low-income patients.

Another major restraint for the External Pacemaker Market is the stringent regulatory guidelines governing the approval and commercialization of medical devices. The complex regulatory landscape and the lengthy approval process can delay market entry for new external pacemaker products, hindering market growth potential in some regions.

Regional Forecast:

External Pacemaker Market

Largest Region

North America

74% Market Share in 2023

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North America:

The external pacemaker market in North America is expected to witness significant growth due to the presence of well-established healthcare infrastructure, increasing prevalence of heart diseases, and growing adoption of advanced medical technologies. The United States is anticipated to dominate the market in this region, followed by Canada. The increasing geriatric population and rising healthcare expenditure are factors contributing to the market growth in North America.

Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea are expected to drive the growth of the external pacemaker market. The increasing focus on improving healthcare facilities, rising awareness about cardiovascular diseases, and the growing elderly population are factors fueling market growth in this region. China is projected to emerge as a key market for external pacemakers due to its large population base and rising incidence of heart ailments.

Europe:

The external pacemaker market in Europe is primarily driven by countries like the United Kingdom, Germany, and France. These countries have well-established healthcare systems, high adoption of advanced medical technologies, and increasing prevalence of cardiac disorders. The presence of key market players and supportive government initiatives for improving cardiac care are expected to boost the market growth in Europe.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
External Pacemaker Market
External Pacemaker Market

Segmentation Analysis:

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In terms of segmentation, the global External Pacemaker market is analyzed on the basis of Product, Application, End-user.

External Pacemaker Market:

Product:

Single Chamber: The single chamber external pacemakers segment is anticipated to witness significant growth due to the increasing prevalence of bradycardia and the rising adoption of single chamber pacemakers for its treatment.

Dual Chamber: The dual chamber external pacemakers segment is expected to register a steady growth rate owing to the advantages of better synchronization between the chambers and improved patient outcomes in cases of acute myocardial infarction.

Application:

Bradycardia: The bradycardia application segment is projected to dominate the external pacemaker market as bradycardia is a common condition that requires pacemaker therapy for managing slow heart rates.

Acute Myocardial Infarction: The acute myocardial infarction application segment is likely to witness substantial growth due to the increasing incidence of heart attacks and the need for external pacing in emergency situations.

End-user:

Hospitals: The hospitals end-user segment is expected to hold a major share in the external pacemaker market as hospitals are equipped with advanced medical facilities and skilled healthcare professionals for treating cardiac conditions requiring pacemaker therapy.

Ambulatory Surgical Centers: The ambulatory surgical centers end-user segment is anticipated to show significant growth owing to the increasing preference for outpatient procedures and the rising availability of external pacemaker devices in these facilities.

Others: The other end-user segment, including clinics and cardiology centers, is likely to witness steady growth due to the rising awareness about pacemaker therapy and the increasing prevalence of cardiac diseases in the population.

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Competitive Landscape:

The competitive landscape in the External Pacemaker Market is characterized by the presence of several key players that drive innovation and market growth through advanced technology and enhanced product offerings. The market is driven by an increasing prevalence of cardiovascular diseases, a growing geriatric population, and technological advancements in pacemaker devices. Companies are focusing on strategic partnerships, mergers, and acquisitions to strengthen their market position and enhance their product portfolio. Additionally, the emphasis on research and development aimed at improving the safety and efficacy of external pacemakers contributes to heightened competition. As the demand for external cardiac devices increases, companies are investing in marketing efforts and distribution channels to capture a larger market share.

Top Market Players

- Medtronic

- Boston Scientific

- Abbott Laboratories

- Biotronik

- St. Jude Medical (acquired by Abbott)

- SORIN Group (now part of LivaNova)

- Osypka Medical

- Shree Pacetronix

- Stryker Corporation

- Cook Medical

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External Pacemaker Market Size & Share, By Product...

RD Code : 24