Global External Pacemaker Market Insights Forecasts to 2033

• The Global External Pacemaker Market Size was Valued at USD 1.76 Billion in 2023
• The Market Size is Growing at a CAGR of 3.41% from 2023 to 2033
• The Worldwide External Pacemaker Market Size is Expected to Reach USD 2.46 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global External Pacemaker Market Size is Anticipated to Exceed USD 2.46 Billion by 2033, Growing at a CAGR of 3.41% from 2023 to 2033.

Market Overview

An external pacemaker is a medical device that stimulates the heart with electrical impulses to manage its rate and rhythm. These non-invasive devices are used to stimulate the heart electrically as needed. They are often affixed to the skin's surface using adhesive electrode patches. Heart-related conditions have emerged as a major worldwide public health concern, mainly due to many risk factors such as a sedentary way of life, high blood pressure, stress, and diabetes. For example, the American Heart Association estimates that 3 million people worldwide have pacemakers, and 600,000 are placed with pacemakers annually. Effective preventative, diagnostic, and therapeutic approaches are desperately needed, as seen by the dramatic rise in CVD-related mortality. In order to maximize patient comfort and simplicity of use, manufacturers are concentrating on ergonomic designs, user-friendly interfaces, and increased portability. This is indicative of a market that is increasingly focused on patient-centric care. Consequently, external pacemakers have emerged as essential instruments in cardiac care environments across the globe, propelling industry expansion and novelty to fulfill the changing requirements of patients and medical professionals. The world's aging population and pacemaker technology developments are two major variables that are expected to have a substantial impact on the market's growth. The elderly population, especially those 65 years of age and older, is more susceptible to chronic conditions such as cardiovascular disease (CVDs), which frequently necessitate the implantation of external pacemakers in order to maintain a normal heartbeat.

Report Coverage

This research report categorizes the market for the global external pacemaker market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global external pacemaker market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global external pacemaker market.

Driving Factors

The number of patients suffering from heart blockages and arrhythmias is increasing, and this is creating a demand for efficient cardiac rhythm treatment techniques. In the interim, patients can receive non-invasive and temporary heartbeat regulation via external pacemakers, which act as a lifeline while they await more permanent treatment alternatives such as surgery or implanted devices. The market for external pacemakers is significantly influenced by cardiovascular disease (CVD) because of its prevalence and effects on heart rhythm management. Although external pacemakers provide electrical stimulation to regulate the heart's beating pattern, they are essential in managing cardiac rhythm problems linked to cardiovascular disease (CVD). The need for external pacemakers is anticipated to rise as the prevalence of CVD continues to rise worldwide due to reasons like aging populations, sedentary lifestyles, and poor diets.

Restraining Factors

The high price of sophisticated devices is a major barrier for external pacemaker companies. Although these devices provide beneficial heart care options, some patients and healthcare systems may find their cost to be expensive. Potential issues that may arise during device implantation operations might also present difficulties and raise medical expenses. These factors might restrict market expansion and accessibility for specific patient demographics. Therefore, some patients may find it difficult to obtain external pacemakers due to their high cost, especially if they lack sufficient health insurance or financial means. These factors restrain the growth of the external pacemaker market.

Market Segmentation

The global external pacemaker market share is classified into product, application, and end-user.

• The dual chamber segment is anticipated to hold the largest share of the global external pacemaker market during the forecast period.    

On the basis of the product, the global external pacemaker market is divided into single chamber and dual chamber. Among these, the dual chamber segment is anticipated to hold the largest share of the global external pacemaker market during the forecast period. Dual-chamber external pacemakers have the potential to greatly improve the growing number of individuals with atrioventricular block. These devices have two leads that are placed in the right ventricle and right atrium. These leads cooperate to mimic the atrium and ventricle's normal physiological activity when a weak heart rate is recorded. Dual-chamber external pacemakers increase cardiac output and blood flow by accurately timing atrial and ventricular contractions. This may also improve tissue and organ oxygenation. As such, it is expected that these variables would be pivotal in driving the future market expansion of external pacemakers with two chambers.

• The bradycardia segment is anticipated to hold the highest share of the global external pacemaker market during the forecast period.    

On the basis of the application, the global external pacemaker market is divided into bradycardia and acute myocardial infarction. Among these, the bradycardia segment is anticipated to hold the highest share of the global external pacemaker market during the forecast period. The primary cause of this is the rising incidence rate of recurrent arrhythmias, driven by a number of variables, including aging populations, risk factors associated with lifestyle choices, and underlying cardiac diseases. Over the past 20 years, there has been a 33% increase in the prevalence of atrial fibrillation worldwide, resulting in a substantial burden. Therefore, throughout the projected period, the segment's growth is anticipated to be driven by the increasing prevalence of arrhythmias, such as bradycardia, and related disorders worldwide. Thus, it is expected that these variables would increase demand for the product during the course of the projection period.

• The hospitals segment is anticipated to hold the largest share of the global external pacemaker market during the forecast period.   

On the basis of end-user, the global external pacemaker market is divided into hospitals, ambulatory surgical centers, and others. Among these, the hospitals segment is anticipated to hold the largest share of the global external pacemaker market during the forecast period. Hospitals play a major role in the diagnosis, treatment, and management of cardiovascular disorders that need cardiac rhythm control, which contributes significantly to the external pacemaker industry. Hospitals are the main locations where external pacemakers are implanted and monitored, offering patients access to professional cardiac care services and medical knowledge. Cardiology, electrophysiology, and cardiovascular surgery are just a few of the departments that work in hospitals to evaluate patients for external pacemaker therapy, perform device implantation operations, and manage post-implantation care and monitoring.

Regional Segment Analysis of the Global External Pacemaker Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global external pacemaker market over the predicted timeframe.

North America is anticipated to hold the largest share of the global external pacemaker market over the predicted timeframe. Due to a number of variables, including a rising rate of heart disease, an aging population, the presence of major industry players in the area, and a highly developed healthcare system, North America held the largest market share. It raised public and healthcare stakeholders' understanding of the technologies that are currently available. Furthermore, a number of medical device producers who are engaged in the study and development of adapting external pacemakers are anticipated to support the growth of the regional market. The increased frequency of unfavorable events is expected to boost the rate of adoption of improved CVD management, which is propelling the entry of new competitors into the market. This trend is expected to persist over the predicted timeframe.

Asia-Pacific is anticipated to grow at the fastest rate in the global external pacemaker market over the predicted timeframe. A number of contributing factors, including sedentary lifestyles, poor dietary habits, and an aging population that increases the incidence of CVD and raises the need for efficient treatment options like external pacemakers, are predicted to grow the market. Additionally, the region's market is growing due to expanding access to medical services, rising disposable incomes, and improved healthcare infrastructure. Recent examples include government programs targeted at enhancing healthcare access and cost, especially in rural regions, and strategic alliances between international medical equipment makers and regional distributors to broaden market reach. The Asia-Pacific region has emerged as a significant growing market for external pacemakers due to a combination of these factors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global external pacemaker market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medtronic
• OSYPKA MEDICAL
• Fluke
• Avery Biomedical Devices, Inc.
• Lepu Medical Technology (Beijing) Co., Ltd.
• Boston Scientific Corporation
• Pacetronix.com
• OSCOR Inc.
• Abbott
• BIOTRONIK
• Cook Medical
• Reka Health Pte Ltd
• ZOLL Medical Corporation
• Spacelabs Healthcare
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2023, Boston scientific Corporation introduced the close of its purchase of Relievant Medsystems Inc., a company that offers the only U.S. Food and Drug Administration-cleared Intracept Intraosseous Nerve Ablation System, a therapy to treat vertebrogenic pain which is form of chronic low back pain. The Intracept system, a basivertebral nerve decrement therapy, is an addition to the Boston Scientific chronic pain portfolio that involves spinal cord stimulation, radiofrequency consumption and an interspinous spacer process.

• In May 2023, Medtronic plc introduced U.S. Food and Drug Administration (FDA) approval of its Micra AV2 and Micra VR2, the next generation of its industry-leading downsized, leadless pacemaker. This product acceptance may help the company to increase their product portfolio and revenue of company.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global external pacemaker market based on the below-mentioned segments: 

Global External Pacemaker Market, By Product

• Single Chamber
• Dual Chamber

Global External Pacemaker Market, By Application

• Bradycardia
• Acute Myocardial Infarction

Global External Pacemaker Market, By End-User

• Hospitals
• Ambulatory Surgical Centers
• Others

Global External Pacemaker Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa