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Implantable Pacemakers Market Trends

  • Report ID: GMI9277
  • Published Date: Apr 2024
  • Report Format: PDF

Implantable Pacemakers Market Trends

  • Technological innovation continues to redefine the landscape of the implantable pacemakers industry, offering new and innovative products for improved patient outcomes and enhanced quality of life.
     
  • Ongoing advancements in miniaturization and battery technology have led to the development of smaller, more lightweight implantable pacemakers with longer battery life. For instance, the Micra implantable pacemaker developed by Medtronic is 93% smaller than traditional pacemakers. Its compact design allows it to be implanted directly inside the right ventricular of the heart. Despite its small size the battery typically lasts between 8 and 13 years.
     
  • These technological improvements enhance patient comfort, reduce surgical complications, and extend device longevity, thereby driving adoption rates among patients and healthcare providers.
     
  • Moreover, modern implantable pacemakers are equipped with wireless connectivity features and remote monitoring capabilities, allowing healthcare providers to remotely monitor patients' cardiac rhythms and device performance in real time.
     
  • This enables early detection of arrhythmias, timely intervention, and proactive management of device-related issues, leading to improved patient outcomes and reduced healthcare costs.
     
  • Additionally, the emergence of leadless pacemaker technology represents a significant technological advancement in the field of cardiac pacing. Leadless pacemakers are entirely self-contained devices implanted directly into the heart's right ventricle, eliminating the need for pacing leads and the associated risks of lead-related complications.
     
  • This innovative technology offers a minimally invasive alternative to traditional pacemaker implantation, expanding treatment options for patients and driving market growth.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size for implantable pacemakers was valued at USD 5.7 billion in revenue in 2023 and is anticipated to grow at 4.6% CAGR from 2024 to 2032, driven by the increasing prevalence of cardiovascular diseases.

The bradycardia application segment in the implantable pacemakers industry reached USD 3.2 billion in 2023, owing to growing aging population, heart disease, medication side effects, and autonomic dysfunction.

North America market size was valued at USD 2.4 billion and is predicted to grow at 3.1% CAGR during 2024-2032, favored by technological innovations in the medical device industry.

Abbott Laboratories, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Lepu Medical Technology, Medico S.R.L., Medtronic plc., MicroPort Scientific Corporation, Shree Pacetronix Ltd. and Vitatron

Implantable Pacemakers Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 9
  • Tables & Figures: 149
  • Countries covered: 23
  • Pages: 105
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