Pacemakers Market Size to Hit USD 8.77 Billion by 2032, Driven by Rising Cardiac Cases and Demand for MRI-Compatible Devices – SNS Insider
According to Research by SNS Insider, Global Pacemakers Market Growth is Fueled by Aging Population and Technological Innovation.
Austin, April 17, 2025 (GLOBE NEWSWIRE) — Pacemakers Market Size & Growth Analysis:
According to a new report published by SNS Insider, the Pacemakers Market was valued at USD 5.35 billion in 2023 and is projected to reach USD 8.77 billion by 2032, growing at a CAGR of 5.66% over the forecast period 2024–2032.
The market’s growth is driven by the increasing burden of cardiovascular disorders and advancements in leadless and MRI-compatible pacemakers, coupled with the growing elderly population and improved access to cardiac care in emerging economies.
Get a Sample Report of Pacemakers Market@ https://www.snsinsider.com/sample-request/5916
Pacemakers Market Overview
The pacemaker market is experiencing high growth with rising cardiovascular disease incidence, technological innovation, and an aging population susceptible to arrhythmias and bradycardia. Pacemakers are implantable or external devices that control abnormal heart rhythms, and their increasing application in preventive and therapeutic cardiology is driving demand. In addition, innovations like leadless pacemakers, wireless monitoring, and extended battery life are transforming the market, providing patients with increased convenience and safety.
The United States held a market size of USD 1.55 billion in 2023 and is expected to reach USD 2.34 billion by the year 2032. With well-developed healthcare infrastructure and early inclusion of cutting-edge cardiac devices, the U.S. continues to be a significant contributor, particularly because of its aging population and increasing awareness regarding cardiac health.
The growth of the market is also aided by positive reimbursement policies and ongoing R&D investments by major players. In the Asia-Pacific region as a whole, rising healthcare expenditure and penetration of advanced cardiac care are driving growth, particularly in nations such as China, India, and Japan.
Key Pacemakers Companies Profiled in the Report
- Medtronic – Micra, Azure, Advisa MRI SureScan
- Abbott – Assurity MRI, Endurity, Accent MRI
- Boston Scientific – ACCOLADE, ESSENTIO, ALTRUA
- BIOTRONIK – Edora, Evity, Enitra
- MicroPort Scientific Corporation – Rega, Kora 100
- MEDICO S.R.L. – Symphony, Melody
- Shree Pacetronix Ltd. – Single Chamber, Dual Chamber
- OSYPKA MEDICAL – OSYPKA Pacemaker Systems
- OSCOR Inc – Oscor External Pacemakers
- Lepu Medical Technology – Ankang Series
- Pacemakers Market Report Scope
Pacemakers Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 5.35 billion |
| Market Size by 2032 | US$ 8.77 billion |
| CAGR | CAGR of 5.66% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Product
Implantable pacemakers dominated the pacemaker market in 2023, with a share of 65.0% in terms of overall revenue. The reason behind this dominance is the reliability, efficacy, and increased demand for minimally invasive procedures of implantable pacemakers. Implantable types, i.e., dual-chamber or MRI-compatible models, are very popular because of reduced infection rates and better outcomes for patients. The segment should also continue to be the fastest-growing through the launch of smaller, leadless versions that provide more mobility and less complication during implantation.
By Application
The bradycardia segment was the most dominant application in 2023, with a market share of 24.5%. This is due to the high prevalence of slow heart rhythms in the elderly, necessitating pacemaker intervention for rhythm control. In contrast, the arrhythmias segment is expected to expand at the highest rate, led by rising diagnostics and awareness. An increasing number of younger people being diagnosed with irregular heartbeats and the availability of advanced diagnostic tools are driving this growth.
By End Use
Hospitals led the end-use segment in 2023 with a share of 68.6%, driven by their availability of sophisticated surgical devices and trained specialists who can perform high-end pacemaker implantations. Outpatient facilities, on the other hand, are predicted to increase at the highest growth rate. The move towards day-care cardiac treatment, patient desire for reduced hospital stays, and the increasing number of mobile cardiac care devices available are driving outpatient facility adoption.
For A Detailed Briefing Session with Our Team of Analysts, Connect with Us Now@ https://www.snsinsider.com/request-analyst/5916
Pacemakers Market Segmentation
By Product
- External pacemakers
- Single Chamber
- Dual Chamber
- Implantable pacemakers
- Conventional
- Single Chamber
- Dual Chamber
- Biventricular Chamber
- Leadless
- Single Chamber
- Dual Chamber
- Conventional
By Application
- Bradycardia
- Acute Myocardial Infarction
- Arrhythmias
- Atrial Fibrillation
- Heart Block
- Long QT Syndrome
- Non-Congestive Heart Failure
- Others
By End Use
- Hospitals
- Outpatient Facilities
Pacemakers Market Regional Outlook
North America dominated the worldwide pacemaker market in 2023 with a massive 38.4% share. The region’s leadership is supported by positive reimbursement systems, fast uptake of new technologies, and the availability of top industry players. The U.S., for instance, is a focal point for new product launches as well as for cardiac rhythm management clinical research.
The Asia-Pacific region is anticipated to see the fastest growth over the forecast period. Improved investments in healthcare infrastructure, rising awareness of heart health, and growing incidence of cardiac disorders in populous nations such as India and China are driving market growth. In addition, government efforts in the region to make healthcare more accessible and affordable are set to draw in major players to untapped markets.
Recent Developments in the Pacemaker Market
- Dec 2024 – Boston Scientific received an FDA safety communication regarding its Accolade pacemakers due to a battery cathode manufacturing issue. The devices risk entering safety mode permanently, prompting evaluation of broader device impact.
- Nov 2024 – Abbott launched the AVEIR VR leadless pacemaker in India for patients with bradycardia. The device received both CDSCO and US FDA approvals.
- Aug 2024 – Medtronic introduced the Micra AV2 and VR2 leadless pacemakers in select European markets, offering enhanced battery longevity and automated AV synchrony.
- Jun 2024 – Biotronik launched the Biomonitor IV, an implantable cardiac monitor with remote pacemaker monitoring capabilities across Europe.
Statistical Insights and Trends Reporting
- Over 38 million people globally were diagnosed with cardiac arrhythmias in 2023, with bradycardia representing approximately 15% of these cases. The prevalence of pacemaker implants was highest among individuals aged 65 and above.
- North America and Europe reported the highest device usage per 100,000 population. In the U.S., nearly 180 pacemaker implants were performed per 100,000 people in 2023, compared to 90 in APAC countries, indicating room for growth.
- Global pacemaker device production increased from 1.1 million units in 2020 to approximately 1.6 million units in 2023, with projections to reach over 2.4 million units annually by 2032.
- In 2023, North America spent the most on cardiac rhythm management devices at over USD 6.8 billion, with 35% from government-funded insurance programs. In contrast, APAC regions relied more on out-of-pocket and private insurance payments, especially in emerging markets.
- Prescriptions for pacemaker implantation procedures rose by 12% in APAC and 8% in Latin America. Demand remained steady in Europe and North America due to established cardiac health programs and ongoing patient monitoring strategies.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence of Cardiovascular Diseases (2023)
5.2 Pacemaker Implantation Trends (2023), by Region
5.3 Technological Advancements and Innovation Trends in Pacemakers
5.4 Healthcare Spending on Pacemakers, by Region (Government, Commercial, Private, Out-of-Pocket), 2023
5.5 Adoption of Remote Monitoring and Digital Health in Pacemakers
5.6 Patient Demographics and Acceptance of Pacemakers
6. Competitive Landscape
7. Pacemakers Market by Product
8. Pacemakers Market by Application
9. Pacemakers Market by End Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
Related Reports
Cardiac Rhythm Management Devices Market Forecast
Cardiovascular Devices Market Outlook
Cardiac Monitoring Devices Market Report
Wearable Cardiac Devices Market
Heart Failure POC & LOC Devices Market
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.