In 2020, the global market for implantable pacemaker products totaled nearly $3.9bn, with dual-chamber products accounting for nearly 75% of sales. Over the forecast period covered by this report, single-chamber pacemaker devices are expected to experience greater growth than the dual-chamber market, advancing at a CAGR of approximately 6.8%. Drivers include a growing prevalence of cardiovascular disease due to the aging population, the development of leadless pacemaker systems, and expanded indications.
Additionally, there is strong evidence of a correlation between COVID-19 and the development of atrial arrythmias. Given the scale of the pandemic, combined with this trend, there is the strong possibility of a short-term increase in patients requiring pacemakers.
Limiters include device cost, lack of long-term data for leadless technology, and lack of trained operators and facilities in certain geographic regions. Another major short-term concern is that rising geopolitical tensions combined with the effects of the COVID-19 pandemic have resulted in a series of bottlenecks hampering the production and distribution of the chips used in pacemakers and other medical devices. This analysis includes a discussion of products, current/forecast markets, competitors, and opportunities in the global markets for pacemaker systems for the US, five major European markets, Japan, and Rest of World markets for the years 2019-25.
