The pacemaker market is projected to reach USD 4.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 2.0%.
North America is expected to account for the largest market share during the forecast period.
North America is the major revenue-generating region in the global pacemaker market. Factors such as the rising prevalence of CVDs, growing geriatric population, increasing healthcare expenditure, and the availability of technologically advanced devices are driving the growth of the market in North America
The major vendors in the global pacemaker market are Medtronic (Ireland), Abbott (US), and Boston Scientific (US), BIOTRONIK (Germany), LivaNova (UK), OSCOR (US), Pacetronix (India), MEDICO (Italy), Osypka Medical (Germany), and Lepu Medical (China).
Recent Developments:
- In November 2017, Medtronic received FDA approval and launched the Azure pacemaker with BlueSync technology in the US market
- In February 2017, Medtronic received CE Mark certification for its Next Generation Cardiac Resynchronization Therapy-Pacemakers
- In February 2017, Abbott Laboratories received FDA approval for the Assurity MRI Pacemakers
- In March 2016, St. Jude Medical received the CE Mark certification for MRI compatibility for its Nanostim leadless pacemakers
