US Pacemaker Manufacturers Market 2024–2033

Reports Description

The US Pacemaker Manufacturers Market was valued at USD 1,635.7 million in 2024 and is expected to reach USD 2,799.9 million by 2033, at a CAGR of 5.67% during the forecast period 2024 – 2033.

A pacemaker is a small electronic device that prevents the heart from beating too slowly. Patients need to undergo surgery to get a pacemaker, which is placed under the skin near the collarbone. Pacemakers are available in various shapes, such as single-chamber, dual-chamber, and biventricular pacemakers. They are also called cardiac pacing devices.

US Pacemaker Manufacturers Market: Growth Factors

Increasing Patients of Chronic Vascular Diseases in US

The prevalence of various chronic vascular diseases such as abnormal heart rhythms, aorta disease, Marfan syndrome, congenital heart disease, coronary artery disease, heart blockage, and other heart and blood-related diseases are increasing in the United States due to the increasing geriatric population and inclination towards a sedentary lifestyle.

For instance, according to the data published by the US Department of Health and Human Services, about 129 million people in the US have at least 1 major chronic disease. This number is expected to increase during the forecast period owing to the growing prevalence of abnormal cardiac rhythm disorders.

For instance, the same source cited that in the United States, every year, more than 0.85 Mn people suffer from heart attacks. Out of these, about 0.60 Mn are first-time heart attack patients, and 0.20 Mn patients have multiple times heart attacks.

Changing lifestyle and eating habits of people is one of the main reasons of increasing chronic diseases in US. Many chronic diseases are the result of individual health behaviors, such as excessive drinking, smoking, sedentary lifestyles, and poor nutrition; structural socioeconomic and environmental factors play a role in their development, prevention, and management.

Thus, the growing prevalence of chronic diseases is increasing the incidence of chronic pain and the number of surgical procedures, which in turn is driving the demand for Pacemaker Manufacturers.

Growing Geriatric Population in US

Geriatric people are major consumers of pacemakers because they are more susceptible to heart attacks and other cardiovascular diseases. Thus, the growing geriatric population in the US is expected to drive the demand for pacemakers. The geriatric population in the US is increasing rapidly due to longer life expectancy and declining fertility.

People above 65 and older represented 19.2% of the population in 2023. That percentage is expected to grow to 22% by 2040. Nearly 95% of pollution have at least one chronic condition, and nearly 80% have two or more. The leading causes of death among older adults in the US are heart disease, cancer, COVID-19, stroke, chronic lower respiratory diseases,

Every year, millions of prescriptions are written for Pacemaker Manufacturers’ medications. The demand for non-opioid-based drugs is increasing because they have fewer side effects. Many powerful non-opioid Pacemaker Manufacturers, such as aspirin, ibuprofen, acetaminophen, anticonvulsants, and antidepressants, are currently available in the market.

These non-opioids have more favorable side effects and a lower potential for developing an addiction. The consumption of non-opioid based Pacemaker Manufacturers will not only reduce the development of opioid addiction but will also lead to better perioperative outcomes and enhanced patient recovery.

Furthermore, key players operating in the market are heavily investing in developing customized and error-free pacemakers, which can relieve cardiac pain over a longer period.

US Pacemaker Manufacturers Market: Restraints

High Cost of Pacemakers

The cost of pacemakers is very high due to various factors such as increasing hospital charges, growing inflation, increasing surgery costs, high fees for cardiac surgeries, and complex surgery processes. Pacemaker installation requires highly monitored and specialized operation theatres and surgery centers, which require advanced equipment, well-trained medical staff, and accommodation.

The cost of these services is increasing in the US due to the growing number of patients and inflation. Thus, these factors are increasing the overall installation cost of pacemakers, thereby reducing the profit margin, which in turn discourages investment in the market and reduces the overall market growth.

The absence of skilled surgeons across the US is also restraining the overall market growth during the forecast period. Lack of uniformity in the regulations about pacemaker installations is also expected to restrain the market growth.

Every state has its own set of rules and regulations regarding the usage and implementation of pacemakers. Stakeholders operating in the market find it very difficult to comply with such state-wide regulations, discouraging investment in the market and reducing overall market growth.

The growing use of implantable cardioverter defibrillator (ICD) and gene therapy as a substitute for pacemakers is expected to restrain the market growth. Gene therapy is emerging as the best alternative for pacemakers as it has few side effects and avoids infections. Furthermore, external factors such as patient expirations, genetic competition, availability of alternative therapies & nonpharmacological treatments, high development costs, and lengthy approval processes are restraining the market growth.

US Pacemaker Manufacturers Market: Opportunities

Technological Advancements in the Pacemakers 

Due to a supportive policy framework and increasing investment in cardiac research, the US pacemaker industry is seeing many technological innovations and research and development activities. Various technological innovations, such as remote monitoring, battery efficiency and device design, leadless pacemakers, MRI compatibility, and biocompatibility, are expected to create lucrative opportunities for market growth during the forecast period.

One significant innovation in the pacemaker industry is the innovation of leadless pacemakers. The many key players operating in the market are heavily investing in the development of leadless pacemakers because these pacemakers eliminate the risks by incorporating the pulse generator and electrodes into a single, small device. Leadless pacemakers offer excellent performance, safety features, and a lower risk of lead-associated infection and complications.

Additionally, key players operating in the market are heavily investing in R&D to discover and develop advanced pacemakers. For instance, many key players invest heavily in developing dual and multichamber pacemakers.

These multi-chamber pacemakers can synchronize atrial and ventricular contractions. Dual—and multi-chamber pacemakers use sensors and algorithms to detect the heart’s electrical activity and deliver coordinated impulses. Thus, such technological innovations are expected to create lucrative market opportunities during the forecast period.

US Pacemaker Manufacturers Market: Segmentation Analysis

Segmenting the US Pacemaker Manufacturers Market by product, technology, type, application, end user, and region. By Product, the market is further segmented into implantable and external pacemakers.

Among all these, implantable pacemakers dominated the global market in 2023 and are expected to keep their dominance during the forecast period owing to the growing implantation of pacemakers across the US. Implantable pacemakers are available in various shapes and forms, such as single chambers, multi-chambers, and dual chambers.

The implantation of pacemakers among patients is increasing worldwide due to the increasing number of cardiovascular surgeries. The pacemaker is implanted in the chest to regulate and maintain the electrical flow to the heart.

The external pacemakers segment is expected to grow at the fastest CAGR during the forecast period owing to the growing usage of external pacemakers to regulate the myocardiocyte and effectively regulate and maintain heart rates and cardiac output. External pacemakers, or transcutaneous pacemakers, temporarily stabilise the patient’s heart condition and blood pressure.

By technology, the dual chamber segment dominated the market in 2023 and is expected to continue doing so during the forecast period. Dual chamber pacemakers are very small, battery-powered devices used to maintain heart rhythm and blood flow to the heart.

The dual chamber has two leads connecting to both chambers on the right side of the heart, the right atrium, and the right ventricle. Key players have innovated new dual-chamber pacemakers incorporating various programmable features. These features allow the dual pacemaker to adjust the AV interval automatically in response to paced versus sensed P waves.

The multichamber segment is expected to grow at the fastest CAGR during the forecast period. Multichamber pacemakers contain multiple chambers and multiple wires. Due to their advanced and multidimensional features, these pacemakers are widely used across the US.

By Type, the conventional pacemaker segment dominated the market in 2023. It is expected to keep its dominance during the forecast period because it is very easy to handle and less complex. Various benefits of conventional pacemakers, such as their ease of handling, lower cost, small size, and elongated shelf life, are mainly boosting the market growth of this segment.

The MRI-compatible pacemaker segment is expected to grow at the fastest CAGR during the forecast period owing to their growing popularity across the US. Furthermore, increasing advances in MRI technology coupled with growing investment in pacemaker research and development are some of the factors expected to create lucrative opportunities for market growth during the forecast period.

The hospital segment held the highest market share by end user in 2023. Owing to the growing number of hospitals in the US, it is expected to keep its dominance during the forecast period 2024-2033. Furthermore, various other factors, such as the presence of well-equipped hospitals, supportive government initiatives across the U.S., and increasing credibility of hospitals due to the presence of expert surgeons in the US, are expected to propel the market growth of this segment during the forecast period.

Government and private companies’ growing emphasis on developing multispecialty hospitals is expected to create lucrative opportunities for this segment during the forecast period.

Cardiac Surgery Centers held the second-largest market share in 2023 and are expected to grow significantly during the forecast period. Patients’ increasing preference for cardiac surgeries in cardiac surgery centers due to short waiting times and the easy availability of specialists are some of the factors driving the market growth of this segment during the forecast period.

Report Scope

List of the prominent players in the US Pacemaker Manufacturers Market:

• OSYPKA MEDICAL
• Boston Scientific Corporation
• Asahi Kasei Group Company
• Medtronic
• BIOTRONIK SE & Co. KG
• MicroPort Scientific Corporation
• MEDICO S.R.L.
• Shree Pacetronix Ltd.
• Abbott
• OSCOR Inc
• Zoll Medical Corporation
• MicroPort Scientific Corporation
• MEDICO
• Others

The US Pacemaker Manufacturers Market is segmented as follows:

By Product

• Implantable pacemakers
• External pacemakers

By Technology

• Single Chamber
• Dual Chamber
• Biventricular Chamber

By Type

• MRI Compatible Pacemakers
• Conventional Pacemakers

By Application

• Arrhythmias
• Atrial Fibrillation
• Heart Block
• Long QT Syndrome
• Congestive Heart Failure
• Others

By End User

• Hospitals
• Cardiac Surgery Centers
• Ambulatory Surgical Centers
• Others