External Pacemakers Market Size, Share & Trends Analysis Report By Product (Single Chamber, Dual Chamber), By Application (Bradycardia, Acute Myocardial Infarction), By End-use, By Region, And Segment Forecasts, 2023 - 2030

External Pacemakers Market Size, Share & Trends Analysis Report By Product (Single Chamber, Dual Chamber), By Application (Bradycardia, Acute Myocardial Infarction), By End-use, By Region, And Segment Forecasts, 2023 - 2030

External Pacemakers Market Growth & Trends

The global external pacemakers market size is expected to reach USD 2.17 billion by 2030, growing at a CAGR of 3.4%, according to a new report by Grand View Research, Inc. The demand for external pacemakers is rising due to an increasing incidence of bradycardias associated with cardiovascular diseases (CVDs), such as sinus node infarction, complete heart block, and myocardial infarction. The American Heart Association (AHA) has reported in their "Heart Disease and Stroke Statistics - 2022 Update" that CVDs are responsible for roughly 19.0 million global fatalities. Furthermore, in July 2022, approximately 2.6 million (or 1 in every 12) Canadian adults aged 20 and above were diagnosed with heart disease. External pacemakers play a pivotal role in treating and managing these widespread cardiovascular conditions, thereby contributing to the expansion of the market.

The increasing geriatric population associated with irregular cardiac rhythmic conditions and heart attacks has led to a growing demand for pacemakers. This surge in demand is expected to be the primary driver fueling the expansion of the external pacemaker industry. According to the Heart and Stroke Foundation of Canada, approximately 750,000 individuals live with heart failure, and around 100,000 new cases are diagnosed annually. By 2030, the healthcare costs associated with heart failure in Canada are projected to reach up to USD 2.8 billion. Consequently, the market for external pacemakers is anticipated to experience rapid growth throughout the forecast period due to the significant number of cardiac patients and the increasing economic burden caused by heart failure in the nation.

External Pacemakers Market Report Highlights

• Based on product, the dual chamber segment dominated the market in 2022, holding the largest share of 59.32%. These devices allow the patients to track their regular heart activities
• Based on application, the bradycardia segment held a significant market share of 85.83% in 2022. Factors such as lifestyle disorders, lack of exercise, and fattiness increase the prevalence of CVDs, further increasing the segment's growth
• Based on end-use, the hospital & cardiac centers segment dominated the market in 2022, representing the largest share of 73.93%. These specialized medical facilities are important in identifying and treating various CVDs, such as cardiac arrhythmia, atrial fibrillation, and myocardial infarction
• North America emerged as the leading market region in 2022, holding the largest share of 41.27%. The region's advanced medical facilities, skilled healthcare professionals, and robust healthcare infrastructure contribute to the market growth in the region

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