Global Implantable Pulse Generator Market Size, Trends & Growth Opportunity, By Product Type (Single Lumen, and Double Lumen), By Application (Chronic Arrhythmia, Hypertension, and Diabetes), By End User, By Region and Forecast from 2022-2027.

Global Implantable Pulse Generator Market Size, Trends & Growth Opportunity, By Product Type (Single Lumen, and Double Lumen), By Application (Chronic Arrhythmia, Hypertension, and Diabetes), By End User, By Region and Forecast from 2022-2027.

Global Implantable Pulse Generator Market

Global Implantable Pulse Generator Market was valued at USD 3.1 billion in 2021 which expected to reach USD 6.2 billion by 2027 at a CAGR 6.29%.

An implantable pulse generator is a battery-operated device that, when implanted in the body, electrically stimulates the nervous system to either stimulate or block various nerve impulses in the body. This technique is utilized to treat a variety of medical issues, including obesity, hypertension, diabetes treatment, and the reduction of back pain and daily insulin usage. These pulse generators can also be employed when a medication is either wholly useless or causing negative effects.

Market Drivers

The global implantable pulse generator market is anticipated to rise over the course of the projected period as a result of the rising prevalence of various medical illnesses and diseases. For instance, 1.13 billion individuals worldwide are estimated to have hypertension, according to the World Health Organization. The expansion of the market will also benefit from the rise in regulatory authority approvals. As an illustration, the US Food and Drug Administration (US FDA) approved the optimizer smart implantable pulse generator, which provides cardiac contractility modulation therapy, in March 2019.

Additionally, during this projection period, the worldwide implantable pulse generator market is anticipated to increase as a result of the launch of new products by major players For instance, Boston Scientific introduced its WaveWriter AlphaTM portfolio of Spinal Cord Stimulator (SCS) Systems in Europe in September 2020. The portfolio includes four MRI conditionali, implantable pulse generators with Bluetooth capabilities, both rechargeable and non-rechargeable, and access to waveforms that can address various pain locations.

Market Restraints

The main factor impeding the growth of the global implanted pulse generator market in the projected period given above is the rising need for replacement operations for these implantable medical devices, whether to replace the batteries or the entire device after a set amount of time.

Market Segmentation

The Global Implantable Pulse Generator Market is segmented into product type such as Single Lumen, and Double Lumen. The increase in demand for single lumen and double lumen implantable pulse generators for the treatment of heart failure and arrhythmias and ongoing clinical trials is a major leading to market growth over the forecast period. Also, the market is segmented into application such as Chronic Arrhythmia, Hypertension, and Diabetes. On the basis of end user market is segmented into end user such as Hospitals and Clinics, Outpatient Centers, and Homecare Settings. Hospitals and Clinics offer superior care to their patients and provide reimbursements during surgeries, thus the hospitals and clinics segment witnessing incredible growth.

Impact of COVID-19 on Market

Heart disease, diabetes, and hypertension patients had been adversely impacted by the COVID-19 outbreak. The healthcare & medical equipment industries had experienced a tremendous economic impact due to the emergence of new coronavirus.

Regional Analysis

The Global Implantable Pulse Generator Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Due to the presence of major players, the growth in the elderly population with cardiac issues as well as rising incidences of chronic diseases like hypertension, diabetes, etc. are further fueling the global implantable pulse generator market growth in the region. North America is anticipated to hold the largest revenue share in 2019. Due to the leading players' market penetration and the enormous untapped potential that are fueling the worldwide implantable pulse generator market growth, the APAC implantable pulse generator market is predicted to grow profitably throughout the forecast period.

Key Players

Key players undertook various strategic initiatives like product launch, partnership, and mergers & acquisitions to gain penetration. Some of the prominent players in the global implantable pulse generator market include: Boston Scientific Corporation, Nevro Corporation, Abbott, Medtronic, Dextronix, Inc., Integer Holdings Corporation, NeuroSigma, Inc., Cyberonics, Inc., Synapse Biomedical, Inc., St. Jude Medical, Inc., etc.

Market Taxonomy

By Product Type

• Single Lumen
• Double Lumen