According to the research report titled ‘Pacemakers Market Size By Product (Implantable Pacemakers, External Pacemakers), By Technology (Single-chamber Pacemakers {Single-chamber Atrial, Single-chamber Ventricular}, Dual-chamber Pacemakers, Biventricular/CRT Pacemakers), By Type (MRI Compatible Pacemakers, Conventional Pacemakers), By Application (Congestive Heart Failure, Arrhythmias, Bradycardia, Tachycardia), By Age (Under 22 years, 23 - 49 years, 50 - 64 years, 65+ years), By End-use (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global pacemakers market is expected to cross a market valuation of USD 4.2 billion and register 2.4 million units as per volume by the year 2025.
 

Growing prevalence of various heart diseases such as heart blockages, bradycardia, and tachycardia among the global population is the major factor driving the pacemakers market growth. Rising geriatric population suffering from heart diseases is leading to increasing number of hospitalizations. This factor, coupled with rising consumer awareness regarding treatment of heart arrythmia disorder are aiding the expansion of pacemakers market.
 

Rising adoption of MRI-safe pacemakers, in tandem with advanced modifications in pacemakers such as transitional tissue welding, microprocessor control, and dynamic pacemaking are stimulating the industry outlook. However, lack of reimbursement policies and high cost of pacemakers will hinder the growth of the market.
 

As per product type, implantable pacemakers market was worth USD 3 billion in 2018 and is expected to register continuous growth during the estimated timeframe. The growth is attributed to presence of multiple leads in the device for smooth physiological functioning. Widespread adoption of implantable pacemakers to improve the quality of life of patients will boost the segmental share.
 

The report cites that dual-chamber pacemakers segment will grow with a CAGR of 3% during the period of 2019-2025. Growing number of patients suffering from atrioventricular blockage is leading to rising demand for dual-chamber pacemaker devices.
 

By type, MRI compatible pacemakers segment was worth USD 1.5 billion in 2018. The device eliminates the risk associated with electronic devices and enables safe MRI for patient with implants, thereby augmenting the market trends.
 

Based on application spectrum, tachycardia segment is expected to grow with a CAGR of 4.5% during the period of 2019-2025, owing to rising prevalence of tachycardia and structural heart disorders, along with surging geriatric population.
 

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In terms of end-user scope, pacemakers market from cardiac care centers is estimated to expand with a CAGR of 4% through 2025. Advancements in medical facilities and presence of skilled healthcare professionals are leading to the growth of the segment.
 

Considering geographical landscape, North America dominated the global pacemakers market in 2018, in which the U.S. market was worth USD 1.5 billion. Escalating healthcare expenditure, swift product approvals, and presence of key industry players are stimulating the regional market outlook.
 

The prominent companies operating in pacemakers market are OSCOR, Abbott, Medtronic, Pacetronix, Boston Scientific, and BIOTRONIK among others.