External Pacemaker Market Size

External Pacemaker Market Size

External Pacemaker Market size was valued at around USD 1.2 billion in 2022 and is estimated to reach over USD 1.9 billion by 2032. The rising prevalence of cardiovascular diseases, increasing advancements in product technology, a growing aging population, and supportive initiatives adopted by various governments and public organizations are some of the key factors driving market progress.

The geriatric population faces an elevated susceptibility to chronic ailments such as cardiovascular diseases (CVDs). These health conditions often necessitate the use of external pacemakers to maintain an optimal heart rate. According to the Cleveland Clinic, in 2022, the overall incidence of sinus bradycardia increased with age, affecting 1 in 1000 adults over 45 years old and 1 in 600 cardiac patients over 65 years old. Therefore, the significant disease burden, high prevalence, and mortality rate are expected to drive the growth of the market in the near future.

An external pacemaker is a medical device that delivers electrical impulses to the heart to regulate and control its rhythm and rate. These devices are non-invasive and attached to the skin's surface, usually through adhesive electrode patches, to provide electrical stimulation to the heart when necessary.

The high cost of these devices for patients not covered by insurance in the U.S. and for patients in other parts of the world, along with the expenses associated with implantation procedures, will be one of the major factors impeding the external pacemaker market expansion. External pacemaker devices cost approximately USD 1,000 to 5,000 or more, depending on the type of pacemaker, the location, and the length of stay. The elevated cost of both the device and the procedures renders them unaffordable for the low and middle-income patient population, consequently leading to reduced demand and hindered business progress.