Pacemakers Market Size

Pacemakers Market Size

Pacemakers Market size was valued at around USD 6.2 billion in 2023 and is anticipated to grow at a CAGR of around 10% between 2024 and 2032. The rising prevalence of cardiovascular diseases, surging incidence of arrhythmias, technological advancement, the growing ageing population, and supportive initiatives adopted by various governments & public organizations.

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A pacemaker is a medical device that generates electrical impulses to regulate the heartbeat when the heart's natural electrical conduction system is not functioning properly, playing a critical role in cardiac rhythm management. Pacemakers help maintain an appropriate and consistent heart rate, ensuring that the heart beats regularly and at a sufficient rate to meet the body's oxygen and blood flow needs.

The high cost of these devices for patients not covered by insurance in the U.S. and patients in other parts of the world along with the cost of implantation procedures. The pacemaker device costs around USD 19,000 – 96,000 or more depending on the type of pacemaker, the location, and the length of stay. The total cost for pacemaker implantation ranges from USD 9,616 to 19,716 with an average cost of USD 14,290. The high cost of the device and procedures remains unaffordable to the low and middle-income patient population in the developing regions.