Market Overview:
The global MRI compatible pacemakers market is expected to register a CAGR of 5.8% during the forecast period, 2018-2030. The growth in this market can be attributed to the increasing prevalence of cardiovascular diseases and technological advancements in pacemaker devices. Based on type, the global MRI compatible pacemakers market is segmented into single-chamber pacemakers, dual-chamber pacemakers and biventricular/CRT (cardiac resynchronization therapy)pacemakers. Among these, the dual-chamber segment is expected to account for a major share of the global MRI compatiblepacemaker market during the forecast period. This can be attributed to its ability tomaintain synchrony between ventricles and improve hemodynamics by pacing each ventricle independently.
Product Definition:
MRI Compatible Pacemakers are pacemakers that have been specifically designed to be used in the presence of an MRI machine. These pacemakers are typically made from non-magnetic materials, which helps to minimize any interference that may be caused by the MRI machine.
Single-chamber Pacemakers:
Single-chamber pacemakers are used to treat bradycardia and cardiac arrest. They can also be used in cases of heart blockage or congenital heart defects. The device works by creating an electrical signal that causes the chambers to contract, thus pumping blood forward. These devices are mainly used for patients who have suffered a cardiac arrest and require immediate treatment; hence they need to be implanted close to the site of action so that they can serve their purpose quickly.
Dual-chamber Pacemakers:
The dual-chamber pacemaker is a cardiac rhythm management device that controls the rate and rhythm of heartbeats. It consists of two chambers, one for the natural heartbeat and another for pacing. The first chamber contains a coil that generates an electrical signal to pace or trigger the second chamber’s muscle to contractions.
Application Insights:
The hospitals & cardiac centers segment dominated the global market in 2017. This is attributed to a high prevalence of patients suffering from arrhythmia and heart block, which require pacemaker implantation. According to the American Heart Association, around 585,000 Americans aged over 65 years suffer from some form of arrhythmia annually. In addition, around 1 million individuals are diagnosed with atrial fibrillation each year globally. Thus, demand for MRI compatible pacemakers is expected to increase in coming years at a significant rate owing to rising incidence of these diseases across the globe.
Ambulatory surgical centers accounted for a considerable share in 2017 due primarily to increasing number of electrophysiology procedures performed there by Rhythm Technologies Corporation (RTC). RTC¢â‚¬â„¢s product portfolio includes advanced biventricular and CRT devices that deliver enhanced clinical outcomes while reducing long-term complications and costs compared with conventional technology solutions.
Regional Analysis:
North America dominated the global market in 2017 owing to a high prevalence of cardiac disorders, favorable reimbursement policies, and increasing awareness about advanced cardiac devices. Moreover, growing demand for MRI compatible pacemakers due to its benefits over CRT is expected to drive the regional market during the forecast period. Europe accounted for second-largest share in terms of revenue and is anticipated to grow at a lucrative rate over the forecast period due to an increase in geriatric population prone towards various heart diseases coupled with technological advancements such as biocompatible leadless pacemakers and implantable cardioverter-defibrillator (ICD) devices that are highly recommended by healthcare professionals when compared with other traditional ICDs.
Growth Factors:
- Increasing prevalence of cardiovascular diseases (CVDs)
- Rising geriatric population
- Growing demand for minimally invasive surgeries
- Technological advancements in MRI compatible pacemakers
- Increasing healthcare expenditure
Scope Of The Report
Report Attributes
Report Details
Report Title
MRI Compatible Pacemakers Market Research Report
By Type
Single-chamber Pacemakers, Dual-chamber Pacemakers, Biventricular/CRT Pacemakers
By Application
Hospitals & Cardiac Centers, Ambulatory Surgical Centers
By Companies
Medtronic, Abbott Laboratories, Boston Scientific, Biotronik, Livanova, Lepu Medical, Shree Pacetronix, Osypka Medical, Medico, Oscor
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
181
Number of Tables & Figures
127
Customization Available
Yes, the report can be customized as per your need.
Global MRI Compatible Pacemakers Market Report Segments:
The global MRI Compatible Pacemakers market is segmented on the basis of:
Types
Single-chamber Pacemakers, Dual-chamber Pacemakers, Biventricular/CRT Pacemakers
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals & Cardiac Centers, Ambulatory Surgical Centers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- Abbott Laboratories
- Boston Scientific
- Biotronik
- Livanova
- Lepu Medical
- Shree Pacetronix
- Osypka Medical
- Medico
- Oscor
Highlights of The MRI Compatible Pacemakers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single-chamber Pacemakers
- Dual-chamber Pacemakers
- Biventricular/CRT Pacemakers
- By Application:
- Hospitals & Cardiac Centers
- Ambulatory Surgical Centers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the MRI Compatible Pacemakers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
MRI compatible pacemakers are those that can be operated with an MRI scanner.
Some of the major players in the mri compatible pacemakers market are Medtronic, Abbott Laboratories, Boston Scientific, Biotronik, Livanova, Lepu Medical, Shree Pacetronix, Osypka Medical, Medico, Oscor.
The mri compatible pacemakers market is expected to register a CAGR of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 MRI Compatible Pacemakers Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 MRI Compatible Pacemakers Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 MRI Compatible Pacemakers Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the MRI Compatible Pacemakers Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global MRI Compatible Pacemakers Market Size & Forecast, 2018-2028
4.5.1 MRI Compatible Pacemakers Market Size and Y-o-Y Growth
4.5.2 MRI Compatible Pacemakers Market Absolute $ Opportunity
Chapter 5 Global MRI Compatible Pacemakers Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 MRI Compatible Pacemakers Market Size Forecast by Type
5.2.1 Single-chamber Pacemakers
5.2.2 Dual-chamber Pacemakers
5.2.3 Biventricular/CRT Pacemakers
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global MRI Compatible Pacemakers Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 MRI Compatible Pacemakers Market Size Forecast by Applications
6.2.1 Hospitals & Cardiac Centers
6.2.2 Ambulatory Surgical Centers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global MRI Compatible Pacemakers Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 MRI Compatible Pacemakers Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America MRI Compatible Pacemakers Analysis and Forecast
9.1 Introduction
9.2 North America MRI Compatible Pacemakers Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America MRI Compatible Pacemakers Market Size Forecast by Type
9.6.1 Single-chamber Pacemakers
9.6.2 Dual-chamber Pacemakers
9.6.3 Biventricular/CRT Pacemakers
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America MRI Compatible Pacemakers Market Size Forecast by Applications
9.10.1 Hospitals & Cardiac Centers
9.10.2 Ambulatory Surgical Centers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe MRI Compatible Pacemakers Analysis and Forecast
10.1 Introduction
10.2 Europe MRI Compatible Pacemakers Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe MRI Compatible Pacemakers Market Size Forecast by Type
10.6.1 Single-chamber Pacemakers
10.6.2 Dual-chamber Pacemakers
10.6.3 Biventricular/CRT Pacemakers
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe MRI Compatible Pacemakers Market Size Forecast by Applications
10.10.1 Hospitals & Cardiac Centers
10.10.2 Ambulatory Surgical Centers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific MRI Compatible Pacemakers Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific MRI Compatible Pacemakers Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific MRI Compatible Pacemakers Market Size Forecast by Type
11.6.1 Single-chamber Pacemakers
11.6.2 Dual-chamber Pacemakers
11.6.3 Biventricular/CRT Pacemakers
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific MRI Compatible Pacemakers Market Size Forecast by Applications
11.10.1 Hospitals & Cardiac Centers
11.10.2 Ambulatory Surgical Centers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America MRI Compatible Pacemakers Analysis and Forecast
12.1 Introduction
12.2 Latin America MRI Compatible Pacemakers Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America MRI Compatible Pacemakers Market Size Forecast by Type
12.6.1 Single-chamber Pacemakers
12.6.2 Dual-chamber Pacemakers
12.6.3 Biventricular/CRT Pacemakers
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America MRI Compatible Pacemakers Market Size Forecast by Applications
12.10.1 Hospitals & Cardiac Centers
12.10.2 Ambulatory Surgical Centers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) MRI Compatible Pacemakers Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) MRI Compatible Pacemakers Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) MRI Compatible Pacemakers Market Size Forecast by Type
13.6.1 Single-chamber Pacemakers
13.6.2 Dual-chamber Pacemakers
13.6.3 Biventricular/CRT Pacemakers
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) MRI Compatible Pacemakers Market Size Forecast by Applications
13.10.1 Hospitals & Cardiac Centers
13.10.2 Ambulatory Surgical Centers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 MRI Compatible Pacemakers Market: Competitive Dashboard
14.2 Global MRI Compatible Pacemakers Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Abbott Laboratories
14.3.3 Boston Scientific
14.3.4 Biotronik
14.3.5 Livanova
14.3.6 Lepu Medical
14.3.7 Shree Pacetronix
14.3.8 Osypka Medical
14.3.9 Medico
14.3.10 Oscor
