India Cardiac Pacemakers Market Report 2023 to 2030

India Cardiac Pacemakers Market Analysis

$ 3999

The India Cardiac Pacemakers Market was valued at $73.60 Mn in 2023 and is predicted to grow at a CAGR of 6.2% from 2023 to 2030, to $112.13 Mn by 2030. The key drivers of this industry include medical tourism, rising prevalence, and government initiatives. The industry is primarily dominated by players such as Abbott Laboratories, Biotronik, Boston Scientific, and Medtronic among others.

ID: IN10INMD013 CATEGORY: Medical Devices GEOGRAPHY: India AUTHOR: Aashwi Mehta

Buy Now

India Cardiac Pacemakers Market Executive Summary

The India Cardiac Pacemakers Market was valued at $73.60 Mn in 2023 and is predicted to grow at a CAGR of 6.2% from 2023 to 2030, to $112.13 Mn by 2030.

A pacemaker is a small device designed to treat certain types of arrhythmias. Arrhythmias can cause the heart to beat too fast (tachycardia), too slow (bradycardia), or irregularly. When the heart beats too slowly, it can lead to inadequate oxygen supply to the body and brain, resulting in symptoms like lightheadedness, fatigue, fainting spells, and shortness of breath. Pacemakers send electrical pulses to maintain a normal heart rate and rhythm. Additionally, they can help synchronize the heart chambers, improving blood pumping efficiency, which is particularly beneficial for those with heart failure.

Non-communicable diseases (NCDs), including cardiovascular diseases (CVDs), are projected to cause 60% of all adult deaths in India, with CVDs alone contributing to more than a quarter (26%) of these fatalities. The market is driven by significant factors like medical tourism, rising prevalence, and government initiatives. However, high costs, healthcare disparities, and regulatory challenges restrict the growth and potential of the market.

Prominent players in this field include Abbott Laboratories, Biotronik, Boston Scientific, and Medtronic among others.

India Cardiac Pacemakers Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Medical Tourism: The projected growth in medical tourism to India, expected to rise from around 6.1 Mn visitors in 2023 to approximately 7.3 Mn in 2024, drives the market for cardiac pacemakers. This influx increases the demand for advanced medical treatments, including pacemaker implants, as international patients seek high-quality healthcare in India.

Rising Prevalence: Non communicable diseases (NCDs) contribute to around 5.87 Mn (60%) of all deaths in India. The increasing prevalence of cardiovascular diseases in India fuels demand for advanced cardiac interventions like pacemaker implants, making it a key driver for the cardiac pacemaker market in the country.

Government Initiatives: India became the first country to establish national targets and indicators focused on reducing global premature deaths from non-communicable diseases (NCDs) by 25% by 2025. Such governmental initiative drives the market for cardiac pacemakers in India by fostering a healthcare environment that prioritizes the treatment and management of cardiovascular diseases, thereby increasing the demand for advanced cardiac technologies like pacemaker implants.

Market Restraints

High Cost: The high cost of pacemaker devices and procedures poses a market restraint in India, as it can make these treatments financially inaccessible for many patients, thereby lowering adoption rates within the cardiac pacemaker market.

Healthcare Disparities: Healthcare disparities in India create barriers to accessing specialized cardiac care and pacemaker treatments, particularly affecting rural and underserved populations. This limitation restricts the potential demand for pacemakers and hampers market growth.

Regulatory Challenges: Tough regulatory standards and extended approval procedures for medical devices could delay the rollout of new pacemaker technologies in India, thereby restraining the growth of the cardiac pacemaker market.

Regulatory Landscape and Reimbursement Scenario

Medical devices, such as cardiac pacemakers, are governed by the Drugs and Cosmetics Act, of 1940, and the Medical Device Rules, of 2017 in India. The National Medical Devices Policy 2023 aims to enhance access to affordable healthcare by regulating the prices of all medical devices through the Drug (Prices Control) Order. Under various health insurance schemes, the government has established maximum reimbursement rates for the cost of cardiac pacemakers, covering expenses related to implantation as well as pre-and post-hospitalization care.

Competitive Landscape

Key Players

Here are some of the major key players in the Cardiac Pacemaker Market:

Abbott Laboratories
Biotronik
Boston Scientific
Medtronic
Pacetronix
Siemens Healthineers
LivaNova
Cardinal Health
MicroPort Scientific Corporation
Edwards Lifesciences
OSYPKA Medical

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

India Cardiac Pacemakers Market Segmentation

By Product Type

Single chamber
Dual chamber
Bi ventricular

By Application

Bradycardia
Tachycardia
Other Arrhythmia

By End Users

Hospitals
Ambulatory Surgical Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.