Europe: Pacemaker Market 2024

Pacemaker Market Size in Europe

In 2021, the Europe pacemaker market decreased by -3.1% to $X, falling for the fourth consecutive year after four years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Pacemaker Production in Europe

In value terms, pacemaker production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 29%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Pacemaker Exports

Exports in Europe

After two years of decline, shipments abroad of pacemakers for stimulating heart muscles (excl. parts and accessories) increased by 23% to X units in 2021. Overall, exports showed a relatively flat trend pattern. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, pacemaker exports soared to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Germany (X units), the Netherlands (X units), Switzerland (X units), Belgium (X units) and Ireland (X units) was the major exporter of pacemakers for stimulating heart muscles (excl. parts and accessories) in Europe, creating 93% of total export. The following exporters - France (X units) and Italy (X units) - each reached a 5.3% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belgium (with a CAGR of +63.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pacemaker supplying countries in Europe were Switzerland ($X), Ireland ($X) and the Netherlands ($X), with a combined 66% share of total exports. Germany, Belgium, France and Italy lagged somewhat behind, together accounting for a further 33%.

Belgium, with a CAGR of +59.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per unit in 2021, with an increase of 4.6% against the previous year. In general, the export price, however, continues to indicate a mild shrinkage. The growth pace was the most rapid in 2019 an increase of 18%. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per unit), while Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+5.0%), while the other leaders experienced mixed trends in the export price figures.

Pacemaker Imports

Imports in Europe

In 2021, the amount of pacemakers for stimulating heart muscles (excl. parts and accessories) imported in Europe totaled X units, stabilizing at 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 22% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, pacemaker imports stood at $X in 2021. Overall, imports, however, continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2019 with an increase of 22% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of pacemakers for stimulating heart muscles (excl. parts and accessories), namely the Netherlands, Belgium and Germany, represented more than half of total import. It was distantly followed by France (X units), Italy (X units) and the UK (X units), together making up a 21% share of total imports. Switzerland (X units), Spain (X units), Ireland (X units), Poland (X units) and Russia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Belgium (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and France ($X) were the countries with the highest levels of imports in 2021, with a combined 48% share of total imports. Germany, Italy, Ireland, Spain, the UK, Switzerland, Poland and Russia lagged somewhat behind, together accounting for a further 44%.

Ireland, with a CAGR of +27.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per unit in 2021, growing by 3.7% against the previous year. Overall, the import price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2020 when the import price increased by 14% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ireland ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform