Leeds, UK -- (SBWIRE) -- 07/11/2019 -- The global leadless pacemakers market is forecasted to value over US$ 260 million by the end of 2026 and growing at a CAGR of over 21% during the forecast period, 2019 to 2026.
The pacemakers currently used to treat cardiac patients use lead as a primary material to connect pulse generator to heart chamber. This resulted in problems like lead fracture, breaking of the insulation which would in turn affect the lifecycle of the pacemaker. Due to all these factors, researchers developed the idea of leadless pacemakers. They are transplanted directly in the right ventricle of the heart where the heart muscles receive small electrical impulses from the pacemaker which will result in an acceptable heart rate. In addition to that, leadless pacemakers can be implanted within an hour as they are less invasive as compared to traditional pacemakers. Another advantage of using leadless pacemaker over a traditional pacemaker is that it has a low recovery time which improves its performance. But the most important reason for using leadless pacemakers is because it prevents the heart ventricle from causing any infection which is very critical considering it deals with the heart directly. The market growth for leadless pacemakers is huge as it also has an advantage of reducing the manufacturing cost which will help in penetrating the emerging economy markets during the forecast period.
Insights on Global Leadless Pacemakers Market:
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Rest of the World
North America dominates the global market as it becomes easy to adopt newer technologies due to the high spending capability of the patient population. The U.S primarily dominates the North American market region as it accounts for more than 90% of the share and is expected to do the same during the forecast period. Europe is the second most dominating market region and countries holding a major share of the market space are UK, Germany, France due to a higher penetration rate, in the end, user market segment. Asia Pacific region is adopting this technology at a faster rate and hence is expected to witness a rise in its market growth during the forecast period. Japan, China and India primarily dominate the Asia Pacific market and is expected to do the same during the forecast period. Latin America is also a fast-growing market with Brazil and Mexico leading the regional market. Rest of the World holds a small share of the global market and is expected to stay the same during the forecast period due to low adoption of the technology.
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By Product Type
- Micra transcatheter system
- Nanostim
- Wise CRT
Micra transcatheter pacing system currently leads the global market in this segment. No device dislodgement, an extended battery life, minimal complications post implantation and ease in retrieval are some of the advantages due to which it leads the market and it is expected to do the same during the forecast period. It has been implanted in more than 6000 patients across 30 countries since it was approved by the FDA in April 2016. Nanostim received approval from EMA in 2013 but due to obstacles like an early battery failure and spontaneous docking button detachment resulted in recalling the product which hampered its market position severely. It is thus expected to gain an average market growth rate during the forecast period.
By End User
- Hospitals
- Catheterization Laboratories
Hospitals are a major shareholder in this market segment across the world. Adoption of advanced and updated technologies combined with a superior infrastructure gains them a lot of tractions especially in developed economy markets and it is expected to do the same during the forecast period.
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Competitive Landscape:
- Abbott Laboratories
- Medtronic
Medtronic and Abbott are the only companies who have developed single-chamber leadless pacemakers, therefore, dominating the global market and it is expected that they will dominate the market during the forecast period as well. Abbott has acquired St. Jude Medical who are developing a dual-channel leadless pacemaker and would be the first company in the world to do so if it succeeds.
FutureWise Key Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global Leadless pacemaker market by region, by product type, by end-user
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and Rest of the World
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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