Leadless Pacemaker Market 2019 by Services, Solution, Application, Business Analysis, Currents Trends, Statistics, and Investment Opportunities to 2027

Growth Prospects and Emerging Trends

Leadless Pacemaker Market 2019 by Services, Solution, Application, Business Analysis, Currents Trends, Statistics, and Investment Opportunities to 2027

Press Release

Pacemakers were developed in the 1950s and were mainly aimed at treating life-threatening heart blockages that occur after cardiac surgery. Though these devices were able to increase the life span, they were plagued by many disadvantages, including short life span of the battery, lead failure, and infections caused due to surgery.  Many of these same issues are present today with most left ventricular assisted pacemaker devices. With advancements in technology, the size of pacemakers has reduced significantly, which allowed for the first pacemaker to be implanted in Sweden in 1958. Trans-venous lead was developed and first used in pacemaker devices by Parsonnet etal. These early pacemakers had limited functionality and could only perform asynchronous pacing. Rapid advances have been made with pacemaker technology, including rate and output, to allow noninvasive communication with devices and improved battery technology in order to extend the life span of the pulse generator by one year. 

Trans-venous cardiac pacemakers have improved life and reduced mortality for patients. However, these pacemakers are still associated with many potential device-related complications. It is estimated that around 10% of patients experience complications related to trans-venous implantation of pacemakers. Conventional pacemakers are reliable, but they still face many limitations that arise from the subcutaneous pocket where pacemakers are placed. These may give rise to skin erosion. The use of trans-venous lead can lead to pneumothorax or deep vein thrombosis. Leadless pacemakers are of two types: single chambered and double chambered. Until now around five million conventional pacemakers have been implanted worldwide, and out of these, nearly 20% cases have failed annually because of lead wiring.

In order to eradicate the difficulty arising due to lead wiring, researchers have developed leadless pacemakers. Leadless pacemakers are designed to achieve the same pacing result as conventional pacemakers. Leadless pacemakers are self-contained devices that can be easily implanted within the right ventricle of the heart without surgery through the use of a catheter induced via the veins in the leg, thus leaving no scar marks.

The major drivers of the global leadless pacemaker market are an increase in the geriatric population, rise in the incidence of cardiovascular disorders, technological advancements, increase in health care expenditure, and rise in in favorable government reforms for promoting health care facilities.  Moreover, other factors such as avoiding the use of harmful lead, no infections and scar marks, MRI compatibility, and no postoperative mobility restriction are anticipated to boost the global leadless pacemaker market. However, factors such as lack of adequate personnel to perform procedures, reimbursement issues, and high cost of implantation are expected to drive the global leadless pacemaker market.  The cost of leadless pacemakers is approximately four times that of conventional pacemakers.

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The global leadless pacemaker market can be segmented based on technology, end-user, and geography. In terms of technology, the global leadless pacemaker market can be divided into single chambered, double chambered, subcutaneous ICD leadless pacing, and other. Based on end-user, the leadless pacemaker market can be classified into hospitals, ambulatory surgical centers, academic & research institutes, and others.

Based on geography, the global leadless pacemaker market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to lead the global leadless pacemaker market, due to high prevalence of cardiac-related diseases and presence of major players in the global leadless pacemaker market. The market in North America was closely followed by that in the European region.

The leadless pacemaker market in Asia Pacific is anticipated to provide a lucrative market opportunity during the forecast period, owing to increasing patient population, technological advancements, and rising demand for efficient pacing systems. The market in Latin America and Middle East & Africa is expected to expand due to an increase in focus of manufacturers in the region for business expansion.

Major players operating in global leadless pacemaker market are Abbott, Medtronic’s, Boston Scientific Corporation, Biotronik, and others. Increase in product approvals and technological advancement is expected to drive the market during the forecast period. For instance, Micra Trans-catheter Pacing System (TPS) pacemaker by Medtronic’s received the U.S. FDA approval in April 2016.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis

The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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