Increasing prevalence of cardiovascular diseases worldwide, growing geriatric population, and rising awareness about importance of early treatment are some key factors expected to drive global market growth.
Increasing prevalence of cardiovascular diseases worldwide, growing geriatric population, and rising awareness about importance of early treatment are some key factors expected to drive global market growth
Market Dynamics:
Leadless pacemaker system is one of the recent additions to the cardiac pacemaker technologies. These pacemakers are 90% smaller than transvenous pacemakers and low incidence of early complications as compared to conventional ones have been reported to date. The leadless pacemaker is a self-contained device with a generator and electrode system that is directly implanted in the right ventricle of the heart. These pacemakers are widely used for patients experiencing slow or irregular heartbeats. Factors such as increasing incidence of atrial fibrillation, sinus node dysfunction, and atrioventricular block among the global population, rising awareness about the benefits of leadless pacemaker systems, and increasing investments in R&D activities are expected to drive global market revenue growth during the forecast period.
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In addition, increasing demand for minimally invasive surgeries, rising healthcare expenditure, and high focus on developing more effective and advanced devices are other factors expected to fuel market growth during the forecast period. However, factors such as high cost of leadless pacemaker systems, low adoption of advanced systems and devices in developing countries owing to budget restraints, and shortage of well-trained medical staff in many small to medium hospitals and care centers are expected to limit the adoption of these devices and hamper revenue growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Atrial Fibrillation Segment To Register Rapid Revenue CAGR:
The atrial fibrillation segment is expected to register rapid revenue CAGR between 2021 and 2028. Increasing elderly population, high prevalence of atrial fibrillation among the global population, and rapid advancements in pacemaker systems are some key factors expected to drive revenue growth of the segment during the forecast period.
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Hospitals & Clinics Segment to Account for largest Revenue Share:
The hospitals and clinics segment is expected to account for largest revenue share during the forecast period. Revenue growth of the segment can be attributed to factors such as increasing prevalence of cardiovascular diseases, rising number of patient admissions in hospitals and clinics, improving healthcare infrastructure, and availability of superior quality of treatment with favorable insurance and reimbursement policies for surgeries.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to increasing prevalence of cardiovascular diseases, rapid advancements in pacemaker technology, presence of well-developed healthcare infrastructure, and rising preference for minimally invasive surgeries and treatment. In addition, high disposable income, presence of leading pacemaker manufacturers, favorable reimbursement scenarios, and increasing investments in the development of advanced devices are other factors expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- Abbott Laboratories
- Medtronic PLC
- EBR Systems, Inc.
- Boston Scientific Corporation
- Biotronik
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For the purpose of this report, Emergen Research has segmented the global leadless pacemaker systems market on the basis of product type, application, technology, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Micra Transcatheter Pacing System
- Nanostim Leadless Cardiac Pacemaker
Application Outlook (Revenue, USD Billion; 2018–2028)
- Atrial Fibrillation
- Sinus Node Dysfunction
- Atrioventricular Block
- Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Single Chambered
- Double Chambered
- Subcutaneous ICD Leadless Pacing
End Use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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