Leadless Pacing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Leadless Pacing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : August, 2020 | Healthcare IT | PPT format

Report Digest


Global Leadless Pacing Systems Market: Snapshot

The global market for leadless pacing systems has been growing on account of the advancements in the field of cardiology across the globe. Although leadless pacing systems are a relative new product in the market for cardiovascular treatment devices, they are expected to supersede the demand for all other kinds of cardiovascular devices. Pacemakers that use lead have led to complications during the treatment process, mostly due to the injection of leads into the body. Hence, by nature itself, leadless pacing systems are a more convenient mode of treatment for cardiovascular devices. The tremendous investments in healthcare made by a multitude of international bodies are projected to enhance the growth prospects of the global leadless pacemaker systems market.

The medical fraternity has witnessed a boisterous rate of growth, and the cardiovascular department has been at the fore of this development. As cardiologists approve the use leadless pacing systems and international health organizations reveal their usefulness during treatments, the demand within the global market is expected to escalate. Besides this, several new and more effective models of leadless pacing systems such as the micra transcatheter pacing system have been invented in recent times. The success of such pacing systems has had a positive impact on the growth of the global market for leadless pacing systems.

The expertise of the medical experts and cardiologists in the US and Canada is expected to boost the demand within the market for leadless pacing systems in North America. Furthermore, the large market gap for cardiac devices in Asia Pacific is expected to contribute to the growth of the regional market for leadless pacing systems.

Global Leadless Pacing Systems Market: Overview

Leadless pacing systems are a novel technology in the cardiac pacemaker market, which are small in size as compared to traditional pacemakers. The absence of lead eliminates the potential complications which occurs in patients on whom the lead devices are used. Leadless pacing systems are considered to be less invasive as patients who require pacemakers do not require surgery as opposed to traditional pacemaker procedures. Leadless pacing systems are implanted close to the outer surface of the upper thigh through a window and the retrieval of these devices also possible without causing any complication. It is predicted that the demand for leadless pacing systems will increase in the near future on account of the high implant success rates.

As of now, the market for leadless pacing system comprises of just two products that have received commercial approval. The names of these two products are: Micra Trans catheter pacing system by Medtronic plc and Nanostim leadless pacing system by St. Jude’s Medical (now Abbott).

Global Leadless Pacing Systems Market: Drivers and Trends

One of the key factors boosting the global leadless pacing systems market is the growing number of eligible patients, rise in the disposable income of the people, growing acceptance of new technology, Improvement in the rainbow swim policies, rapidly growing geriatric population, and Rising incidences of cardiovascular diseases. Technological advancements such as long battery life, relief from frequent pacing, and the less-invasive approach are some of the other factors propelling their use. On the other hand it is expected that strict regulatory approval system will hamper the growth of this market. The high cost of production is yet another factor posing a challenge for the growth of the leadless pacing systems market. There are very limited operators with hands-on experience and this is also expected to be a challenge. In addition to this, battery depletion issues will also act as an obstacle for the leadless pacing systems market. However, immense growth opportunities lies in the future as market players are anticipated to direct their efforts to improve the product and come up with innovations such as dual chamber and multi-chamber pacing.

In terms of application, this market is segmented into atrioventricular block, sinus node dysfunction, and atrial fibrillation. Of these, it is the latter that is witnessing highest demand for leadless pacing systems, followed by the sinus node dysfunction.

Global Leadless Pacing Systems Market: Regional Analysis

On the basis of geography, North America is leading in the market followed by Europe on account of increasing affordability of these products as well as favourable reimbursement scenario. The only adoption of latest technology is yet another factor behind the growth of the North America market for leadless pacing systems. It is expected that the market for leadless pacing system will also be lucrative in the Middle East and Africa. In addition to this region, Asia-Pacific is also holding in men's potential for growth on account of the growing improvements in Healthcare sector and advancements of healthcare facilities. Latin America on the other hand, presents the smallest market for leadless pacing systems.

Key Players

The report profiles the leading players operating in the global leadless pacing systems market such as Medtronic plc. and Abbott Laboratories. Boston Scientific Corporation and Biotronik are also profiled in the report. Key players within the market are employing the strategy of acquiring and merging with others as well as on getting product approvals from the various regulatory bodies. Players are also focusing on technical advancements so as to stay ahead of competition and make a mark for themselves in the global leadless pacing systems market. The report also reveals the various strategies employed by key players in order to expand their reach and gain more market shares.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.