The global transcatheter pacing system market is projected to grow at a CAGR of 15.1% during the forecast period (2021 – 2029). The growth of the global transcatheter pacing system market is driven by a rising number of patients with cardiac health problems. For patients with severe/symptomatic bradycardia, an arrhythmia characterised by an abnormally slow heart rate, traditional pacemakers have been the standard therapeutic option. The pacemaker technology has progressed significantly since 1958. The recently commercialised leadless or transcatheter pacemakers showcases a number of advantages. A transcatheter pacemaker is a small device that is placed (implanted) in the chest to help control the heartbeat. Implanting a pacemaker in the chest requires a surgical process. These devices, which are implanted wholly within the right ventricle, eliminate the need for transvenous pacing leads and pacemaker pockets, lowering the risk of infections and lead-related complications. Moreover, less invasive and shorter implantation procedure of leadless pacemakers reduces recovery time and eliminates complications related to the transvenous leads and the subcutaneous pulse generator used in traditional pacemakers. Furthermore, there is no apparent lump or scar, shoulder movement is preserved, and patients are likely to have a better quality of life as a result of the procedure. Even though real-world clinical experience with these leadless devices is limited, growing experience with them shows significant promise and expanding uses, thus indicating substantial growth prospects for global transcatheter pacing system market over the forecast period.
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The research report on Transcatheter Pacing System Market will include extensive information based on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Trends on Global Transcatheter Pacing System Market
- Exclusive Details on the Effect of the Pandemic
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product Benchmarking
- Market Share Analysis, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product benchmarking which will include comparison of different products offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding company details, company overview, product offerings, key developments, financial analysis, and SWOT analysis and business strategies.
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By Application
Bradycardia can be understood as a slower heart beat rate than a normal heart beat rate which is 60 and 100 times a minute. Bradycardia, affects people of all ages, however it is most commonly diagnosed in the elderly. Nearly 600,000 people are treated for bradycardia around the world. Transcatheter pacemakers are widely used to treat bradycardia where a leadless pacemaker, which is a small self-contained device, is inserted in the right ventricle of the heart. Currently this device is only offered to people with specific medical disorders and a sluggish heart beat (bradycardia) who require single-chamber pacing. The number of individuals who have pacemakers implanted has continuously increased over the world. The transcatheter pacemakers companies are incorporating various advanced technologies for component design, such as miniaturisation and low power usage. Despite its low profile and overall size, battery technology has improved to ensure appropriate pacemaker longevity. For instance, the Micra Transcatheter Pacing System (TPS), which was recently approved by the U.S. Food and Drug Administration, offers patients the most sophisticated pacing technology while being one-tenth the size of a typical pacemaker. Thus, as bradycardia is one of the fastest growing cardiovascular diseases, the demand for transcatheter pacing systems are increasing tremendously, thereby contributing towards the growth of global transcatheter pacing system market.
By End User
Transcatheter pacemakers are usually recommended by doctors to treat patients with bradyarrhythmias, slow heart rhythms that may occur as a result of disease in the heart’s conduction system. Currently transcatheter pacemakers are advised by the doctors to the patients with certain medical conditions and a slow heart rate (bradycardia) who need single-chamber pacing only. Highly specialized hospitals and doctors recommend transcatheter pacemakers after reviewing the medical history heart rhythm and the results of medical tests such as echocardiogram (ultrasound of the heart) or other non-invasive tests. According to the Food and Drug Administration, a clinical trial involving 719 patients implanted with Micra found 98% had adequate heart pacing six months after implantation, with complications occurring in less than 7% of trial participants. As various complications are involved in the pacemaker surgery, specialized doctors and treatments are required for surgery, hence hospitals have the highest share in the end user segment of global transcatheter pacing systems market.
By Region
Asia Pacific region is anticipated to witness fastest growth in the global transcatheter pacing system market over the forecast period. The massive investments in healthcare made by variety of international entities are expected to boost the transcatheter pacemaker systems market's growth potential in Asia Pacific. The demand for transcatheter pacemaker systems is projected to rise as cardiologists authorise their usage and worldwide health organisations demonstrate their use during treatments. Moreover, the transcatheter pacemakers implants have risen in the last few years, as the population with cardiovascular issues are rapidly increasing. In January 2022, Japan's Ministry of Health, Labor and Welfare provided approval to Medtronic plc for the sale and reimbursement of the Micra AV Transcatheter Pacing System (TPS), and the company is about to launch the product shortly. The approval has increased the number of eligible patients in Japan to receive the Micra TPS, for the treatment of patients with AV block. Such initiatives by the government and healthcare organizations are boosting the commercialization and usage of transcatheter pacing systems in Asia Pacific.
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The key market participants operating in the global transcatheter pacing system market are:
- Abbott
- Boston Scientific Corporation
- Medtronic
- Other Market Participants
Global Transcatheter Pacing System Market
- By Application
- Atrial Fibrillation and Bradycardia
- Atrioventricular Block
- Sinus Node Dysfunction
- Others
- By End Users
- Hospitals & Clinics
- Ambulatory Surgical Centers
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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