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.
Request Sample Copy of the Report @
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.
Request TOC of the Report @
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.
Read Comprehensive Overview of Report @
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.