Award winning consulting firm Fact.MR’s ongoing study on the global transcatheter pacing systems market projects a relatively stable growth outlook through 2021, as fast track product approvals by regulatory authorities are expected to gather pace. Long-term growth prospects appear equally promising, with preference for minimum-trauma inducing surgeries becoming highly popular amongst patients.
According to the study, growth is majorly underpinned by a growing prevalence rate of arrhythmias. Since the past two decades, global prevalence of atrial fibrillation, the root cause of arrhythmias, surged by 33%, taking the total count up to over 37 billion cases worldwide. The highest burden is visible across countries with a high socio-demographic index. It is expected that this burden is poised to increase by over 60% until 2050.
Manufacturers are expected to find immense growth prospects in the management of right ventricular arrhythmias. Prominent medical devices manufacturer Abbott, for instance, offers the Assurity MRITM pacemaker, offering an MR conditional system, without compromising on device performance or longevity. It is also one of the world’s smallest wireless MRI pacemaker, which reduces patient trauma, and has led to a 27% reduction in all-cause mortality since 2013.
“Heightened budgetary allocation to promote medical equipment manufacturing is encouraging players to introduce highly sophisticated transcatheter pacing system devices, especially in developing regions, attributed to high cardiac disorders prevalence rates,” says the Fact.MR analyst.
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Transcatheter Pacing System Market: Segmentation
The global transcatheter pacing system market can be segmented on the basis of application and end user.
Based on application, the global transcatheter pacing system market is segmented as:
- Atrioventricular Block
- Sinus Node Dysfunction
- Atrial Fibrillation
Based on end user, the global transcatheter pacing system market is segmented as:
- Ambulatory Surgical Centers
Key Takeaways from Fact.MR’s Transcatheter Pacing Systems Study
- Treatment for atrial fibrillation to stimulate high transcatheter pacing demand through 2021
- Right ventricle implants to experience maximum growth, attributed to high prevalence rate of right ventricular arrhythmias
- By end-user, hospitals are likely to remain the primary utilizers of transcatheter pacing systems
- FDA approval of nano-sized transcatheter pacing systems to widen US growth prospects
- UK to witness high sales amid efforts to rein in incidences of out-of-hospital cardiac arrest (OHCA)
- Increasing emphasis on medical technology innovation to seal Germany’s elevated share in the transcatheter pacing systems market
- Domestic equipment production to account for over a third of total sales across France
- India to witness high sales, attributed to wider financial allocation for medical equipment production in the 2020-21 Union Budget
Transcatheter Pacing Systems Market- Prominent Drivers
- Rising demand for minimally invasive surgeries to accelerate transcatheter pacing systems sales
- The advent of nanotechnology is likely to open new frontiers for wireless transcatheter pacing implants
- Leadless pacing systems to offer credible expansion opportunities, owing to its high MRI compatibility
Transcatheter Pacing Systems Market- Key Restraints
- Strict regulatory approval procedures across several countries are delaying entry of new transcatheter pacing systems, restraining growth
- Heightened maintenance costs due to its sophisticated nature to limit uptake across small and medium-sized healthcare institutions
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Key players profiled by Fact.MR in its transcatheter pacing systems market report include: Medtronic Plc., Boston Scientific Corporation, EBR Systems, Lepu Medical, Nanostim, EBR Systems, WL Gore & Associates, Edward Lifesciences Corporation, Abbott Laboratories, Cardinal Health and Getinge AB among others. Primary expansion strategies include capacity enhancements through mergers, acquisitions and partnerships, new product launches and strengthening R&D capabilities.
Medtronic Plc., for instance, manufacturers the MicraTM AV and Micra VR Pacemakers. These are considered to be the world’s smallest transcatheter pacing systems used for bradyarrhythmia management, delivered percutaneously via a minimally invasive approach without the use of leads. It further eliminates pocket related complications, including infection, hematoma and erosion.
Certain manufacturers produce transcatheter pacing systems for specific therapeutic approaches. For instance, EBR Systems specializes in cardiac resynchronization therapy (CRT), for which it offers the WiSE CRT System, providing a wireless left ventricle stimulation, endocardial pacing and tailored therapy to meet patient needs.
More Insights on the Transcatheter Pacing Systems Market
In its latest report, Fact.MR offers unbiased analysis of the global transcatheter pacing systems market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (atrioventricular block, sinus node dysfunction & atrial fibrillation) and end user (hospitals, clinics, and ambulatory surgical centers) across seven regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ and Middle East & Africa)
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