Global Leadless Cardiac Pacemaker Market: Overview
Leadless cardiac pacemaker is a type of a medical equipment that is utilized for treating patients suffering from heart related issues such as arrhythmias. It is a medical device that utilizes electrical impulses, which are artificially generated by its electrodes. These artificial electrical impulses help in regulating the heart beat at normal state. This equipment is generally suggested for people suffering from heart conditions such as tachycardia, arrhythmia, and heart block among others. Leadless cardiac pacemaker is specially designed to deliver similar pacing results. However, the procedure of implantation of this type of pacemaker is slightly different from the regular ones. For a regular pacemaker, a surgical pocket needs to be created for implantation. Later, leads are attached to it. However, for leadless cardiac pacemaker, no such surgical pockets are required, nor does it require any later leads attachments.
The pacemaker is projected to have a considerable impact on the global cardiac rhythm management (CRM) market over the next few years. Leadless cardiac pacemakers have a huge potential to cut down the complications related to heart surgeries and also provide shorter recovery periods.
Global Leadless Cardiac Pacemaker Market: Notable Developments
Some of the key developments in the global leadless cardiac pacemaker market are given below:
- Micra and Nanostim are projected to remain the major selling products in the global market for leadless cardiac pacemaker over the course of the given forecast period of 2019 to 2027.
- Micra TPS and Nanostim are the two important innovations in the global market. Both the pacemakers are single-chambered and are implanted directly in the heart. Both of them have a steerable catheter and is inserted through the femoral vein. The biggest advantage of these two pacemakers is the shorter procedure time. For both Nanostim and Micra TPS, the procedure time lasts somewhere around 30 to 45 minutes, which is considerably lower than the procedure time of conventional pacemakers.
- In 2017, Abbott Inc. recalled their leadless pacemakers from the market on account of the reports of sudden depletion of batter. In addition to this, in November of the same year, Abbott issued a stop on the implantations of Nanostim pacemakers. The company cited that the pacemakers had docking button issues. The stop continued till March 2018. However, after fixing the issued, the company relaunched the device.
Identify the Key Factors that will drive your Company’s Growth. Request a Brochure of this Report here
Global Leadless Cardiac Pacemaker Market: Drivers and Restraints
There are several factors that are influencing the growth of the global leadless cardiac pacemaker market. Some of these factors are listed below as follows:
- The key driving factors for the growth of the global leadless pacemaker market are growing geriatric population, recurring issues related to heart, and advancements in technology related to pacemakers.
- In addition to this, there are other key factors that are positively influencing the growth of the global leadless cardiac pacemaker market. The factors such as use of these devices cut down the pocket-related and lead-related complications, offers MRI compatibility, and no restrictions on mobility post operations. All these factors are driving the uptake of devices in the leadless cardiac pacemaker market.
Expanding Operations in Future? To get the perfect launch ask for a Custom Report here
Global Leadless Cardiac Pacemaker Market: Geographical Outlook
The global leadless cardiac pacemaker market is segmented into key regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these, the global market is expected to be dominated by the North America region over the course of the given forecast period of 2010 to 2027. This growth of the leadless cardiac pacemaker market is primarily attributed to the growing prevalence of cardiovascular disorders, increasing adoption of leadless pacemakers, and the easy availability of insurance reimbursements.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.