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 study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.