Global Temporary Cardiac Pacing Wires & Leads Market: Overview
Temporary cardiac pacing is used when a patient’s heart beat slows down and cannot maintain the cardiac output. In temporary cardiac pacing, the pacing wire and leads are connected to the epicardium in the heart, which is present on the atrium and ventricle. They are exposed through the chest wall.
Global Temporary Cardiac Pacing Wires & Leads Market: Key Trends
The global temporary cardiac pacing wires & leads market is primarily driven by an increase in the prevalence of cardiovascular disorders, rise in the geriatric population, and increase in the number of cardiac surgeries. Also, increase in lifestyle disorders such as obesity and increase in disposable income are key factors likely to boost the growth of the global temporary cardiac pacing wires & leads market during the forecast period. Furthermore, a rise in the adoption of technologically advanced health care devices and advancements in health care are projected to boost the growth of the global market in the next few years. Cardiovascular diseases (CVDs) cause a significant number of deaths across the world each year. According to World Health Organization (WHO) estimates, cardiovascular diseases accounted for 17.3 million deaths in 2008, and the number is likely to increase to 23.3 million by 2030. Low- to middle-income countries accounted for 80% of the deaths caused by CVDs globally. CVDs account for 64% of all the cardiovascular deaths and are among the leading cause of death and major cause of loss of quality of life among men and women. Furthermore, existing market players are deploying advanced techniques and strategies to develop novel processes for manufacturing technologically enhanced temporary cardiac pacing wires & leads. This is anticipated to propel the demand for temporary cardiac pacing wires & leads during the forecast period. However, the high cost of temporary cardiac pacing wires & leads and lack of reimbursement policies in emerging nations are expected to restrain the growth of the market in the next few years.
Global Temporary Cardiac Pacing Wires & Leads Market: Segmentation
The global temporary cardiac pacing wires & leads market can be segmented based on product, application, technique, age group, end-user, and region. Based on product, the market can be bifurcated into cardiac pacing wires and cardiac pacing leads. The cardiac pacing wires segment can be further sub-segmented into unipolar temporary pacing wires, bipolar temporary pacing wires, and quadripolar temporary pacing wires. The cardiac pacing leads segment can be further divided into temporary unipolar pacing leads, temporary bipolar pacing leads, bipolar pacing leads with flexible ends, and bipolar pacing leads with balloons. In terms of application, the market can be classified into cardiothoracic surgeries, acute myocardial infarction, bradycardia, heart blocks, sick sinus syndrome, and congestive heart failure. Based on technique, the market can be categorized into epicardial pacing, transvenous pacing, and transcutaneous pacing. In terms of age group, the market can be segmented into pediatric and adult. Based on end-user, the market can be divided into hospitals, clinics, catheterization labs, and ambulatory surgical centers.
Global Temporary Cardiac Pacing Wires & Leads Market: Regional Analysis
In terms of region, the global temporary cardiac pacing wires & leads market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a leading share of the global market in 2017 due to soaring obesity rates, high geriatric population, and adoption of technologically advanced health care devices. The regions also show high awareness levels and affordability, which would continue to drag the growth of the market. In addition, increase in the prevalence of cardiovascular disorders and presence of a large number of manufacturers in the region are expected to boost the temporary cardiac pacing wires & leads market in North America during the forecast period. Asia Pacific and Latin America are highly potential market, owing to the rapidly evolving medical tourism industry, unmet medical needs of the population, rise in awareness levels and increase in the purchasing power of the people in these regions.
Global Temporary Cardiac Pacing Wires & Leads Market: Competitive Landscape
Key players operating in the global temporary cardiac pacing wires & leads market include Becton, Dickinson and Company (C.R. Bard), Abbott Laboratories (St. Jude Medical), Vance Street Capital LLC (A&E Medical Corporation), Medtronic Plc., B. Braun Melsungen AG, Teleflex Incorporated, Edwards Lifesciences Corporation, Oscor Inc., Osypka AG, and BioTrace Medical Inc.
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.