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The Leadless Cardiac Pacemaker Market is segmented by Type, Product (Micra Transcatheter Pacing System and Nanostim Leadless Pacemaker), and Geography.
Fastest Growing Market:
Leadless cardiac pacemakers are medical devices that are used for the treatment of patients who are suffering from heart-related disorders, like arrhythmias. These pacemakers are expected to transform the cardiac rhythm management (CRM) market in the coming years with their potential to reduce complications and shorter recovery times.
A pacemaker is a small medical device that uses electrical impulses, synthetically produced by its electrodes, to regulate the heart beat at a normal rate. It is usually recommended for certain heart conditions, like arrhythmia, tachycardia, and heart block. Leadless cardiac pacemaker is designed to achieve the same pacing results, but the process for implanting is different from the standard pacemakers. For a standard pacemaker, a surgical pocket is created to implant the pacemaker, and leads are then attached to the pacemaker. Leads are thin, soft, and insulated wires that carry the electrical impulse from the pacemaker to the heart and regulate the pace of the heart. However, a leadless pacemaker does not require any surgical pocket or leads.
|Multi-component Leadless Pacemaker|
|Single-component Leadless Pacemaker|
|Micra Transcatheter Pacing System|
|Nanostim Leadless Pacemaker|
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Nanostim and Micra TPS are two key innovations. Both the devices are single-chamber pacemakers placed directly into the heart with a steerable catheter through the femoral vein. The procedure times with the Micra and Nanostim devices are shorter (lasting from 30 to 45 minutes), than those with the traditional pacemakers. They are self-contained intracardiac devices that include pacemaker electronics, battery, and leads. Both devices can be implanted in the same minimally invasive setting as some traditional pacemakers. Leadless pacemakers are expected to expand their market share rapidly, by displacing traditional cardiac pacemakers, during the forecast period. However, Abbott recalled its leadless pacemakers from the market following reports of sudden battery depletion. Moreover, in November 2017, Abbott issued a halt on implantations of Nanostim pacemakers, citing docking button issues, which continued as of March 2018.
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The United States is expected to dominate the leadless cardiac pacemaker market, due to the high prevalence of cardiovascular diseases, high adoption rates of leadless pacemakers, and availability of reimbursements.
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As of March 2019, only two leadless pacemaker systems were commercially available in the market, having slightly different sizes and implantation requirements, which are Nanostim (Abbott Laboratories) and Micra (Medtronic PLC). However, Boston Scientific, one of the leading pacemaker manufacturers, has been developing its own leadless pacemaker system.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Geriatric Population
4.2.2 Avoidance of Lead-related Complications
4.2.3 MRI Compatibility
4.3 Market Restraints
4.3.1 Reimbursement Issues
4.3.2 Limited Use of Single-chamber Right Ventricular Pacing
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Multi-component Leadless Pacemaker
5.1.2 Single-component Leadless Pacemaker
5.2 By Product
5.2.1 Micra Transcatheter Pacing System
5.2.2 Nanostim Leadless Pacemaker
5.3.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Medtronic PLC
6.1.3 Boston Scientific Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments