Implantable cardiac pacemaker is a small device implanted in the chest or abdomen for the treatment of abnormal heart rhythms, arrhythmia, heart block, and atrial fibrillation. Implantable cardiac pacemaker is evolved from battery-powered transistorized wearable pacemakers to current leadless pacemaker, an entire pacemaker which is placed within cardiac chambers. Cardiac pacemakers are used to treat abnormal electrical signaling in the heart, which causes arrhythmias. Implantable cardiac pacemaker use low-energy electrical signals to speed up the slow heartbeat, help to control an abnormal and fast heart rhythm, and prevents long QT syndrome, a disorder of the heart’s electrical activity, which causes sudden, uncontrollable, and dangerous arrhythmias.
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Market players are engaged in developing novel pacemakers with ability to control the abnormal heart rhythm, monitor and record patient’s heart's electrical activity, blood temperature, and breathing rate. Technological advances in the field of implantable cardiac pacemakers along with increasing prevalence of cardiovascular disease is projected to drive the growth of implantable cardiac pacemaker market over the forecast period.
Introduction of Advanced Pacemaker Technologies is Expected to Drive Growth of the Implantable Cardiac Pacemaker Market
Adoption of advanced technologies in cardiac pacemakers such as MRI safe-pacemakers, pacemakers with improved battery life, delay the progression of persistent Atrial Fibrillation (AF) in patients suffering from bradycardia and wireless automated technologies. This advancements are gaining significant traction of various market players of implantable cardiac pacemakers with affordable costs, which in turn are expected to drive growth of implantable cardiac pacemakers market. For instance, in February 2017, Abbott received the Food and Drug Administration (FDA) approval for its MR-conditional labeling for both of its products i.e. Assurity MRI pacemaker and the Tendril MRI pacing lead. Furthermore, introduction of advance technology such as wireless and automated pacemaker monitoring pacemakers are gaining significant traction among healthcare providers.
For instance, in 2016, Biotronik launched CardioMessenger Smart, portable monitoring device in the U.S. This system is about the size of a modern smartphone used to keep pacemaker, Implantable Cardioverter Defibrillator (ICD) and Insertable Cardiac Monitor (ICM) patients connected to their physician remotely. This CardioMessenger Smart helps to ensure patient compliance and the consistent transmission of data necessary for physicians to identify and prevent potential cardiac events. Thus, such wireless technologies are gaining traction of vendors, which is expected to drive the growth of the implantable cardiac pacemaker market
Increasing Prevalence of Cardiovascular Disease is Expected to Drive Growth of Implantable Cardiac Pacemaker Market
Increasing incidence of cardiovascular diseases is expected to boost growth of the implantable cardiac pacemakers market over the forecast period. According to the Centers for Disease Control and Prevention (CDC), August 2017 data findings, Atrial Fibrillation (AFib or AF) is most common type of heart arrhythmia, which affected an estimated 2.7 to 6.1 million people in the U.S. and the number is expected to increase in near future. Furthermore, Atrial Fibrillation cases increase with age and it is more prominent in men than women. Moreover, increasing number of geriatric population across the various regions worldwide along with high prevalence of heart disease is expected to propel demand for implantable cardiac pacemakers in the near future.
However, implantable pacemakers associated infections in cardiac patients is hindering growth of the implantable cardiac pacemaker market. Pacemaker surgery is associated with swelling, bruising, bleeding, or infection of the area where the pacemaker was placed leading to blood vessel or nerve damage and adverse reaction of medicine used during the pacemaker implantation surgery, which may reduce the adoption of implantable cardiac implants in patients.
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Global Key Players:
Some of the key players operating in implantable cardiac pacemaker market include Medtronic plc, BIOTRONIK, Inc., Boston Scientific Corporation, St. Jude Medical, Vitatron Holding B.V., Shree Pacetronix Ltd., MEDICO S.p.A., Lepu Medical Technology Co Ltd., LivaNova PLC, and Qinming Medical.
• Global Implantable Cardiac Pacemaker Market, By Product Type:
◦ Single Chamber Pacemaker
◦ Dual Chamber Pacemaker
◦ Biventricular Pacemaker
• Global Implantable Cardiac Pacemaker Market, By Application:
◦ Heart Block
◦ Atrial fibrillation
◦ Long QT Syndrome
• Global Implantable Cardiac Pacemaker Market, By End User:
◦ Emergency Care Centers
• Global Implantable Cardiac Pacemaker Market, By Region:
◦ North America
◦ Asia Pacific
◦ Middle East
◦ Latin America
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