The Leadless Pacing System Market is expected to be unstoppable shortly. The upcoming period is there to dwell on predictive analytics. As such, vital information of patients through lab results and prescriptions could be easily accessed and the subsequent course of action could be decided upon. This effective streamlining of the hospital workflows is expected to help a great deal in reducing duplication of patients’ data. This is how the healthcare vertical is expected to progress.
According to the latest market report published by Persistence Market Research titled ‘Leadless Pacing Systems Market: Global Industry Analysis (2012 – 2016) & Forecast (2017 – 2025),’ the market is poised to expand at a CAGR of 10.0% in terms of value over the forecast period (2017–2025).
The overall market is anticipated to grow 2.15x in terms of value over the forecast period of 2017–2025. Certain factors such as rise in the number of eligible patients, increasing reimbursement scenario, rising disposable income, preference for new technology, growing geriatric population, rising number of cardiovascular diseases and increasing number of medical insurers is expected to support market growth over the forecast period.
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Company Profiles
- Abbott Laboratories
- Medtronic Plc
Revenue growth is also supported by several technological benefits of leadless pacing systems over traditional pacemaker systems. The report analyzes the leadless pacing systems market in terms of value (US$ Mn) by application type, end user and region.
The report also provides information regarding market dynamics, macro-economic factors, opportunity analysis, pricing analysis, regulations, competitive landscape, regional volume analysis, current trends, market estimation and forecast, technology assessment and major deals in the leadless pacing systems market.
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Segmental Forecast
The global leadless pacing systems market is expected to exceed US$ 63.5 Mn by 2025, attesting the highest growth of the atrial fibrillation application segment, which is expected to expand at 10.1% CAGR over the forecast period. Atrial fibrillation segment will dominate the market in terms of value. In the end user segment, hospitals represent more than 85% of the market share.
In terms of value, the North America regional market holds the highest share in the global market followed by Europe. This is because of higher demand in these regions, product affordability and a favorable reimbursement scenario.
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Middle East & Africa represents a significant market share in the global leadless pacing systems market given the historical acceptance in the number of procedures for leadless pacing technology over traditional pacemakers.
In terms of growth rate, Europe leads with a CAGR of 11.2% followed by Asia Pacific with an increasing product acceptance. Latin America is anticipated to have the least market size over the forecast period. The global market for leadless pacing systems is anticipated to expand at a significant growth rate over the forecast period providing good growth opportunities for market players.
Key Research Findings
Demand for leadless pacing systems is anticipated to remain high through 2025, registering a CAGR of 10.0% over the forecast period owing to the rising number of cardiovascular diseases and increasing pacemaker implant rate
Due to the technical advantages of leadless pacing systems, this product segment is anticipated to absorb significant market size in the single chamber ventricular pacing systems market
The higher pricing of leadless pacing systems than normal pacemakers is a major limiting factor in the leadless pacing systems market
There are only two companies with their products commercially approved by regulatory bodies while some other companies have their products still in the development phase. Medtronic plc. is the only company with FDA approval
Acquisitions, mergers, expansions, product approvals, product launches and adoption of new technologies are the key strategies adopted by manufacturers and integrators for technology transfer and to increase consumer base in different geographies
North America is anticipated to remain the largest consumer base for leadless pacing systems owing to a higher acceptance rate and a favorable reimbursement scenario
Several opportunities are available for companies to improve their product penetration such as development of dual chamber and multi chamber pacing, providing professional education & training, distribution reach etc.
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