Market Trends of Leadless Cardiac Pacemaker Industry
This section covers the major market trends shaping the Leadless Cardiac Pacemaker Market according to our research experts:
Micra Transcatheter Pacing System Segment is Expected to Witness High Growth Over the Forecast Period
The Micra, developed by Medtronic, is a single-chamber Leadless Pacemaker that is about the size of a vitamin and can be implanted directly into the heart, eliminating the need for leads to be implanted. Micra transcatheter pacing system is in high demand due to the rising burden of cardiovascular diseases, minimal post-implantation complications, and easy retrieval, which is expected to fuel the Leadless Cardiac Pacemaker Market. According to an article titled 'Epidemiology and Economic Burden of Cardiovascular Disease in Patients with Type 2 Diabetes Mellitus in Spain: A Systematic Review' published in 2021, the reported prevalence of coronary heart disease ranged from 4.7% to 37%, stroke from 3.5% to 19.6%, peripheral artery disease from 2.5% to 13.0%, and heart failure from 4.3% to 20.1%. The high incidence of cardiovascular diseases increases the demand for Micra transcatheter pacing, which, in turn, drives the growth of the Miniature Pacemaker Market. Furthermore, cardiovascular disease caused an estimated 17.9 million deaths globally and accounted for about 32% of the total deaths around the world, as per the June 2021 report of the World Health Organization. Furthermore, the data published by the European Heart Network in 2021 reported that in the European Union, more than 60 million people live with cardiovascular disease, and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Thus, the rise in cardiovascular diseases will significantly drive the growth of the studied market.
High adoption rates of government-approved Leadless Pacemaker Brands are expected to drive the market. For instance, in April 2022, Abbott launched the world's first patient implants of a dual-chamber leadless pacemaker system as part of its AVEIR DR i2i pivotal clinical study. The implant of Abbott's investigational Aveir dual-chamber leadless pacemaker represents a significant technological milestone for leadless pacing technology and is the first to occur around the world within the pivotal trial. Such approval is supposed to drive market growth.
Therefore, factors such as the rising burden of cardiovascular diseases and high government approval of Micra transcatheter pacing system are expected to drive segmental growth in the market during the forecast period.
North America is Expected to Dominate the Leadless Cardiac Pacemaker Market Over the Forecast Period
The North American region 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. Furthermore, owing to the increasing number of patients suffering from atrial fibrillation and the presence of major players in the region is also expected to propel the market growth over the forecast period. According to the 2022 statistics published by the American Heart Association, the prevalence rate of heart failure in the United States was 6 million, 1.8% of the total population, in 2021. Thus, the country's high burden of heart failure cases is expected to increase the demand for leadless cardiac pacemakers over the forecast period. Additionally, the FDA is approving leadless pacemakers from major Pacemaker Manufacturers USA such as Abbott and Medtronic to reach the United States market. According to an article published by Medical Device + Diagnostic Industry in November 2022, the FDA has approved Abbott's Aveir VR, making it the second leadless pacemaker to reach the United States market. In December 2021, the Cleveland Clinic implanted a leadless pacemaker defibrillator system, developed by Boston Scientific, in the world's first two patients as part of a global clinical trial.
An increase in clinical trials on leadless cardiac pacemakers is expected to drive the market. For instance, in March 2022, Cleveland Clinic implanted a dual-chamber leadless pacemaker system in the first patient in the United States as part of a global clinical trial, which aims to offer heart rhythm patients a more targeted approach through a less invasive procedure with fewer complications. The market under study is therefore anticipated to experience significant clinical trials throughout the forecast period as a result of the aforementioned factors.
Thus, owing to factors such as high prevalence of cardiovascular diseases, high adoption rates of leadless pacemakers, and availability of reimbursements, the Pacemaker Market is expected to project growth over the forecast period.
