Orbis Research add’s New Report Global Leadless Cardiac Pacemaker Market– Growth, Trends and Forecasts (2017-2022) enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage.
Global Leadless Cardiac pacemakers (LCP) are expected to change the cardiac rhythm management (CRM) market in the coming years with its potential to reduce complications, and shorter recovery times. In the near future, i.e., by 2016 the worldwide pacer market is expected to reach $3.8 billion, where leadless cardiac pacer market opportunity is more than 2x current expectations.
Pace maker is a small medical device that uses electrical impulses, synthetically produced by its electrodes, to regulate the beating of heart at a normal rate. Pacemakers are implanted in the chest with a minor surgery. They are usually recommended for certain heart conditions like Arrhythmia, Tachycardia and heart block, to name a few. Leadless cardiac pacemaker is designed to achieve the same pacing results but the process for implanting is different from standard pacemakers. For a standard pacemaker, a surgical pocket is created to implant the pacemaker, leads are then attached to the pacemaker. Leads are thin, soft, insulated wires that carry the electrical impulse from the pacemaker to the heart and pace the heart. Leadless pacemaker doesn’t require any surgical pocket or leads. This is of a commercial advantage.
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A study shows that if about 200,000 people of a country are living with pacemakers, 20-30% of them are using single-chamber ventricular pacemakers. Evaluation studies of LCP, a single chamber ventricular pacemaker shows that it is safe and has long term performance and can replace the traditional pacemakers.
The data that supports the use of leadless pacemakers has been reported in LEADLESS II trial conducted in Europe. The Nanostim pacemaker was tested in 33 patients and the implant success rate for these patients was reported to be 97%. The device is currently approved in Europe. However, the LEADLESS Pacemaker Observational Study, a post-market study was designed to build additional evidence to support the safety profile of the Nanostim pacemaker. Further to this, the study is being carried out in 56 centers in US, Canada, Australia and Asia.
The cost of Nanostim pacemaker is expected to be three times more than the standard traditional pacemakers but the market turn-over is relatively high and gearing up because of its strong safety and performance profile.
The major players in the market are St. Jude Medical and Medtronic. The St. Jude Medical Nanostim device and the Medtronic leadless pacemaker device kept the revenue growth momentum going.
The major factors driving the leadless pacemakers (LCP) market are aging population, increase in the incidences of heart diseases, and technological advancements.
In addition, other important factors like avoidance of lead-related complications, avoidance of pocket-related complications such as infection and disfigurement, MRI compatibility and no postoperative mobility restrictions add advantage to these leadless pacemakers in market. They are retrievable for a longer time interval, post implantation which is expected to create substantial opportunities in market.
This includes a need for learning new catheter-based delivery system insertion techniques and certain reimbursement hurdles. Also, there is a limited use of single-chamber right ventricular pacing mode capability while the recommended one is dual-chamber pacing. The miscellaneous cost of a leadless pacemaker implantation exceeds $4,000 in addition to the device itself.
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What the report offers?
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the Leadless Cardiac Pacemaker Market in Healthcare Industry, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5)Identification and analysis of the Macro and Micro factors that affect the Leadless Cardiac Pacemaker Market in Healthcare Industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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