The new report on the global Diaphragm Pacing Therapy System Market 2020 –2027 gives detailed insights on the overall market dynamics such as market diversification, market penetration, product developments, and competitive assessment. The report also includes an analysis of COVID-19 impact on the overall market growth in terms of size, share, drivers, opportunities, and trends.
The global diaphragm pacing therapy system market was valued at USD 4.9 million in 2019 and size is predicted to reach USD 7.57 million by 2027 to grow at a CAGR of 5.6% from 2020 to 2027. according to the latest report by Polaris Market Research Increasing incidences of amyotrophic lateral sclerosis (ALS) is the major factor expected to propel the demand for the global diaphragm pacing therapy system market. Rising cases of COVID-19 have led to the adoption of a diaphragm pacing therapy system for treating COVID-19 patients, where mechanical ventilators are limited, fueling the growth of the global market. An increasing complication of Invasive Mechanical ventilation (IMV) which leads to muscle atrophy, lung injury, and infection is complementing market growth globally. Moreover, favorable government policies for the adoption of such a therapy system and approval of new products surge the market growth.
Diaphragm Pacing Therapy System Market Key Highlights :
Largest Share Holder: The external diaphragm pacemaker segment witnessing immense growth and accounted for the largest share of the global diaphragm pacing therapy system market. This growth is attributed to the increasing adoption of such therapies for the treatment of cervical spinal cord injury and congenital central hypoventilation syndrome.
Major Revenue Generator: The spinal cord injury (SCI) emerging as the major market segment generated the highest revenue and is expected to do so in the near future. An increasing number of patients suffering from spinal cord injuries due to accidents, major crashes, and recreational activities are driving the demand for the global diaphragm pacing therapy systems market.
COVID-19 Effect: The major outbreak of COVID-19 has resulted in heavy usage of mechanical ventilators which is anticipated to boost the demand for the market. The demand is attributed to a continuous rise in the requirement for ventilation necessary during respiratory care for COVID patients.
Recent Development: Lungpacer Medical received FDA approval in the US for the adoption of a diaphragm pacing therapy system as a support to the treatment for COVID-19 patients. Such devices can be used as a substitute for mechanical ventilator in case of unavailability for patients with the diaphragm and phrenic nerves, supporting the overall market growth.
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Some of the major companies profiled in this study include:
Avery Biomedical Devices, Inc., Lungpacer Medical, Atrotech, Synapse Biomedical, and among others, are some of the key players operating in the global market. For instance, in April 2020, Lungpacer Medical got the U.S. FDA early market access clearance for the diaphragm pacing therapy system to assist in treating COVID-19 patients. These devices can be used as a substitute to the mechanical ventilator for patients with phrenic nerves, and diaphragm. Such initiative by the key market players helps them to increase their market share in the competitive market of Diaphragm Pacing Therapy System, globally.
Regional Growth & Trend Analysis :
North America is dominating the global diaphragm pacing therapy system market and is projected to continue its dominance owing to increasing cases of amyotrophic lateral sclerosis, improved health care system, and the presence of leading players in the region. Asia Pacific region is expected to grow at a rapid pace on account of technological advancements in the field and growing demand for therapy systems in major emerging countries such as China and India. In addition to this, increasing per capita income and positive government initiatives further driving the market growth. The number of COVID-19 cases is rapidly increased in major economies such as the US and India. This key factor is anticipated to accelerate the demand for the diaphragm pacing therapy system market in these countries.
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Table of Contents
Diaphragm Pacing Therapy Systems Market Insights
Diaphragm Pacing Therapy Systems Market Assessment by Product
- External Diaphragm Pacemaker
- Diaphragm Pacemaker
Global Diaphragm Pacing Therapy Systems Market, by Application
- Amyotrophic lateral sclerosis (ALS)
- Spinal cord injuries (SCI)
Diaphragm Pacing Therapy Systems Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, South Korea)
- Latin America (Brazil, Mexico)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Tables
Table 1 Global Diaphragm Pacing Therapy Systems Market, By Product, 2016 – 2027 (USD Million)
Table 2 Global Diaphragm Pacing Therapy Systems Market, By Application, 2016 – 2027 (USD Million)
Table 3 Diaphragm Pacing Therapy Systems Market Assessment, By Geography, 2016 – 2027 (USD Million)
List of Figures
Figure 1 Market Highlights (2019, Revenue)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top Down & Bottom Up Approach
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