SEATTLE, May 22, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global implantable cardiac pacemaker market was valued US$ 4.7 billion in 2017 and is projected to exhibit a CAGR of 7.1% over the forecast period (2018 – 2026).
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Key Trends and Analysis of the Implantable Cardiac Pacemaker Market:
Increasing research and development in implantable cardiac pacemakers by various private manufactures and research organizations is expected to drive growth of the market. Future developments of implantable cardiac pacemakers are expected to be integrated with technologies to improve cardiac efficiency and cardiac synchronization, along with growing demand for battery-less cardiac pacemakers and for reduced pacemaker hardware in order to minimize valve infection and device-associated infection. Besides, magnetic resonance imaging (MRI)-safe implantable pacemakers and integration of remote monitoring allows to collect patient’s information to physicians enabling better patient care with minimum clinic visits and reduced care delay.
Furthermore, the manufacturers of implantable cardiac pacemakers are updating their product portfolio by implementing inorganic growth strategies to sustain their foothold in the market. In April 2016, Medtronic plc received U.S.FDA approval for the world's smallest pacemaker, the Medtronic Micra Transcatheter Pacing System (TPS). The Micra TPS is based on miniaturized pacing technology, which allows it to be delivered through a catheter and implanted directly into the heart. In November 2017, LivaNova PLC and MicroPort Scientific Corporation entered into a binding Letter of Intent (LOI) to sell LivaNova’s Cardiac Rhythm Management (CRM) business franchise to MicroPort for US$ 190 million.
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Key Takeaways:
- Implantable cardiac pacemaker market is projected to witness CAGR of 7.1% during the forecast period (2018–2026), owing to increasing advancement in the field of implantable cardiac pacemakers.
- Advancement in technologies along with rising prevalence of cardiovascular disease such as atrial fibrillation, arrhythmia, long QT syndrome, tachycardia, bradycardia, among others, globally is expected to propel the demand for implantable cardiac pacemakers.
- Major players operating in the global implantable cardiac pacemaker market includes 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.
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