Global Heart Blocks Treatment Devices Market 2023-2030

Global Heart Blocks Treatment Devices Market 2023-2030

Global Heart Blocks Treatment Devices Market Size, Share & Trends Analysis Report by Degree Type (First-Degree Heart Block, Second-Degree Heart Block, and Third-Degree Heart Block), by Product (Transcutaneous Pacing (TCP), Pacemaker, and Mediation), and by End-Users (Hospital Testing, Home Treatment, and Clinics), Forecast Period (2023-2030)

The global heart blocks treatment devices market is anticipated to grow at a CAGR of 5.7% during the forecast period (2023-2030). The most frequently utilized medical device used to treat heart blockages is a pacemaker. A pacemaker is a small, battery-operated device implanted beneath the chest skin. The primary driver of the market's expansion globally is the increasing use of heart block treatment devices, that is being supported by improving innovative technologies and an increase in heart blockage prevalence. According to the European Society of Cardiology (ESC) Cardiovascular Disease Statistics, in January 2022, The rates of pacemaker implantation in ESC member countries in 2018–19 ranged from 60 to 1000 per million people. Through the advancement of pacemakers, minimally invasive cardiovascular operations, and an incredibly quick rise in standard of living, the global market for heart block therapy devices is growing.

Segmental Outlook

The global heart blocks treatment devices market is segmented on the degree type, product, and end-users. Based on the degree type, the market is sub-segmented into first-degree heart block, second-degree heart block, third-degree heart block. Based on the product type, the market is sub-segmented into, transcutaneous pacing (TCP), pacemaker, mediation. Further, on the basis of end-users, the market is sub-segmented into hospital testing, home treatment, clinics. Among the end-users, the hospital testing sub-segment is anticipated to hold a considerable share of the market owing to the increase in X-ray and specific dye usage for coronary arteries. The X-ray allows the doctor to determine the location and degree of blockage in coronary arteries. It also demonstrates how efficiently your heart is beating.

The Pacemaker Sub-Segment is Anticipated to Hold a Considerable Share of the Global Heart Blocks Treatment Devices Market

Among the product, the pacemaker sub-segment is expected to hold a considerable share of the global heart blocks treatment devices market. The segmental growth is attributed to increases the uses of person’s heart rate artificially. Pacemakers provide temporary heart pacing in people with symptomatic bradycardia (symptomatic reduced heart rate). Many companies are designing home monitor interfaces that are simple to use for the older patient population, giving this demographic more autonomy and control over their health care. For instance, in May 2023, The latest line of implantable pacemakers from MicroPort® CRM, a cardiac rhythm management company, have been approved by the US Food and Drug Administration (US FDA), along with the VegaTM pacing leads, SmartTouch XTTM tablet-based programmer, and SmartView ConnectTM Bluetooth® home monitor.

Regional Outlook

The global heart blocks treatment devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia- Pacific is anticipated to hold a prominent share of the market across the globe, owing to the high frequency of heart blockages and a growing demand for therapeutic drugs to effectively treat cardiovascular disorders in the region.

The North America Region is Expected to Grow at a Significant CAGR in the Global Heart Blocks Treatment Devices Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. The regional growth is attributed to the favorable reimbursement rules, a high rate of R&D activities, easy access to modern technology, and improved awareness among patients locally. The heart block treatment devices are expanding at a rapid pace, owing to the presence of a sizable aging population and significant technological improvement in healthcare facilities. According to National Institute of Health (NIH), more than 70% of American populations having pacemakers were aged 65 years old, making up to 3 million Americans who have pacemakers live with them. The severity of the condition is differentiated by the treatment devices for first-degree, second-degree, and third-degree heart blocks. Light-headedness, syncope, angina, shortness of breath, palpitations, and weariness are common symptoms in patients with type II second degree block or third-degree block.

The high prevalence of heart blocks, rising patient demand for therapeutic drugs for effective management of cardiovascular diseases, rising patient awareness, and rising healthcare costs associated with heart-related conditions are the main drivers of growth in the North American region. According to American Health Association, an estimated 50% of those with cardiovascular disease are older than 65, just 12% of those with the condition used wearable technology. Only 14% of elderly heart disease patients adopted wearable technology, despite the fact that 22% of all heart disease risk factors are aged 65 or older.

Market Players Outlook

The major companies serving the heart blocks treatment devices market include Abbott Laboratories, Boston Scientific Corp., Edwards Lifesciences, Johnson & Johnson, Koninklijke Philips N.V., Medtronic, Inc., Lepu Medical Technology Co. Ltd. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2022, BIOTRONIK, Inc. collaborated with AliveCor as first in a series of strategic partnerships to use AI-enabled solutions to revolutionize cardiac digital health. Healthcare professionals will have access to clinically pertinent heart rhythm analysis and useful information owing to this pilot partnership as they monitor patients at risk.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global heart blocks treatment devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.