Global Leadless Pacemakers Market 2023-2030

Global Leadless Pacemakers Market 2023-2030

Global Leadless Pacemakers Market Size, Share & Trends Analysis Report by Pacing Chamber (Single-chamber Pacemaker, Dual-chamber Pacemaker), By Product, (Micra Transcatheter Pacing System and Nanostim Leadless Pacemaker), by End-Use (Hospitals, Ambulatory Surgical Centers, and Others), Forecast Period (2023-2030)

The global leadless pacemakers market is anticipated to grow at a CAGR of 3.6% during the forecast period (2023-2030). One of the major factors are attributed to the market growth including the rising geriatric population, increasing prevalence of cardiovascular disease (CVDs), favorable government initiatives and policies, and the introduction of new and enhanced technological products. According to the World Health Organization, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global mortalities. Further, in November 2022, the article “Senior Population Statistics: A Portrait of Aging Americans”, reported 54.1 million adults or 16.3% of the US population are seniors including aged 65 or older. The senior population is expected to rise to 22% by 2040 and 25% by 2060. In addition, the increasing products launches to cater the demand for leadless pacemakers. In September 2023, Beebe Healthcare introduced leadless pacemaker and becomes first in Delaware to implant the device. That was exemplified when the first cardiac patient in Delaware to receive the Micra AV2 leadless pacemaker underwent the minimally invasive implantation procedure at Beebe.

Segmental Outlook

The global leadless pacemakers market is segmented by pacing chamber, product, and end-use. Based on the pacing chamber, the market is sub-segmented into single chamber, and dual chamber. Based on the product, the market is sub-segmented into micra transcatheter pacing system and nanostim leadless pacemaker. Further, based on end-use, the market is sub-segmented into hospitals, ambulatory surgical centers, and others. Where others include cardiac centers. Among the end-use, the hospitals sub-segment is anticipated to hold the largest market share during the forecast period. The large share of this segment is credited to the lower costs, higher efficiency, and availability.

The Micra Transcatheter Pacing System Sub-Segment is Anticipated to Hold a Considerable Share of the Global Leadless Pacemakers Market

Among the products, micra transcatheter pacing system sub-segment expected to grow over the forecast period. Micra is a single-chamber pacemaker specifically the size of a vitamin and can be implanted directly into the heart, eliminating the need for the leads to be implanted. The segment is driven by the owing to the increasing burden of CVDs, minimal post-implantation complications, and easy retrieval, which is projected to encourage the market. The British Heart Foundation (BHF) data published in January 2023 reported that in 2021, the most common cardiovascular conditions are coronary (ischaemic) heart disease (global prevalence estimated at 200 million in 2019), peripheral arterial (vascular) disease (110 million), stroke (100 million) and atrial fibrillation (60 million). Additionally, the report revealed that the prevalence of heart and circulatory diseases in North America was 48 million, in Europe it was 100 million, in Africa and middle east it was 98 million, in Latin America it was 48 million, and in Asia and Australia it was 340 million. Furthermore, the increasing approvals expands the number of patients who are eligible to receive the Micra TPS. For instance, in January 2022, Medtronic plc, a pioneer in healthcare technology, received approval from Japan's Ministry of Health, Labor and Welfare for the sale and reimbursement of the Micra™ AV transcatheter pacing system.

Regional Outlook

The global leadless pacemakers 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, Europe is anticipated to grow over the forecast period, owing to the growing demand for leadless pacemakers, increasing geriatric population, , increasing prevalence of CVDs, the rising healthcare expenditure, driving the leadless pacemakers market in the Europe.

The North America Region is Expected to Grow at a Significant CAGR in the Global Leadless Pacemakers Market

North America is expected to hold a prominent share in the leadless pacemakers market during the forecast period. The significant factors fueling the North America market is the rising number of CVDs across the North America is estimated to positively impact the leadless pacemakers market growth in upcoming years. According to the American Heart Association, CVDs remains as the leading cause of death in the US, accounted for 928,741 deaths in the year 2020. Additionally, the increasing number of heart-related disorders and technological advancements are further driving the market in the region. In 2020 in the US, coronary heart disease (CHD) was the leading cause (41.2%) of deaths attributable to CVD in the US, followed by stroke (17.3%), other CVD (16.8%), high blood pressure (12.9%), heart failure (9.2%).

Market Players Outlook

The major companies serving the leadless pacemakers market include Abbott Laboratories, Medtronic PLC, Boston Scientific Corp., MicroPort Scientific Corp., 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 October 2022, Ceryx Medical Ltd, partnered with Osypka medical to develop heart pacing device. Ceryx and Osypka developed a heart pacing device that changed the way patients with heart failure and other cardiac conditions are treated.

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 leadless pacemakers 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.