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Leadless cardiac pacemaker are medical devices that are used for the treatment of patients which are suffering from heart related disease like brandarrhythmias and slow heart rhythm. These pacemaker are expected to change the cardiac rhythm management CRM market in the coming years with its potential to reduce complications and shorter recovery times. North America dominates the market due to people suffering from the heart disease and growing adoption of the leadless cardiac pacemaker. In December 2016 there are only two leadless pacemaker systems that are commercially available in the market having slightly different sizes and implantation requirements which are Nanostim St. Jude Medical and Micra Medtronic.
Prevalence of heart diseases
The global leadless cardiac pacemaker market is mainly driven due to the increase in the cardiovascular disease CVD in the developed nations due to the unhealthy diet, smoking, drug abuse and excessive use of alcohol or caffeine, rise in geriatric population worldwide according to the National Institute of Health NIH 8.5% of people worldwide are aged 67 and over. Avoidance of leadrelated complications as it gets absorbed in the body and stored in the bones which can result into lead poisoning. Additionally, avoidance of surgical pocketrelated complications like infection of staphylococcus aureus and MRI compatibility are driving the Global Leadless Cardiac Pacemaker Market.
The healthcare reimbursement system is a complex framework of obtaining the payment of services. Health insurance have a variety of healthcare reimbursement plans and carry contracts with individual practices and health systems which are periodically renegotiated. So, reimbursement issues are restraining the leadless cardiac pacemaker market.
Additionally, time for learning a new catheterbased delivery system insertion technique and limited use of singlechamber right ventricular pacing are also restraining the Global Leadless Cardiac Pacemaker market.
North America to Dominate the Market
The global leadless cardiac pacemaker market is segmented into type of leadless cardiac pacemaker which is further segmented into multicomponent pacemaker and singlecomponent pacemaker and by geography. By geography it is segmented into North America, Europe, AsiaPacific, the Middle East and Africa and South America.
North America is dominating the leadless cardiac pacemaker market due to the rising number of people suffering from heart related disease and adoption of leadless pacemakers in healthcare in this region.
Key Developments in the Market
March 2017: Medtronics issues medicare reimbursement for the first leadless cardiac pacemaker Mica Trans catheter Pacing System TPS which is available for use in the USA.
Key Players: ST. JUDE MEDICAL LLC ABBOTT LABORATORIES, MEDTRONICS, BOSTON SCIENTIFIC
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Current and future Global Leadless Cardiac Pacemaker Market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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