Cardiac Pacemaker Market Is Growing With the Increasing Incidence of Cardiovascular Diseases

 

Active implantable medical devices, such as cardiac pacemakers, are medical devices designed to be introduced totally or partially into the human body for diagnostic or therapeutic purposes. A cardiac pacemaker is a small, battery-operated device that helps to regulate the heart rate. A cardiac pacemaker senses when the heart beats irregularly or very slowly and helps the heart beat regularly. In the past, Magnetic resonance imaging (MRI) was not allowed in patients with implanted cardiac pacemakers. However, technological advancements have made it possible. MRI can now be safely performed in patients with cardiac pacemakers. In the United States, many medical device companies have received Food and Drug Administration (FDA) approval and have launched pacemakers that are MRI compatible.

Market Dynamics:

With the increasing incidence of cardiovascular diseases (CVDs) worldwide, the demand for cardiac pacemaker is also increasing, driving the growth of the Cardiac Pacemaker Market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide. Moreover, according to the American College of Cardiology, in the U.S., coronary events were expected to occur in around 1,055,000 individuals in 2019, including 720,000 new and 335,000 recurrent coronary events.

Furthermore, technological advancements in cardiac pacemakers and increasing adoption of technologically advanced products are expected to offer lucrative growth opportunities for players in the cardiac pacemaker market. For instance, in October 2020, Medtronic launched the Azure pacemaker with BlueSync technology, only pacemaker that can communicate directly with patients’ smartphones and tablets. Azure is designed to accurately detect and reduce the likelihood of atrial fibrillation.

Asia Pacific is expected to witness robust growth in the cardiac pacemaker market due to increasing prevalence of cardiovascular diseases and growing adoption of technologically advanced products in the region. For instance, in Chine, more than 700 patients have been implanted with the world's smallest leadless cardiac pacemaker (FDA-approved), which was officially launched in the market by Medtronic in January 2020.

Competitive Analysis:

Major players operating in the cardiac pacemaker market are Medtronic, Cordis Inc., Qinming Medical, LivaNova PLC, BIOTRONIK, Inc., Lepu Medical Technology Co Ltd., MEDICO S.p.A., Shree Pacetronix Ltd., Vitatron Holding B.V., Abbott Laboratories, and Boston Scientific Corporation.

Major players in the market are adopting various inorganic strategies to strengthen their product portfolio or market position. For instance, in July 2020, Abbott secured approvals from the FDA for its new generation of connected pacemakers and defibrillator implants.

In January 2019, Medtronic launched MyCareLink Heart mobile app to support the world's first and only portfolio of pacemakers that can communicate directly with patients' smartphones and tablets.