According to a new report published by Allied Market Research, titled, “Transcatheter Cardiac Pacemaker Market: Global Opportunity Analysis and Industry Forecast, 2020-2027” A cardiac pacemaker is an electronic device positioned in the chest or upper abdominal region that regulates the abnormal heart rhythms. It uses electrical pulses and carries them throughout the cardiac muscles, prompting the cardiac contraction facilitating blood flow and thus aids in normalizing the heartbeat. Sinus node is the natural pacemaker present in the heart which is also a major component of cardiac conduction system that controls the heart rhythms.
Pacemakers are widely utilized for treatment of arrhythmias that are problems associated with abnormal rate of cardiac rhythms. In arrhythmia, the heart is not able to sufficient blood to various body organs. This leads to health concerns such as difficulty in breathing, fatigue and even fainting. Severity of arrhythmias can further affect the function of clinical body organs and damage them resulting into unconsciousness and even death. A cardiac pacemaker is helpful in treatment of arrhythmias and provides relief from fatigue and fainting and further can also help individuals suffering from arrhythmia in monitoring cardiac health and record electrical activity and rhythms of heart.
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COVID-19 Scenario Analysis
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
- In addition, it has been observed after some research that people with prevalence of cardiac diseases are at higher risk for mortality and morbidity related to COVID-19 compared to the average population
- Recent studies have also revealed that COVID-19 can cause heart injury, even in people without heart abnormalities
- Henceforth, patients and the cardiac arrest treatment industry is facing struggles amid COVID-19 pandemic
- Due to diversion of medical field towards treating COVID-19,the funding to R&D activities related tocardiac diseases has been reduced, manufacture of ventilators essential for COVID-19 treatment has been prioritized and as a result, this segment have to face negligence subsequently causing negative impact on transcatheter cardiac pacemaker market
Major drivers for the transcatheter cardiac pacemaker include technological advancements in cardiac pacemakers, growing prevalence of cardiovascular diseases including coronary artery diseases, heart failures, and hypertension and increase in number of cases of aortic disorders in geriatric population. The aging global population in countries like the U.S., Europe and Japan and other developed countries is expected to rise from 760 million i.e. 11% in 2011 to 2 billion i.e. 22% by 2050. Aging populace surges the demand for minimally invasive surgeries pertaining to the risk of complications in surgery. Additionally, aortic valvular disease accounts for most common causes leading to operative procedure or transcatheter valve replacement in the European region. Thus, due to these factors, transcatheter heart valve replacement market would witness tremendous growth in coming years.
Favorable reimbursement scenario pertaining to Medicaid plans, Medicare and insurance claims sponsored by the regulatory authorities for the patients further increase the affordability of these transplant surgeries and thus, fueling the treatment rate for valvular diseases. Further, the Micra Transcatheter Pacing System offered by Medtronic is covered under Coverage with Evidence Development (CED) are contributing to this market growth.
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The key players profiled in this report include Medtronic PLC, Edward Lifesciences, Boston Scientific, W.L Gore & Associates Inc., Abbott, Cordis, Lepu Medical, Getinge AB, St. Jude Medical and EBR Systems.
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- This study presents the analytical depiction of the global transcatheter cardiac pacemaker industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global transcatheter cardiac pacemaker market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global transcatheter cardiac pacemaker market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global transcatheter cardiac pacemaker market analysis based on competitive intensity and how the competition will take shape in coming years.
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