Future Scenarios and Implications for the Pacemakers Industry: Medico S.p.A., Vitatron, Abbott, Medtronic, OSCOR, LivaNova Plc, Boston Scientific Corporation, Biotronik, Pacetronix, and Lepu Medical
Product launches and agreements were observed as the most adopted strategy in global pacemakers industry. For instance, in February 2017, Abbott announced US Food and Drug Administration (FDA) approval for its Assurity MRI pacemaker and Tendril MRI pacing lead. The Assurity MRI pacemaker also offers wireless remote monitoring, providing physicians secure access to their patients' diagnostic data and daily device measurements and reducing the need for in-office visits. Moroever, in April 2018, LivaNova Plc completed its sale of cardiac rhythm management business to microport scientific corporation.
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The growth in the region is driven by the key factors such as rapid growth of medical device industries, emergence of new local players with competitive scenario among the regional players with respect to developing novel solutions
Leading Players: Medico S.p.A., Vitatron, Abbott, Medtronic, OSCOR, LivaNova Plc, Boston Scientific Corporation, Biotronik, Pacetronix, and Lepu Medical
Increasing Burden of Cardiovascular Diseases
The increasing technological advancements have opened more opportunities of developing new and innovative medical implantable pacemakers with advanced electrical properties that can improve diagnosis and treatment of previously intractable conditions such as, cardiovascular diseases that includes cardiac arrhythmia, atrial fibrillation and others. A pacemaker is an electronic device designed to produce electrical impulses to stimulate the heart when normal physiological stimulation fails. In 2017, according to the World health organization, the increasing prevalence of cardiovascular diseases is the major cause of death all over the world. Moreover, it was mentioned that 17.9 million people across the globe died due to cardiovascular diseases in 2016. Cardiovascular disease is one of the leading causes of morbidity and mortality and is responsible for 30% of worldwide mortality, according to the World Health Organization.
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