Transcatheter Pacing System Market to Expand with Significant CAGR During 2019 – 2029
Transcatheter Pacing System Market: Drivers and Restraints
The global transcatheter pacing system is witness to register increase in growth in the market owing to rising disposable income, increasing reimbursement scenario, growing geriatric population and advancement in new technology is expected to exhibit growth in the transcatheter pacing system market. In addition to this, long battery life and relief to the patient from frequent pacing and certain other factors will fuel the growth of the transcatheter pacing system market. However, high cost of the transcatheter pacing system and stringent regulatory approvals is another factor pertaining to restrain the growth of the transcatheter pacing system market. Maintenance of the system and requirement of skilled technicians adds another criteria in narrowing down the growth of the transcatheter pacing system market.
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Transcatheter Pacing System Market: Segmentation
The global transcatheter pacing system market can be segmented on the basis of application and end user.
Based on application, the global transcatheter pacing system market is segmented as:
Sinus Node Dysfunction
Based on end user, the global transcatheter pacing system market is segmented as:
Ambulatory Surgical Centers
Transcatheter Pacing System Market: Overview
The global transcatheter pacing system market is anticipated to have increase in growth in the market. Rising prevalence of heart patients globally and high usage of pacemakers is likely to exhibit growth in the transcatheter pacing system market. According to Centre for Disease Control and Prevention, an estimate of about 630,000 US population die each year from heart diseases. There has been a lot of advancement in technology whereby there occurs less complication of pacemaker. In April 2016, FDA approves first leadless pacemaker, Micra Transcatheter Pacing System by Medtronic for the treatment of patients with heart rhythm disorders. Thus, with new innovation in technology and growing demand for pacemaker will likely to foster growth in the transcatheter pacing system market.
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Transcatheter Pacing System Market: Regional Outlook
Geographically, the global therapeutic catheters market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). North America is leading the global transcatheter pacing system market owing to increase in prevalence of heart diseases among older population and increase in geriatric population. Moreover, factors such as rising advanced technology, high healthcare infrastructure is likely to intensify the growth of the transcatheter pacing system market. Europe holds significant revenue generation in the transcatheter pacing system market due to accessible of advanced treatment facilities, rising healthcare expenditure and initiative from government in various healthcare reforms. Asia Pacific also shown to have potential growth due to rising disposable income and increasing problems related to heart disorders is likely to manifest growth in the transcatheter pacing system market. Middle East and Africa has less potential in the transcatheter pacing system market as compared to other regions due to lack of proper healthcare infrastructure and poor economy may impact the growth of the transcatheter pacing system market.
Some of the key players operating in the global transcatheter pacing system market are Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc, EBR Systems, Inc., Nanostim, Inc.
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