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Leadless Pacemakers Market Overview, Outlook, Size, Share, Demand 2024-2033 |
Leadless Pacemakers Market Overview
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According to The Business Research Company's, The leadless pacemakers market size has grown rapidly in recent years. It will grow from $0.51 billion in 2023 to $0.58 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to enhanced imaging and navigation systems, rise in focus on minimally invasive procedures, demand for improved quality of life, enhanced biocompatibility materials, and increased incidence of cardiovascular diseases.
The leadless pacemakers market size is expected to see rapid growth in the next few years. It will grow to $1.04 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to expanding clinical indications, aging population, increasing focus on patient safety and outcomes, growing emphasis on sustainability , increasing public awareness and education. Major trends in the forecast period include technological advancements and innovation, integration with wearable and digital health technologies, longer battery life and durability, patient-centric design and customization, collaboration and partnerships.
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Market Drivers and Trends:
The increasing construction and real estate activities are expected to propel the growth of the handheld laser meter market going forward. Construction and real estate activities involve a broad spectrum of tasks associated with property creation, administration, and utilization. These tasks encompass constructing buildings, infrastructure, and facilities and engaging in the acquisition, disposition, leasing, and oversight of real estate properties. The increasing construction and real estate activities are due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Handheld laser meters are valuable tools in construction for their accuracy, speed, ease of use, versatility, consistency, and documentation capabilities, contributing to improved efficiency, productivity, and quality in construction projects. For instance, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10%. Therefore, the increasing construction and real estate activities drive the handheld laser meter market.
Major companies operating in the leadless pacemakers market are developing innovative products such as dual-chamber leadless pacemakers to cater to a broader range of cardiac conditions and offer patients more personalized treatment options. A dual-chamber leadless pacemaker is a cardiac pacing device designed to manage and regulate heart rhythms by delivering electrical impulses to the right atrium and ventricle without using traditional pacing leads. For instance, in February 2022, Abbott Laboratories, a US-based medical devices and healthcare company, launched the AveirTM DR, a dual-chamber pacemaker to provide synchronized, beat-by-beat pacing of the right atrium and ventricle. The Aveir DR system uses proprietary i2iTM communication technology to enable beat-to-beat synchronous pacing between the atrium and ventricle, providing true Dual-chamber rate-modulated (DDDR) pacing for continuous atrioventricular (AV) synchrony. This innovative leadless pacemaker system addresses the critical need for dual-chamber pacing in patients requiring pacing in both heart chambers.
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Major Key Players of the Market:
Abbott Laboratories, Medtronic Plc, Boston Scientific Corporation, Terumo Corporation, St. Jude Medical Inc., Lepu Medical Technology Co. Ltd., BIOTRONIK SE & Co. KG, LivaNova PLC, MicroPort Scientific Corporation, Oscor Inc., Sorin Group S.p.A. , EBR Systems Inc., Vitatron Holding B.V. , SORIN S.p.A, MEDICO S.p.A., Imricor Medical Systems Inc., Osypka Medical GmbH, Shree Pacetronix Ltd., CathRx Ltd., Cairdac
Leadless Pacemakers Market 2024 Key Insights:
• The leadless pacemakers market size is expected to see rapid growth in the next few years. It will grow to $1.04 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%.
• Heart Disease Trends Fueling Growth In The Leadless Pacemaker Market
• Advancing Cardiac Care The Rise Of Dual-Chamber Leadless Pacemakers
• North America was the largest region in the leadless pacemakers market in 2023
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