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Global Leadless Pacing System Market is Anticipated to Grow US$ 63.5 Mn by 2025
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Segmental Forecast
The global leadless pacing systems market is expected to exceed US$ 63.5 Mn by 2025, attesting the highest growth of the atrial fibrillation application segment, which is expected to expand at 10.1% CAGR over the forecast period. Atrial fibrillation segment will dominate the market in terms of value. In the end user segment, hospitals represent more than 85% of the market share.
In terms of value, the North America regional market holds the highest share in the global market followed by Europe. This is because of higher demand in these regions, product affordability and a favorable reimbursement scenario. Middle East & Africa represents a significant market share in the global leadless pacing systems market given the historical acceptance in the number of procedures for leadless pacing technology over traditional pacemakers. In terms of growth rate, Europe leads with a CAGR of 11.2% followed by Asia Pacific with an increasing product acceptance. Latin America is anticipated to have the least market size over the forecast period. The global market for leadless pacing systems is anticipated to expand at a significant growth rate over the forecast period providing good growth opportunities for market players.
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Key Research Findings
Demand for leadless pacing systems is anticipated to remain high through 2025, registering a CAGR of 10.0% over the forecast period owing to the rising number of cardiovascular diseases and increasing pacemaker implant rate
Due to the technical advantages of leadless pacing systems, this product segment is anticipated to absorb significant market size in the single chamber ventricular pacing systems market
The higher pricing of leadless pacing systems than normal pacemakers is a major limiting factor in the leadless pacing systems market
There are only two companies with their products commercially approved by regulatory bodies while some other companies have their products still in the development phase. Medtronic plc. is the only company with FDA approval
Acquisitions, mergers, expansions, product approvals, product launches and adoption of new technologies are the key strategies adopted by manufacturers and integrators for technology transfer and to increase consumer base in different geographies
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North America is anticipated to remain the largest consumer base for leadless pacing systems owing to a higher acceptance rate and a favorable reimbursement scenario
Several opportunities are available for companies to improve their product penetration such as development of dual chamber and multi chamber pacing, providing professional education & training, distribution reach etc.
The report profiles some of the leading players operating in the global leadless pacing systems market such as Abbott Laboratories and Medtronic plc. Boston Scientific Corporation and Biotronik are still in the development phase for leadless pacing systems.
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