CAGR: 10%Current Market Size: USD 198 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The global cardiac pacing leads market is expected to grow from USD 198 million in 2021 to USD 394 million by 2029, at a CAGR of 10% during the Projection period 2022-2029. The growth of this market is mainly driven by the ageing population, the rising prevalence of cardiovascular diseases, and technological advancements.
An electrode-equipped tiny catheter is called a heart-pacing lead. Through a vein in the neck or groin, it is inserted into the right ventricle of the heart. Leads send electrical signals to the heart that cause the cardiac cells to depolarize. Leads, such as conductive leads and electrode wire, have two parts. The World Health Organization (WHO) estimates that 17.5 million individuals worldwide passed away in 2016 as a result of cardiovascular illnesses. The main causes of cardiovascular illnesses include cardiac arrests, failure of the ventricles to function, and a slow rate of ventricle depolarization. Electrical simulation impulses from the pacemaker are sent to the heart via the pacing connection. The success of the pacemaker device depends on the pacing leads. It is applied to cardiovascular care. The mapping of the heart's electrical circuitry is helpful to doctors. Following heart surgery, they are minimally invasive devices positioned on the myocardium. To detect the electrical activity of the heart, these gadgets are attached to the pacemaker. Both the right atrium and ventricle may receive pacing leads, or even both. Dual-chamber pacing refers to the use of this device in both the atrium and the ventricle, whereas single-chamber pacing refers to the use of this device in either the atrium or the ventricle. Pacing leads come in two varieties: unipolar pacing leads and bipolar pacing leads. They are utilised in clinics, ambulatory surgery centres, and hospitals.
Sample Request: - Global Cardiac Pacing Leads Market
Market Dynamics:
Drivers:
The key driver of market growth is an increase in the number of eligible patients, along with the aging population, the prevalence of heart problems, pacemaker technology advancements, the reimbursement environment, disposable income growth, the preference for new technology, the ageing population, the prevalence of cardiovascular diseases, the number of medical insurers, and clinical trial enrollment.
Restraints:
The primary factors, among others, that will impede market expansion and further impede the growth of the leadless cardiac pacemaker market during the Projectioned period are an increase in healthcare costs and an increase in the cost of research and development activities in the market.
Opportunities:
Additionally, the global market is being driven by the growing elderly population and their increased risk of developing cardiac-related disorders. The regulatory agencies' approvals of the tools used in pacing system programming contribute to the market's expansion. For instance, the care link SmartSynk device manager, which is used to program cardiac pacing systems, was approved by the U.S. FDA on May 2, 2019, according to Medtronic plc.
Challenges:
People are unaware of cardiac pacing, which challenges the market’s growth. Several underdeveloped countries are not doing much to keep pace with the latest technologies and are not keeping pace with the growing world, which challenges the market’s growth. Furthermore, there is not much development in healthcare facilities, affecting the market’s growth over the Projection period.
Segmentation Analysis:
The global cardiac pacing leads market has been segmented based on product, technology, end-user, and region.
By Product Type
The product type segment is Unipolar, Bipolar, and Others. The bipolar segment led the largest share of the cardiac pacing leads market with a market share of around 77.22% in 2021. Due to lead diameter, unipolar leads were initially more popular. These days, the sizes of bipolar and unipolar leads and pulse generators are comparable. Sensing is a problem for unipolar pacing, especially in the atrium. Now, unipolar pacing/sensing can be configured in bipolar pulse generators. As a result, bipolar pacing leads are now put in every patient.
By Technology
The technology segment includes Transcutaneous Pacing, Transvenous Pacing, and Epicardial Pacing. The epicardial pacing segment led the cardiac pacing leads market with a market share of around 71.28% in 2021. Children and patients with congenital heart disease who require permanent cardiac pacing have difficulties because of their tiny size, complex anatomy, electrophysiologic anomalies, and difficult access to the cardiac chambers. For babies and individuals with complicated congenital cardiac disease, epicardial pacing continues to be the standard treatment.
By End User
The end user segment includes Catheterization Labs, Orthopedic Clinics, Hospitals, and Ambulatory Surgery Centers. The catheterization labs segment led the cardiac pacing leads market with a market share of around 59.4% in 2021. A minimally invasive examination called a cardiac catheterization can help you learn more about your congenital heart condition. An abnormality of the heart that has existed since birth is known as a congenital heart defect. The anomaly has an impact on the heart's structure and functionality.
Global Cardiac Pacing Leads Market- Sales Analysis.
The sale of cardiac pacing leads product type, technology and end-user expanded at a CAGR of 7% from 2015 to 2021.
An electrode-equipped tiny catheter is called a heart pacing lead. Through a vein in the neck or groyne, it is inserted into the right ventricle of the heart. Leads send electrical signals to the heart that cause the cardiac cells to depolarize. Leads, such as conductive leads and electrode wire, have two parts. The World Health Organization (WHO) estimates that 17.5 million individuals worldwide passed away in 2016 as a result of cardiovascular illnesses. The main causes of cardiovascular illnesses include cardiac arrests, failure of the ventricles to function, and a slow rate of ventricle depolarization.
The main reason propelling the worldwide cardiac pacing lead market is the rising prevalence of cardiovascular illnesses. According to the American Heart Association, 121.5 million adult Americans, or 48%, had cardiovascular illnesses in 2016. The variables influencing the industry internationally include changing consumer lifestyles, rising sugar and fat intake, unhealthy work patterns, and the culture of desk jobs. Additionally, the global market is being driven by the growing elderly population and their increased risk of developing cardiac-related disorders. The regulatory agencies' approvals of the tools used in pacing system programming contribute to the market's expansion.
Thus, owing to the aforementioned factors, the global cardiac pacing leads market is expected to grow at a CAGR of 10% during the Projection period from 2022 to 2029.
By Regional Analysis:
The regions analyzed for the cardiac pacing leads market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the cardiac pacing leads market and held a 36.5% share of the market revenue in 2021.
Global Cardiac Pacing Leads Market- Country Analysis:
Germany's cardiac pacing leads market size was valued at USD 3.66 billion in 2021 and is expected to reach USD 5.83 billion by 2029, at a CAGR of 6% from 2022 to 2029. Increasing demand to reduce healthcare expenditures as well as changing dynamics in hospital and healthcare settings are driving the need for cardiac pacing in Germany. It is projected that the adoption of high-quality, cost-effective care would have an impact on the market's growth. This element is becoming more and more prominent.
China’s cardiac pacing leads market size was valued at USD 3.85 billion in 2021 and is expected to reach USD 6.6 billion by 2029, at a CAGR of 7% from 2022 to 2029. Increasing pressure to save healthcare costs, the need for therapies that are affordable, historically uncommon medical emergencies like COVID-19.
India's cardiac pacing leads market size was valued at USD 3.74 billion in 2021 and is expected to reach USD 6.3 billion by 2029, at a CAGR of 6.8% from 2022 to 2029. Due to the quickly developing medical tourism industry, the population's unmet medical needs, rising levels of awareness, and the rising purchasing power of the people in these areas.
Key Industry Players Analysis:
To increase their market position in the global cardiac pacing leads business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
10% |
Market Size |
198 million in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Technology, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Zoll Medical Corporation (U.S), MicroPort Scientific Corporation (China), OSCOR Inc. (U.S), Osypka Medical GmbH (Germany), Medtronic (Ireland), Abbott (US), Boston Scientific Corporation (U.S), BIOTRONIK (Germany), LivaNova (U.K), Pacetronix (India), MEDICO (U.S), Osypka Medical (Germany), and Lepu Medical Co ltd. (China). |
By Product Type |
|
By Technology |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Cardiac Pacing Leads Market By Product Type:
Global Cardiac Pacing Leads Market By Technology:
Global Cardiac Pacing Leads Market By End User:
Global Cardiac Pacing Leads Market By Region:
Global cardiac pacing leads market is expected to reach USD 394 billion by 2029, at a CAGR of 10% from 2022 to 2029.
The key driver of market growth is an increase in the number of eligible patients, along with the ageing population, the prevalence of heart problems, pacemaker technology advancements, the reimbursement environment, disposable income growth, the preference for new technology, the ageing population, the prevalence of cardiovascular diseases, the number of medical insurers, and clinical trial enrollment.
Based on end users, the global cardiac pacing leads market has been segmented into Catheterization Labs, Orthopedic Clinics, Hospitals, and Ambulatory Surgery Centers.
The cardiac pacing leads market is projected to have a CAGR of 10%.
Leading market players active in the global cardiac pacing leads market are Zoll Medical Corporation, MicroPort Scientific Corporation, OSCOR Inc., Osypka Medical GmbH, Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK, LivaNova, among others.
Political Factors- Politics-related factors that might affect healthcare include changes to tax laws, consumer protection and employment restrictions, and insurance requirements. For instance, a change in tax laws may need a strategy modification that either capitalises on increasing government healthcare expenditure or accounts for decreased government subsidies. Alterations in employment law, such as the 2016 legislation that affected employee overtime requirements, may also call for significant staffing and overtime requirements revisions.
Economical Factors- Examples of economic concerns that have an impact on healthcare organisations’ financial health include unemployment, inflation, and interest rates. Your ability to buy things and governmental spending priorities may be affected by these shifting circumstances. For instance, if you produce medical equipment, a high unemployment rate would result in fewer individuals being able to buy your goods. Or, as more people lose their employment, more of them will lose their health insurance, which will have an impact on the kinds of health treatments they seek out.
Social Factor- Changes in your various customer groups’ demographics, values, and beliefs should also be noted in a PEST study for the healthcare industry. For instance, a hospital has to be aware of the community it serves in order to avoid going against accepted standards. These kinds of elements must to be included in your company’s marketing plan as well. The efficacy of your marketing and the influence on your performance will both increase if you use material that demonstrates your alignment with a certain sociocultural set of ideas and values.
Technological Factors- Hospital- and healthcare-related technological developments may have a variety of implications on your performance as a whole. New therapies are always being developed, and this also applies to the equipment that is produced and used. Additionally, new technologies outside the healthcare sector, such as those used in digital marketing or app development, may have an impact on how an organisation communicates with its customers. Planning ahead to benefit from those advancements may present favourable growth opportunities.
Environmental Factors- Healthcare firms can benefit from environmental and financial sustainability measures. For ecologically friendly architectural designs, many hospitals are now aiming for LEED accreditation, and waste management practises are also under review. Corporate social responsibility (CSR), which ought to be a significant component of any business strategy, is demonstrated through leadership in the field of green environmental practises.
Legal Factors- Your plan might fall apart right away if you don’t follow the new regulations and legal processes governing healthcare. Your entire plan should address the legal ramifications of ongoing cases, HIPAA compliance, future hospital mergers, and more.
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