Transcatheter pacing system is a small implantable device which sends electric pulses to the heart when the heart rhythm slowed down. It is a minimal invasive procedure. It is a novel technology whereby no leads are being used in the transcatheter pacing system and thus it can be implanted directly into the right ventricle.
In transcatheter pacing system, the pacing, generator and sensing electrodes are incorporated in one capsule-shaped compartment which is implanted directly in the right ventricular wall. The cathode is located on the distal end of the pacemaker. Transcatheter pacing system are smaller in size as compared to conventional transvenous pacemakers. Physicians mostly preferred to use transcatheter pacing system since it eliminates the potential complications and risk of pacemakers and hence the transcatheter pacing system is likely to propel the growth of the market.
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: 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: 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:
- Atrioventricular Block
- Sinus Node Dysfunction
- Atrial Fibrillation
Based on end user, the global transcatheter pacing system market is segmented as:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Key Players
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.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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