Transcatheter Cardiac Pacemaker Market outlook is likely to improve during the forecast period of 2022-2028 due to the rising incidence of chronic cardiovascular ailments. Many regions across the world are witnessing a rise in the percentage of the geriatric population which increases the risk of being diagnosed with a variety of health disorders.
Moreover, populations in the developed regions are noticing a rapid change in their lifestyle, with unhealthy eating habits, chronic stress, and erratic sleep patterns increasingly becoming a commonplace. These factors have also contributed to the rise in the number of young people falling prey to heart-related diseases. According to the Centers for Disease Control and Prevention (CDC), heart diseases were the leading cause of death, with 696,962 deaths recorded in the U.S. in 2020.
Another report by the CDC showed that in 2019, nearly 4.6% of adults aged 18 years and over were diagnosed with coronary heart disease in the U.S. These statistics depict that the demand for advanced devices like transcatheter cardiac pacemakers to help patients lead a healthier life will increase in the years to come. These devices can eliminate the symptoms of bradycardia and reduce shortness of breath by increasing the energy level in patients.
Transcatheter pacemakers are undergoing several technological advancements with respect to their size, features, and overall design. Patients are increasingly demanding medical devices that are non-invasive yet highly effective and smart in their performance. The battery life of these devices is also being improved, which will foster their high production and sale.
The left ventricle position segment is estimated to hold a sizeable share of the global transcatheter cardiac pacemaker market by 2028. Left heart catheterization is the placement of a catheter in the left side of the heart. This placement plays a therapeutic as well as a diagnostic role for patients. One of its main diagnostic roles, apart from studying the blood flow and assessing valvular lesions, is diagnosing coronary heart disease.
In fact, left heart catheterization is considered by many medical professionals as the gold standard test for diagnosing coronary heart disease. On the other hand, the therapeutic role of placing the catheter in the left ventricle includes percutaneous coronary intervention, radiofrequency ablation of arrythmias, closure of congenital defects, and replacing a weak valve, among others. These benefits are bound to boost the use of transcatheter cardiac pacemakers in the left ventricle of the heart.
The global transcatheter cardiac pacemaker market size from hospitals is projected to record a strong CAGR between 2022 and 2028. There is a large presence of highly skilled medical professionals in several developed regions. Governments are also boosting their investments to increase the number of hospitals.
Hospitals have the most advanced medical tools like pacemakers at their disposal and with the help of qualified doctors, a patient can easily manage their medical condition. Surgeons at hospitals also make sure that they offer high-quality patient care, which will play a key role in increasing the admission rate for treating several cardiovascular diseases.
Asia Pacific transcatheter cardiac pacemaker market is set to grow at a notable rate through 2028 owing to the rapidly expanding healthcare sector in the region. Many countries across APAC region are already on the way to becoming medical tourism destinations, not only for patients but also healthcare companies as many of them are setting up their manufacturing plants in the region. Hospitals, clinics, and catheterization labs are being set up on a large scale across the region.
According to a report by the National Center for Biotechnology Information (NCBI), India has one of the highest cases of cardiovascular diseases in the world. Some of the factors that are contributing to the onset of these diseases include obesity, poor eating habits, hypertension, and diabetes.
Also, according to the WHO, India accounts for nearly one fifth of CVD deaths worldwide, and these ailments mostly affect the younger population. These alarming statistics have surged the production of transcatheter cardiac pacemakers across the region to help patients effectively manage their heart conditions.
The rising burden of cardiovascular diseases has prompted reputed organizations across the world, such as St. Jude Medical, Medtronic, Boston Scientific Corporation, Farapulse Inc., and EBR Systems, among many others, to create state-of-the-art transcatheter cardiac pacemakers for their clients. The companies are entering into mergers, acquisitions, and partnership agreements to diversify their product & service portfolios and expand their market presence.
For example, in June 2021, Boston Scientific Corporation announced that it had exercised its option to acquire Farapulse Inc., which was a part of an investment deal made between the companies in September 2020. This move is likely to boost Boston Scientific’s electrophysiology portfolio and include the FARAPULSE Pulse Field Ablation (PFA) System, which consists of a generator, catheter, and sheath to treat atrial fibrillation and other types of cardiac arrythmia.
The COVID-19 pandemic was instrumental in bolstering the demand for transcatheter cardiac pacemakers across several regions as people suffering from cardiac ailments were at a higher risk of contracting the virus. The period also saw a notable surge in the number of people being diagnosed with heart disorders because of increased stress and panic levels. This scenario urged many companies to develop advanced transcatheter cardiac pacemakers that can help patients overcome obstacles related to their disease.