The global cardiac pacemaker market was valued at USD 5972.2 million in 2017, and is projected to exhibit a CAGR of 7.3 percent from 2018 to 2026, projects Coherent Market Insights. Current advancements in the cardiac pacemaker are majorly focused on improving cardiac resynchronization with multisite pacing, reduction of hardware allowing to reduce device failure, valve injury, minimizing the risk of device infection, and to develop battery-less cardiac pacemakers. Involvement of various research organizations in developing advanced implantable cardiac pacemaker is expected to boost the adoption of cardiac pacemakers in the near future. Development of MRI-compatible pacemakers aided in increasing adoption of these pacemakers.
Key players in the global market are focused on R&D activities for developing novel compact implantable cardiac pacemakers with better safety and at low cost, thereby increasing product acceptance by healthcare professionals and patients. Moreover, various key players are engaged in obtaining product approval from a regulatory authority to increase their geographical reach and are also focusing on strategic collaborations, mergers, and acquisitions to retain a leading position in market. For instance, in November 2017, Medtronic plc received USFDA’s approval for their portfolio of Azure pacemakers with BlueSync technology, which is available in both single- and dual-chamber cardiac pacemakers. Furthermore, in November 2017, LivaNova PLC and MicroPort Scientific Corporation entered into a binding Letter of Intent (LoI) to sell LivaNova’s Cardiac Rhythm Management (CRM) business franchise to MicroPort for USD 190 million. The acquisition helps MicroPort to add the diverse cardiac rhythm management portfolio to their existing product portfolio.