Cardiac Pacemaker Market to Surpass USD 11.1 Billion by 2026

The global cardiac pacemaker market was valued at USD 5,972.2 million in 2017 and is projected to exhibit a CAGR of 7.3 percent from 2018 – 2026. Current advancement 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 pacemaker. Involvement of various research organizations in developing advanced implantable cardiac pacemaker is expected to boost the adoption of cardiac pacemaker in the near future. MRI examination for patients with implanted pacemakers was considered to be risky due to potential electromagnetic interaction between the pacemakers and MRI.

Development of MRI-compatible pacemakers aided in increasing adoption of these pacemakers. Medtronic Plc., a leading player in this market — was the first company to receive FDA approval for MRI-compatible pacemaker for Revo MRI SureScan in 2011. Other companies such as Biotronik and Boston Scientific Corporation have introduced their products in this category. St. Jude Medical, Inc acquired by Abbott Laboratories in January 2017, was one of the leading players in pacemakers. However, due to late approval for its MRI-compatible pacemakers in 2017, the company has struggled to maintain its position in this market. Key players in cardiac pacemaker market are focused on research and developmental 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 regulatory authority to increase their geographical reach and also are focusing on strategic collaborations, mergers and acquisitions to retain leading position in market. For instance, in November 2017, Medtronic plc received US Food and Drug Administration (FDA) approval for their portfolio of Azure pacemakers with BlueSync technology, which is available in both single and dual chamber cardiac pacemakers. Company’s new Azure XT MRI and Azure S MRI pacemakers offer improved longevity, which is an estimated at 13.7 years (dual chamber). Furthermore, in November 2017, LivaNova PLC and MicroPort Scientific Corporation entered into a binding Letter of Intent (LOI) to sale LivaNova’s Cardiac Rhythm Management (CRM) business franchise to MicroPort for USD 190 million. Company’s CRM product portfolio includes pacemakers, high-voltage defibrillators, and cardiac resynchronization therapy devices. The acquisition helps MicroPort to add these diverse cardiac rhythm management portfolios to their existing product portfolio. – Coherent Market Insights