Over the projected period, rising product approval by regulatory agencies is anticipated to fuel the expansion of the global cardiac pacemaker market. For instance, the medical device manufacturer Medtronic plc. announced on June 15, 2020 that their Micra AV Transcatheter Pacing System (TPS), a tiny pacemaker with features such atrioventricular (AV) synchronisation, has been granted the CE mark by the European Union (EU). This device is recommended for the treatment of individuals with AV blockages, compromised heart chambers, and to deliver electrical signals for the heart's appropriate functioning. Over the projected period, a rise in inorganic activities including agreements, partnerships, and collaborations among market participants is anticipated to fuel the expansion of the worldwide cardiac pacemaker market. For example, on December 17, 2021, LifeTech Scientific Company, a producer of interventional medical devices based in China, announced the continuation of its agreements with Medtronic plc, a medical device business, for the HeartTone domestic pacemaker project. This project agreement calls for Medtronic to continue providing a variety of specialist technical consulting services through the year 2028.
Coherent Market Insights estimates that the market for Cardiac Pacemakers is predicted to reach US$ 4,547.8 Mn in value in 2022 and grow at a CAGR of 3.3% during the forecast period (2022-2030).
Leading Companies in the Cardiac Pacemakers Industry:
1. Medtronic
The company was established in 1949 and is headquartered in Dublin, Ireland. The business sells respiratory monitoring systems, medical supplies, surgical devices, instruments, and other equipment. The company declared its aim to buy Stimgenics, LLC and their main treatment, differential target, multiplexed spinal cord stimulation, in January 2020. The business declared in April 2022 that it will collaborate with GE Healthcare to support the need for care at ambulatory surgery centres.
2. Boston Scientific Corporation,
The firm was founded in 1979 and is headquartered in Marlborough, Massachusetts, United States. The business creates, produces, and sells minimally invasive medical equipment. Boston announced in January 2021 that it will pay up to $1.2 billion to acquire Minneapolis-based Preventice Solutions, Inc. and its line-up of mobile heart health solutions. The company revealed its plans to buy South Korean company M.I.Tech Co., Ltd. for about $230 million in June 2022. Boston announced in August 2022 that it will buy Obsidio, Inc.
3. Abbott,
The firm was founded in 1888 and its headquarters are located in Chicago, Illinois, United States. It offers for sale nutritious goods, branded generic medications, medical gadgets, and diagnostics. Abbott unveiled Lingo, a line of consumer biowearable sensors, in January 2022. Lingo gathers a variety of biological measurements to optimise diet and exercise plans. A multipurpose spinal cord stimulation device for treating chronic pain, Proclaim Plus from Abbott, was given FDA approval in August 2022.
4. BIOTRONIK SE & Co. KG,
The company was established in 1963 and is based in Berlin, Germany. The company BIOTRONIK SE & Co. KG creates and manufactures tools for controlling heart rhythm and vascular interventions. The business provides tools for electrophysiology, vascular intervention, and cardiac rhythm management diagnosis, treatment, and therapy support. HeartInsight was introduced by BIOTRONIK in March 2022 to provide early heart failure hospitalisation prediction.
5. LivaNova, PLC
The company was founded in 1987 and is located in United Kingdom. The Firm focuses on cardiac surgery, rhythm control, and neuromodulation. LivaNova creates medicinal treatments for cardiovascular diseases. The business creates equipment for neuromodulation and cardiac surgery. LivaNova disclosed the sale of its heart valve (HV) business in 2020. Livanova announced in May 2022 that it had acquired Pittsburgh-based ALung Technologies Inc.
6. MicroPort Scientific Corporation
The company was established in 1998 and has its headquarters in China. The Corporation produces keyhole surgical interventional and minimally invasive equipment. In addition to creating treatments to treat diabetic and orthopaedic illnesses, the company's goods are utilised to treat vascular ailments. MicroPort® announced the completion of the clinical trial for the R-One® Vascular Interventional Surgical Robot registration in June 2022.
7. Vitatron Holding B.V.
The firm was founded in 1956 and has its main office in Arnhem, Gelderland, and The Netherlands. The biomedical engineering company Vitatron A.G. focuses on the development, design, production, and marketing of devices or instruments that reduce pain, improve health, and lengthen life.
*Definition: A cardiac pacemaker is a tiny implant placed in the chest to regulate the sluggish heartbeat. A surgical operation is used to implant a cardiac pacemaker.
