Cardiac pacing leads are medical devices that are used to deliver electrical pulses directly to the heart. They help stimulate the heart and regulate its beats. Owing to the growing geriatric population susceptible to cardiac diseases and increasing technological advancements in wireless pacing technologies, the demand for cardiac pacing leads is surging.
The global Cardiac Pacing Leads Market is estimated to be valued at US$ 371.52 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Wireless cardiac pacing technologies have gained significant popularity over the past few years. Earlier, traditional pacemakers required surgical implantation of pacing leads through veins into the heart. However, the advent of wireless leads has eliminated the need for intracardiac leads and simplified the implantation process. Wireless leads use ultrasonic or electromagnetic signals instead of metallic conductors to communicate with the pacemaker. They provide greater flexibility, mobility, and comfort to patients. Growing demand for minimally invasive procedures and advantages of wireless technologies over traditional leads are expected to drive robust demand for wireless cardiac pacing leads over the forecast period. Rapid technological advancements to make wireless pacing more accurate and compatible are further expected to aid market growth.
Segment Analysis
The global cardiac pacing leads market can be segmented based on product type, end user, and region. By product type, the single-chamber pacing leads segment held the largest market share in 2020. Single-chamber pacing leads are commonly used as they are cost-effective and provide pacing at relatively lower rates of complications. By end user, the hospitals segment accounted for the dominant market share in 2020. The high volume of cardiac pacing procedures performed in hospitals and the availability of advanced infrastructure are factors that contribute to the large market share of this segment.
Key Takeaways
The Global Cardiac Pacing Leads Market Demand is expected to witness high growth during the forecast period.
Regional analysis shows that North America dominated the market in 2020. The region has a high prevalence of cardiac conditions along with increased healthcare expenditure and availability of advanced technologies.
Key players analysis shows that GE, Vertiv, Schneider Electric, Cummins, Caterpillar, Eaton, Bloom Energy, FlexGen, Siemens, SMA Solar Technology, AVL, 2G Energy, Ballard Power Systems, JLM Energy, Zenobe Energy, EFOY, SWB Power, PowerTech Systems, Hydrogenics, AFC Energy are some major players operating in the cardiac pacing leads market.
Explore more information on this topic, Please visit-
https://www.insightprobing.com/cardiac-pacing-leads-market-growth-and-trnds-analysis-share-size-demand-forecast/
Explore more trending article Related this topic:
https://masstamilan.tv/understanding-the-human-microbiome/
Comments
0 comment