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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

A cardiac pacing lead is a small catheter with two electrodes. It is placed in the right ventricle of the heart through the vein in the groin or neck. Leads emit electrical stimulus to heart for producing depolarization of cardiac cells. There are two components in leads such as conductive leads and electrode wire. According to the World Health Organization (WHO), in 2016, 17.5 Mn people died globally due to cardiovascular diseases. Cardiac arrests, ventricle function failure, and slow depolarization rate of ventricle are the main causes of cardiovascular diseases.

Global Cardiac Pacing Leads Market – Drivers and Restraints

The increasing rate of cardiovascular diseases is the primary factor for driving the global cardiac pacing lead market. According to American Heart Association, in 2016, nearly half i.e. 48%, 121.5 million of the adults in the U.S. have cardiovascular diseases. Changing lifestyle of people, increased consumption of fats and sugar, unhealthy work practices and on desk work culture are the factors driving the market globally.

Furthermore, rising number of geriatric population and their chances of cardiac related diseases is the factor driving the market globally. Approvals for the devices associated with the programming of the pacing systems from the regulatory bodies help to drive the market growth. For instance, on May 2, 2019, Medtronic plc received the U.S. FDA approval for careLink SmartSynk device manager, which is used for programming pacing system for cardiac.

The company are developing and launching novel devices to meet the demands of physicians and patients. Moreover, on April 29, 2019, Biotronik launched its Plexa ProMRIs DX lead with DF4/IS-1 connector in Europe. Furthermore, the U.S. Biotronik offers DF4 based DX systems for tachycardia therapy with new lead and recently launched leads Acticor ID and CRT- D devices.

The lack of skilled professionals and less awareness about cardiac disease in public are the factors restraining the market globally.

Global Cardiac Pacing Leads Market - Regional Insights

North America holds dominant position in the global cardiac pacing leads market, owing to the adoption of new technologies advancement. According to the United Nations, the number of people aged 60 years or above is expected to more than double by 2050 and to more than triple by 2100, increasing from 962 million globally in 2017 to 2.1 billion in 2050. 

North America is expected to gain significant rise in the global cardiac pacing leads market over the forecast period, owing to increasing lifestyle-related disorders, technological advancements, and increased investment on healthcare infrastructure. The key players operating in the cardiac pacing leads market are focused on innovating efficient cardiac lead devices, and further launching them in emerging markets to meet the demand of consumers of various types of cardiac pacing leads. For instance, on  April 9, 2019, Oscor, Inc. announced strategic alliance with Micro Interventional Devices Inc. to strengthen the capabilities to develop and commercialize new heart disease device.

Furthermore, Europe is the second largest growing market in global cardiac pacing leads market, owing to high incidence of cardiac disease. 

Global Cardiac Pacing Lead Market - Competitive Landscape

Some of the key players operating in the global cardiac pacing leads market include Medtronic, Oscor Inc., B Braun Melsungen AG, Biotronik, Sorin Group, Vitatron, Biosensors, Estech, Greatbatch Medical, Edwards Lifesciences, BioTrace Medical, and Teleflex Incorporated.

Cardiac Pacing Leads Market - Market Taxonomy

On the basis of product type, the global cardiac pacing leads market is segmented into:

  • Unipolar
  • Bipolar
  • Others

On the basis of technology, the global cardiac pacing leads market is segmented into:

  • Transcutaneous Pacing
  • Trans Venous Pacing
  • Epicardial Pacing

On the basis of end user, the global cardiac pacing leads market is segmented into:

  • Catheterization Labs
  • Orthopedic Clinic
  • Hospitals
  • Ambulatory Surgery Centers

On the basis of region, the global cardiac pacing leads market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users