PUBLISHER: Grand View Research | PRODUCT CODE: 1375932
PUBLISHER: Grand View Research | PRODUCT CODE: 1375932
The global leadless pacemakers market size is anticipated to reach USD 1.74 billion by 2030, based on a new report by Grand View Research, Inc.. The market is projected to grow at a CAGR of 15.7% from 2023 to 2030. The growth of the market is attributed to technological advancements, rising prevalence of heart diseases, and preference for minimally invasive procedures. Moreover, the growing aging population globally propels the demand for leadless pacemakers, as bradycardia is common in the geriatric population. According to the Cleveland Clinic, approximately half a million of the geriatric population show symptoms of bradycardia, thereby driving the growth in the leadless pacemakers industry.
Wireless or leadless pacemakers, frequently used in adult patients, have emerged as a potentially safe and efficient temporary alternative for children experiencing bradycardia, as revealed by research featured in Circulation: Arrhythmia and Electrophysiology, a peer-reviewed journal affiliated with the American Heart Association. This development is expected to be a potential driver for the growth of the market.
In addition, growing business initiatives by the companies for leadless pacemakers propels the industry growth. In July 2021, MicroPort Scientific Corporation concluded definitive agreements related to its Series C financing round. The financing has successfully garnered a total investment of USD 150 million. Moreover, one of the key objectives of this funding is to develop and commercialize its leadless pacemakers by 2027 - 2028.