Global Temporary Cardiac Pacing Wires & Leads Market: Overview
Temporary cardiac pacing is used when a patient’s heart beat slows down and cannot maintain the cardiac output. In temporary cardiac pacing, the pacing wire and leads are connected to the epicardium in the heart, which is present on the atrium and ventricle. They are exposed through the chest wall.
Global Temporary Cardiac Pacing Wires & Leads Market: Key Trends
The global temporary cardiac pacing wires & leads market is primarily driven by an increase in the prevalence of cardiovascular disorders, rise in the geriatric population, and increase in the number of cardiac surgeries. Also, increase in lifestyle disorders such as obesity and increase in disposable income are key factors likely to boost the growth of the global temporary cardiac pacing wires & leads market during the forecast period. Furthermore, a rise in the adoption of technologically advanced health care devices and advancements in health care are projected to boost the growth of the global market in the next few years. Cardiovascular diseases (CVDs) cause a significant number of deaths across the world each year. According to World Health Organization (WHO) estimates, cardiovascular diseases accounted for 17.3 million deaths in 2008, and the number is likely to increase to 23.3 million by 2030. Low- to middle-income countries accounted for 80% of the deaths caused by CVDs globally. CVDs account for 64% of all the cardiovascular deaths and are among the leading cause of death and major cause of loss of quality of life among men and women. Furthermore, existing market players are deploying advanced techniques and strategies to develop novel processes for manufacturing technologically enhanced temporary cardiac pacing wires & leads. This is anticipated to propel the demand for temporary cardiac pacing wires & leads during the forecast period. However, the high cost of temporary cardiac pacing wires & leads and lack of reimbursement policies in emerging nations are expected to restrain the growth of the market in the next few years.
Global Temporary Cardiac Pacing Wires & Leads Market: Segmentation
The global temporary cardiac pacing wires & leads market can be segmented based on product, application, technique, age group, end-user, and region. Based on product, the market can be bifurcated into cardiac pacing wires and cardiac pacing leads. The cardiac pacing wires segment can be further sub-segmented into unipolar temporary pacing wires, bipolar temporary pacing wires, and quadripolar temporary pacing wires. The cardiac pacing leads segment can be further divided into temporary unipolar pacing leads, temporary bipolar pacing leads, bipolar pacing leads with flexible ends, and bipolar pacing leads with balloons. In terms of application, the market can be classified into cardiothoracic surgeries, acute myocardial infarction, bradycardia, heart blocks, sick sinus syndrome, and congestive heart failure. Based on technique, the market can be categorized into epicardial pacing, transvenous pacing, and transcutaneous pacing. In terms of age group, the market can be segmented into pediatric and adult. Based on end-user, the market can be divided into hospitals, clinics, catheterization labs, and ambulatory surgical centers.
Global Temporary Cardiac Pacing Wires & Leads Market: Regional Analysis
In terms of region, the global temporary cardiac pacing wires & leads market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a leading share of the global market in 2017 due to soaring obesity rates, high geriatric population, and adoption of technologically advanced health care devices. The regions also show high awareness levels and affordability, which would continue to drag the growth of the market. In addition, increase in the prevalence of cardiovascular disorders and presence of a large number of manufacturers in the region are expected to boost the temporary cardiac pacing wires & leads market in North America during the forecast period. Asia Pacific and Latin America are highly potential market, owing to the rapidly evolving medical tourism industry, unmet medical needs of the population, rise in awareness levels and increase in the purchasing power of the people in these regions.
Global Temporary Cardiac Pacing Wires & Leads Market: Competitive Landscape
Key players operating in the global temporary cardiac pacing wires & leads market include Becton, Dickinson and Company (C.R. Bard), Abbott Laboratories (St. Jude Medical), Vance Street Capital LLC (A&E Medical Corporation), Medtronic Plc., B. Braun Melsungen AG, Teleflex Incorporated, Edwards Lifesciences Corporation, Oscor Inc., Osypka AG, and BioTrace Medical Inc.
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