Heart Blocks Treatment Devices Global Market Report 2024

The heart blocks treatment devices market size has grown strongly in recent years. It will grow from $3.11 billion in 2023 to $3.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be ascribed to several factors, including the expansion of implantable cardioverter defibrillators (ICDs), advancements in cardiac resynchronization therapy (CRT), the development of miniaturized and leadless devices, the prominence of clinical trials and evidence-based medicine, adherence to guidelines and recommendations, and a rise in the incidence of cardiovascular diseases.

The heart blocks treatment devices market size is expected to see strong growth in the next few years. It will grow to $4.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be linked to factors such as wireless connectivity and remote monitoring, the broadening utilization of wearable cardioverter defibrillators (WCDs), the implementation of personalized treatment algorithms, a focus on patient-centric design and comfort, and the increased adoption of MRI-compatible devices. Major trends expected in the forecast period encompass the growing integration of telemedicine platforms, the implementation of remote programming and updates, AI-driven predictive maintenance, an emphasis on enhancing user experience, and the expansion of home-based care.

The anticipated growth of the heart blocks treatment devices market is driven by the increasing prevalence of cardiovascular disease. Cardiovascular diseases, encompassing conditions such as coronary artery disease, heart failure, and stroke, significantly impact the heart and blood vessels. The surge in cardiovascular disease cases is primarily influenced by factors such as the aging population, shifts in lifestyle and dietary habits, and rising rates of obesity and diabetes. Heart blocks treatment devices play a crucial role in addressing abnormalities or defects in the heart's structures and blocks, contributing to the treatment of cardiovascular disorders. For example, data from May 2023 reveals that one person in the United States succumbs to cardiovascular disease every 33 seconds, resulting in approximately 695,000 deaths in 2021 alone, constituting 1 in every 5 deaths. Consequently, the escalating prevalence of cardiovascular disease is a significant driver of the heart blocks treatment devices market's growth.

The expanding size of the aging population is poised to fuel the heart block treatment device market's growth. An aging population denotes a scenario where the proportion of older individuals within a population steadily increases. This demographic shift is a key contributor to the rising incidence of heart block. With advancing age, individuals face an increased risk of developing cardiac conduction system abnormalities, necessitating the use of heart block treatment devices. As of October 2022, projections from the World Health Organization indicate that by 2030, 1 in 6 individuals globally will be aged 60 years or older. The population aged 60 years and over is expected to rise from 1 billion in 2020 to 1.4 billion. By 2050, the world's population aged 60 years and older is predicted to double to 2.1 billion, with the number of individuals aged 80 years or older tripling to reach 426 million. Therefore, the aging population is poised to drive the heart block treatment device market's demand.

Technological advancements represent a notable trend gaining traction in the heart blocks treatment devices market. Companies within the market are embracing innovative technologies to maintain their competitive positions. For instance, in January 2023, Medtronic, a US-based company specializing in services, medical technology, and solutions, introduced the world's smallest pacemaker designed for treating heart block. Known as Micra AV, this miniature, fully self-contained pacemaker employs a minimally invasive approach to deliver innovative pacing technology for patients with atrioventricular (AV) block. Distinguished as the first pacemaker capable of detecting atrial activity without the use of a lead or other accessories in the upper heart chamber, Micra AV exemplifies the advancements in heart blocks treatment devices.

Prominent companies in the heart block treatment device market are concentrating on technological advancements, exemplified by the development of dual-chamber pacemakers to ensure reliable services for customers. Dual-chamber pacemakers encompass leadless pacing systems designed to address abnormal or slow heart rhythms. In a notable example from November 2023, Abbott Laboratories, a multinational medical device and healthcare company based in the United States, introduced a dual-chamber pacemaker, marking its first U.S. implants. Recognizing that over 80% of individuals requiring a pacemaker need pacing in two heart chambers - the right atrium and right ventricle - Abbott Laboratories incorporated i2i technology. This innovation employs high-frequency pulses to convey messages through the body's naturally conductive characteristics, establishing communication between each leadless pacemaker.

In November 2022, Johnson & Johnson, a diversified U.S.-based company involved in medical devices, pharmaceuticals, and consumer packaged goods, acquired Abiomed for $16.6 billion. This acquisition positions Johnson & Johnson MedTech (JJMT) as an expanding cardiovascular innovator, contributing to elevating the standard of care in heart failure and recovery, a significant unmet need in healthcare. Abiomed, the acquired company, specializes in temporary external and implantable mechanical circulatory support devices.

Major companies operating in the heart blocks treatment devices market report are MicroPort Scientific Corporation, GE HealthCare, Abbott Laboratories, Medtronic PLC, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, Nihon Kohden Corporation, Lepu Medical Technology (Beijing) Co., Zoll Medical Corporation, LivaNova PLC, Abiomed Inc., Cardiac Dimensions, EBR Systems Inc., Endotronix Inc., Calon Cardio, CVRx Inc., BioVentrix Inc., CorWave SA, Leviticus Cardio, BiVACOR, Biotronik SE and CO KG, CorMatrix Cardiovascular, Shree Pacetronix Ltd., Jarvik Heart Inc., Osypka Medical GmbH.

North America was the largest region in the heart blocks treatment devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heart blocks treatment devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heart blocks treatment devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Heart block treatment devices come in various types, including first-degree heart block, second-degree heart block, and third-degree heart block. First-degree heart block refers to a conduction abnormality characterized by a delay in the transmission of electrical signals through the heart's atrioventricular (AV) node. In cases of first-degree heart block, the deployment of a pacemaker is typically reserved for rare instances where the blockage significantly impacts the individual's quality of life or if there are indications of progression to higher degrees of heart block. The diverse array of products within heart block treatment devices includes transcutaneous pacing (TCP), pacemaker, medication, and follow-up electrophysiology study. These devices find application in hospital testing, home treatment, clinics, and various other settings.

The heart block treatment devices market research report is one of a series of new reports that provides heart block treatment devices market statistics, including the heart block treatment devices industry's global market size, regional shares, competitors with a heart block treatment devices market share, detailed heart block treatment devices market segments, market trends, and opportunities, and any further data you may need to thrive in the heart block treatment devices industry. This heart block treatment devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The heart blocks treatment devices market consists of sales of implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy (CRT) devices, and leadless pacemakers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.