Cardiac Rhythm Management Devices Batteries Market to Surpass US$ 580 Million by 2027, Owing to Increasing Adoption of Implantable Cardiac Pacemakers
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According to Global Cardiac Rhythm Management Devices Batteries Market Report, By Product Type (Implantable Cardiac Pacemaker, Implantable Cardioverter Defibrillator, Cardiac Resynchronization Device), By Power Source (Lithium-Iodine Cells, Lithium-Silver Vanadium Oxide Cell, Lithium-Carbon Monofluride Cells, Lithium-Manganese Dioxide), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights, the global cardiac rhythm management devices batteries market is estimated to account for US$ 446.1 Mn in terms of value by the end of 2019.
Cardiac Rhythm Management (CRM) devices are powered by lithium batteries as these batterers offer high capacity density, high energy density, and have the ability to form several electrochemical couples, which promote stability and fast discharge kinetics. Majority of CRM device manufacturers produce their own batteries.
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Increasing adoption of implantable cardiac pacemakers and other CRM devices is expected to propel growth of the global cardiac rhythm management devices batteries market over the forecast period. For instance, according to the paper, ‘Spanish Pacemaker Registry. 15th Official Report of the Spanish Society of Cardiology Working Group on Cardiac Pacing (2017), published in 2018, in 2017, 333 units of the leadless pacemaker Micra (Medtronic) were implanted, 67% more than in 2016. Moreover, increasing demand for left ventricular endocardia pacing in CRT therapy is also expected to aid in growth of the market. This is attributed to use of light weight, smaller, high density, and high voltage lithium-based batteries in leadless pacemakers.
R&D of novel batteries is expected to offer lucrative growth opportunities for players in the market. For instance, in December 2019, researchers from Savitribai Phule Pune University, India, developed nuclear batteries for that can be used effectively in pacemaker biomedical devices. According to the researchers, the novel batteries can offer low voltage power for 30-35 years without charging or maintenance.
However, R&D of battery-less CRM devices is expected to hinder growth of the global cardiac rhythm management devices batteries market. For instance, in February 2019, researchers from Second Military Medical University and Shanghai Jiao Tong University in China reported development of a pacemaker that can be powered by the energy of heartbeats in the journal ACS Nano.
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Among product types, the implantable cardiac pacemaker segment was valued at US$ 127.8 Mn in 2018 and is expected to reach US$ 177.2 Mn by 2027 at a CAGR of 3.7% during the forecast period. The cardiac resynchronization device segment was valued at US$ 136.1 Mn in the global cardiac rhythm management devices batteries market in 2018, and is expected to grow at 3.1% CAGR over the forecast period.
The implantable cardioverter-defibrillator segment in the global cardiac rhythm management devices batteries market was valued at US$ 167.7 Mn in 2018. This is attributed to high prevalence of cardiovascular diseases worldwide.
Use of nanotechnology in development of lithium batteries is increasing in the recent past. For instance, in December 2019, researchers from Zhejiang University of Technology, China, reported development of nano-sized spinel LiMn2O4/carbon nanotubes (LMO/CNTs) composite as cathode material for lithium-ion batteries
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in April 2018, MicroPort Scientific Corporation, a medical device developer, acquired Cardiac Rhythm Management (CRM) Business from LivaNova Plc. Upon acquisition CRM Business is now renamed as MicroPort CRM.
Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in 2017, Boston Scientific Corporation launched Resonate family of CRT-D devices in Europe.
- May 2019: The Central Drugs Standard Control Organization (CDSCO) red-flagged three brands of pacemakers, Astra Pacemakers, Serena and Solara Cardiac Resynchronisation Therapy – Pacemakers (CRT-P), from Medtronic, Inc
- January 2019: Medtronic, Inc. launched MyCareLink Heart mobile application that connect users’ smartphone devices directly to the company’s portfolio of connected pacemakers.
- Increasing adoption of implantable cardiac pacemakers and other CRM devices is expected to propel growth of the global cardiac rhythm management devices batteries market over the forecast period
- Major players operating in the global cardiac rhythm management devices batteries market include, Medtronic, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Greatbatch, Inc. (Integer), EaglePicher Technologies, LLC, Quallion LLC, and BIOTRONIK SE & Co. KG.
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