Abbott to compete with Medtronic in EU dual-chamber leadless pacemaker market: GlobalData

Abbott’s dual-chamber leadless pacemaker product, the Alveir DR, has just gained CE approval, which allows it to compete with Medtronic, which currently has a monopoly on the market with its Micra AV product line. The global dual chamber leadless pacemaker market is poised to grow at a compound annual growth rate (CAGR) of 8.95 per cent from $185.9 million in 2023 to $438 million in 2033, forecasts GlobalData.

Aidan Robertson, Medical Analyst at GlobalData, comments, “The CE approval for the Alveir is a good sign for Abbott to expand into the European market. As the overall dual chamber leadless market grows, Abbott may begin to carve out a piece of market share from Medtronic.”

The primary benefit of leadless pacemakers over traditional pacemakers is the absence of a transvenous lead, which eliminates the complications associated with such leads. Additionally, the implantation of the device becomes significantly easier and the need for a subcutaneous pocket to implant the device is no longer necessary therefore removing the threat of pocket-related infections.

The pacemaker market has demonstrated stable growth in recent years and is anticipated to continue this trend in the foreseeable future. This growth is driven by an increasing population at risk of cardiovascular diseases and ongoing technological advancements that address the current limitations of pacemaker systems. Consequently, the dual chamber leadless pacemaker market is also expected to expand, as it shares the same market drivers.

One barrier to this growth is the cost of dual-chamber leadless pacemakers. However, with the advancement of new technologies in this space, in future, the price of this device would be driven down therefore increasing accessibility to this sub-market and boosting growth.

“While the dual chamber leadless pacemaker market is relatively new, the potential for growth in this sub-market is promising due to the transition being seen in the healthcare system from traditional pacemakers to leadless pacemakers that provide fewer complications. As this expansion in leadless pacemakers occurs, this provides an opportunity for Abbott to latch onto a portion of the market share in the future. Although Medtronic is still expected to dominate this sub-market, it may not hold the same monopoly going forward,” concludes Robertson.

 

Edits made by EH News Bureau