New technologies boost South Korea’s pacemaker market
The launch of dual chamber leadless pacemakers can especially promote market growth.
The pacemakers market in South Korea is expected to grow at a compound annual growth rate of about 3% between 2020 and 2025, driven by an ageing population and advances in pacemaker technologies, according to a GlobalData report.
These technologies include leadless pacemakers and MRI compatible and sensor pacemakers. The launch of dual-chamber leadless pacemakers in 2020 is particularly expected to further drive the market, said GlobalData’s Medical Devices Analyst Tanisha Verma.
“They offer advantages such as the absence of a transvenous lead, easier implantation in patients in whom venous access is difficult and eliminating the risk of infections,” Verma said.
Infection at the surgical site, sensitivity to the device material, and swelling and damage to the blood vessels are some of the most common risks associated with conventional pacemakers. However, technologies such as leadless pacemakers and MRI compatible and sensor pacemakers lower the risks associated with pacemaker implantation, the report noted.
“Conventional dual and single chamber pacemakers are still expected to hold more than 90% of the market due to factors such as their low cost, and current low level of physician training in implanting leadless pacemakers,” Verma said.