New York, NY 14 May 2021: The global Diaphragm Pacing Therapy System Market size is predicted to reach USD 7.57 million by 2027 according to a new study by Polaris Market Research. The report “Diaphragm Pacing Therapy System Market Share, Size, Trends, Industry Analysis Report, By Product Type (External diaphragm pacemaker, Diaphragm pacemaker); By Application (SCI, ALS, and Others); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A serious ventilator-dependent person requires two mechanical ventilators, first as a primary and second as a contingency backup. Such machines need a significant amount of disposable supplies to operate accurately and securely. Once the pacing is done the patient is able to remove one of the ventilators, as the one should keep for emergency, and reducing a significant section of the associated supplies. Considering yearly replacement of external antennas, the monthly replacement of batteries, and situational supplies such as tape, alcohol preps, a diaphragm pacing system costs nearly USD1,000 per year or even less than that to operate. Rental of a mechanical ventilator and the costs of its disposables starts from USD 1,500 to USD 2,500 every month. Thus, the implantation of a diaphragm pacing system significantly have a return of investment of 3-4 years, and save USD 18,000 to USD 30,000 every year.
The major driving factors of market are increasing new product developments, awareness amongst the citizens regarding the diaphragm pacing therapies, rising healthcare investments and need for technological advancement in healthcare sector. Additionally, increasing prevalence of amyotrophic lateral sclerosis (ALS) and Spinal Cord injury (SCI) surges the market growth. Moreover, increasing favorable regulations by the government for the approval of new products and rising reimbursement by the government and various private institution surges the market growth of diaphragm pace therapy system market globally. Further, rising strong product pipelines and clinical trials contributes significant growth to the diaphragm pace therapy market globally.
The increasing COVID-19 cases worldwide also contributes lucrative growth in the concerned market as COVID-19 treatment requires ventilators for the patients to breath and these DPTS are alternatives of ventilators hence, Diaphragm Pacing Therapy System allow normal breathing to the patients. Moreover, increasing research and development activities and rising awareness amongst the general public about the product.
Market participants such as Avery Biomedical Devices, Inc., Lungpacer Medical, Atrotech, Synapse Biomedical, and among others, are some of the key players operating in the global market. For instance, in April 2020, Lungpacer Medical got the U.S. FDA early market access clearance for the diaphragm pacing therapy system to assist in treating COVID-19 patients. These devices can be used as a substitute to the mechanical ventilator for patients with phrenic nerves, and diaphragm. Such initiative by the key market players helps them to increase their market share in the competitive market of Diaphragm Pacing Therapy System, globally.
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