Decades after Earl Bakken came up with the first pacemaker in the 60s, Medtronic PLC (NYSE:MDT) has introduced a considerably smaller pacemaker that could possibly step over the competition and change the whole game.
Pacemakers have had very little changes since they were introduced. Medtronic has been working to change the situation. The company has created a micro pacemaker that will be docked into the heart through the femoral artery using a catheter. It will be positioned in the right ventricle where it is expected to perform flawlessly.
The micro pacemaker is a huge contrast to the regular pacemakers that are usually lodged under the skin and are characterized by wires. The new microscopic pacemaker does not host any external wires. Its engineers claim that the device will not be subject to infections or breakage.
The device is already creating Frenzy in the technology and medical world. John Day said that the new pacemaker will definitely be disruptive. Day is the director of heart rhythm services at Intermountain Medical Center in Salt Lake City. St. Jude is already planning on winning the tender to distribute the product together with Medtronic. The two will initially distribute the medical device in the European and American regions.
The pacemaker has been closely compared to the development of the mobile phones in terms of size. Both keep shrinking as technology continues to advance. The company initiated the project in 2009 with the aim of making it ten times smaller than its predecessor. Medtronic PLC (NYSE:MDT) claims that it has incorporated more efficient technology that will allow the device to incorporate better functionality.
Additionally the technology used together with the size allows the battery to be more efficient and longer lasting. The company expects the micro pacemaker’s battery to last about 12 years. The company was able to eliminate the need for wires by attaching the electrode directly to the device. Following the announcement, the firm’s shares went up by less than 1% to settle at $76.90. Analysts suggest that the new devices could create a market worth $700 million.
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