Implantable Defibrillators Market by Product Type [Transvenous Implantable Cardioverter-Defibrillator (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS), and Cardiac Resynchronization Therapy Defibrillator (CRT-D)]: Global Opportunity Analysis and Industry Forecast, 2020–2030
The global implantable defibrillators market was valued at $3,300.00 million in 2020, and is projected to reach $5,612.62 million by 2030, registering a CAGR of 5.3% from 2021 to 2030.
Implantable cardioverter defibrillators (ICDs) are devices used to treat patients with heart arrhythmias that occur in the heart’s lower chambers or ventricles, which can be life threatening.
ICDs are typically implanted in patients who have a weakened heart, owing to a history of heart blockages and/or heart attacks or in those with heart muscle tissue that are enlarged or thickened. Occasionally, ICDs are implanted in patients who have an inherited heart defect that makes their heart beat abnormally.
Implantable cardioverter defibrillator (ICD) is an equipment or device implanted inside the human body to perform cardioversion, correct pacing, and defibrillation of the heart. The product is generally used in treating sudden cardiac arrest owing to ventricular fibrillation, cardiac arrhythmias, and pulseless ventricular tachycardia.
Implantable defibrillators are battery-powered small devices placed underneath the chest or abdomen to keep track of a patient’s heart rate. Increase in palpitation is diagnosed by the device and the normal heart rhythm is restored. These devices play a vital role in preventing sudden cardiac arrest in patients who suffer from sustained ventricular tachycardia or atrial fibrillation. Therefore, ICDs constantly monitor the heart rhythm through electrodes and deliver treatments when an abnormal heart rhythm is detected. The treatments through ICDs include pacing, cardioversion, and defibrillation to restore a normal heart rhythm.
The growth of the implantable defibrillators market is attributed to advancements in technology such as introduction of quadripolar lead devices to improve device programming, extend battery life, and development of magnetic resonance imaging (MRI)-safe ICDs. In addition, a rise in the incidence of atrial fibrillation and the high risk of a sudden cardiac arrest (SCA) fuel the demand for implantable defibrillator devices. Furthermore, introduction of subcutaneous ICD technology in 2012 has revolutionized the treatment technology for cardiac rhythm management through these devices. Boston Scientific’s S-ICDs were granted the market clearance in 2012, which was the first commercially available S-ICDs system worldwide. S-ICDs are widely adopted, as they are implanted below the skin without the leads to be placed inside the heart. This fueled the demand for S-ICDs globally, thus driving the growth of the market. However, the presence of alternative treatment and limited insurance coverage are projected to hamper the market growth.
The implantable defibrillator market is segmented based on product type and geography. On the basis of product type, the market is segmented into transvenous implantable cardioverter-defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillators (S-ICDS), and cardiac resynchronization therapy defibrillator (CRT-D). Geographically, the market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Egypt, Israel, South Africa, and rest of LAMEA
The major players operating in the global Implantable Defibrillators market are Abbott, Biotronik SE & Co. KG, Boston Scientific Corporation, Fukuda Denshi Co. Ltd., Imricor Medical Systems, Koninklijke Philips N.V., LivaNova Plc Company, Medtronic Plc, Microport scientific corporation, and Nihon Kohden Corporation. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
KEY BENEFITS FOR STAKEHOLDERS
The report provides in-depth analysis of the global Implantable Defibrillators market size along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global Implantable Defibrillators market growth.
KEY MARKET SEGMENTS
By Product Type
Transvenous Implantable Cardioverter-Defibrillator (T-ICDs)
Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS)
Cardiac Resynchronization Therapy Defibrillator (CRT-D)
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
List of key players profiled in the report:
Abbott
Biotronik SE & Co. KG
Boston Scientific Corporation
Fukuda Denshi Co. Ltd.
Imricor Medical Systems
Koninklijke Philips N.V.
Livanova Plc Company
Medtronic Plc
Microport Scientific Corporation
Nohen Kohden Corporation
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