Implantable Cardioverter Defibrillator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Implantable Cardioverter Defibrillator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Implantable Cardioverter Defibrillator Market

The implantable cardioverter defibrillator market size was valued at USD 6684.4 million in 2018, and the market is now projected to grow USD 9919.6 million in 2032 exhibiting a CAGR of 2.9% during the forecast period of 2019-2032.

COVID 19 had some effects on the ICD market; there were schedules and disruptions in the supply chain for implantable cardioverter defibrillator. As medical facilities kept focusing on the severe COVID-19 patients, some kinds of devices were not implanted as frequently as before. But the market mobilized with the restoration of healthcare services and awareness of dangers linked to cardio post-pandemic. Tendencies to remote monitoring also boosted the ICD segment’s evolution throughout the year. In general, the situation on the market is gradually improving due to the high incidence of cardiovascular diseases and the development of new technologies.

Medtronic has the biggest market share of ICD, thus it has remained unchallenged based on product portfolio, customer base and brand image. It is worth mentioning that, taking together with Boston Scientific Corporation, it shares half of total overall market revenues. Other market players are Abbott, LivaNova PLC, MicroPort, BIOTRONIK, and some others that play an important role in the development of the market. These firms show the major concern for innovation, productivity, and internationalization. The ICD market is growing as technology advances, and as more people require cardiac treatment options and devices.

There continues to be strong and impressive growth in the ICD market Major developments in technologies include the newly approved Subcutaneous ICDs which represent less invasive methods for patients. Cardiovascular diseases are rapidly on the rise especially among the aging population and this has seen a corresponding rise in the demand for such devices. Also, the level of people consciousness about need of ICDs, as well as the state support in question enlighten the discussion. The market is also marked by product innovations by the key players in a bid to improve capacity of the devices and, in extension, patients’ performance. Therefore, it is now possible to determine that the ICD market will grow significantly soon.

Comprehensive Analysis of Implantable Cardioverter Defibrillator Market

The implantable cardioverter defibrillator market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by product type, by end user, and by geography. By product type incudes transvenous ICD, single chamber ICD, dual chamber ICD, CRT-D (cardiac resynchronization therapydefibrillator), subcutaneous ICD. By end user incudes hospitals & clinics, ambulatory surgery centers and others. By geography incudes North America, Europe, Asia Pacific, and rest of the world.

The Europe region lead the implantable cardioverter defibrillator market share by benefitting a market size of USD 3376.8 million in 2018 due to its increasing awareness amongst patients and favorable reimbursement policies.

Top players in the market have their responsibility of healthcare industrial prospectus growth of the retailing industry and the markets. These players include, Medtronic, Boston Scientific Corporation, Biotronik, LivaNova Plc, Abbott, and MicroPort these market players provide a level-playing competitive landscape.

In April 2019, Biotronik launched the Acticor series implantable defibrillator with fewer leads, reduced procedure time, and lower costs.

Segmentation Table

ATTRIBUTE DETAILS

By Product Type · Transvenous ICD

· Single Chamber ICD

· Dual Chamber ICD

· CRT-D (cardiac resynchronization therapydefibrillator)

· Subcutaneous ICD

By End User · Hospitals & Clinics

· Ambulatory Surgery Centers and Others

By Geography · North America (USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Rest of the World