Global Implantable Cardioverter Defibrillator Market Size & Share to 2027
Global Implantable Cardioverter Defibrillator Market Size, Trends & Growth Opportunity, By Product Type (Single Chambered, Double Chambered, and Biventricular Implantable Cardioverter Defibrillator), by Procedure Type (Trans-Venous Implantable Cardioverter Defibrillator, and Subcutaneous Implantable Cardioverter Defibrillator), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), By Region and Forecast till 2027
Global Implantable Cardioverter Defibrillator Market
The Implantable Cardioverter Defibrillator also known as ICD. It is battery-operated device which placed under the skin of patient to monitor the patient’s heart rate. They are connected to the heart by thin wires. If abnormal heart beat is detected ICD deliver an electric shock to reinstate a normal rhythm if the patient’s heart is beating fast.
Market Drivers
The increase in prevalence of target diseases is the key driving factor which is expected to boost the global implantable cardioverter defibrillator market growth. Furthermore, increase in focus on providing public-access defibrillators as well as increase in training and awareness programs on defibrillator will positively contribute the market growth over the forecast period. Moreover, increase in reaserch and development activities will fuel the market growth. Also, continuous technological advancements will propel the global implantable cardioverter defibrillator market growth during this forecast period. For instance, in 2017, Biotronik had launched DX technology cardioverter defibrillator system in United State. It is specifically designed for heart failure patients. In addition to that, rise in demand for implantable cardiverter defibrillator in emerging nations such as like Asia Pacific, and MEA is expected to drive the market growth.
Market Restraints
However, frequent product recalls is the major restraining factor which is expected to hinder the global implantable cardioverter defibrillator market growth. For instance, in 2019, FDA (Food and Drug Administration) had recalled Abbott’s implantable cardioverter defibrillator due to electric failures. Also, lack of awareness towards the advantages of using implantable defibrillator will affect the market growth.
Market Segmentation
Global Implantable Cardioverter Defibrillator Market is segmented into product type such as Single Chambered, Double Chambered, and Biventricular Implantable Cardioverter Defibrillator, by procedure type such as Trans-Venous Implantable Cardioverter Defibrillator, and Subcutaneous Implantable Cardioverter Defibrillator. Further, market is segmented into end user like Hospitals, Specialty Clinics, and Ambulatory Surgical Centers.
Also, Global Implantable Cardioverter Defibrillator Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market key Players
Various key players are discussed in this report such as Medtronic plc, LivaNova PLC Company, Mayo Clinic US, St. Jude Medical, Inc, MicroPort Scientific Corporation, MRI Interventions, Inc, Boston Scientific Corporation, CU Medical Systems, Koninklijke Philips N.V., and Mediana
Market Taxonomy
By Product Type
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