Implantable Cardioverter Defibrillator Market Analysis Insights by Latest Trends, Future Growth, Revenue and Demand
According to the most recent report by Emergen Research, the size of the global Implantable Cardioverter Defibrillator (ICD) market is anticipated to reach USD 8.81 billion in 2028 at a consistent CAGR of 2.7%. The market for implantable cardioverter defibrillators is expanding as cardiac disorders are becoming more common. Other significant factors fueling the expansion of the ICD industry are the development in risk factors like obesity and a sedentary lifestyle. A small battery-operated device called an implantable cardioverter defibrillator is implanted on the person’s chest to monitor heart rhythm and identify irregular heartbeats. To correct heart rhythms, the device can deliver electric shocks via wires.
Innovation in the implantable and external defibrillator product sectors is anticipated to be fueled by the growing need to create solutions to enhance the response to sudden cardiac arrests and the desire to improve patient outcomes. Product improvements in subcutaneous and transvenous devices to improve device safety and efficacy are what drive innovation in the implanted defibrillator categories. The development of the external defibrillator segments is anticipated to be driven by the integration of digital technology like as analytics and tracking software.
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Some Key Highlights from the Report
Abbott declared in February 2020 that their Gallant implanted cardioverter defibrillator and cardiac resynchronization therapy defibrillator devices have gained the CE Mark, bringing cutting-edge heart rhythm management capabilities to the European market. Through networked applications, the new device offers the possibility of remote monitoring and patient involvement. The product’s longer battery life, patient-friendly design, and MRI compatibility are among its further advantages.
In 2020, the subcutaneous ICD (S-ICD) sector accounted for a sizably high revenue proportion. S-ICD has advantages over conventional systems, particularly for young patients who have a very high risk of problems from the device. S-ICD also doesn’t increase the risk of vascular damage or pneumothorax. Despite its bigger size, the S-ICD provides cosmetic advantages because of its anatomical position.
Since hospitals and clinics are the primary locations for the treatment of heart illnesses, including cardiac arrest, they accounted for the biggest revenue share in 2020. As hospitals have state-of-the-art medical infrastructure and treatment facilities, rising rates of cardiovascular disease-related fatalities are fueling this segment’s revenue growth.
Boston Scientific Corporation, Abbott Laboratories, Biotronik, Medtronic PLC, LivaNova PLC, MicroPort, Sorin Group, Koninklijke Philips N.V., and Fukuda Denshi Co. are significant market players. Physio-Control, Inc. and Ltd.
Emergen Research has segmented the global implantable cardioverter defibrillator market on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Transvenous ICD
- Single Chamber ICD
- Dual Chamber ICD
- CRT-D (cardiac resynchronization therapy-defibrillator)
- Subcutaneous ICD
End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Ambulatory Surgery Centers
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
For More Details On this Report: https://www.emergenresearch.com/industry-report/implantable-cardioverter-defibrillator-market
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