![Implantable Defibrillators Market by Product Type [Transvenous Implantable Cardioverter-Defibrillator, Subcutaneous Implantable Cardioverter Defibrillators, and Cardiac Resynchronization Therapy Defibrillator]: Global Opportunity Analysis and Industry Forecast, 2020-2030- Product Image](http://www.researchandmarkets.com/product_images/12257/12257641_500px_jpg/implantable_defibrillators_market.jpg)
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.
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
- US
- 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 NV
- Livanova Plc Company
- Medtronic Plc
- Microport Scientific Corporation
- Nohen Kohden Corporation
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Implantable Defibrillators Market, by Product Type
Chapter 5: Implantable Defibrillators Market, by Region
Chapter 6: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Implantable defibrillators market by type and region: global opportunity analysis and industry forecast, 2021–2030,” the global Implantable Defibrillator market size 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.An implantable defibrillator is an implantable electronic device, which is effective for the treatment of sudden cardiac arrest (SCA) as well as for arrhythmia. The device can be programmed to detect an abnormal heart rate and to deliver shocks as per requirement. Implantable defibrillators are used to prevent sudden death in patients who sustained atrial fibrillation or ventricular tachycardia. These devices are implanted inside patient’s body and perform defibrillation, pacing of heart, and cardioversion. Irregular heart rhythms that require ICD implant include bradycardia, ventricular tachycardia, and ventricular fibrillation.
Implantable defibrillators are used when the heartbeat is not normal and tries to return the heartbeat to normal. If the ICD has a pacemaker feature when the heartbeat is too slow, it works as a pacemaker and sends tiny electric signals to the heart. When the heartbeat is too fast or chaotic, it gives defibrillation shocks to stop the abnormal rhythm. It works 24 hours a day. New devices also provide pacing to electrically convert a sustained ventricular tachycardia (fast heart rhythm) and backup pacing if bradycardia (slow heart rhythm) occurs. They also offer a host of other sophisticated functions such as storage of detected arrhythmic events and the ability to perform electrophysiologic testing.
Implantable defibrillator devices that constantly monitor the heart rhythm and when it detects an abnormally fast heart rhythm, it delivers energy to the heart muscle. The S-ICDs is a completely extra thoracic device, which has recently received FDA approval for prevention of sudden cardiac death. One of the primary advantages of subcutaneous implantable cardioverter-defibrillators is the absence of wires within the heart and preservation of central venous circulation. This property of the equipment makes it a great alternative for children with congenital heart disease with no venous access who were inappropriate for transvenous ICD.
Globally, it has been observed that maximum causes of deaths are caused due to heart diseases. This surge in geriatric population and increase in prevalence of chronic health conditions such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia, growth in preference for S-ICDs, and rise in awareness among patients regarding implantable defibrillators are expected to drive the implantable defibrillators market growth. Moreover, exposure of new technologies and increase in adoption of implantable defibrillators are expected to lead to spontaneous growth of the defibrillator market.
However, risk factors such as infection in the implanted area, sudden damage to veins where ICD leads are placed, and bleeding around the heart are some factors that hinders growth of the implantable defibrillator market. Moreover, lack of awareness toward availability of implantable defibrillator to prevent sudden cardiac arrest (SCA) and adoption of these devices in low- and middle-income economies are projected to hamper the market growth
Along with this, increase in population along with rise in mortality, owing to cardiac arrests and other heart disease provide ample opportunities for the implantable heart defibrillator market players to grow and flourish globally.
The industry progression is being further driven by ongoing technological advancements and novel product developments in the business space. For instance, Abbott in 2020 declared receiving an FDA nod for its next-gen Gallant ICD and cardiac resynchronization therapy defibrillator devices. As per company officials, the devices offer Bluetooth technology and new patient smartphone applications for enhanced remote monitoring.
The implantable defibrillators market is segmented on the basis of type and region. On the basis of type, the market is divided into transvenous implantable cardioverter-defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillators (S-ICDS), and cardiac resynchronization therapy defibrillator (CRT-D). The transvenous implantable cardioverter-defibrillator (T-ICDs) segment currently dominates the global Implantable Defibrillator market and this trend is anticipated to continue during the forecast period as T-ICDs are the most commonly used devices to treat heart disorders for higher precision and targeted functioning.
North America accounted for a majority of the global Implantable Defibrillators market share in 2020 and is anticipated to a rise in the incidence of sudden cardiac arrest (SCA), increase in the adoption of S-ICDs, high purchasing power, and availability of advanced healthcare facilities. However, Asia-Pacific is expected to witness considerable implantable defibrillators market growth during the forecast period due to its high population base, increasing disposable incomes, and improvement in patient awareness about ICD devices.
Key Findings Of The Study
By type, the transvenous implantable cardioverter-defibrillator (T-ICDs) segment currently dominates the global Implantable Defibrillators market and this trend is anticipated to continue during the forecast period as T-ICDs are the most commonly used devices to treat heart disorders for higher precision and targeted functioning.
On the basis of region, in 2020, North America dominated the market in 2020, owing to rise in the incidence of sudden cardiac arrest (SCA), increase in the adoption of S-ICDs, high purchasing power, and availability of advanced healthcare facilities. However, Asia-Pacific is expected to witness considerable implantable defibrillator market growth during the forecast period due to its high population base, increasing disposable incomes, and improvement in patient awareness about ICD devices.
Companies Mentioned
- 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
- Nihon Kohden Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 172 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 3300 million |
| Forecasted Market Value ( USD | $ 5612.62 million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
