The global implantable cardioverter defibrillators market size was estimated to be USD 3.87 billion in 2023 and is expected to reach USD 7.69 billion by 2034 with a CAGR of 6.44% during the forecast period 2024-2034. The market will increase as a result of rising patient preference for implantable devices, government initiatives and funding, awareness and education campaigns, rising incidence of cardiovascular diseases, and technological advancements.
One major factor propelling the ICD market is the increasing incidence of cardiovascular disorders, which includes arrhythmias and sudden cardiac arrest. ICD demand is predicted to rise as the world's population ages and lifestyle choices lead to an increase in heart-related problems. For instance, in August 2023, Medtronic released the improved diagnostic capabilities of the Micra VR implanted heart monitor.
By product type, the transvenous implantable cardioverter-defibrillators (ICDs) segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the technological advancements, established procedural efficacy, and widespread acceptance among healthcare professionals and patients. For instance, in October 2023, Boston Scientific received FDA certification for its InSync Duo defibrillator, which has an enhanced leadless design and sophisticated diagnostics. Additionally, the subcutaneous implantable cardioverter defibrillators (S-ICDs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on patient comfort, reduced risk of infection, and advancements in subcutaneous implantable cardioverter-defibrillator (S-ICD) technology.
By type, the single chamber ICDs segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the growing prevalence of specific clinical indications, such as bradycardia and certain tachyarrhythmias, aligning well with the targeted therapeutic capabilities of single-chamber implantable cardioverter-defibrillators (ICDs). For instance, Abbott Laboratories is working with Verily, an Alphabet company, to create AI-powered algorithms for better ICD treatment administration and arrhythmia diagnosis. Additionally, the dual-chamber ICDs segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of the clinical benefits offered by dual-chamber implantable cardioverter-defibrillators (ICDs), particularly in addressing complex arrhythmias and optimizing hemodynamic performance.
By NYHA class, the NYHA class II segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the increased prevalence of heart failure cases falling within the New York Heart Association (NYHA) Class II category, coupled with the growing recognition of implantable cardioverter-defibrillators (ICDs) as an effective therapeutic intervention for this specific patient population. For instance, in December 2022, BIOTRONIK SE & Co. KG received FDA clearance for their MagPro2 MRI defibrillator system, which allows some patients to get MRI compatibility. Additionally, the NYHA class III segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing recognition of the therapeutic benefits offered by implantable cardioverter-defibrillators (ICDs) in managing advanced heart failure cases falling within the New York Heart Association (NYHA) Class III category.
By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the significant volume of implantable cardioverter-defibrillator (ICD) procedures performed in hospital settings, reflecting the central role of hospitals in the diagnosis, treatment, and management of cardiovascular diseases. For instance, in August 2023, MicroPort Scientific Corporation and Philips announced a strategic alliance to distribute MicroPort's ICDs in Europe and other global markets. Additionally, the ambulatory surgical centers (ASCs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend toward outpatient procedures, advancements in implantable cardioverter-defibrillator (ICD) technologies that facilitate minimally invasive interventions, and the emphasis on cost-effective healthcare delivery.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, early adoption of advanced medical technologies, and supportive reimbursement policies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness of cardiovascular health, increasing healthcare expenditure, expanding healthcare infrastructure, and a growing aging population. For instance, in September 2023, LivaNova PLC reported encouraging preliminary findings from a clinical trial assessing the effectiveness of their EnRhythm ICDs in the treatment of atrial fibrillation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
One major factor propelling the ICD market is the increasing incidence of cardiovascular disorders, which includes arrhythmias and sudden cardiac arrest. ICD demand is predicted to rise as the world's population ages and lifestyle choices lead to an increase in heart-related problems. For instance, in August 2023, Medtronic released the improved diagnostic capabilities of the Micra VR implanted heart monitor.
By product type, the transvenous implantable cardioverter-defibrillators (ICDs) segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the technological advancements, established procedural efficacy, and widespread acceptance among healthcare professionals and patients. For instance, in October 2023, Boston Scientific received FDA certification for its InSync Duo defibrillator, which has an enhanced leadless design and sophisticated diagnostics. Additionally, the subcutaneous implantable cardioverter defibrillators (S-ICDs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on patient comfort, reduced risk of infection, and advancements in subcutaneous implantable cardioverter-defibrillator (S-ICD) technology.
By type, the single chamber ICDs segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the growing prevalence of specific clinical indications, such as bradycardia and certain tachyarrhythmias, aligning well with the targeted therapeutic capabilities of single-chamber implantable cardioverter-defibrillators (ICDs). For instance, Abbott Laboratories is working with Verily, an Alphabet company, to create AI-powered algorithms for better ICD treatment administration and arrhythmia diagnosis. Additionally, the dual-chamber ICDs segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of the clinical benefits offered by dual-chamber implantable cardioverter-defibrillators (ICDs), particularly in addressing complex arrhythmias and optimizing hemodynamic performance.
By NYHA class, the NYHA class II segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the increased prevalence of heart failure cases falling within the New York Heart Association (NYHA) Class II category, coupled with the growing recognition of implantable cardioverter-defibrillators (ICDs) as an effective therapeutic intervention for this specific patient population. For instance, in December 2022, BIOTRONIK SE & Co. KG received FDA clearance for their MagPro2 MRI defibrillator system, which allows some patients to get MRI compatibility. Additionally, the NYHA class III segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing recognition of the therapeutic benefits offered by implantable cardioverter-defibrillators (ICDs) in managing advanced heart failure cases falling within the New York Heart Association (NYHA) Class III category.
By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global implantable cardioverter defibrillators market in 2023 owing to the significant volume of implantable cardioverter-defibrillator (ICD) procedures performed in hospital settings, reflecting the central role of hospitals in the diagnosis, treatment, and management of cardiovascular diseases. For instance, in August 2023, MicroPort Scientific Corporation and Philips announced a strategic alliance to distribute MicroPort's ICDs in Europe and other global markets. Additionally, the ambulatory surgical centers (ASCs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend toward outpatient procedures, advancements in implantable cardioverter-defibrillator (ICD) technologies that facilitate minimally invasive interventions, and the emphasis on cost-effective healthcare delivery.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, early adoption of advanced medical technologies, and supportive reimbursement policies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness of cardiovascular health, increasing healthcare expenditure, expanding healthcare infrastructure, and a growing aging population. For instance, in September 2023, LivaNova PLC reported encouraging preliminary findings from a clinical trial assessing the effectiveness of their EnRhythm ICDs in the treatment of atrial fibrillation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Type, NYHA Class, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Implantable Cardioverter Defibrillators Market Report 2023 - 2034
Implantable Cardioverter Defibrillators Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Transvenous Implantable Cardioverter-Defibrillators
- Subcutaneous Implantable Cardioverter Defibrillators
Implantable Cardioverter Defibrillators Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Single Chamber ICDs
- Dual Chamber ICDs
- Biventricular Devices
Implantable Cardioverter Defibrillators Market Analysis & Forecast by NYHA Class 2023 - 2034 (Revenue USD Bn)
- NYHA Class II
- NYHA Class III
Implantable Cardioverter Defibrillators Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Ambulatory Surgical Centers
- Others
Implantable Cardioverter Defibrillators Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Implantable Cardioverter Defibrillators Market: Product Type Estimates & Trend Analysis
8. Implantable Cardioverter Defibrillators Market: Type Estimates & Trend Analysis
9. Implantable Cardioverter Defibrillators Market: NYHA Class Estimates & Trend Analysis
10. Implantable Cardioverter Defibrillators Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Implantable Cardioverter Defibrillators Market
13. Europe Global Implantable Cardioverter Defibrillators Market
14. Asia Pacific Global Implantable Cardioverter Defibrillators Market
15. Latin America Global Implantable Cardioverter Defibrillators Market
16. MEA Global Implantable Cardioverter Defibrillators Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- MicroPort Scientific Corporation
- LivaNova PLC
- Koninklijke Philips N.V.
- ZOLL Medical Corporation
- Stryker Corporation
- Nihon Kohden Corporation
- Physio-Control
- Defibtech LLC
- Cardiac Science Corporation
- Schiller AG
- Mindray Medical International Limited.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.87 Billion |
| Forecasted Market Value ( USD | $ 7.69 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
