Implantable cardioverter defibrillator market revenue growth is driven by rising focus on public-access defibrillators and training and awareness programs on ICDs
Global Implantable Cardioverter Defibrillator market that offers key insights about the regional and global scope of the Implantable Cardioverter Defibrillator market. It offers key details about the recent product launches, technological advancements, supply and demand ratio, and regulatory framework. The report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
Implantable Cardioverter Defibrillator (ICD) market size is expected to reach USD 8.81 Billion at a steady CAGR of 2.7% in 2028, according to latest analysis by Emergen Research. The market for implantable cardioverter defibrillators is growing due to an increase in prevalence of cardiac diseases. Surge in risk factors such as obesity and rise in sedentary lifestyle are other key factors driving the growth of ICD market.
For more credibility, the intelligence report provides valuable data on key driving forces, prominent players, emerging trends, gross margin, customer preference and profit across various regions for the forecast period, To help product owners design a robust plan the study takes a closer look at the product pricing, technology innovation, key competitors, product launches, product pipeline and major driving forces.
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Implantable cardioverter defibrillator is a small battery powered device placed on an individual’s chest to monitor heart rhythm and detect abnormal heartbeats. The device can deliver electric shocks via wires to fix heart arrhythmias. Rising prevalence of cardiovascular diseases and increase in global geriatric population are factors fueling growth of the market to a significant extent. Emergence of MRI-compatible implantable cardioverter defibrillator is also expected to contribute to market revenue growth. Upsurge in adoption of subcutaneous ICDs due to various benefits is also expected to fuel market revenue growth.
The report also discusses the key players involved in the market such as Boston Scientific Corporation, Abbott Laboratories, Biotronik, Medtronic PLC, LivaNova PLC, MicroPort, Sorin Group, Koninklijke Philips N.V., Fukuda Denshi Co. Ltd., and Physio-Control, Inc. and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Implantable Cardioverter Defibrillator market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities
The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Implantable Cardioverter Defibrillator market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
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The report further segments the global Implantable Cardioverter Defibrillator market on the basis of product types and applications and provides insights into key factors influencing the revenue growth of the segments.
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)
Single Chamber ICD
Dual Chamber ICD
CRT-D (cardiac resynchronization therapy-defibrillator)
End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
Hospitals & Clinics
Ambulatory Surgery Centers
Key Highlights From the Report
In February 2020, Abbott announced that it has received CE Mark for its Gallant implantable cardioverter defibrillator and cardiac resynchronization therapy defibrillator devices, bringing advanced heart rhythm management capabilities to the market in Europe. The new device opens up potential for remote monitoring and patient engagement through connected applications. Other benefits of the product includes improved battery life, patient preferred design, and MRI compatibility.
Subcutaneous ICD (S-ICD) segment accounted for a significantly large revenue share in 2020. S-ICD has advantages over traditional systems, especially for young patients in whom the risk of device-related complications is extremely high. Moreover, S-ICD poses no risk of pneumothorax or vascular injury. S-ICD has cosmetic advantages due to its anatomic location despite its larger size.
Hospitals & clinics segment accounted for largest revenue share in 2020 as these settings are the major point of care for treatment of heart diseases, including cardiac arrest. Rising incidence of deaths due to cardiovascular diseases is driving revenue growth of this segment as hospitals have advanced medical infrastructure and treatment facilities.
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The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
The research provides answers to the following key questions:
What will be the market size and growth rate of the Implantable Cardioverter Defibrillator market for the forecast period 2021 -2028 across different regions?
What are the key driving forces expected to shape the future of the industry worldwide?
What strategies are the prominent vendors adapting to stay ahead of their competitors?
Which major trends are impacting the development of the Implantable Cardioverter Defibrillator market worldwide?
Which factors can hinder, challenge or even restrict the expansion of the Implantable Cardioverter Defibrillator market worldwide?
What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2021 – 2028?
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