Increase in sedentary lifestyle, rapid increase in public-access defibrillators and training programs on ICDs, and increase in prevalence of cardiac diseases are some key factors expected to drive market growth
According to Emergen Research, the global implantable cardioverter defibrillator market size was USD 7.11 Billion in 2020 and is expected to reach USD 8.81 Billion in 2028 and register a revenue CAGR of 2.7 % during the forecast period, 2021-2028.
Market Dynamics:
Implantable cardioverter-defibrillator (ICD) is a battery-powered device that is placed in human chest to detect and stop irregular heartbeats (arrhythmias). An ICD continuously monitors heartbeat and, if necessary, administers electric shocks to restore normal cardiac rhythm. An ICD constantly checks for abnormal heartbeats, even if the patient is not near a hospital. This has further boosted demand for implantable cardioverter defibrillator and is expected to drive market revenue growth over the forecast period.
Increasing investments from government and private agencies in advanced technologies such as Artificial Intelligence (AI) and robotics to support advanced ICD and promote latest generation of ICDs is another key factor expected to drive market revenue growth over the forecast period. In addition, increase in number of patients suffering from cardiovascular diseases, emergence of MRI-compatible ICD, and rapid adoption of subcutaneous ICDs are expected to further contribute to market revenue growth.
Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/732
However, risks associated with implantable cardioverter defibrillator in healthcare industry, lack of skilled professionals and high cost can hamper market growth to a certain extent over the forecast period. Risks include infection at the implant site; can lead to swelling, bruising or bleeding; can cause damage to blood vessel; possible chances of bleeding around heart, and chances of collapsed lung (pneumothorax). These factors can limit adoption of ICDs and restrain marker growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Subcutaneous ICD (S-ICD) Segment Revenue to Expand at a Rapid CAGR:
Subcutaneous ICD (S-ICD) segment is expected to register a rapid revenue CAGR over the forecast period attributed to numerous advantages. The preservation of central venous circulation and absence of leads within the heart are key benefits of the S-ICD, making it an excellent choice for children with congenital heart problems or patients without venous access who were not suitable for transvenous ICD.
Hospitals & Clinics Segment to Register Significant Revenue Growth:
Hospitals & clinics segment is expected to register significant revenue growth over the forecast period due to continuous advancements in medical infrastructure, and government initiatives to improve healthcare facilities, especially after COVID-19. Hospitals are regarded as major point of treatment for various heart diseases, including cardiac arrest.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to rapid adoption of advanced technologies such as AI and ML in surgical procedures, availability of advanced healthcare equipment, rising number of clinical trials, and rising government investment in ICDs for due to increase in number of cardiac patients in the region.
Check Our Prices@ https://www.emergenresearch.com/select-license/732
Major Companies in the Market Include:
- Boston Scientific Corporation
- Abbott Laboratories
- Biotronik, Medtronic PLC
- LivaNova PLC
- MicroPort, Sorin Group
- Koninklijke Philips N.V.
- Fukuda Denshi Co. Ltd.
- Physio-Control, Inc.
For the purpose of this report, Emergen Research has segmented the global implantable cardioverter defibrillator market based on 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
- Transvenous ICD
End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
-
- Hospitals & Clinics
- Ambulatory Surgery Centers
- Others
Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/implantable-cardioverter-defibrillator-market
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of MEA
Take a Look at our Related Reports:
Neuromorphic Processing Market By Application (Single, Image, Data Processing, Object Detection, Others), By End User (Consumer Electronics, Automotive, Healthcare, Military and Defense, Others) and By Regions Forecasts to 2027
Synthetic Blood Substitutes Market By Source, By Type (Hemoglobin-Based Oxygen Carriers (HBOCs), Perfluorocarbon (PFCs)), By Application (Cardiovascular Diseases, Anemia, Malignant Neoplasm, Injuries and Trauma, Neonatal Conditions, Maternal Conditions, Organ Transplant), By End-Use, Forecasts to 2027
CRISPR Technology Market By Product (Enzymes, Kits and Reagents, Guide RNA, Others), By Application (Biomedical, Agriculture, Industrial, Others), By End User (Pharmaceutical and Biotechnology Companies, Academics and Government Research Institutes, CROs) and By Regions Forecasts to 2027
Interventional Cardiology Market By Product (Catheters, Angioplasty Balloons, Plaque Modification Devices, Angioplasty Stents), By End Users (Cardiac Catheterization labs, Hospitals, Ambulatory surgical centers), Forecasts to 2027
Single Cell Sequencing Market By Product, By Workforce, By Technology, By Diseases Type (Oncology, Immunology, Prenatal Diagnosis, Neurobiology, Microbiology), By Application (Circulating Cells, Cell Differentiation/Reprogramming, Subpopulation Characterization, Genomic Variation), By End-Use, Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Facebook | LinkedIn | Twitter | Blogs
Read Full Press Release: https://www.emergenresearch.com/press-release/global-implantable-cardioverter-defibrillator-market