Industry Research Report – Implantable Cardioverter Defibrillator market forecast till 2025, is latest research report on published by Market Research Future (MRFR). The global market is anticipated to grow at a CAGR of 5.96% during the forecast period 2019 to 2025, and is segmented on the basis of product, indication, end user, and region.
Implantable Cardioverter Defibrillator (ICD) Market Overview
Implantable Cardioverter Defibrillator (ICD) monitors heart rhythms in the treatments of heart failure cases. ICD sends small electrical impulses to the lower chambers of the heart to help them beat in more synchronized patterns and reduce symptoms. Thus, ICD provides a treatment option to correct heart rates that are too fast and can lead to sudden cardiac arrest. The global implantable cardioverter defibrillator (ICD) market is growing at a rapid pace.
The growth attributes to the rising prevalence of coronary heart diseases. Besides, reported cases for myocardial ischemia and acute myocardial infarction are providing suitable backgrounds for the market to grow. Also, it is reported that the increased prevalence of diabetes has been fueling market growth. Increased success rates of implantable cardioverter-defibrillators in the treatment of coronary heart disease and myocardial ischemia exponentially increase the adoption of ICDs.
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According to Market Research Future (MRFR), the global implantable cardioverter defibrillator (ICD) market is expected to garner a valuation of 10,425.96 MN by 2025. MRFR also states that in 2018, the global ICD market value had reached USD 6,952.2 MN, which would appreciate further at 5.96%CAGR over the review period (2019-2025). Growing awareness about the benefits that ICDs provide in the treatment of heat-related diseases & disorders is major tailwinds pushing the market growth.
The rapid increase in the global economy acts as a major driving force behind the growth of the market. Improving economic conditions worldwide are increasingly availing quality care by improving per capita healthcare expenditures. Additionally, substantial investments by public and private organizations made in the developments of advanced implantable cardioverter defibrillator, drive the market growth. Also, technological advances boost market growth, increasing the patient’s preference.
The subcutaneous ICD technology offers minimally invasive procedures that have a high success rate in the treatment of myocardial ischemia & acute myocardial infarction. Conversely, the high cost of ICDs involved in therapeutic surgeries acts as a major growth impeder for the market. Also, stringent government regulations for product approvals restrict market growth, delaying launches of advanced products. Besides, side-effects related to medications are projected to restrain market growth during the forecast period.
Implantable Cardioverter Defibrillator (ICD) Market – Segments
The report is segmented into four dynamics;
By Product: Regular ICD, Cardiac Resynchronization Therapy Defibrillators (CRT-D), Subcutaneous-ICD (S-ICD), and others.
By Indication: Myocardial Ischemia, Acute Myocardial Infarction, Electrolyte Imbalance, Drug Toxicity, and others.
By End User: Ambulatory Surgical Centers, Hospitals & Clinics, and others.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-world.
Implantable Cardioverter Defibrillator (ICD) Market – Regional Analysis
North America dominates the global implantable cardioverter defibrillator (ICD) market. The largest market share attributes to the high adoption rates of cardiac implantable electronic devices in the treatment of prevailing cardiac diseases. Besides, factors such as the presence of many notable players and well-established healthcare sectors in the region positively impact market growth.
Moreover, high healthcare reimbursements and aging populaces are driving the growth of the ICD market in the region. The North American ICD market is expected to retain its leading position throughout the forecast period.
Europe stands second in the global implantable cardioverter defibrillator market. The market growth is majorly driven by the rapidly growing prevalence of cardiac diseases. According to the European Cardiovascular Disease Statistics, in 2017, around 45% of deaths occurred in Europe were due to Cardiovascular Diseases (CVD).
Also, factors such as the augmenting demand for cardiac treatments and preventive screening, foster the regional market growth. Germany, heading with its large medical devices industry, dominates the ICD market in Europe. The European ICD market is expected to create a substantial revenue pocket over the assessment period.
The Asia Pacific implantable cardioverter defibrillator market is projected to grow rapidly. Factors such as the changing regulatory scenario, rising healthcare expenditures, and increasing prevalence of cardiovascular diseases drive the regional market growth. Besides, high incidences of diabetes that lead to cardiovascular diseases such as myocardial ischemia in the region are estimated to fuel the market growth.
Furthermore, major ICD players operating at a global level that are focusing on mergers and acquisitions support the growth of the regional market. China provides a huge impetus to the ICD market in the Asia Pacific region, followed by India. The APAC ICD market is estimated to grow at a phenomenal CAGR during the review period.
Implantable Cardioverter Defibrillator Market – Competitive Landscape
Highly competitive, the ICD market appears fragmented, due to the presence of several major players. The extensive fragmentation is resulting in higher price competition and a fall in profit margin. Hence, to remain at the front of the competition, players incorporate strategies such as mergers & acquisitions, collaborations, expansion, and product/ technology launch. However, the market is commoditized, and there exists little room for differentiation strategies.
Manufacturers stay focused on product development and invest substantially to drive R&D, clinical trial, and regulatory approvals to tackle this. Another strategy adopted by manufacturers is to develop close relationships with cardiac hospitals and service agreements. They use a variety of distributions channels to generate significant sales of their product. Companies are also focusing on developing regions, especially India, is experiencing a sharp growth in ICD demand.
Implantable Cardioverter Defibrillator (ICD) Market Major Players:
Players leading the global ICD market include Abbott Laboratories (US), BIOTRONIK (Germany), Boston Scientific Corporation (US), Medtronic (Ireland), MicroPort Scientific Corporation (China), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), Progetti Srl (Italy), Fukuda Denshi Co., Ltd (Japan), Getinge (Sweden), and ZOLL Medical Corporation (US), among others.
Implantable Cardioverter Defibrillator (ICD) Industry/ Innovation/ Related News:
May 11, 2020 ----- Medtronic plc. (Ireland), a medical device company, announced receiving the US FDA approval for its Cobalt & Crome implantable ICDs and cardiac resynchronization therapy-defibrillators (CRT-D). According to the company, its high power devices offer connected health, which further helps clinicians to program & operate from a physical distance, thereby reducing potential exposure to the virus that causes COVID-19.
The devices use the MyCareLinkHeart mobile app, along with other exclusive features such as TriageHF Heart Failure, Risk Status, CareAlert notifications, and Intrinsic ATP (anti-tachycardia pacing). The Cobalt and Crome devices received CE mark approval in January 2020.
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Market SynopsisThe Global Implantable Cardioverter Defibrillator (ICD) Market: Increasing prevalence of cardiovascular diseases, growing aging population, and changing lifestyles are projected to boost the market from USD 6,952.2 Million in 2018 to 10,425.96 Million by 2025 at a CAGR of 5.96%.Market HighlightsAccording to MRFR analysis, the global implantable cardioverter defibrillator (ICD) market is expected to register a CAGR of 5.96% during the forecast period of 2019 to 2025.
Factors such as the growing aging population, changing lifestyles such as smoking and alcohol consumption, and the increase in demand for cardiac implants are responsible for the increasing prevalence of cardiac arrhythmias globally.
The growth is mainly due to increasing cardiac arrests among patients, R by major players, and strategic partnershipsSubcutaneous-ICD (S-ICD): Holds the third-largest share in the market and is expected to grow at a steady rate in the market during the forecast period.
New product launches, manufacturing facility expansion in emerging countries such as India, China, Brazil, and other emerging countries could drive the market.Others: Covers accessories and small component parts of implantable cardioverter defibrillators.
This segment holds the least share in the market.By IndicationMyocardial Ischemia: Myocardial Ischemia is the largest as well as the fastest-growing segment by indication as ICDs are majorly used in the treatment of myocardial ischemia.
Moreover, the prevalence rate of sudden cardiac arrests is rising.
The device is used in treating sudden cardiac arrest caused due to cardiac arrhythmias, particularly ventricular fibrillation and pulseless ventricular tachycardia.
Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=13826The most important factors driving the global implantable cardioverter defibrillators market are increasing incidences of cardiovascular disorders, increasing demand for implantable cardioverter defibrillator from emerging countries of Asia-Pacific and the Middle-East as cardiovascular disorders are increasing and awareness about the disease also increases in these countries, increasing number of training and awareness programs across the globe for Implantable Cardioverter Defibrillators.
A series of small electrical impulses are delivered to the heart muscle to restore a normal heart rate and rhythm.
Based on implantation region ICDs are categorized into trans-venous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators.The subcutaneous ICD (S-ICD) is placed without inserting the leads inside the heart.
The lead which is connected to the device is burrowed under the skin rather than inside the heart.
The advantages of the S-ICD are that it do not show any of the immediate or long-term complications followed due to placing a lead into the heart, such as perforation of the heart and collapse of the lung.
Global Implantable Cardioverter Defibrillator (ICD) Market Research Report: By Product (Regular ICD, CRT-D, Subcutaneous-ICD, Others), By Indication (Myocardial ischemia, Acute myocardial infarction, Electrolyte imbalance and drug toxicity) and By End User (Hospitals and clinics, Ambulatory surgical centers) – Forecast to 2027Implantable Cardioverter Defibrillator (ICD) monitors heart rhythms in the treatments of heart failure cases.
Growing awareness about the benefits that ICDs provide in the treatment of heat-related diseases & disorders is major tailwinds pushing the market growth.
Besides, side-effects related to medications are projected to restrain market growth during the forecast period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/8243 Implantable Cardioverter Defibrillator (ICD) Market – SegmentsThe report is segmented into four dynamics;By Product : Regular ICD, Cardiac Resynchronization Therapy Defibrillators (CRT-D), Subcutaneous-ICD (S-ICD), and others.By Indication : Myocardial Ischemia, Acute Myocardial Infarction, Electrolyte Imbalance, Drug Toxicity, and others.By End User : Ambulatory Surgical Centers, Hospitals & Clinics, and others.By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-world.Global ICD Market – Regional AnalysisNorth America dominates the global implantable cardioverter defibrillator (ICD) market.
According to the European Cardiovascular Disease Statistics, in 2017, around 45% of deaths occurred in Europe were due to Cardiovascular Diseases (CVD).Also, factors such as the augmenting demand for cardiac treatments and preventive screening, foster the regional market growth.
Factors such as the changing regulatory scenario, rising healthcare expenditures, and increasing prevalence of cardiovascular diseases drive the regional market growth.
Besides, high incidences of diabetes that lead to cardiovascular diseases such as myocardial ischemia in the region are estimated to fuel the market growth.Furthermore, major ICD players operating at a global level that are focusing on mergers and acquisitions support the growth of the regional market.
