Global Implantable Defibrillators Market, By Product Type (Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS), Transvenous Implantable Cardioverter-Defibrillator (T-ICDs), Cardiac Resynchronization Therapy Defibrillator (CRT-D)), and opportunities and forecast 2023-2030
Implantable Defibrillators Market Overview
It has been discovered that heart problems are the leading cause of death worldwide. The fast rise of the old age population, as well as the increased risk of cardiovascular diseases, are the most prominent factors that boost the growth of the global Implantable Defibrillator market. According to World Health Organization, Cardiovascular diseases (CVDs) are the leading cause of death globally. An estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Furthermore, increased use of implantable defibrillators and exposure to new technology will stimulate the growth of the market.
On the downside, factors such as lack of awareness towards the advantage of using implantable defibrillators, the high cost of implantable defibrillators, and unfavorable reimbursement policies are anticipated to hamper the market’s growth. Besides this, an increase in demand for ICDs for patients with nonischemic cardiomyopathy reduces the risk of mortality to about 23%, which is anticipated to create new opportunities for the market players.
Report Metric
Details
Market size available for years
2019–2027
Base year considered
2019
Forecast period
2020–2027
Forecast unit
Value (USD Million)
Segments covered
Product Type, and Region
Regions covered
North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
Companies covered
Boston Scientific Corporation, LivaNova PLC Company, Imricor Medical Systems, MicroPort Scientific Corporation, Mayo Clinic US, Medtronic plc, MRI Interventions, Inc., St. Jude Medical, Inc., Biotronik Se & Co.KG, Sorin Group.
Covid-19 Impact on Implantable Defibrillators Market
In addition, the current Implantable Defibrillators Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Implantable Defibrillators Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Based on Product Type, the Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS) is one of the major segments in the global Implantable Defibrillators market. A subcutaneous implantable cardioverter-defibrillator (S-ICD) is an electronic device that constantly monitors the heart rhythm. When it detects a very fast, abnormal heart rhythm, it delivers energy to the heart muscle. This causes the heart to beat in a normal rhythm again. In addition, S-ICD is different from a traditional ICD because the wires that run from the device to the heart are implanted under your skin instead of through veins. This allows the leads to be more easily removed and replaced.
Implantable Defibrillators Market, By Product Type
In terms of region, North America held the largest share in the global Implantable Defibrillators market. This can be mainly attributed to presence of better and advanced medical facilities as well as healthcare centers in this region compared to other regions. Furthermore, the increasing mortality rate owing to heart diseases in this region is another key factor contributing to the adoption of implantable defibrillators. Similarly, Europe is another key region for the Implantable Defibrillators market. As well, the market in the Asia-Pacific is estimated to register the highest CAGR in the forecast period. The large pool of patient population, increase in the prevalence of cardiac disorders, arrhythmias, and sudden cardiac arrest, enhancement in healthcare infrastructure, and growth in old age population are significant factors that contribute more to the development of the market in this region.
Implantable Defibrillators Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Implantable Defibrillators Market, Key Players
· Boston Scientific Corporation · LivaNova PLC Company · Imricor Medical Systems · MicroPort Scientific Corporation · Mayo Clinic US · Medtronic plc · MRI Interventions, Inc. · St. Jude Medical, Inc. · Biotronik Se & Co.KG · Sorin Group
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Implantable Defibrillators market during the forecast period?
A. The Implantable Defibrillators market is expected to record a CAGR of ~ 4 % during the forecast period.
Q2. What are the driving factors for the Implantable Defibrillators market?
A. The fast rise of the old age population, as well as the increased risk of cardiovascular diseases, are some prime factors that boost the growth of the global Implantable Defibrillators market.
Q3. What are the restraining factors for the Implantable Defibrillators market?
A. The lack of awareness towards the advantage of using implantable defibrillators, the high cost of implantable defibrillators, and unfavorable reimbursement policies are anticipated to restrain the growth of the Implantable Defibrillators Market.
Q4. Which segment is projected to hold the largest share in the Implantable Defibrillators Market. ?
A. The Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS) segment is projected to hold the largest share in the Implantable Defibrillators Market.
Q5. Which are the prominent players in the Implantable Defibrillators Market?
A. Boston Scientific Corporation, LivaNova PLC Company, Imricor Medical Systems, MicroPort Scientific Corporation, Mayo Clinic US, Medtronic plc, MRI Interventions, Inc., St. Jude Medical, Inc., Biotronik Se & Co.KG, Sorin Group. are some key players in the Implantable Defibrillators Market.
Implantable Defibrillators Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Implantable Defibrillators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product Type