Implantable Cardioverter-Defibrillators Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Report ID: GMI3841

Summary Methodology

Implantable cardioverter-defibrillators market size is projected to experience significant growth from 2019 to 2025.

Growing prevalence of cardiovascular disorders and rising incidence of heart failure will stimulate global implantable cardioverter-defibrillators market growth over the upcoming years. According to the Centers for Disease Control and Prevention, nearly 5.7 million adults in the U.S. suffer from heart failure annually. The annual spending of the U.S. on treating cardiovascular diseases is anticipated to be around USD 30.7 billion. With growing cardiac arrest cases, the demand for implantable cardioverter-defibrillators will escalate over the coming years, leading to market growth. Moreover, with changing lifestyle and adoption of unhealthy habits such as tobacco smoking and alcohol consumption, the occurrence of cardiovascular disease will also increase, surging the adoption rate of cardioverter-defibrillators.

The implementation of cardioverter-defibrillators is anticipated to increase due to its growing application along on with pacemakers. In addition, the rapidly growing geriatric population  base prone to suffer from cardiovascular ailments will further spur the market growth. According to the 2015 statistics of the United Nations, the number of people aged over 60 years is estimated to grow by more than 55% between 2015 and 2030.

Technological advancements including increased battery life, improvements to avoid unnecessary shocks and better cardiac monitoring to prevent hospitalization will significantly contribute to Implantable Cardioverter-Defibrillators Market growth. For instance, Medtronic is currently developing extravascular implantable cardioverter-defibrillator system (EV-ICD) to overcome the disadvantages associated with transvenous implantable cardioverter-defibrillators. Such innovations will lead to higher adoption rate over the coming years.

However, the high product cost, lack of awareness regarding advanced cardiovascular devices available in the market and limited healthcare insurance among developing economies such as India and China will hinder the growth of implantable cardioverter-defibrillators industry over the forecast period.

Cardiac resynchronization implantable cardioverter-defibrillators (CRT-D) segment dominated the market in 2018 and is anticipated to witness considerable growth during the analysis period due to its wide-ranging advantages and growing application among patients at risk of suffering from sudden cardiac death. Additionally, these devices are small in size and are easily placed below the collar bone to improve heart rhythm. Thus, fueling the implantable cardioverter-defibrillators market growth.

Hospitals end-use segment accounted for largest revenue share in 2018 owing to the rise in the number of surgical procedures and increasing number of heart failure cases. In addition, hospitals are generally equipped with latest technology and highly skilled healthcare professionals will positively impact the segmental growth over the foreseeable period.

U.S. implantable cardioverter-defibrillators market will foresee significant growth during the analysis period owing to the presence of well-developed healthcare infrastructure and favorable reimbursement policies in the country. The U.S. market is expected to maintain its foothold over the global industry during the forecast timeframe due to the rising prevalence of cardiovascular diseases and increasing number of heart surgeries.  

India implantable cardioverter-defibrillators market is expected to grow at a significant pace over the forecast period due to increasing awareness and availability of implantable cardiovascular devices in the country. Furthermore, the growing prevalence of cardiovascular diseases and rising elderly population base will further boost the market growth. Nearly 2.1 million people died due to cardiovascular disease in India in the year 2015. The leading industry players operating in the industry are eyeing upon developing countries including India as a lucrative growth opportunity due its large patient pool and developing healthcare infrastructure.

Some of the major key players involved in the global implantable cardioverter-defibrillators market share are St. Jude Medical, Inc., Biotronik Se & Co.KG, Medtronic plc, Boston Scientific Corporation among others. The companies are focusing on implementing business expansion strategies and introducing technologically advanced products in the market to strengthen its product portfolio and escalate its market position. For instance, in February 2015, Boston Scientific Corporation launched the longest lasting implantable cardioverter-defibrillator to broaden its cardiovascular product portfolio along with the customer base of the company. 

Implantable Cardioverter-defibrillators Market, by Type, 2014-2025 (USD Million)

  • Subcutaneous implantable cardioverter-defibrillators (S-ICDS)
  • Transvenous implantable cardioverter-defibrillators (T-ICDS)
  • Cardiac resynchronization implantable cardioverter-defibrillators (CRT-D)

Implantable Cardioverter-defibrillators Market, by End-use, 2014-2025 (USD Million)

  • Hospitals
  • Super specialty clinics
  • Cardiac catheterization laboratory
  • Electrophysiology laboratory users

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

Company Profiles:

  • 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

What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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