Global demand for implantable cardioverter defibrillator market was valued at approximately USD 2,912 million in 2018 and is expected to generate revenue of around USD 3,831.9 million by end of 2025, growing at a CAGR of around 4.0% between 2019 and 2025.
The report covers forecast and analysis for the implantable cardioverter defibrillator market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the implantable cardioverter defibrillator market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the implantable cardioverter defibrillator market on a global level.
As per the report, the global demand for implantable cardioverter defibrillator market was valued at approximately USD 2,912 million in 2018 and is expected to generate revenue of around USD 3,831.9 million by end of 2025, growing at a CAGR of around 4.0% between 2019 and 2025.
Implantable cardioverter defibrillator is a device which can monitor patient’s heart rate before its implantation in patients with heart failure. Worldwide demand for cardioverter defibrillator is growing at a rapid pace. Global demand for cardioverter defibrillator market is expected to be driven by increasing incidences of cardiovascular disorders due to overweight and smoking. Also, poor nutrition and lack of physical activity also contribute to the growth of implantable cardioverter defibrillator market. Moreover rapid growth in implant procedures, increasing adoption of advanced technology, and advanced healthcare infrastructure will further drive the market. Rise in cardiovascular disorders across the globe is creating a tremendous pressure to launch such type of products at relatively low cost; this is one of the important factors which will drive implantable cardioverter defibrillator market. Rising sudden cardiac arrest is also one the prominent reason for driving global cardioverter defibrillator market. However, lack of trained or skilled professionals to operate, and fear among people about its safety will hinder the growth of market in coming future.
Based on product, market is segmented into CRT-D, regular ICD, and S-ICD. Among three major products, regular ICD segment held the largest market share in terms of revenue in 2017. Low cost as compared to other products, effective functioning, and easy in availability are some factors which are driving regular ICD market. Increasing role of effective distribution channels, growing health care infrastructure, and growing consumable disposable incomes are major factors which are driving regular ICD market. Also growing cardiovascular disorders among people will drive the market.
Based on end user, implantable cardioverter defibrillator market is bifurcated into hospitals and clinics. Among them, hospitals dominated end user segment in 2017. Technological advancements, growing awareness among people, increasing healthcare infrastructure, and tremendous rise in incidences of cardiovascular diseases along with growing population are some factors which are driving the end user segment.
North America dominated the global implantable cardioverter defibrillator market in 2017. North America region will lead the market over the forecast period with progress mostly focused in the U.S. market. Growing population, rising incidences of cardiovascular diseases, and increase in awareness among people are the major drivers which are boosting implantable cardioverter defibrillator market. Supportive government policies, growing training programs, increasing old age population are major factors that will contribute highest revenue share in this region. High presence of prominent players in this region, continuous research and development activities, and technological advancements are factors which is driving the market in North America. Asia Pacific was identified as one of the fastest growing market in 2017. Availability of devices due to active role of distributors, tremendous increase in number of hospitals and clinics, high investment by prominent players in this region are some factors which drive thhe implantable cardioverter defibrillator market in this region. Huge opportunities due to large untapped market in growing economies like India and China will further boost Asia Pacific market in the coming years.
Some of the key players in implantable cardioverter defibrillator market include LivaNova PLC Company, Boston Scientific Corporation, MicroPort Scientific Corporation, MRI Interventions Inc., St. Jude Medical, Imricor Medical Systems, Inc., Mayo Clinic US, and Medtronic plc, among others.
Global Implantable Cardioverter Defibrillator Market: Product Type Segment Analysis
Global Implantable Cardioverter Defibrillator Market: End-user Segment Analysis
Global Implantable Cardioverter Defibrillator Market: Regional Segment Analysis