Global Implantable Cardioverter Defibrillator (ICD) Market Size, Share, Opportunities, COVID 19 Impact, And Trend By Chamber (Single Chambered, Dual Chambered), By Type (Subcutaneous ICD, Transvenous ICD, Cardiac Resynchronization Therapy Defibrillator), By End-User (Hospitals & Clinics, Ambulatory Care Centre), And By Geography - Forecasts From 2021 To 2026

Published:  Aug 2021 Report Code: KSI061611218 Pages: 113

The global implantable cardioverter defibrillators market was valued at US$8.625 billion in 2019 and is projected to expand at a CAGR of 5.52% over the forecast period to reach US$12.565 billion by 2026. 

An implantable cardioverter defibrillator is an implantable electronic device that is used for treatment in case of sudden cardiac arrest and arrhythmia. The device can be used to detect an abnormal heart rate and to deliver electric shocks if required to the patients. The rapidly increasing geriatric population in many regions across the globe is a major factor responsible for the growth of the implantable cardioverter defibrillators market. According to Forbes, 2019, the number of individuals 65 years and older increased by 33%, from 37.2 to 49.2 million people between 2007 to 2017. The number is further expected to continue rising, doubling to 98 million by 2060. Further, the 85 years and older population are expected to increase by more than 8 million by 2040, which will drive the market growth as more patients will require implantable cardioverter defibrillators for their treatment.

In addition, the rising incidence of sudden cardiac arrests due to ventricular arrhythmia or any other reason is spurring the demand for advanced implantable cardioverter defibrillators which can keep a track of the patient’s heartbeat and restore normal heartbeat when an abnormal beating is detected. For instance, according to the British Heart Foundation, 2019, in the United Kingdom, there are over 30,000 out-of-hospital cardiac arrests, a year where emergency medical services attempt to resuscitate the victim. In such situations, the implantable cardioverter defibrillators can serve as life-savers, and reduce the number of deaths. 

Furthermore, the continuous improvements in technology will increase the efficiency and reliability of the implantable cardioverter defibrillators, thereby bolstering their adoption by the end-users during the forecast period.

By type, the Transvenous ICD segment is expected to have a dominant market share as it is highly being adopted and used, especially in developing countries, and has a higher acquisition cost.  By end-user, the hospitals and clinics are estimated to hold a significant market share owing to the increasing prevalence of cardiac arrests, across the globe.  Geographically, the European region is projected to hold a notable market share due to higher adoption of ICDs, and increasing awareness amongst the patients regarding the ICDs. The Asia Pacific and North America, are further expected to grow at a high CAGR due to the rise in the geriatric population and the increasing incidence of cardiac arrests in the regions.

Growth Factors.

  • Increasing incidence of cardiovascular diseases in people.

The number of patients suffering from cardiovascular diseases (CVD) nationwide has been on a stable rise. The constant increase in the numbers is likely to increase the demand for implantable cardioverter defibrillators. According to the American Heart Association, in the United States in 2019, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. The number of people dying from cardiac arrests, worldwide has been increasing.  According to the World Health Organization, cardiac diseases are the main source of death globally. Around, 17.9 million individuals die due to cardiovascular diseases consistently over the globe, which records roughly 31% of deaths globally. The implantable cardioverter defibrillators can effectively be used to decrease these numbers by providing electric shocks to the patients to revive them. The increasing incidence of cardiovascular diseases and cardiac arrests in people will drive the market growth during the forecast period. 

  • Increase in the geriatric population.

The increase in the geriatric population across the globe is expected to drive the market growth of implantable cardioverter defibrillators market as the population aged above the age of 65 years are more prone to cardiovascular diseases and cardiac arrests. According to the United Nations, in 2019, the geriatric population was 703 million persons, nationwide. The number of older persons is projected to double to 1.5 billion in 2050, this will fuel the market growth as the number of patients requiring implantable cardioverter defibrillators will spike in the market.

Impact of COVID–19.

The Covid-19 pandemic positively impacted the global implantable cardioverter defibrillators market as the patients suffering from cardiovascular diseases witnessed a huge spike in numbers due to being affected by the virus, which in turn increased the demand for implantable cardioverter defibrillators in the short run. The novel coronavirus has the potency to directly affect the heart of the patients which results in causing a cardiac arrest due to which the number of people suffering from cardiac arrest witnessed an exponential spike in numbers.

Competitive Insights.

The market leaders for the global implantable cardioverter defibrillators market consist of Boston Scientific Corporation, Medtronic, PLC, MicroPort Scientific Corporation, LivaNova PLC, and Abbott Laboratories. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage over their competitors. For Instance, in May 2021, MicroPort Scientific Corporation, a global medical device developer and manufacturer, signed a distribution agreement with Implicity, Inc. to enhance its offerings in the U.S. with Implicity's cloud-based and AI-driven universal cardiac remote monitoring platform to provide high-value services to healthcare providers.

Global Implantable Cardioverter Defibrillator (ICD) Market Scope:

Report Metric Details
 Market size value in 2019  US$8.625 billion
 Market size value in 2026  US$12.565 billion
 Growth Rate  CAGR of 5.52% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Chamber, Type, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Boston Scientific Corporation, Medtronic, PLC, MicroPort Scientific Corporation,   LivaNova PLC, Abbott Laboratories
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Chamber
    •  Single Chambered
    •  Dual Chambered
  • By Type
    •  Subcutaneous ICD
    • Transvenous ICD
    • Cardiac Resynchronization Therapy Defibrillator
  • By End-User
    •  Hospitals & Clinics
    • Ambulatory Care Centre
  • By Geography
    • North America
      • USA
      • Canadá
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Indonesia
      • Taiwan
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the implantable cardioverter defibrillators market?
A1. The global implantable cardioverter defibrillators market is projected to grow at a CAGR of 5.52% over the forecast period.


Q2. What is the size of the global implantable cardioverter defibrillators market?
A2. Implantable Cardioverter Defibrillator (ICD) Market was valued at US$8.625 billion in 2019.


Q3. What will be the implantable cardioverter defibrillators market size by 2026?
A3. The implantable cardioverter defibrillators market is projected to reach a market size of US$12.565 billion by 2026.


Q4. Which region holds the largest market share in the implantable cardioverter defibrillators market?
A4. Geographically, the European region is projected to hold a notable share in the implantable cardioverter defibrillators market due to higher adoption of ICDs, and increasing awareness amongst the patients regarding the ICDs.


Q5. What factors are anticipated to drive the implantable cardioverter defibrillators market growth?
A5. The rapidly increasing geriatric population in many regions across the globe is a major factor responsible for the growth of the implantable cardioverter defibrillators market.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Implantable Cardioverter Defibrillators Market Analysis, By Chamber
5.1. Introduction
5.2. Single Chambered
5.3. Dual Chambered

6. Global Implantable Cardioverter Defibrillators Market Analysis, By Type
6.1. Introduction
6.2. Subcutaneous ICD 
6.3. Transvenous ICD
6.4. Cardiac Resynchronization Therapy Defibrillator

7. Global Implantable Cardioverter Defibrillators Market Analysis, By End-User
7.1. Introduction
7.2. Hospitals & Clinics
7.3. Ambulatory Care Centre

8. Global Implantable Cardioverter Defibrillators Market Analysis, By Geography
8.1. Introduction
8.2.  North America 
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico 
8.2.4. Others 
8.3. South America 
8.3.1. Brazil
8.3.2. Argentina 
8.3.3. Others
8.4. Europe 
8.4.1. United Kingdom
8.4.2. Germany 
8.4.3. France 
8.4.4. Italy 
8.4.5. Spain 
8.5. The Middle East and Africa 
8.5.1. Saudi Arabia
8.5.2. Israel 
8.5.3. Others 
8.6. Asia Pacific 
8.6.1. Japan
8.6.2. China 
8.6.3. India
8.6.4. Indonesia
8.6.5. Taiwan
8.6.6. Thailand 
8.6.7. Others 

9. Competitive Intelligence
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investment and Deals
9.3. Strategies of Key Players

10. Company Profiles
10.1. Boston Scientific Corporation
10.2. Medtronic, PLC
10.3. MicroPort Scientific Corporation
10.4. LivaNova PLC
10.5. Abbott Laboratories

Boston Scientific Corporation

Medtronic, PLC

MicroPort Scientific Corporation

LivaNova PLC

Abbott Laboratories

Pricing

Explore Custom Options available with this study:

  •  Request customization
  •  Buy sections of the study
  •  Buy country specific report
  •  Request excel, Historical data
  •  Subscription inquiry
  •  Request special pricing

Our Value Proposition

Analyst Support

All our studies come with 2 months of analyst support.


Confidentiality

We are in compliance with the global privacy laws.

Connect With Us