Implantable Cardioverter Defibrillator Market Revenue Growth is Driven by Growing Focus on Public Access Defibrillators and ICD Education and Awareness Programs
VANCOUVER, BC, CANADA, May 9, 2022 /EINPresswire.com/ — The Global Implantable Cardioverter Defibrillator Market research study published by Emergen Research is an extensive collection of insightful information on the Cardiology industry. implantable automatic defibrillators. The report covers Implantable Defibrillator market segmentation along with a detailed overview of the Implantable Defibrillator market size in terms of volume and valuation. The report provides complete coverage of Implantable Defibrillator market scenario for the current period and forecast timeframe from 2020-2027. The Implantable Cardiac Defibrillator Market report contains an in-depth historical, current, and forecasted revenue analysis for each vertical, segment, end-use industries, applications, and regions.
The global implantable cardiac defibrillator (ICD) market size is expected to reach USD 8.81 billion at a steady CAGR of 2.7% in 2028, according to the latest analysis from Emergen Research. The implantable cardioverter defibrillator market is growing due to an increase in the prevalence of heart diseases. Rising risk factors such as obesity and increase in sedentary lifestyle are other key factors driving the growth of the INN market.
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The implantable cardioverter defibrillator is a small, battery-powered device placed on an individual’s chest to monitor heart rhythm and detect abnormal heartbeats. The device can deliver electric shocks through wires to correct cardiac arrhythmias. Rising prevalence of cardiovascular diseases and rising global geriatric population are factors fueling the growth of the market to a large extent. The emergence of the MRI-enabled implantable cardioverter defibrillator is also expected to contribute to the market revenue growth. The upsurge in the adoption of subdermal ICDs due to various benefits is also expected to fuel the market revenue growth.
Many healthcare facilities are rapidly adopting advanced technologies in their patient monitoring programs. The latest generation of ICDs are compatible with web-based automated remote monitoring systems. The integration of machine learning (ML) and artificial intelligence (AI) with these technologies is expected to continue to support market revenue growth. However, the high cost of ICDs and low awareness about the benefits of these devices are expected to limit the market revenue growth to some extent. The risk of device malfunction is also a factor that may hamper the growth of the market.
Leading companies reviewed in the Implantable Cardiac Defibrillator Market report include:
Boston Scientific Corporation, Abbott Laboratories, Biotronik, Medtronic PLC, LivaNova PLC, MicroPort, Sorin Group, Koninklijke Philips NV, Fukuda Denshi Co. Ltd. and Physio-Control, Inc. Others
Some highlights of the report
In February 2020, Abbott announced that it had received CE Marking for its Gallant Implantable Cardioverter Defibrillator and Cardiac Resynchronization Therapy Defibrillators, bringing advanced cardiac rhythm management capabilities to market in Europe. The new device opens up potential for remote monitoring and patient engagement through connected apps. Other product benefits include improved battery life, patient-preferred design, and MRI compatibility.
The subcutaneous ICD (S-ICD) segment accounted for a significantly large revenue share in 2020. S-ICD has advantages over traditional systems, especially for younger patients in whom the risk of device-related complications is extremely high. In addition, S-ICD poses no risk of pneumothorax or vascular injury. The S-ICD has aesthetic advantages due to its anatomical location despite its larger size.
The Hospitals and Clinics segment accounted for the largest share of revenue in 2020, as these facilities are the primary point of care for the treatment of heart disease, including cardiac arrest. Rising incidence of death due to cardiovascular disease is driving the revenue growth of this segment as hospitals have advanced medical infrastructure and treatment facilities.
The Asia-Pacific implantable cardioverter defibrillator market revenue is expected to continue to register a rapid revenue growth rate over the forecast period owing to rapid economic growth in countries such as India and China. The high adoption of implantable cardioverter defibrillators due to the emergence of a number of more advanced hospitals in developing countries is expected to contribute to the market revenue growth.
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Emergen Research has segmented the global market for implantable cardioverter defibrillators on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Single chamber ICD
Dual chamber ICD
CRT-D (cardiac resynchronization therapy-defibrillator)
End-Use Channel Outlook (Revenue, USD Billion; 2018-2028)
Hospitals & Clinics
Ambulatory surgery centers
Regional Outlook (Revenue, USD Billion; 2018-2028)
The rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA
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The report addresses the following key points:
The report estimates the expected market size from 2020 to 2027
The report provides a forecast of market drivers, restraints, and future opportunities for the Implantable Cardiac Defibrillator Market
The report further analyzes changing market dynamics
Regional analysis and market segmentation with analysis of regions and segments expected to dominate market growth
Comprehensive competitive landscape mapping with key competitor profiles
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by leading companies
Revenue forecast, country scope, application information and product information
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