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Implantable Defibrillator Market Outlook

The implantable defibrillator market size is projected to be valued at US$ 3,652.12 Mn in 2022 and is expected to rise to US$ 6,063.21 Mn by 2032. The sales of implantable defibrillators are expected to grow at a significant CAGR of 5.2% during the forecast period. Some of the crucial factors driving the implantable defibrillator industry growth are:

  • The rising prevalence of target diseases, a growing emphasis on providing public-access defibrillators, and defibrillator training and awareness campaigns are driving industry expansion.
  • Growing markets and the development of S-ICDs and MRI-compatible ICDs & CRT-Ds are likely to provide potential prospects for implantable defibrillator industry participants.
  • The fact that sudden cardiac arrest accounts for roughly half of all fatalities from cardiovascular illnesses are expected to spur market innovation and raise demand for both ICDs and external implantable defibrillators.
  • Another crucial component contributing to the increased prevalence of CVD is the world's aging population, as aging is connected with gradual degradation in the structure and function of the heart and works as a catalyst in the development of chronic illnesses.
  • As the global elderly population grows, the prevalence of heart disease is predicted to rise, propelling the demand for implantable defibrillators.

Implantable Defibrillator Market Value (2022)

US$ 3,652.12 Mn

Implantable Defibrillator Market Forecast Value (2032)

US$ 6,063.21 Mn

Implantable Defibrillator Market CAGR (2022-2032)

5.2%

Implantable defibrillator is a small battery powered device that is placed in the chest of a patient which monitors the heart of the patient. Implantable defibrillator device consists of thin wires that connect the defibrillator to the heart of the patient, and continuously monitors the patient’s heart rate. If there is any abnormality in the patient’s heartbeat, the implantable defibrillator sends electrical impulse to restore the normal heart rhythm.

Implantable defibrillators are useful in saving patients’ lives with known history of ventricular tachycardia and arrhythmias. Implantable defibrillator consists of a pulse generator which is a battery powered electronic circuit, and one or more electrode leads which are placed into the patient heart through a vein.

The implantable defibrillator works on three principles, pacing, cardioversion, and defibrillation. During pacing, a small electrical discharge is released in cases of mild abruptions in the heart rhythm, while the cardioversion principle works when a more serious problem arises. Defibrillation principle is the strongest form of electrical impulse to restore normal heartbeat.

The implantable defibrillators are used in treating sudden cardiac arrest caused due to ventricular fibrillation, cardiac arrhythmias, especially in cases of pulseless ventricular tachycardia. Any person with a history of a ventricular arrhythmia, heart attack, sudden cardiac arrest, or congenital heart disease, may need an implantable defibrillator.

New and more advanced version of Implantable Defibrillator are launched in the global market, which are just placed beneath the skin outside the ribcage, and do not contain any electrodes that are attached to the heart.

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Innovations and Advancements in Implantable Defibrillators to Be a Top Priority of Manufacturers

Automated external defibrillators, manufactured by some of the major players are used to save the lives of patients who have suffered from cardiac arrest. Even inexperienced onlookers can utilize these gadgets in an emergency. Other implantable defibrillators are invented to aid patients who are in danger of dying as a result of a life-threatening arrhythmia. Implantable defibrillators were only suggested for people who had survived a cardiac arrest.

Defibrillator implantation is now considered an outpatient surgery due to advancements in surgical methods and technology. Thus, increased research funding, increased government backing, changes in the regulatory framework, technical developments, and an increase in chronic illness incidence are expected to boost the global implantable defibrillator industry over the forecast period.

The increased attention of major players in emerging markets in this area, new product introductions, and a greater emphasis on supplier contracts are all fueling the expansion of the implantable defibrillator industry. However, problems such as the limited availability of defibrillators during crises and a scarcity of educated and competent technicians in developing countries limit the region's demand for implantable defibrillators.

Emerging Economies Guarantee Exciting Future Prospects for Implantable Defibrillator Manufacturers

Due to the increased prevalence of cardiovascular illness and improved healthcare infrastructure in these nations, emerging economies provide considerable growth opportunities for players in the implantable defibrillator industry. According to a study, yearly cardiovascular events are expected to rise by more than 50% between 2022 and 2032.

The market for implantable defibrillators is expanding because of technological breakthroughs such as the introduction of quadripolar lead devices to increase device programming and battery life, as well as the creation of MRI-safe ICDs. Furthermore, the rising prevalence of atrial fibrillation and the increased risk of sudden cardiac arrest (SCA) drive demand for implantable defibrillator devices. Furthermore, the emergence of subcutaneous ICD technology changed cardiac rhythm management therapy techniques using these devices.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

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Implantable Defibrillator Market: Drivers and Restraints

The global market for Implantable Defibrillator is expected to be driven by the increasing incidences of cardiovascular diseases, increasing geriatric population around the world, changing lifestyle, increased smoking, rising prevalence of strokes, and increasing technological advancements in the medical devices industry.

According to Centers of Disease Control (CDC), around 735,000 Americans have a heart attack every year. Of these 525,000 have a heart attack for the first time, while 210,000 have a second incidence of heart attacks. According to Heart Foundation, in 2013 heart diseases were responsible for around 43,602 deaths in Australia.

In the U.K., stroke occurs every 150,000 times a year, and there were an estimated 1.2 Mn stroke survivors in the U.K. In 2014, according to Stroke association of U.K., these factors have resulted in increased demand for implantable defibrillators around the world. Increasing incidences and awareness of cardiovascular diseases in the Asia Pacific region, is expected to drive the growth of the market during the forecast period.

Implantable Defibrillator Market: Overview

Single chambered implantable defibrillators segment is expected to dominate the global implantable defibrillator market in terms of value during the forecast period owing to factors such as cost effectiveness, easy to use, and technological advances in the Implantable defibrillator devices.

Based on end user segmentation, hospitals is expected to dominate the global implantable defibrillators market in terms of value, due to increasing cardiac surgeries, improving hospital infrastructure and increased adoption of sophisticated and advanced technologies by hospitals.

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Implantable Defibrillator Market: Regional Overview

Region wise, the global Implantable Defibrillator market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA).

North America dominated the global market for implantable defibrillators in terms of value and volume, due to availability of reimbursement policies for surgical procedures, and increased demand for implantable defibrillators. Increasing incidences of cardiovascular diseases owing to changing lifestyle and increasing geriatric population in the APEJ region is expected to boost the market growth in APEJ region.

Implantable Defibrillator Market: Key Players

Some of the key players in global Implantable Defibrillator market include Boston Scientific Corporation, LivaNova PLC Company, MicroPort Scientific Corporation, Mayo Clinic US, Imricor Medical Systems, Inc., Medtronic plc, MRI Interventions, Inc., and St. Jude Medical, Inc.

The report covers exhaustive analysis on

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest of Western Europe)
  • Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
  • Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand, Rest of APEJ)
  • Japan
  • Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Implantable Defibrillator Market: Segmentation

The global Implantable Defibrillator market is classified on the basis of product type, procedure type, end user, and geography.

Based on product type, the global Implantable Defibrillator market is segmented into the following:

  • Single ChamberedImplantable Defibrillators
  • Dual Chambered Implantable Defibrillators
  • Biventricular Implantable Defibrillators

Based on procedure type, the global Implantable Defibrillator market is segmented into the following:

  • Trans-Venous Implantable Defibrillators
  • Subcutaneous Implantable Defibrillators

Based on end user, the global Implantable Defibrillator market is segmented into the following:

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers

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