Implantable Cardioverter Defibrillator Market Size, Share and Industry Analysis By Product Type (Transvenous ICD, Subcutaneous ICD), End User (Hospitals & Clinics, Ambulatory Surgery Centers and Others) & Regional Forecast, 2019 - 2032

The global implantable cardioverter defibrillator market size was valued at USD 6,684.4 million in 2018 and is projected to reach USD 9,919.6 million by the end of 2032, exhibiting a CAGR of 2.9% during the forecast period (2018-2032). An implantable cardioverter-defibrillator is an implantable electronic device which is effective for the treatment of sudden cardiac arrest as well as for arrhythmia. The device can be programmed to detect an abnormal heart rate and to deliver electric shocks as per requirement.

According to data published by the National Institutes of Health in 2016, an estimated 450,000 population suffered from sudden cardiac death. Additionally, the prevalence of sudden cardiac arrest is rapidly increasing in emerging nations such as China, India, and Brazil. Growth of certain risk factors such as smoking, sedentary lifestyle and obesity are projected to increase the prevalence of sudden cardiac arrest which is expected to boost the demand for ICD during the forecast period.

"Subcutaneous ICD is expected to emerge as the most attractive type"

Subcutaneous ICD is slightly different than traditional transvenous ICD as the lead of subcutaneous ICD remains completely outside of the heart chambers. Moreover, it requires higher battery capacity and is larger in size as compared to transvenous ICD. In October 2012, Boston Scientific Corporation launched the world’s first subcutaneous ICD in the global market.

As advanced ICD has a lesser risk of lead poisoning as compared to the transvenous ICD, the implantable cardioverter defibrillator market is expected to witness higher adoption of subcutaneous ICD during the forecast period. Transvenous ICD accounted for a significant market share in 2018. Among the product types, subcutaneous ICD is expected to be the fastest-growing segment globally.

In terms of transvenous ICD, the market is categorized into single-chamber ICD, dual-chamber ICD, and CRT-D (cardiac resynchronization therapy- defibrillator). The CRT-D accounted for the maximum market share in 2018, owing to the higher adoption of the device and higher acquisition cost, most prominently in developed countries. Additionally, the hospitals & clinics in the end user segment are expected to register comparatively higher share in the implantable cardioverter defibrillator market share owing to the higher prevalence of sudden cardiac arrests.  

Regional Analysis

"Extensively Higher Adoption of ICD Implants and Higher Prevalence of Sudden Cardiac Arrest Enables Market to Hold Considerable Share in Europe"

Europe generated a revenue of USD 3,376.8 Mn in 2018 and is expected to dominate the market throughout the forecast period. Higher adoption of ICD implants owing to a higher prevalence of sudden cardiac arrests is responsible to hold a higher share of the market in Europe. Moreover, increasing awareness amongst patients and favorable reimbursement policies are projected to boost the implantable cardioverter defibrillator market in Europe. North America is anticipated to be the second most prominent region in terms of revenue by 2026.

Key Market Drivers 

"Medtronic and Boston Scientific Corporation to Account for More Than Half of the Market Share in Terms of Revenue"

Medtronic is a leading player in the implantable cardioverter defibrillator market. Medtronic is estimated to retain its position in the forecast duration owing to its diverse product offering in implantable defibrillator segment, efficient customer reach, and strong brand presence. This company together with Boston Scientific Corporation currently holds over half of the market share in terms of revenue. Other players operating in the implantable cardioverter defibrillator market are Abbott, LivaNova PLC, MicroPort, BIOTRONIK, and others.

Key companies covered in the report

• Medtronic


• Boston Scientific Corporation


• Biotronik


• LivaNova Plc


• Abbott


• Microport


• Other prominent players

Report Overview 

Implantable cardioverter defibrillator (ICD) offers an effective treatment option to deal with sudden cardiac arrest and arrhythmia. ICD plays a major role in detecting irregular heart rhythm and to provide effective electric shocks with the aim to regularize the heartbeat. The rapidly increasing prevalence of sudden cardiac deaths and unmet demand in emerging nations are expected to drive the implantable cardioverter defibrillator market growth by 2026.

 The report provides qualitative and quantitative insights on the implantable cardioverter defibrillator industry and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product, by the end user, and by region. On the basis of the product type, the implantable cardioverter defibrillator market is segmented into transvenous ICD and subcutaneous ICD.

Transvenous ICD is further segmented as single chamber ICD, dual chamber ICD, and CRT-D (cardiac resynchronization therapy- defibrillator). Various end users covered under the report are hospitals & clinics and ambulatory surgery centers and others. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and the rest of the World. The regions are further categorized into countries.

Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of sudden cardiac arrests in key countries, technological advancements in implantable cardioverter defibrillators, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, new products launches, reimbursement scenario, and key industry trends.

SEGMENTATION

Key Industry Developments

• In April 2019, Biotronik launched a newly developed implantable defibrillator of the Acticor series. Newly launched devices have less leads, reduced procedure time as well as reduced costs.


• In February 2015, Boston Scientific Corporation launched Extended Longevity Implantable Defibrillators, which are comprised of EnduraLife battery technology. This technology offers extended battery life for the defibrillator, resulting in a reduction of replacements and maintenance.


• In December 2016, Boiotronik launched Ulta-high energy defibrillators in the U.S. market for the treatment of heart failure.