Implantable Defibrillators Market Report, published by Allied Market Research, forecasts that the global market was valued at $6,006 million in 2015 and is expected to garner $8,449 million by 2022, registering a CAGR of 4.9% during the forecast period 2016 – 2022. Transvenous implantable cardioverter defibrillators (T-ICDs) segment accounted for more than half of the global market in 2015.
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Implantable defibrillators are used to prevent sudden death in patients who sustained atrial fibrillation or ventricular tachycardia. These devices are implanted inside the patient’s body and are able to perform defibrillation, the pacing of the heart, and cardioversion. The irregular heart rhythms that require ICD implant include bradycardia, ventricular tachycardia, and ventricular fibrillation.
Surge in geriatric population; increase in the prevalence of chronic health conditions such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia, growth in preference for S-ICDs, and rise in in awareness among patients about implantable defibrillators are expected to drive the market growth. However, lack of awareness towards the availability of implantable defibrillator to prevent sudden cardiac arrest (SCA) and adoption of these devices in low- and middle-income economies are projected to hamper the market growth.
Transvenous implantable cardioverter-defibrillator (T-ICDs) segment dominated the global market in 2015, in terms of value, and is expected to maintain this trend throughout the analysis period. T-ICDs are the most commonly for the treatment of heart disorders for higher precision and targeted functioning. However, in terms of volume, CRT-D is projected to lead the market, reaching 1,127 thousand units by 2022, registering a CAGR of 8.9%.
North America led the global market in 2015 and is expected to maintain its dominance during the forecast period. This is attributed to the rise in the incidence of sudden cardiac arrest (SCA), an increase in adoption of S-ICDs, high purchasing power, and availability of advanced healthcare facilities.
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Key Findings of Implantable Defibrillators Market
• In 2015, T-ICDs led the overall implantable defibrillator market revenue and is projected to grow at a CAGR of 4.9% during the forecast period.
• The CRT-D segment occupied the highest share in 2015, and is expected to grow at a CAGR of 8.9%, in terms of volume.
• North America was the leading consumer of implantable defibrillators in 2015, both in terms of value and volume, followed by Europe.
• Japan is expected to lead market in the Asia-Pacific region, growing at a CAGR 6.2%.
Key players operating in the market include Boston Scientific Corporation, LivaNova PLC Company, Imricor Medical Systems, MicroPort Scientific Corporation, Mayo Clinic US, Medtronic plc, MRI Interventions, Inc., St. Jude Medical, Inc., Biotronik Se & Co.KG, and Sorin Group.