Implantable Cardioverter Defibrillator Market to Grow at a 5.6% CAGR from 2023-2031, Reaching US$ 5.8 Billion: TMR Report

Wilmington, Delaware, United States, 2024-Mar-05 — /EPR Network/ — Transparency Market Research Inc. –

The rise in prevalence of cardiovascular diseases and associated risk factors such as hypertension and heart failure is expected to be a key driver during this period. Increased demand for effective cardiac rhythm management devices, particularly implantable cardioverter defibrillators (ICDs), due to an aging global population and higher incidence of these conditions, will further propel market growth. Additionally, the adoption of remote monitoring and telehealth solutions in healthcare is anticipated to bolster market expansion. Technological advancements and product innovation present lucrative opportunities for market players, with a focus on improving battery longevity, miniaturization of devices, and enhancing sensing and detection algorithms to make ICDs more reliable, efficient, and patient-friendly.

The global implantable cardioverter defibrillator market, valued at US$ 3.6 Bn in 2022, is projected to grow at a CAGR of 5.6% from 2023 to 2031, reaching over US$ 5.8 Bn by 2031.

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Implantable cardioverter defibrillator is a small electronic device that is surgically implanted beneath the skin, typically near the collarbone. It is designed to monitor the heart’s electrical activity continuously and deliver therapeutic interventions when needed.

The primary function of an ICD is to detect and treat potentially fatal arrhythmias, such as ventricular fibrillation and ventricular tachycardia, by delivering a precisely calibrated electrical shock to restore the heart’s normal rhythm.

Surge in Demand for Transvenous implantable Cardiac Defibrillators

The transvenous implantable cardiac defibrillators (T-ICDs) segment led the global implantable cardioverter defibrillator market in 2022. T-ICDs, the traditional choice, boast extensive clinical experience, offering reliability in managing life-threatening arrhythmias. Their long-standing history and precise transvenous lead placement contribute to accurate therapy delivery. T-ICDs provide dual-chamber therapy, monitoring both ventricular and atrial rhythms, and offer additional features like cardiac resynchronization therapy (CRT) for comprehensive treatment of arrhythmias and heart failure.

Key Players:

Boston Scientific Corporation, BIOTRONIK., Medtronic, LivaNova, Abbott, and MicroPort

Segmentation:

• Product
  • Transvenous Implantable Cardiac Defibrillators (T-ICDs)
    • Cardiac Resynchronization Therapy (CRT)
    • Dual Chamber ICDs
    • Single Chamber ICDs
  • Subcutaneous Implantable Cardiac Defibrillators (S-ICD)

• End-user
  • Hospitals & Clinics
  • Ambulatory Surgery Centers
  • Others

Key Developments:

• In February 2023, Medtronic plc received the CE Mark for the Epsila EV MRI SureScan defibrillation system and the Aurora EV-ICD MRI SureScan lead. These advanced technologies are designed to effectively address rapid and potentially life-threatening heart rhythms that can result in sudden cardiac arrest.
• In November 2022, AtaCor Medical, Inc., a San Clemente-based medical device manufacturer, announced successful completion of its 2nd human clinical study on the Extravascular Implantable Cardioverter Defibrillator (EV-ICD) Lead System.
  • AtaCor Medical is currently in the process of developing a groundbreaking EV-ICD lead designed to administer both shock and pacing therapies to address life-threatening tachyarrhythmias. This innovative lead can be seamlessly connected to commercially available ICD pulse generators, offering a range of comprehensive treatment options.
• In February 2020, Abbott announced that it received the CE Mark for its latest Gallant implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. This achievement signifies a major milestone in providing advanced heart rhythm management capabilities and introducing a range of new benefits to individuals in Europe suffering from abnormal heart rhythms and heart failure.

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Regions Covered:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Drivers and Challenges:

• Drivers: Growing prevalence of cardiovascular diseases, technological advancements in ICDs, increasing adoption of remote monitoring systems.
• Challenges: High cost associated with implantable devices, reimbursement challenges, stringent regulatory requirements.

Market Trends:

• Miniaturization of ICDs for improved patient comfort.
• Integration of artificial intelligence for real-time monitoring and decision-making.
• Development of leadless and subcutaneous ICDs for less invasive procedures.

Future Outlook:

The implantable cardioverter defibrillator market is expected to witness significant growth in the coming years, driven by ongoing technological innovations and increasing adoption of these devices in emerging economies. The focus will be on developing advanced ICDs with enhanced features to improve patient outcomes and quality of life.

Key Market Study Points:

• Market trends and dynamics influencing growth.
• Regulatory landscape and reimbursement policies.
• Competitive analysis and market positioning strategies.
• Technological advancements and product development initiatives.