Find Out What Is the Growth of Implantable Cardioverter Defibrillator Market and What Will Be The CAGR Value During 2020-2028?

Find Out What Is the Growth of Implantable Cardioverter Defibrillator Market and What Will Be The CAGR Value During 2020-2028?
Implantable cardioverter defibrillator market revenue growth is driven by rising focus on public-access defibrillators and training and awareness programs on ICDs

The latest Implantable Cardioverter Defibrillator market research report is a compilation of the latest growth trends and the emerging market segments. The report adeptly draws reader’s attention to the ever-changing patterns of the Implantable Cardioverter Defibrillator industry and its prominent facets, infrastructural properties, and highly dynamic environment. The report lists down some critically important parameters that help the market bolster its global foothold and contribute substantially to future revenue generation. Our team of experts has included specific details related to the Implantable Cardioverter Defibrillator industry, such as product offerings, sales and revenue estimates, leading regions, key market contenders, and technological upgradation in the report.

The global Implantable Cardioverter Defibrillator (ICD) market size is expected to reach USD 8.81 Billion at a steady CAGR of 2.7% in 2028, according to latest analysis by Emergen Research. The market for implantable cardioverter defibrillators is growing due to an increase in prevalence of cardiac diseases. Surge in risk factors such as obesity and rise in sedentary lifestyle are other key factors driving the growth of ICD market.

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 via wires to fix heart arrhythmias. Rising prevalence of cardiovascular diseases and increase in global geriatric population are factors fueling growth of the market to a significant extent. Emergence of MRI-compatible implantable cardioverter defibrillator is also expected to contribute to market revenue growth. Upsurge in adoption of subcutaneous ICDs due to various benefits is also expected to fuel market revenue growth.

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The report by Emergen Research, titled ‘Global Implantable Cardioverter Defibrillator Market,’ studies a wide spectrum of factors impacting the performance of the Implantable Cardioverter Defibrillator market. The report includes a historical analysis of the market from 2017 to 2018 to provide the reader with a deep understanding of the current market scenario. Moreover, it offers accurate market estimations for the forecast period (2019-2028).

The report is the latest document encompassing the profound changes in the market dynamics and trends that followed the COVID-19 outbreak. The global health crisis has led to massive changes in the global economic scenario and, particularly, this business sphere. The pandemic has drastically affected the Implantable Cardioverter Defibrillator market with disruptions to supply chains and volatility in prices and demands. The remarkable impact of the pandemic on the Implantable Cardioverter Defibrillator industry and its crucial segments has been depicted in the report. However, the market is expected to regain momentum in the post-COVID scenario, as per market experts.

Competitive Landscape:

The research offers an in-depth survey about the performance of each key player in the Implantable Cardioverter Defibrillator market. It provides information about their current advancements and key market strategies. The Implantable Cardioverter Defibrillator report also aims to provide additional information about suppliers, buyers, and manufacturers. The study offers a comprehensive analysis of market share, consumption, growth rate, and product type, and application growth. It further offers comprehensive coverage of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and partnerships, among others. The company profiles of the established and new players have also been assessed in the Implantable Cardioverter Defibrillator report through effective analytical tools like SWOT analysis.

Top key Companies in Implantable Cardioverter Defibrillator Market are:

Boston Scientific Corporation, Abbott Laboratories, Biotronik, Medtronic PLC, LivaNova PLC, MicroPort, Sorin Group, Koninklijke Philips N.V., Fukuda Denshi Co. Ltd., and Physio-Control, Inc.

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Segmentation Landscape:

The report further segments the Implantable Cardioverter Defibrillator market on the basis of product types and application spectrum offered in the market. The report also offers insights into the segment expected to show significant growth over the projected period. The study focuses on the growth rate of every segment and is explained through detailed graphs, figures, charts, and tables. These segments are analysed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Implantable Cardioverter Defibrillator industry in key regions.

Emergen Research has segmented the global implantable cardioverter defibrillator market on the basis of product type, end-use, and region:

  • Product Type Outlook (Revenue, USD Billion; 2018–2028)
    • Transvenous ICD
      1. Single Chamber ICD
      2. Dual Chamber ICD
      3. CRT-D (cardiac resynchronization therapy-defibrillator)
    • Subcutaneous ICD
  • End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
    • Hospitals & Clinics
    • Ambulatory Surgery Centers
    • Others

Some Key Highlights From the Report

  • In February 2020, Abbott announced that it has received CE Mark for its Gallant implantable cardioverter defibrillator and cardiac resynchronization therapy defibrillator devices, bringing advanced heart rhythm management capabilities to the market in Europe. The new device opens up potential for remote monitoring and patient engagement through connected applications. Other benefits of the product includes improved battery life, patient preferred design, and MRI compatibility.
  • Subcutaneous ICD (S-ICD) segment accounted for a significantly large revenue share in 2020. S-ICD has advantages over traditional systems, especially for young patients in whom the risk of device-related complications is extremely high. Moreover, S-ICD poses no risk of pneumothorax or vascular injury. S-ICD has cosmetic advantages due to its anatomic location despite its larger size.
  • Hospitals & clinics segment accounted for largest revenue share in 2020 as these settings are the major point of care for treatment of heart diseases, including cardiac arrest. Rising incidence of deaths due to cardiovascular diseases is driving revenue growth of this segment as hospitals have advanced medical infrastructure and treatment facilities.
  • Implantable cardioverter defibrillator market revenue in Asia Pacific is expected to continue to register a rapid revenue growth rate during the forecast period due to rapid economic growth in countries such as India and China. High adoption of implantable cardioverter defibrillators due to emergence of a number of more advanced hospitals in developing countries is expected to contribute to market revenue growth.

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Regional Landscape:

The report gives a comprehensive analysis of the Implantable Cardioverter Defibrillator market at the global and regional level, and the forecast has been presented in terms of value and price for the period of 8 years from 2020-2027. The report covers an extensive study of the market drivers and restraints on the global scale and provides an impact analysis of those market drivers and restraints on the demand and supply ratio for the Implantable Cardioverter Defibrillator market throughout the forecast period.

The complete regional analysis covers:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The Global Implantable Cardioverter Defibrillator Market is formulated through extensive primary and secondary research, which is further validated and verified by industry experts and professionals. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. Moreover, the report also offers a feasibility study and investment return analysis to assist the readers in making strategic investment plans.

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Key takeaways of the Global Implantable Cardioverter Defibrillator Market report:

  • The report sheds light on the fundamental Implantable Cardioverter Defibrillator market drivers, restraints, opportunities, threats, and challenges.
  • It elaborates on the new, promising arenas in the leading Implantable Cardioverter Defibrillator market regions.
  • It examines the latest research & development projects and technological innovations taking place in the key regional segments.
  • The research report reviews the regulatory framework for creating new opportunities in various regions of the Implantable Cardioverter Defibrillator market
  • It focuses on the new revenue streams for the players in the emerging Implantable Cardioverter Defibrillator markets.
  • Furthermore, the report offers vital details about the rising revenue shares and the sizes of the key product segments.

Overview of the TOC of the Report:

  • Introduction, Scope, and Overview
  • Opportunities, Risks, and Drivers
  • Competition landscape analysis with sales, revenue, and price
  • Extensive Profiling of the Implantable Cardioverter Defibrillator key competitors with the sales figures, revenue, and market share
  • Regional analysis with sales, revenue, and market share for each region for the forecast period
  • Country-wise analysis of the Implantable Cardioverter Defibrillator market by type, application, and manufacturers
  • Implantable Cardioverter Defibrillator Market Segmentation based on types
  • Implantable Cardioverter Defibrillator Market segmentation based on applications
  • Historical and forecast estimation.

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