According to MRFR analysis, the global implantable cardioverter defibrillator market size is expected to register a CAGR of 5.96% during the forecast period. Implantable Cardioverter Defibrillator (ICD) is used to record the heart's activity and treat dangerous ventricular arrhythmias with an electrical shock or pulse to the heart. Factors such as the growing aging population, changing lifestyles such as smoking and alcohol consumption, and the increase in demand for cardiac implants are responsible for the increasing prevalence of cardiac arrhythmias globally. This is likely to fuel the growth of the ICD market during the forecast period. In addition to this, improving efficacy of ICDs for the treatment of cardiac diseases over a period will also fuel the market. According to the American Heart Association, approximately 1.5 million cases of myocardial infarction occur annually, and the incidence rate is approximately 600 cases per 100,000 people in the US. According to the American College of Cardiology Foundation, sudden cardiac arrest (SCA) is also one of the leading causes of death worldwide and is responsible for 250,000 to 450,000 deaths per year in the US. Also, coronary artery disease is a major risk factor for sudden cardiac arrest (SCA).
The global implantable cardioverter defibrillator (ICD) market is currently dominated by numerous market players. The key players are involved in new product launches and strategic collaborations to strengthen their market positions. For instance, in May 2019, the US Food and Drug Administration (FDA) has approved Boston Scientific's Emblem S-ICD that is used in the treatment of cardiovascular diseases. Through this approval, Boston Scientific focuses on strengthening its position in the US ICD market. Medtronic is developing Extravascular (EV) ICD system, an innovative subcutaneous implantable defibrillator ICD that is designed to terminate arrhythmias, post-shock pacing to protect from sudden cardiac arrest, and temporary back-up bradycardia pacing.
Segmentation
By Type
- Regular ICD: Holdsthe highest share in the market due to the increasing occurrences and growing incidence rates of autoimmune diseases.
- Cardiac Resynchronization Therapy Defibrillators (CRT-D): Holds the second-largest share in the market and is expected to grow at a moderate rate during the forecast period. The growth is mainly due to increasing cardiac arrests among patients, RD by major players, and strategic partnerships
- Subcutaneous-ICD (S-ICD): Holds the third-largest share in the market and is expected to grow at a steady rate in the market during the forecast period. New product launches, manufacturing facility expansion in emerging countries such as India, China, Brazil, and other emerging countries could drive the market.
- Others: Covers accessories and small component parts of implantable cardioverter defibrillators. This segment holds the least share in the market.
By Indication
- Myocardial Ischemia: Myocardial Ischemia is the largest as well as the fastest-growing segment by indication as ICDs are majorly used in the treatment of myocardial ischemia. Moreover, the prevalence rate of sudden cardiac arrests is rising. Myocardial ischemia is further segmented into symptomatic and asymptomatic.
- Acute Myocardial Infarction: It is the second-largest segment in the market, and this condition is also commonly called a heart attack. Acute myocardial infarction is a life-threatening condition that occurs when blood flow to the heart muscle is abruptly cut off, causing tissue damage. It is the second-largest segment in the market by indication.
- Electrolyte Imbalance and Drug Toxicity: It is the third-largest and fastest-growing segment in the market.
By End User
- Hospitals Clinics: This is the largest and fastest-growing market segment and is projected to grow well beyond the forecast period. Hospitals and clinics are primary care centers for individuals afflicted with type-1 diabetes and are also cost-effective. Moreover, in countries with government-funded healthcare and a high prevalence of type-1 diabetes, hospitals and clinics are the main treatment centers, which drives the growth of the segment.
- Ambulatory Surgical Centers: A more specialized treatment option, a large number of specialty centers have established across the US and are being opened in developing nations such as India and China. This segment is growing due to the increased number of individuals afflicted with the condition and the higher returns on investment from specialty centers as compared to hospitals and clinics.
- Others: The ease of availability and delivery of diabetes medication has led to patients opting for home treatment. The segment also covers old age homes as the geriatric population is highly susceptible to type-1 diabetes. The segment is expected to grow as awareness regarding the condition increases along with the ease of treatment.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The ICD market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The ICDs market in the Americas is likely to hold a major share owing to the increased patient pool. The European ICD market has been sub-divided classified as Western Europe and Eastern Europe. The Western European market has further been classified categorized as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The ICD market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Asia-Pacific ICD market is projected to be the fastest-growing due to the increasing incidences of acute myocardial infarction and myocardial infraction, growing aging population, and changing lifestyle (smoking and alcohol consumption) in the region. The ICD market in the Middle East Africa has been divided into the Middle East and Africa.
Key Players
- Abbott Laboratories (US)
- BIOTRONIK (Germany)
- Boston Scientific Corporation (US)
- Medtronic (Ireland)
- MicroPort Scientific Corporation (China)
- Koninklijke Philips N.V. (Netherlands)
- Nihon Kohden Corporation (Japan)
- Progetti Srl (Italy)
- Fukuda Denshi Co., Ltd (Japan)
- Getinge (Sweden)
- ZOLL Medical Corporation (US)
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