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Implantable Cardioverter-defibrillators Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2024

Press Release   •   Aug 11, 2017 08:28 EDT

An ICD or implantable cardioverter-defibrillator is a battery-operated device that is placed under the skin of the patient to monitor the user’s heart rate. ICDs are connected to the heart by thin wires. In cases where an abnormal heart beat is detected, implantable cardioverter-defibrillator deliver an electric shock to reinstate a normal heart rhythm if the patient’s heart is beating too fast. Implantable cardioverter-defibrillators have been useful in thwarting sudden deaths in patients with fibrillation or sustained ventricular tachycardia. Various studies have shown that they may prevent cardiac arrest in patients who are at a high risk of life-threatening ventricular arrhythmias. An implantable cardioverter -defibrillator senses when the heart rhythm is not normal and it tries to make the heart rhythm normal. If the device has a pacemaker feature incorporated, it works as a pacemaker when the heartbeat is slow, and transmit tiny electric signals to the heart. However, when the heartbeat is very chaotic or fast, the device gives defibrillation shocks in order to restrain the abnormal rhythm. Implantable cardioverter-defibrillators work for 24 hours a day.

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According to Centers for Disease Control and Prevention (CDC), it is estimated that around 2.7–6.1 million individuals in the U.S. suffered from atrial fibrillation in 2015. The report suggests that the number of occurrences is likely to increase with the increase in number of aging of the population in this region. Roughly 2% of the population who are younger than 65 years of age suffers from AF. However, around 9% of the population with 65 years of age or more suffers from AF. Increasing cases of AF among the global population coupled with advancement in technology will drive the implantable cardioverter-defibrillators market during the forecast period.

Implantable Cardioverter-defibrillators Market Taxonomy

On the basis of type of product, the global market is classified into:

  • Biventricular Implantable Cardioverter Defibrillators
  • Single Chambered
  • Dual Chambered

On the basis of type of procedure, the global market is classified into:

  • Subcutaneous Implantable Cardioverter Defibrillators
  • Trans-Venous Implantable Cardioverter Defibrillators

On the basis of end user, the global market is classified into:

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others

The subcutaneous ICD (S-ICD) is inserted without placing the leads into the heart. The device is inserted below the left axilla, or armpit in line with the rib cage. The lead connected to the device is laired under the skin more willingly than inside the heart. Some of the advantages of the S-ICD are the lack of immediate or long-term complications caused by inserting a lead into the heart, such as collapse of the lung and perforation of the heart. Subcutaneous implantable cardioverter defibrillators are the main driver for the global ICD market due to the aforementioned reasons. The rise in adoption of S-ICDs will propel the overall implantable cardioverter-defibrillators market in the forecast period.

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High prevalence of arrhythmia will drive the overall implantable cardioverter-defibrillators market

The rising old age population and high occurrence of coronary artery diseases are some of the major factors which will propel growth of the implantable cardioverter-defibrillators market. Sedentary lifestyles, unhealthy dietary habits, and lack of proper exercise have resulted into the increased incidences of heart related diseases, especially arrhythmia. The demand for ICDs is rising significantly as healthcare professionals and the governing bodies such as American Heart Association have widely accepted this form of treatment due to its safety, and efficacy. However, the AHA recommends that the arrhythmia in question ought to be life threatening for the patient to be eligible for a cardioverter defibrillator.

North America held the maximum market share in implantable cardioverter defibrillator market globally. Favorable and constructive policies and regulations as well as availability of sophisticated healthcare facilities along with rising approvals about the usage of implantable cardioverter-defibrillators from the governing bodies are likely to fuel the growth of the implantable cardioverter-defibrillators industry in this region.

Some of the key players operating in the global implantable cardioverter-defibrillators market are Imricor Medical Systems, Boston Scientific Corporation, Inc., LivaNova PLC Company, MicroPort Scientific Corporation, Mayo Clinic US, Medtronic plc, St. Jude Medical, Inc., and MRI Interventions, Inc.

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