Implantable Defibrillators Market to Grow at 4.1% CAGR by 2030
Increased cases of cardiovascular diseases among all age groups along with favourable reimbursement scenarios are the factors expected to drive the growth of implantable defibrillator market.
The Implantable Defibrillators Market was valued at USD 7.35 billion in 2019 and is expected to garner USD 11.44 billion by 2030, registering a CAGR of 4.1% during the forecast period 2020 – 2030, according to recent reports by Next Move Strategy Consulting.
Implantable defibrillator is a device powered by a tiny battery that is placed in the chest of a patient in order to monitor the heartbeat and prevent sudden cardiac arrest by delivering shocks at times of abnormal heart beat.
Heart diseases are the top reasons for increasing mortality rate globally. Increasing cardiac complications due to bad life style choices among the people such as smoking, lack of exercise and healthy nutrition along with prevalence of diabetes is propelling the market growth. Also, favourable reimbursement scenarios combined with the rapid increase in population are contributing to the market growth. On the contrary, high cost of devices and risk factors associated such as infection in the chest area along with bleeding around the heart can hamper the market growth. However, the increasing population along with the rising mortality due to cardiac arrests and other heart disease will provide ample opportunities for the implantable heart defibrillator market players to grow and flourish globally.
The implantable defibrillators market is segmented on the basis of product type and geography. On the basis of product type, market is divided into transvenous implantable cardioverter-defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillators (S-ICDS), and cardiac resynchronization therapy defibrillator (CRT-D). Geographically, the market is spread across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and rest of the world (RoW).
Globally, North America dominates the Implantable Defibrillators market as a result of better and advanced medical facilities as well as health centres, compared to other regions. Also, the rising mortality rate due to heart diseases in this region is another underlying factor for the adoption of implantable defibrillators.
The Asia Pacific region is predicted to show consistent growth in terms of market share within the forecast period as the manufacturers of this region are focusing on introducing advanced but cost-effective defibrillator devices to meet the needs of the dense and rapid growing population of this region. Moreover, the unhealthy life style of the people in this region like lack of exercise, consumption of excess oil and spices with food, cigarette smoking and absence of balanced diet leading to increase in cholesterol levels, resulting in cardiovascular diseases will provide ample opportunities for the implantable defibrillators market to grow in the coming years.
Browse key industry insights from the report, “Implantable Defibrillators Market byType (Single Chambered, Double Chambered, Biventricular Chambered), Procedure Type (Transvenous Implantable Cardioverter-Defibrillator (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS), Cardiac Resynchronization Therapy Defibrillator (CRT-D)), End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030” in detail along with the table of contents:
According to the report, the major manufacturing companies of implantable defibrillators are 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. The strategies like development of health care centres in untapped geographies, new and enhanced product launches, mergers and acquisition along with partnerships will lead to a drastic increase in the demand for implantable defibrillators in the coming years.
Key Insights from the Defibrillator Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the defibrillator market report.
- The forecast of the defibrillator market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report implantable defibrillator market – segmented by product type and geography.
About Next Move Strategy Consulting
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.