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Implantable Cardioverter-defibrillators Market – Global Industry Insights, Trends, Outlook, and Analysis, 2016 - 2024
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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.
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.
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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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