Implantable Defibrillator Market Growth, Trends, Absolute Opportunity and Value Chain 2016-2026

Implantable defibrillator is a small battery powered device that is placed in the chest of a patient which monitors the heart of the patient. Implantable defibrillator device consists of thin wires that connect the defibrillator to the heart of the patient, and continuously monitors the patient’s heart rate. If there is any abnormality in the patient’s heartbeat, the implantable defibrillator sends electrical impulse to restore the normal heart rhythm. Implantable defibrillators are useful in saving patients’ lives with known history of ventricular tachycardia and arrhythmias. Implantable defibrillator consists of a pulse generator which is a battery powered electronic circuit, and one or more electrode leads which are placed into the patient heart through a vein. The implantable defibrillator works on three principles, pacing, cardioversion, and defibrillation. During pacing, a small electrical discharge is released in cases of mild abruptions in the heart rhythm, while the cardioversion principle works when a more serious problem arises. Defibrillation principle is the strongest form of electrical impulse to restore normal heartbeat. The implantable defibrillators are used in treating sudden cardiac arrest caused due to ventricular fibrillation, cardiac arrhythmias, especially in cases of pulseless ventricular tachycardia. Any person with a history of a ventricular arrhythmia, heart attack, sudden cardiac arrest, or congenital heart disease, may need an implantable defibrillator. New and more advanced version of Implantable Defibrillator are launched in the global market, which are just placed beneath the skin outside the ribcage, and do not contain any electrodes that are attached to the heart.

Implantable Defibrillator Market: Drivers and Restraints

The global market for Implantable Defibrillator is expected to be driven by the increasing incidences of cardiovascular diseases, increasing geriatric population around the world, changing lifestyle, increased smoking, rising prevalence of strokes, and increasing technological advancements in the medical devices industry. According to Centers of Disease Control (CDC), around 735,000 Americans have a heart attack every year. Of these 525,000 have a heart attack for the first time, while 210,000 have a second incidence of heart attacks. According to Heart Foundation, in 2013 heart diseases were responsible for around 43,602 deaths in Australia. In the U.K., stroke occurs every 150,000 times a year, and there were an estimated 1.2 Mn stroke survivors in the U.K. In 2014, according to Stroke association of U.K., these factors have resulted in increased demand for implantable defibrillators around the world. Increasing incidences and awareness of cardiovascular diseases in the Asia Pacific region, is expected to drive the growth of the market during the forecast period.

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Implantable Defibrillator Market: Segmentation

The global Implantable Defibrillator market is classified on the basis of product type, procedure type, end user, and geography.

Based on product type, the global Implantable Defibrillator market is segmented into the following:

Single ChamberedImplantable Defibrillators

Dual Chambered Implantable Defibrillators

Biventricular Implantable Defibrillators

Based on procedure type, the global Implantable Defibrillator market is segmented into the following:

Trans-Venous Implantable Defibrillators

Subcutaneous Implantable Defibrillators

Based on end user, the global Implantable Defibrillator market is segmented into the following:

Hospitals

Specialty Clinics

Ambulatory Surgical Centers

Implantable Defibrillator Market: Overview

Single chambered implantable defibrillators segment is expected to dominate the global implantable defibrillator market in terms of value during the forecast period owing to factors such as cost effectiveness, easy to use, and technological advances in the Implantable defibrillator devices. Based on end user segmentation, hospitals is expected to dominate the global implantable defibrillators market in terms of value, due to increasing cardiac surgeries, improving hospital infrastructure and increased adoption of sophisticated and advanced technologies by hospitals.

Implantable Defibrillator Market: Regional Overview

Region wise, the global Implantable Defibrillator market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA). North America dominated the global market for implantable defibrillators in terms of value and volume, due to availability of reimbursement policies for surgical procedures, and increased demand for implantable defibrillators. Increasing incidences of cardiovascular diseases owing to changing lifestyle and increasing geriatric population in the APEJ region is expected to boost the market growth in APEJ region.

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Implantable Defibrillator Market: Key Players

Some of the key players in global Implantable Defibrillator market include Boston Scientific Corporation, LivaNova PLC Company, MicroPort Scientific Corporation, Mayo Clinic US, Imricor Medical Systems, Inc., Medtronic plc, MRI Interventions, Inc., and St. Jude Medical, Inc.

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