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Report overview
The global "ICD Devices Market" was valued at USD 8.53 billion in 2023 and is projected to reach USD 13.18 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period (2024-2030).
ICD stands for Implantable Cardioverter Defibrillator. It's a device implanted under the skin, typically near the collarbone, to monitor heart rhythms. If it detects dangerous arrhythmias (irregular heartbeats), it can deliver electric shocks or pacing to restore normal heart rhythms and prevent sudden cardiac arrest.
Market Drivers: Key drivers include the increasing prevalence of cardiovascular diseases, technological advancements in ICD devices, and a growing aging population.
Regional Insights: North America is expected to dominate the market due to high healthcare expenditure, advanced healthcare infrastructure, and high awareness about ICD devices.
Key Players: Major companies in the market include Medtronic, Boston Scientific Corporation, Abbott Laboratories, and BIOTRONIK.
Product Segments: The market is segmented into single-chamber ICDs, dual-chamber ICDs, and biventricular ICDs, with dual-chamber ICDs expected to hold the largest market share.
End-User Segments: Hospitals, specialty clinics, and ambulatory surgical centers are the primary end-users, with hospitals accounting for the largest share due to the high volume of ICD implantations performed in these settings.
Challenges: High costs of ICD devices, stringent regulatory approvals, and potential complications associated with ICD implantation are some of the challenges faced by the market.
Opportunities: Emerging markets in Asia-Pacific and Latin America offer significant growth opportunities due to improving healthcare infrastructure and increasing healthcare spending.
Technological Trends: Innovations such as MRI-compatible ICDs, wireless monitoring systems, and miniaturized devices are shaping the future of the ICD market.
Impact of COVID-19: The COVID-19 pandemic had a mixed impact, initially disrupting supply chains and elective procedures but later driving demand due to the increased focus on healthcare infrastructure and chronic disease management.
The global key manufacturers of ICD Devices include Boston Scientific Corporation, BIOTRONIK, Medtronic, Abbott, MicroPort Scientific Corporation, Chuangling Cardiac Rhythm Management Medical Devices (Shanghai) Co.,Ltd. and Lepu (Beijing) Medical Devices Co.,Ltd., etc. in 2023, the global top five players have a share approximately % in terms of revenue.
The ICD devices(Implantable Cardioverter-Defibrillator) is a small battery-powered devices implanted in the body that detects and stops irregular heartbeats (arrhythmias). The ICD devices continuously monitors the heartbeat and, if needed, delivers an electric shock to restore a normal heart rhythm.
Traditional ICD(Implantable Cardioverter-Defibrillator) is implanted in the chest with wires that run to the heart. Implantation medical procedures require invasive procedures.S-ICD (Subcutaneous Implantable Cardioverter-Defibrillator) is a less invasive alternative to a traditional ICD. The S-ICD device is implanted under the skin at the side of the chest below the armpit. It connects it to a sensor that runs along the breastbone.The device only needs to be implanted under the skin, and the wires do not need to go into the heart. This eliminates potentially significant short- and long-term risks associated with placing wires within the heart or blood vessels.
This report aims to provide a comprehensive presentation of the global market for ICD Devices, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding ICD Devices. This report contains market size and forecasts of ICD Devices in global, including the following market information:
