Global Implantable Defibrillators Market Size 2024, Forecast To 2033
6 Mar, 2024
The implantable defibrillators market size has experienced steady growth, rising from $5.46 billion in 2023 to $5.69 billion in 2024, with a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to the increased prevalence of cardiac disorders, backed by clinical evidence and research, the rise in the aging population, heightened awareness and education, as well as collaborations and partnerships within the industry. Forecasts suggest continued steady growth in the upcoming years, reaching $6.82 billion in 2028, with a CAGR of 4.6%. This growth is anticipated due to the integration of remote monitoring and telemedicine, expansion of indications, emphasis on heart failure management, personalized medicine approaches, and the global expansion of healthcare infrastructure. Major trends in the forecast period include miniaturization and design innovations, remote monitoring and connectivity, personalized therapy approaches, leadless implantable defibrillators, and advancements in battery technology.
Global Implantable Defibrillators Market Key Driver
The increase in the prevalence of sudden cardiac arrest is expected to boost the growth of the implantable defibrillators market. Sudden cardiac arrest (SCA) refers to a condition where the heart stops beating unexpectedly. Implantable defibrillators can provide lifesaving therapy by detecting and correcting abnormal heart rhythms that can lead to SCA. For instance, according to a report published by the Journal of the American College of Cardiology, a US-based medical journal, SCD causes 185,000 to 450,000 deaths annually in the US population or 7% to 18% of all fatalities. Therefore, the increase in the prevalence of sudden cardiac arrest is driving the growth of the implantable defibrillators market. The market size in 2023 was significant, and it is expected to expand further by 2024 and 2028.
Get A Free Sample Of The Global Implantable Defibrillators Market ReportGlobal Implantable Defibrillators Market Segments
The implantable defibrillators market covered in this report is segmented –
1) By Product Type: Single Chambered Implantable Defibrillators, Dual Chambered Implantable Defibrillators, Biventricular Implantable Defibrillators
2) By Procedure Type: Trans-Venous Implantable Defibrillators, Subcutaneous Implantable Defibrillators
3) By End User: Hospitals And Clinics, Ambulatory Surgery Centers, Other End Users
By Geography:The regions covered in the implantable defibrillators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the implantable defibrillators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global implanted defibrillator market forecast period. The regions covered in the implantable defibrillators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Implantable Defibrillators Industry Players
Boston Scientific Corporation, LivaNova PLC, Biotronik SE & Co KG, MicroPort Scientific Corporation, Mayo Clinic, Medtronic plc, St. Jude Medical Inc., Abbott Laboratories, Sorin Group Italia S.r.l., Nihon Kohden Corporation, Koninklijke Philips N.V., Fukuda Denshi Co Ltd., Stryker Corporation, Progetti S.r.l., Imricor Medical Systems Inc., MRI Interventions Inc., ZOLL Medical Corporation, Physio-Control International Inc., Cardiac Science Corporation, Defibtech LLC, HeartSine Technologies LLC, Welch Allyn Inc., Schiller AG, CU Medical Systems Inc., Mindray Medical International Limited, Shenzhen Mindray Bio-Medical Electronics Co Ltd., Beijing M&B Electronic Instruments Co Ltd., Bexen Cardio SL, Pacemaker Technologies, Reva Medical Inc., Cardiac Insight Technologies, EBR Systems Inc., BioSensis Pty Ltd
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Implantable Defibrillators Market Overview
An implantable defibrillator refers to a small, battery-operated device inserted into the chest to help regulate abnormal heart rhythms. It continuously monitors the heart's rhythm, and if it detects a dangerous or irregular rhythm, it delivers an electrical shock to the heart to restore a normal rhythm.
Implantable Defibrillators Global Market Report 2023 provides data on the global implantable defibrillators market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The implantable defibrillators market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.