Implantable Cardioverter Defibrillators Market - By Product (Transvenous ICDs, Subcutaneous ICDs), By Type (Single-Chamber, Dual-Chamber, Biventricular Devices), End-use (Hospitals, Ambulatory Surgical Centers) & Forecast, 2024-2032

Implantable Cardioverter Defibrillators Market Size

Implantable Cardioverter Defibrillators Market was valued at over USD 8.8 billion in 2023 and is anticipated to grow at a CAGR of over 6.4% between 2024 & 2032. This robust market growth can be attributed to various factors, including the rising incidences of cardiovascular diseases, growing geriatric population, continual technological advancements in ICDs, and increasing worldwide healthcare spending among others are supporting the market growth.
 

Moreover, the rise in the prevalence of cardiovascular disorders, such as ventricular arrhythmias and heart failure, is among a major driving factor for the ICD industry. As these conditions are substantial risk factors for sudden cardiac death, there is a growing demand for ICDs as a preventative and therapeutic treatment. For instance, according to American Heart Association, ischemic heart disease (IHD) affected around 244 million individuals globally in 2020, with men suffering more than females (141 and 103 million individuals), respectively. Additionally, the growing focus on preventive cardiology and the management of individuals at risk of sudden cardiac death promotes the use of ICDs as a preventive measure. Early intervention with ICDs can significantly improve patient outcomes.
 

An implantable cardioverter defibrillators is a specialized, implantable medical device designed to monitor and regulate the heart's rhythm. It is primarily used to treat life-threatening ventricular arrhythmias, such as ventricular fibrillation (VF) and ventricular tachycardia (VT), that can lead to sudden cardiac arrest. The ICD continuously monitors the heart's electrical activity, and when it detects an abnormal rhythm, it can deliver therapeutic interventions, such as electrical shocks (defibrillation) or pacing, to restore a normal and coordinated heartbeat.
 

COVID-19 Impact

The COVID-19 pandemic had a notable impact on the implantable cardioverter defibrillators market. While lockdowns and resource reallocation caused immediate disruptions in elective surgeries and medical device manufacturing, the long-term impacts showed an increased understanding of the value of remote monitoring technology. During the pandemic, with an upsurge towards telehealth and remote patient care, the integration of remote monitoring capabilities in ICDs gained importance, providing a solution for remotely monitoring patients and reducing the need for in-person follow-ups. In addition, the focus on meeting the healthcare requirements of COVID-19 patients resulted in a temporary decrease in non-COVID-related elective treatments. However, the industry witnessed surged up product demand post the initial decline, thus, supporting the market growth.
 

Implantable Cardioverter Defibrillators Market Trends

Growing demand for combination ICD devices with pacemaker functionality, increased focus on patient-centric care, continuous advancements in wireless charging and battery technology are among the key variables propelling the product demand. Additionally, surging need for integration of artificial intelligence (AI) in healthcare and data analytics into ICD systems are other factors that are contributing  to the evolving landscape of the implantable cardioverter defibrillators industry.
 

• Miniaturization, longer battery life, leadless devices, and enhanced programming capabilities are all ongoing advances in ICD technology. These advancements endeavor to render ICDs more efficient, long-lasting, and patient-friendly.
   
• Moreover, combination devices that integrate both ICD and pacemakers’ functions are becoming more prevalent. These devices offer comprehensive cardiac care for patients who require both defibrillation and pacing capabilities.
   

Implantable Cardioverter Defibrillators Market Analysis

The market by product is segmented into transvenous implantable cardioverter-defibrillators and subcutaneous implantable cardioverter defibrillators. The transvenous ICD segment accounted for majority revenue share and was valued at around USD 6.8 billion revenue in 2023.
 

• Transvenous ICDs have a well-established track record of clinical efficacy in treating life-threatening ventricular arrhythmias. Their effectiveness in quickly and accurately detecting abnormal heart rhythms and delivering timely defibrillation shocks has contributed to their widespread adoption.
   
• Moreover, it has broad arrhythmia detection capabilities, enabling for the identification and treatment of various ventricular arrhythmias. This feature is essential in the management of individuals who are at risk of sudden cardiac death owing to a variety of cardiac diseases, thereby improving overall efficiency.
   

Based on type, the market is categorized into single-chamber ICDs, dual-chamber ICDs, and biventricular devices. The biventricular devices segment dominated the implantable cardioverter defibrillators market and accounted for over 42% market share in 2023 and is anticipated to witness significant growth during the forecast period.
 

• Biventricular devices are primarily indicated for patients with heart failure and conduction abnormalities. The devices improve the coordination of the heart's contractions, enhancing overall cardiac function and reducing symptoms associated with heart failure.
   
• Additionally, it integrate cardiac resynchronization therapy with defibrillation capabilities. This combination addresses both the synchronization issues in heart failure patients and provides protection against life-threatening ventricular arrhythmias, offering comprehensive treatment in a single device, leading to the segmental growth.
   

The implantable cardioverter defibrillators industry by end-use is categorized into hospitals, ambulatory surgical centers, and other end-users. The hospitals segment accounted for over USD 4.5 billion revenue in 2023.
 

• Hospitals are witnessing a demand for ICDs due to several factors, reflecting both clinical needs and technological advancements. Favorable reimbursement policies for ICD implantation and related procedures encourage healthcare providers to offer these devices to eligible patients.
   
• Furthermore, hospitals strive to offer comprehensive cardiac care services to meet the diverse needs of their patient populations. Incorporating ICDs into their service offerings allows hospitals to provide a full spectrum of advanced cardiac therapies, enhancing their reputation as leading healthcare institutions.
   

North America implantable cardioverter defibrillators market accounted for USD 4.7 billion revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• The region is at the forefront of technological innovation in healthcare sector. Ongoing advancements in ICDs, such as miniaturization, longer battery life, and improved lead designs, contribute to the adoption of state-of-the-art devices in the region.
   
• Furthermore, North America boasts a robust healthcare infrastructure with advanced medical facilities and a high level of accessibility to healthcare services. This infrastructure supports the widespread adoption of ICDs across various healthcare settings, including hospitals and specialized cardiac care centers.
   

Implantable Cardioverter Defibrillators Market Share

The implantable cardioverter defibrillators industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products is among a key market strategy. Some of the leading industry players including Abbott Laboratories, Medtronic plc, BIOTRONIK SE & Co. KG, and Boston Scientific Corporation, among others have a notable presence in the market.
 

Implantable Cardioverter Defibrillators Market Companies

Some of the eminent market participants operating in the implantable cardioverter defibrillators industry include:

• Abbott Laboratories
• Medtronic plc
• BIOTRONIK SE & Co. KG
• Boston Scientific Corporation
• MicroPort Scientific Corporation
• LivaNova plc
• FUKUDA DENSHI CO. Ltd
• IMRICOR MEDICAL SYSTEMS
• Koninklijke Philips N.V
• Nohen Kohden Corporation
• CU Medical Germany GmbH
• MEDIANA Co., Ltd.
   

Implantable Cardioverter Defibrillators Industry News:

• In October 2023, MicroPort CRM, based in France and a leading company operating in the field of Cardiac Rhythm Management, announced the launch of its ULYS Implantable Cardioverter Defibrillator and INVICTA defibrillation lead in Japan. These products are MRI compatible at 1.5T and 3T when implanted as a system. This launch will assist to expand its offerings and improve its revenue generating prospects in Japan.
   
• In October 2023, Medtronic plc received FDA clearance for the Aurora EV-ICD MRI SureScan and Epsila EV MRI SureScan defibrillation leads to treat extremely rapid heart rhythms that can result in SCA. This development will improve companies portfolio, thereby, enhancing its serviceability.
   

Implantable cardioverter defibrillators market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Product

• Transvenous implantable cardioverter-defibrillators
• Subcutaneous implantable cardioverter defibrillators

Market, By Type

• Single-chamber ICDs
• Dual-chamber ICDs
• Biventricular devices

Market, By End-use

• Hospitals
• Ambulatory surgical centers
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa