Implantable Defibrillators Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030, registering a CAGR of 4.1% during the forecast period 2020 - 2030. Rise in cardio vascular diseases and favorable reimbursement scenarios have been propelling the growth of Implantable Defibrillators Market globally.
The Global Implantable Defibrillators Market was valued at USD 7.35 billion in 2019 and is expected to garner USD 11.44 billion by 2030, registering a CAGR of 4.1% during the forecast period 2020 – 2030
Implantable Defibrillators are compact electronic devices placed inside the chest of a person who has survived one or more cardiac arrest and with persisting problem of irregular heartbeats even after proper medications. These devices deliver adequate shocks to the heart to normalize the heartbeat of the patient. The increase in the geriatric population along with the unhealthy life style habits, have elevated the mortality rates especially due to sudden cardiac arrests. Also, the self-awareness among individuals having heart issues has encouraged them to use implantable defibrillators, which in turn has resulted in lucrative growth opportunities in the market.
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Top Companies: Boston Scientific Corporation, LivaNova PLC Company, Imricor Medical Systems, MicroPort Scientific Corporation, Mayo Clinic US, Medtronic plc, MRI Interventions Inc., St. Jude Medical Inc., Biotronik Se & Co.KG, Sorin Group and others. The strategies like development of health care centers in untapped geographies, new and enhanced product launches, mergers and acquisition along with partnerships will lead to a drastic increase in the demand for implantable defibrillators in the coming years.
On the contrary, high cost of devices and risk factors associated with it like infection in the chest area along with bleeding around the heart can hamper the market growth. However, the increasing population along with the rising mortality due to cardiac arrests and other heart disease will provide ample opportunities for the implantable heart defibrillator manufacturers to grow and flourish globally. The implantable defibrillators market is segmented on the basis of product type and geography. On the basis of product type, market is divided into Tran’s venous implantable cardioverter-defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillators (S-ICDS), and cardiac resynchronization therapy defibrillator (CRT-D). Geographically, the market is spread across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and rest of the world (Row).
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North America dominates the Implantable Defibrillators market as a result of better and advanced medical facilities as well as healthcare centres, compared to other regions. Also, the rising mortality rate due to heart diseases in this region is another underlying factor contributing to the adoption of implantable defibrillators. The Asia Pacific region is predicted to show consistent growth in terms of market share within the forecast period as the manufacturers of this region are focusing on introducing advanced but cost-effective defibrillator devices to meet the needs of the dense and rapid growing population of this region.
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