Implantable Defibrillators Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Implantable Defibrillators Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : December, 2022 | Medical Devices

Report Digest

Implantable Defibrillators Market – Overview

The implantable defibrillators market has been anticipated to grow at a noticeable speed in the coming years. The growth avenues in the global market are attributed to the increasing prevalence of target diseases. In addition to this, increasing concentration to provide public-access defibrillators and awareness and training programs related to defibrillators are also estimated to boost the growth opportunities in the global market throughout the forecast period.

On the flip side, various issues related to the use of automated and implantable external defibrillators, lack of awareness regarding sudden cardiac arrest among developing countries, and frequent product recalls are some of the pivotal factors that are curtailing the growth avenues in the implantable defibrillators market in the near future. Along with these factors, the lack of infrastructure in underdeveloped and developing countries and limited reimbursement in the developed nations are also restricting the market growth.

Implantable Defibrillators Market – Key Drivers

In recent years, there has been a noteworthy development of MRI-compatible CRT-Ds & ICDs and S-ICDs along with emerging markets that have been predicted to provide numerous growth avenues in the global market.

Cardiovascular disease has been a leading cause of disability and death around the world. This factor is further estimated to increase the demand for defibrillators across the world as these devices are helpful to save the patients' lives who are at higher risk of cardiac arrest.

There has been a significant increase in lifestyle relates diseases, for example, diabetes, dyslipidemia, obesity, and hypertension. Further, there has been a strong linear relationship between the risk of CVDs development and high blood pressure levels. So, based on these factors, implantable defibrillators are projected to grow rapidly.

Implantable Defibrillators Market – Recent Developments and Key Players

The implantable defibrillators market is moderately fragmented. The market is characterized by the presence of local and international players. These market players are predicted to concentrate on various expansion strategies in order to gain global share, penetrate developing markets, and create brand awareness. Further, the focus of these players is to enhance their services in order to enhance their services for a noteworthy increase in profit and to gain a larger consumer base. Along with this, novel products launch, mergers and acquisitions, agreements or partnerships, and expansion of company networks are some of the other growth driving factors in the global market in the near future.  

For instance, Abbot has received the FDA approval in July 2020. It is related to its next generation CRT-Ds and ICDs under Gallant brand name.

Some of the key players in the implantable defibrillators market are:

  • Medtronic
  • Mediana Co. Ltd.
  • Stryker Corporation
  • Koninklijke Philips N.V.
  • CU Medical Systems
  • Asahi Kasei Corporation
  • Boston Scientific Corporation
  • MicroPort
  • Abbott
  • Nihon Kohden
  • METsis Medikal
  • Schiller AG

Implantable Defibrillators Market – Regional Assessment

The implantable defibrillators market has been divided into North America, Europe, Latin America, the Middle East & Africa, and Asia Pacific on the basis of geographical locations. The Asia Pacific has been estimated to grow at the fastest pace throughout the forecast period across the world. The growth avenues in the regional market are attributed to the rapid growth in the geriatric population across the region. In addition to this, a rapid increase in the cases of CVDs is also driving the growth avenues in the regional market. Further, the increasing concentration of the key players in the emerging economies and novel product launches are also working as pivotal factors to boost the growth avenues in the Asia Pacific region.

On the flip side, a dearth of skilled and trained technicians and limited accessibility of defibrillators at the time of emergencies are predicted to restrict the demand opportunities in the implantable defibrillators market in the coming years.

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