The global implantable cardioverter defibrillator market or ICD market is anticipated to expand at a reasonable growth rate in the coming years. The rising prevalence of cardiovascular disorders is the chief factor responsible for this growth. This information was published in a report, titled “ICD Market: Global Market Analysis, Insights and Forecast, 2018-2026” which offers ins ights into the factors enabling growth in the market. According to the report, the global market was valued at US$ 6684.4 Mn in the year 2017 an is estimated to reach US$ 8343.4 Mn by 2026.
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Hospitals to Witness High Adoption of ICDs in the coming years
The availability of implantable defibrillators is expected to grow in hospitals more than among other end-users. In the coming years, hospitals are likely to be well-equipped with ICD devices and automated ICDs. Furthermore, governments may introduce several policies to support the adoption of ICD devices in hospitals. Different types of ICD products such as subcutaneous ICD and transvenous ICD are introduced in the report. Subcutaneous ICDs are expected to grow at a faster rate than transvenous ICDs. This is primarily on account of their large size and greater battery capacity. Moreover, Boston Scientific Corporation had launched the first subcutaneous ICD in the world in 2012. In 2018, transvenous ICD covered a significant share, but presently subcutaneous leads the ICD market.
Key companies covered in the report:
- Boston Scientific Corporation
- LivaNova Plc
- Other prominent players
Medtronic and Boston Scientific Corporation to Cover Majority of the Share in the Market
The global ICD market covers some of the leading players which include LivaNova PLC, Medtronic, Abbott, BIOTRONIK, Boston Scientific Corporation, and MicroPort. Among these, Medtronic leads the market by covering majority of the share as per revenue. The company over the years has gained customers and built its brand recognition. Medtronic and Boston Scientific Corporation accounts for than more than half of the share in terms of revenue in the global market. Several companies are focusing on product launches to strengthen their global reach. For instance, Biotronik announced the launch of Acticor series in April 2019. These series consist of newly developed implantable defibrillator devices. Also, these devices help to reduce cost, time, and have less number of leads. Another company called Boiotronik launched defibrillators with ulta-high energy in December 2016. This launch was done in the U.S. market for the effective treatment of heart failure.
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Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
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