Implantable Cardioverter Defibrillator (ICD) Market Highlights, Development Strategies, Innovative Trends, Business Overview and Global Forecast to 2025
Market
Highlights:
The
global implantable cardioverter defibrillator (ICD) market is currently
dominated by numerous market players. The key players are involved in new
product launches and strategic collaborations to strengthen their market
positions.
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Key
Players:
·
Abbott Laboratories
·
BIOTRONIK
·
Boston Scientific Corporation
·
Medtronic
·
MicroPort Scientific Corporation
·
Koninklijke Philips N.V.
·
Nihon Kohden Corporation
·
Progetti Srl
Segmentation:
By
Type
·
Regular ICD: Holds
the highest share in the market due to the increasing occurrences and
growing incidence rates of autoimmune diseases.
·
Cardiac Resynchronization Therapy
Defibrillators (CRT-D): Holds the second-largest share in the
market and is expected to grow at a moderate rate during the forecast period.
The growth is mainly due to increasing cardiac arrests among patients, R&D
by major players, and strategic partnerships.
·
Subcutaneous-ICD (S-ICD): Holds
the third-largest share in the market and is expected to grow at a steady rate
in the market during the forecast period. New product launches, manufacturing
facility expansion in emerging countries such as India, China, Brazil, and
other emerging countries could drive the market.
By
Indication
·
Myocardial
Ischemia: Myocardial Ischemia is the largest as well
as the fastest-growing segment by indication as ICDs are majorly used in the
treatment of myocardial ischemia. Moreover, the prevalence rate of sudden
cardiac arrests is rising. Myocardial ischemia is further segmented into
symptomatic and asymptomatic.
·
Acute Myocardial Infarction: It
is the second-largest segment in the market, and this condition is also
commonly called a heart attack. Acute myocardial infarction is a life-threatening
condition that occurs when blood flow to the heart muscle is abruptly cut off,
causing tissue damage. It is the second-largest segment in the market by
indication.
·
Electrolyte Imbalance and Drug Toxicity: It
is the third-largest and fastest-growing segment in the market.
By
End User
·
Hospitals & Clinics:
This is the largest and fastest-growing market segment and is projected to grow
well beyond the forecast period. Hospitals and clinics are primary care centers
for individuals afflicted with type-1 diabetes and are also cost-effective.
Moreover, in countries with government-funded healthcare and a high prevalence
of type-1 diabetes, hospitals and clinics are the main treatment centers, which
drives the growth of the segment.
·
Ambulatory Surgical Centers: A
more specialized treatment option, a large number of specialty centers have established
across the US and are being opened in developing nations such as India and
China. This segment is growing due to the increased number of individuals
afflicted with the condition and the higher returns on investment from
specialty centers as compared to hospitals and clinics.
Regional
Analysis:
The
market has been divided, by region, into the Americas, Europe, Asia-Pacific,
and the Middle East & Africa. The ICD market in the Americas has further
been branched into North America and Latin America, with the North American
market divided into the US and Canada. The ICDs market in the Americas is
likely to hold a major share owing to the increased patient pool. The European ICD
market has been sub-divided classified as Western Europe and Eastern Europe.
The Western European market has further been classified categorized as Germany,
France, the UK, Italy, Spain, and the rest of Western Europe. The ICD market in
Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. The Asia-Pacific ICD market is
projected to be the fastest-growing due to the increasing incidences of acute
myocardial infarction and myocardial infraction, growing aging population, and changing
lifestyle (smoking and alcohol consumption) in the region. The ICD market in
the Middle East & Africa has been divided into the Middle East and Africa.
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