Implantable Defibrillators Market Size (2024 - 2029)

Implantable Defibrillators Market Analysis

The Implantable Defibrillators Market size is estimated at USD 4.05 billion in 2024, and is expected to reach USD 5.52 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).

COVID-19 significantly impacted the implantable defibrillator market during the pandemic due to the rise in cardiac arrest among COVID-19 patients. The market declined during the initial pandemic but increased due to the demand for implantable defibrillators in COVID-19 patients. For instance, according to the study published in the Journal of Cardiac Failure in June 2022, implantable cardioverter defibrillators (ICDs) implanted in patients with heart failure provided helpful information on markers of cardiac status such as atrial fibrillation (AF). Thus, it was expected to increase adoption of implantable defibrillators during the COVID-19 pandemic, thereby driving market growth during the late pandemic.

The factors driving the growth of the implantable defibrillators market include the increasing prevalence of cardiac arrhythmias such as ventricular fibrillation, ventricular tachycardia, and other heart diseases such as myocardial infarction or congenital heart diseases.

The rising prevalence of heart diseases such as heart failure is anticipated to drive market growth. For instance, according to the American Heart Association's annual report in 2022, the prevalence rate of heart failure in the United States was around 6 million in 2021, accounting for 1.8% of the total population. Furthermore, according to the Centers for Disease Control and Prevention, in July 2023, the percentage of adults aged 18 and over living with myocardial infarction in the United States in 2022 was 3% of the total population. Such a massive prevalence of myocardial infarction is anticipated to increase the adoption of implantable defibrillators, driving market growth.

In addition, according to the British Heart Foundation, in August 2022, around 7.6 million people in the United Kindom suffered from heart and circulatory diseases 2022. The massive prevalence of cardiovascular disease in developed countries such as the United Kingdom escalates the demand for implantable defibrillators, fueling the target market growth in the studied period.

The rising technological advancements and improved success rates of implantable defibrillators in recent years are anticipated to boost market growth further. For instance, in August 2022, clinical research presented by Medtronic PLC demonstrated the effectiveness of a novel minimally invasive defibrillator implant (Medtronic EV ICD system) intended to stop a sudden cardiac arrest. The extravascular implantable defibrillator system, which includes its primary component under the left armpit, offers backup pacing therapy to reduce vibrations, prevent tachycardia, and help patients avoid defibrillation shock.

Therefore, the increasing prevalence of cardiac arrhythmia and other heart diseases is expected to increase the demand for implantable defibrillators for early access to cardiac arrest. It is further expected to boost the growth of the studied market over the forecast period. However, the stringent regulatory framework for implantable defibrillators is anticipated to impede market growth.

Implantable Defibrillators Industry Segmentation

Implantable Defibrillator/Implantable Cardioverter Defibrillator (ICD) is a battery-powered device placed under the skin that connects the ICD to the patient's heart using thin wires. The ICD keeps track of the heart rate, and if an abnormal heart rhythm is detected, the device will deliver an electric shock to restore a normal heartbeat. The Implantable Defibrillators Market is segmented by type (single chambered, dual chambered, and biventricular), route (transvenous/traditional ICD and Subcutaneous (S-ICD)), end user (hospitals, specialty clinics, and ambulatory surgical centers) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.