Implantable Cardiac Devices Market Report 2024 - Implantable Cardiac Devices Market Trends And Growth

Global Implantable Cardiac Devices market size is expected to reach $17.31 billion by 2028 at a rate of 8.8%, segmented as by type, pacemaker, implantable cardioverter defibrillator (icd), biventricular implantable cardioverter defibrillator

Nov 8, 2024 - 14:50

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Implantable Cardiac Devices market

The implantable cardiac devices market size is expected to see strong growth in the next few years. It will grow to $17.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to technological advancements in device functionality, increasing demand for minimally invasive procedures, growing geriatric population, rising healthcare expenditures, and expansion of healthcare infrastructure in emerging markets. Major trends in the forecast period include integration of digital health and remote monitoring, development of next-generation devices with enhanced features, growth in personalized and patient-specific cardiac solutions, emphasis on cost-effectiveness and value-based healthcare, increasing focus on preventive cardiology, and early intervention.

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Scope Of Implantable Cardiac Devices Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Implantable Cardiac Devices Market Overview

Market Drivers -
The rising incidence of heart diseases is expected to propel the growth of the implantable cardiac devices market. The rise in heart diseases can be attributed to the increasing prevalence of risk factors such as poor diet, sedentary lifestyle, obesity, and chronic conditions like diabetes and hypertension. Additionally, aging populations and rising stress levels further contribute to the higher incidence of cardiovascular conditions. Implantable cardiac devices are used to manage and treat conditions such as heart failure, arrhythmias, and coronary artery disease. This increased need accelerates innovation and investment in developing new and improved cardiac devices to address the growing patient population and enhance treatment outcomes. For instance, in May 2024, according to the Singapore Heart Foundation (SHF), a Singapore-based non-profit organization, ischemic heart disease resulted in 5,302 deaths, showing a slight increase from 5,290 deaths in 2022. Therefore, the rising incidence of heart disease drives the growth of the implantable cardiac devices market.

Market Trends -
Major companies operating in the implantable cardiac devices market focus on enhancing compatibility with diagnostic tools such as AutoMRI to extend device lifespan and improve patient safety. The AutoMRI function in implantable cardiac defibrillators automatically adjusts the device settings to ensure safe operation during MRI scans, enhancing patient care while allowing access to advanced imaging technology. For instance, in October 2023, MicroPort CRM, a France-based medical device company, launched the ULYS implantable cardioverter defibrillator (ICD) and INVICTA defibrillation leads in Japan, featuring advanced technology with low current consumption for extended device lifespan and MRI compatibility. The ULYS ICD incorporates the PARAD+ arrhythmia discrimination algorithm and AutoMRI functionality, while the INVICTA lead delivers precise pacing and defibrillation therapy, demonstrating a 100% implantation success rate and 97.4% complication-free rate in clinical trials.

The implantable cardiac devices market covered in this report is segmented –
1) By Type: Pacemaker, Implantable Cardioverter Defibrillator (ICD), Biventricular Implantable Cardioverter Defibrillator (BI-V ICD)
2) By Application: Bradycardia, Tachycardia, Heart Failure, Other Applications
3) By End User: Hospitals, Specialty Clinics, Other End Users

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Regional Insights -
North America was the largest region in the implantable cardiac devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the implantable cardiac devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Major companies operating in the implantable cardiac devices market are Johnson & Johnson, Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Edwards Lifesciences Corporation, Biotronik SE & Co. KG, Zoll Medical Corporation, Nihon Kohden Corporation, LivaNova plc, Lepu Medical Technology, MicroPort Scientific Corporation, AtriCure Inc., LifeTech Scientific Corporation, Berlin Heart GmbH, EBR Systems Inc., Defibtech LLC, CVRx Inc., Progetti Srl, Endotronix Inc., Jarvik Heart Inc., Xeltis AG, Carmat SA, Windmill Cardiovascular Systems Inc

Table of Contents
1. Executive Summary
2. Implantable Cardiac Devices Market Report Structure
3. Implantable Cardiac Devices Market Trends And Strategies
4. Implantable Cardiac Devices Market – Macro Economic Scenario
5. Implantable Cardiac Devices Market Size And Growth
…..
27. Implantable Cardiac Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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