Implantable Cardioverter Defibrillator Market To Reach $5.86 Billion By 2030

Implantable Cardioverter Defibrillator Market Growth & Trends

The global implantable cardioverter defibrillator market size is projected to reach USD 5.86 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 6.4% from 2024 to 2030. The growth can be attributed to various factors, including advancements in product technology, the increasing prevalence of sudden cardiac arrest, growing public awareness about cardiac health, and supportive policies by governments and healthcare organizations. These factors collectively drive the demand for cardioverter defibrillators and contribute to the overall market expansion.

The global demand for cardiac resynchronization therapy devices (CRT-Ds) and implantable cardioverter defibrillators (ICDs) is fueled by the increasing prevalence of cardiovascular diseases and other heart ailments. Sudden cardiac arrest (SCA) remains a significant cause of mortality, with a rising incidence and associated risk factors. Heart failure contributes significantly to global health challenges and drives the need for CRT-Ds and defibrillators. In addition, the prevalence of abnormal heart rhythms, especially in older adults and individuals with coronary artery disease (CAD), further boosts the demand for ICDs. These factors highlight the growing importance of CRT-Ds and ICDs in addressing cardiovascular conditions and improving patient outcomes.

The ICD market was negatively impacted by the COVID-19 pandemic. The suspension of elective surgeries and the focus on COVID-19 patients affected the market during the first quarter of 2020. However, the pandemic accelerated the adoption of telehealth, including remote monitoring for patients with arrhythmias. Guidelines released by the Heart Rhythm Society emphasized limiting in-person visits and promoting remote care. Biotronik capitalized on this trend by promoting its implantable CRM devices with home monitoring technology. Despite the growth in cardiovascular remote monitoring, limited reimbursement in specific regions including some EU countries hindered the overall market expansion. Approximately 13 surveyed countries still do not provide reimbursement for remote technologies in the context of heart failure management.

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Implantable Cardioverter Defibrillator Market Report Highlights

• Based on product type, the ICD market is classified into transvenous implantable cardioverter-defibrillators (T-ICDs) and subcutaneous implantable cardioverter defibrillator segments (S-ICDs). The T-ICDs segment dominated the market in 2023 with a revenue share of 89.83%.

• Based on type, the ICD market is classified into single-chamber ICDs, dual-chamber ICDs, and biventricular devices segments. The biventricular devices segment dominated the market in 2023 with a revenue share of 44.33%.

• Based on NYHA Class, the market is classified into NYHA Class II and NYHA Class III. The NYHA Class II segment dominated the market with a 67.72% share in 2023 and is estimated to grow at the fastest CAGR of 6.6% during the forecast period.

• Based on end-use, the ICD market is classified into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the market with a share of 86.67% in 2023 and is estimated to grow at the fastest CAGR of 6.5% during the forecast period.

• In terms of region, the North America dominated the global  market and accounted for 41.4% of the total market share in 2023. North America has a well-developed, advanced healthcare infrastructure, including hospitals, clinics, and medical facilities.

Implantable Cardioverter Defibrillator Market Segmentation

Grand View Research has segmented the global implantable cardioverter defibrillator market based on product type, type, NYHA class, end-use, and region:

Implantable Cardioverter Defibrillator Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Transvenous Implantable Cardioverter-Defibrillators

• Subcutaneous Implantable Cardioverter Defibrillators

Implantable Cardioverter Defibrillator Type Outlook (Revenue, USD Million, 2018 - 2030)

• Single Chamber ICDs

• Dual Chamber ICDs

• Biventricular Devices

Implantable Cardioverter Defibrillator NYHA Class Outlook (Revenue, USD Million, 2018 - 2030)

• NYHA Class II

• NYHA Class III

Implantable Cardioverter Defibrillator End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Ambulatory Surgical Centers

• Others

Implantable Cardioverter Defibrillator Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players of Implantable Cardioverter Defibrillator Market

• Abbott

• Medtronic

• BIOTRONIK SE & Co. KG

• Boston Scientific Corporation

• MicroPort Scientific Corporation.

• LivaNova PLC.