PUBLISHER: Grand View Research | PRODUCT CODE: 1404810
PUBLISHER: Grand View Research | PRODUCT CODE: 1404810
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.