Cardioverter Defibrillator Devices Market
The Global Cardioverter Defibrillator Devices Market will grow at a
CAGR of 4.6% from 2017 to 2022 to reach USD 12,520 million
by 2022, according to the latest publication by Meticulous Research. The global
cardioverter defibrillator devices market is driven by increasing incidence
& prevalence of cardiovascular diseases in older as well as younger
population; increasing sedentary lifestyle and obesity rate along with excessive
consumption of tobacco, alcohol, and caffeinated products; rising aging
population; and various technological advancements. However, lack of skilled
professionals; and increasing incidence of defibrillator malfunction and
product recalls offer a great challenge for the growth of cardioverter
defibrillator devices market.
Different Cardioverter
Defibrillator Market Segments to Watch
The global cardioverter
defibrillator devices market is mainly segmented by product, end-user, and
geography. On the basis of product, this market is segmented into implantable
cardioverter defibrillator and external cardioverter defibrillator. Implantable
cardioverter defibrillator product segment is expected to hold the largest
share in this market in 2018. It is also projected to continue its dominance
during the forecast period due to rising adoption of permanent implantable
cardioverter defibrillator for the prevention of sudden cardiac arrest and
related deaths.
Implantable cardioverter
defibrillators market is further sub-segmented into transvenous implantable
cardioverter defibrillator and subcutaneous implantable cardioverter
defibrillator. Transvenous implantable cardioverter defibrillators commanded
the largest share in 2017, owing to their wide adoption worldwide due to their
long presence in the market, antitachycardia pacing feature, and advancement in
ventricular arrhythmias therapy. Transvenous implantable cardioverter
defibrillators market is further segmented into single chamber cardioverter
defibrillator, dual-chamber cardioverter defibrillator, and biventricular
cardioverter defibrillators/ CRT-Ds. Biventricular cardioverter defibrillators
segment is projected to dominate the transvenous implantable cardioverter
defibrillators market during the forecast period because of increasing adoption
of biventricular CRT-Ds over other ICDs due to a lowered side effect of
ejection fraction, improved efficacy, and better outcomes. The segment also
shows the fastest growth, as it has both the features of right ventricular
defibrillator lead and a left ventricular pacing lead placed via the coronary
sinus i.e. single and dual ICDs.
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Automated external
cardioverter defibrillators segment to witness rapid growth
External cardioverter
defibrillators market is further sub-segmented into the manual external
defibrillator, automated external defibrillator, and wearable external
cardioverter defibrillator. Automated external cardioverter defibrillators
segment held the largest share in 2017 and will also continue its dominance
during the analysis period, owing to rising preference for these devices among
pre-hospital settings, military, and small nursing care centers due to ease in
operation and portability to offer the first line treatment within minutes of a
critical cardiac emergency.
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Hospitals to dominate the
global cardioverter defibrillator devices market
On the basis of end-user,
cardioverter defibrillator devices market is segmented into hospitals,
ambulatory surgery centers, and others. Hospitals accounted for the largest
share in the global cardioverter defibrillator devices market in 2016;
primarily due to a large pool of patients including the population with
cardiovascular diseases visiting the hospitals for diagnosis & treatment,
owing to the wide presence, easy accessibility, and better healthcare
facilities in hospitals.
Regional Market Growth
Trends
By geography, the market
is segmented into five major geographies namely: North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa. North America
accounted for largest share of global cardioverter defibrillator devices
market, followed by Europe, Asia-Pacific, Latin America, and Middle East &
Africa. However, Asia-Pacific region is slated to register the fastest growth
during the forecast period, primarily due to the increasing population living
with various chronic diseases due to rising urbanization, increasing the burden
of patients with hypertension, rising inclination towards fast food, and
changing lifestyle. In addition, rising public & private spending for the
development of proper healthcare infrastructure, increasing aging population,
rising focus of the key players to expand in emerging countries like China
& India, and increasing affordability of the middle-class population in the
region are further expected to indirectly support the growth of cardioverter
defibrillator devices market in Asia-Pacific.
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About Meticulous Research®
Meticulous Research® is
founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in
2013 as a private limited company under the Companies Act, 1956. Since its
incorporation, the company has become the leading provider of premium market
intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa.
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Research®
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