Subcutaneous Implantable Defibrillator System Market Trends
Growth Drivers
Increasing Incidence of Cardiovascular Diseases (CVDs) to Propel the Market Growth
According to the WHO, over three quarters of deaths which are caused due to cardiovascular diseases, take place in low and middle-income countries.
CVDs comprise of heart and blood vessels disorders which include coronary heart disease, rheumatic heart disease and others. Heart attacks and strokes contributes about 80% of the CVD deaths, and around one-third of these deaths occur prematurely in people under 70 years of age, according to the WHO. On the back of increasing prevalence of CVDs, there is a significant increase in the demand for subcutaneous implantable defibrillator systems.
Advantages of S-ICD Over Traditional Implantable Cardioverter Defibrillator (ICD) to Drive the Market Growth
The need to minimize the risk caused due to the severe complications associated with transvenous leads, such as infections in the bloodstream, along with the need to remove or replace the leads in the heart, led to the development of the S-ICD systems. S-ICD is somewhat different from a conventional ICD. The wires, also known as leads, which run from the device to the heart, are implanted under the skin in the S-ICD systems, unlike that of the ICD systems, where the leads are implanted in the veins. This procedure allows the leads to be more easily removed and replaced when required. Such advantages associated with S-ICD over conventional ICD is anticipated to create growth opportunities for subcutaneous implantable defibrillator market over the forecast period.
Challenges
High Deployment and Maintenance Cost
Despite the growing market for subcutaneous implantable defibrillator system, the high costs of deploying the device and its maintenance acts as a challenging factor towards the growth of market. Affording such an expensive procedure, especially by the low- and middle-income nations, is anticipated to decrease the demand for subcutaneous implantable defibrillator market over the coming years.
Subcutaneous Implantable Defibrillator Market: Key Insights
Factors leading to the prevalence of cardiovascular diseases such as increasing geriatric population, unhealthy lifestyle of people, alcohol consumption, smoking, and others, are anticipated to create numerous growth opportunities for the global subcutaneous implantable defibrillator system market over the coming years. The S-ICD market is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2028. The S-ICD market is segmented by end user into hospitals, clinics, cardiac catheterization laboratory, ambulatory surgical centers, and others. Among these segments, the hospitals segment is anticipated to hold the largest market share over the forecast period on the back of severe complications, such as increased heartbeat, shortness of breath, heart palpitations, chest pain, and others, are associated with cardiovascular diseases. According to the World Health Organization (WHO), cardiovascular diseases are the primary cause of death globally, taking an estimate of 17.9 million lives each year. Patients suffering from cardiovascular diseases require critical observation and care. Owing to the availability of such critical care at hospitals, and the increasing preference of individuals for critical care in hospitals, the segment is anticipated to mark remarkable growth during the forecast period.
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
|
CAGR |
4.4% |
|
Base Year Market Size (2024) |
USD 9.02 billion |
|
Forecast Year Market Size (2037) |
USD 15.79 billion |
|
Regional Scope |
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