Implantable Cardioverter-defibrillators Market by Product Type, Patient Type, End Users, and Region - Global Forecast to 2026

The global Implantable Cardioverter-defibrillators Market is expected to grow at a 9.7% CAGR from USD 11.4 billion in 2021 to USD 18.2 billion in 2026. The increased prevalence of target diseases, the expanding focus on providing public-access defibrillators, and defibrillator training and awareness campaigns are all driving market expansion. Emerging markets, as well as the development of S-ICDs and MRI-compatible ICDs and CRT-Ds, are likely to provide growth possibilities for defibrillator manufacturers. During the projection period, however, challenges associated to the usage of implantable and automated external defibrillators, frequent product recalls, and a lack of awareness regarding sudden cardiac arrest in emerging countries are projected to stymie the market's expansion.Other obstacles, such as limited reimbursements in wealthy countries and a lack of infrastructure, especially in developing and undeveloped countries, are projected to stymie the market's expansion.

The impact of COVID-19 on the global Implantable Cardioverter-defibrillators Market

In 2020, the COVID-19 pandemic had a negative impact on the economy and posed numerous obstacles to clinical healthcare practitioners and patients all across the world. Logistical concerns, illness management, prioritising patients with comorbidities and pre-existing disorders, and further protecting the public and hospital frontline staff from COVID-19 are all key challenges that healthcare systems around the world are dealing with.

The pandemic has also harmed hospitals' purchasing power, particularly small-scale institutions, leading in supply transactions being cancelled or postponed, reducing total revenue for all major competitors in the defibrillator industry. Furthermore, many people lost their employment and livelihoods as a result of the lockdowns, which had a significant impact on patient purchasing patterns.

Many COVID patients had arrhythmias, but in-hospital defibrillator facilities saved their lives. Many surgical procedures were cancelled or postponed as a result of the viral outbreak, depending on the patient's criticality. Companies suffered losses as a result of this.