The global Cardiac Implantable Electronic Device Market Growth Accelerated by Strong Demand for Advanced Cardiac Implants

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Cardiac implantable electronic devices help regulate the abnormal heart rhythm and prevent sudden cardiac arrest in patients by continuously monitoring the function of the heart and provide electrical pulses when required. Advancements in technology have enabled the development of new generation implantable devices with improved features such as enhanced battery life, wireless connectivity, and compact size. Additionally, rising prevalence of cardiovascular diseases and surge in demand for effective treatment therapies have propelled the adoption of cardiac implants globally.

The global Cardiac Implantable Electronic Device Market is estimated to be valued at US$ 28.1 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The strong demand for advanced cardiac implants has been a key growth trend in the cardiac implantable electronic device market size. Factors such as increasing technological innovations leading to development of miniaturized devices with longer battery life and improved therapeutic efficacy have boosted popularity of next-generation cardiac implants. Additionally, growing focus of leading manufacturers on unveiling novel product offerings such as implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds) with wireless communication capabilities are helping expand the market reach. Such state-of-the-art implants with remote monitoring features allow timely intervention and enhanced management of cardiac conditions, thereby augmenting the market growth.

Segment Analysis:

Cardiac Implantable Electronic Device (CIED) Market is segmented by product type into implantable pacemakers, implantable cardiac resynchronization therapy devices (CRT-D), and implantable cardioverter defibrillators (ICDs). Among these, the implantable cardioverter defibrillators segment dominated the market in 2023 and is projected to continue its dominance during the forecast period. ICDs are highly recommended for patients with an abnormal heartbeat, as they can deliver electrical pulses or shocks to regulate life-threatening heart rhythms. The rising prevalence of cardiovascular diseases is driving the adoption of ICDs.

Key Takeaways:

The global Cardiac Implantable Electronic Device market is expected to witness high growth. The global Cardiac Implantable Electronic Device Market is estimated to be valued at US$ 28.1 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030.

Europe currently holds the largest share of the CIED market and is projected to continue its dominance during the forecast period. The major factors driving the market in Europe include the rising elderly population, growing prevalence of cardiovascular diseases, developed healthcare infrastructure, and growing awareness regarding treatment options. North America is projected to be the fastest growing regional market during the forecast period due to rapidly increasing healthcare expenditures and rising adoption of advanced treatment devices in the region.

Key players related content comprises Key players operating in the Cardiac Implantable Electronic Device market are Medtronic, Biotronik, Boston Scientific Corporation, Pacetronix. Medtronic is currently the global leader in the CIED market with over 30% market share. It offers a wide range of implantable pacemakers, ICDs, and CRT devices. Biotronik also has a significant presence globally and offers a complete portfolio of implants, leads, and devices delivering cardiac rhythm management.

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