Implantable cardioverter defibrillators market in India to witness 11% growth through 2030, forecasts GlobalData

The implantable cardioverter defibrillators (ICD) market in India is expected to grow at a compound annual growth rate of 11% between 2021 and 2030, driven by the growing prevalence of sudden cardiac arrest, ventricular tachycardia and ventricular arrhythmia, improved diagnosis and increased availability of treatment, forecasts GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Implantable Cardioverter Defibrillators (Cardiovascular) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Medtronic Plc and Abbott Laboratories were the major players in the Indian implantable cardioverter defibrillators market, together accounting for more than 60% of the market in 2021.

Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “The market in India is mainly driven by an increase in risk factors and comorbidities such as hypertension, obesity, diabetes, and high blood cholesterol. These comorbidities have led to the growing prevalence of sudden cardiac death in the general population. As the healthcare infrastructure improves in India, the usage of ICD for treating sudden cardiac death is expected to increase significantly.”

Single chamber ICD devices accounted for around 60% of the Indian ICD market in 2021, as they involve short procedure time and fewer complications. Currently, dual chamber ICD is the fastest growing segment in this market. However, subcutaneous ICDs are expected to experience high demand in the future as they are less invasive.

Kaushik concludes: “ICD market in India started recovering at a slow rate in 2021 after suffering a negative impact in 2020. However, rise in COVID-19 cases along with concerns on new variants may have a negative impact on the market in the first half of 2022.”

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