To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information

I Agree

MRI Safe Implantable Defibrillator Devices Market

MRI Safe Implantable Defibrillator Devices Market By Product (Single Chamber Defibrillators, Dual Chamber Defibrillators), By Modality (MR Conditional Defibrillators, MR Safe Defibrillators), By End Use (Hospitals, Ambulatory Surgical Centers), & By Region - Global Forecast 2022-2032

Analysis of MRI Safe Implantable Defibrillator Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

MRI Safe Implantable Defibrillator Devices Market Outlook (2022-2032)

The global MRI safe implantable defibrillator devices market is set to enjoy a valuation of US$ 890 million in 2022 and further expand at a CAGR of 6.7% to reach US$ 1.7 billion by 2032-end.

Due to changing lifestyle preferences, high incidence of degenerative & chronic diseases, increase in the number of elderly people, and technological advancements in implantable devices such as high-field MRI, superconducting magnets, software applications, and open architecture, the global market for MRI-safe implantable devices is expanding rapidly across geographies.

Report Attributes

Details

MRI Safe Implantable Defibrillator Devices Market Size (2022E)

US$ 890 Million

Forecasted Market Value (2032F)

US$ 1.7 Billion

Global Market Growth Rate (2022-2032)

6.7% CAGR

North America Market Share (2022)

24.1%

Europe Market Share (2022)

22.3%

Market Share of Top 3 Countries

35%

Key Companies Profiled

  • Medtronic plc
  • Zimmer Holdings Inc.
  • Abbott Laboratories
  • Cochlear Ltd.
  • Biotronik
  • Boston Scientific Corporation
  • St. Jude Medical Inc
  • Smiths Medical
  • AbbVie, Inc.
  • TriVascular2, Inc.
  • Stryker Corporation
  • Smith & Nephew Plc
  • Johnson & Johnson

Don't Need a Global Report?

Save 40% on Country & Region specific reports

MRI Safe Implantable Defibrillator Device Sales Analysis (2017-2021) Vs. Market Forecasts (2022-2032)

Devices that are implanted inside the body of the patient and enable the patient to undergo MRI diagnosis safely are known as MRI safe defibrillators. Better images of soft tissues, such as the spine, are produced by the imaging technique known as magnetic resonance induction.

Different types of electromagnetic fields are used during MRI imaging procedures and are predicted to interfere with the leads of cardiac pacemakers or defibrillators. As a result, numerous research projects and clinical studies have been carried out to create better and more sophisticated machines that will enable the patient to have an MRI operation safely.

Demand for MRI safe implantable defibrillator gadgets is growing as a result of factors such as rising ageing population, increase in cardiac disorders, and technological advancements in products.

Expanding at a CAGR of 6.7%, the global MRI-safe implantable defibrillator devices market is projected to reach a size of US$ 1.7 billion by 2032.

MRI safe implantable defibrillator devices market forecast by Fact.MR

MRI Safe Implantable Defibrillator Devices Market

More Insights, Lesser Cost (-50% off)

Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR

What’s Uplifting MRI Safe Implantable Defibrillator Devices Market Growth?

“Technological Advancements, Rising Incidents of Cardiac Diseases, & Growing Number of Senior Population”

A growing elderly population, an increase in cardiac disorders, rising number of eligible people, and several product innovations are some of the factors boosting the market for MRI safe implantable defibrillator systems.

Furthermore, the market for MRI safe implantable defibrillator gadgets is expanding due to the high need for system safety as well as successful marketing initiatives by several manufacturers. The market for MRI-safe defibrillators is also expanding due to additional market variables such as increase in the number of hospitals and rising disposable income, among others.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

What is Curbing Sales Growth of MRI Safe Implantable Defibrillator Devices?

“Lack of Skilled Workforce & High Device Cost Hampering Market Expansion”

Besides the market for MRI safe defibrillators' driving forces, certain challenges could impede its expansion.

The market for MRI safe defibrillators may face growing issues such as a shortage of experienced expert professionals and inadequate reimbursement policies. One significant aspect that is anticipated to impede market expansion of MRI safe defibrillators is the high cost of these devices.

What Will Help New Companies Increase their Market Share?

“New Entrants Focusing on Product Innovation, Marketing, & Branding”

There are incredibly few businesses that are engaged in the production of MRI-compatible gadgets. These products were just recently introduced into the market.

  • In April 2014, Medtronic announced that the first implantable defibrillator devices that were MRI-safe had received the CE Mark and were available in Europe.
  • USFDA recently approved the first Medtronic ICD that is MRI-compatible. A majority of the population still uses implantable defibrillators that are not MRI-compatible despite the introduction of MRI-safe devices.

Companies moving in this route are spending money on research and development projects to advance various device types and produce low-cost MRI safe implanted defibrillator systems.

Due to their dominance, product approvals, market positioning, and lack of competitors, the top 3 players in this market hold a majority of the global market share for MRI safe implantable defibrillator devices.

What Makes North America a Profitable Market for MRI Safe Implantable Defibrillator Producers?

“Advanced Healthcare Infrastructure, High Awareness Regarding Product, & Rising Rate of Implants”

Geographically, North America dominates the market for MRI safe implantable defibrillator solutions because of the region's sophisticated medical facilities, high rate of implants, and favourable reimbursement environment. In 2022, North America is expected to account for 24.1% of the global market share.

Western European nations adhere to this because the CE approves these devices more quickly than the USFDA. Growth is encouraged by the region's high rate of implanted defibrillator use. Due to the lower acceptance rate of these gadgets, Eastern Europe does not represent a sizable market share.

Europe is predicted to hold 22.3% of the global market share, in 2022.

Due to the rise in cardiac disorders, rise in healthcare spending, and rise in medical tourism, APEJ represents a considerable growth opportunity for MRI Safe implantable defibrillator systems over the projection period.

Due to its large senior population and government funding for healthcare institutions, Japan will also have a sizable market share during the forecast period.

Latin America, followed by the Middle East and Africa, has the lowest market share and growth rate for MRI safe implantable defibrillator gadgets over the forecast period, but because of the large number of eligible people living there, these regions offer a sizable market opportunity for competitors.

Will Hospitals Continue Accounting for High Sales of MRI Safe Implantable Defibrillator Devices?

“High Demand from Hospitals Due to Advanced Infrastructure, Presence of Experienced Workforce, & Availability of Reimbursements”

The global MRI safe defibrillator devices market has been divided into hospitals and ambulatory surgical centers, based on end user. It is anticipated that hospitals will account for a sizable portion of market revenue during the forecast period.

Hospitals, clinics, ambulatory surgical centers, and cardiac centers perform the majority of implanted cardioverter defibrillator (ICD) operations. Intensive care units (ICUs), critical care units (CCUs), and emergency rooms are the usual locations for defibrillators.

The most prevalent defibrillators utilized in these facilities are implantable cardioverter defibrillators (ICDs) and automated external defibrillators (AEDs). AEDs are increasingly being employed in hospital settings, even though manual defibrillators are still favoured and frequently used there.

AEDs are increasingly preferred in these facilities due to early defibrillation, faster reaction times, simplicity, cost-effectiveness, and a lack of qualified staff.

The availability of reimbursements in developed markets and the rising frequency of cardiac implant surgeries are the other two key factors positively influencing the hospital segment's growth.

Competitive Landscape

At the moment, the development of implantable defibrillators that are safe for MRIs is being greatly aided by smart innovation. Market players focussing on innovation and improvements are Getinge and Boston Corporation.

Market participants will put more effort into creating novel devices to attract attention across the world. Since 2021, the most frequently used strategies have continued to include technological improvements, new product launches, research and development, acquisitions, expansions, and collaborations.

  • DirectSense Technology, a novel instrument for observing the impact of radiofrequency energy delivery during cardiac ablation procedures, was recently released by Boston Corporation.

Key Segments in MRI Safe Implantable Defibrillator Devices Industry Research

  • MRI Safe Implantable Defibrillator Devices Market by Product :

    • Single Chamber Defibrillators
    • Dual Chamber Defibrillators
  • MRI Safe Implantable Defibrillator Devices Market by Modality :

    • MR Conditional Defibrillators
    • MR Safe Defibrillators
  • MRI Safe Implantable Defibrillator Devices Market by End Use :

    • Hospitals
    • Ambulatory Surgical Centers
  • MRI Safe Implantable Defibrillator Devices Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- Premium Report Details -

MRI Safe Implantable Defibrillator Devices Market
  • FACT566MR
  • Jul-2022
  • Healthcare
  • 170 Pages
  • 84 Tables
  • 112 Figures

- Let's Connect -

Talk To an Expert Today Connect

- Get Started -

Get insights that lead to new growth opportunities

Buy Now

Get A Special pricing for start-ups and universities

Enquiry Before Buying

- Humble, Yet Honored -

Our prestigious clients

- Research Methodology -

An Adaptive Approach to Modern-day Research Needs

Get Methodology

- FAQs -

The global MRI safe implantable defibrillator devices market is valued at US$ 890 million.

Sales of MRI safe implantable defibrillator devices are set to increase at 6.7% CAGR.

North America leads with around one-fourth market share.

Top 3 countries manufacturing MRI-safe implantable defibrillator devices account for 35% share.

Exclusive Report

Need An Exclusive Report For Your Unique Requirement?

Google translate