IMPLANTABLE CARDIOVERTER DEFIBRILLATORS MARKET ANALYSIS

Market News

Key Developments

1. Major companies in the market are focused on various business strategies such as merger and acquisition, in order to gain competitive edge in the global market. For instance, in April 2018, MicroPort Scientific Corporation, a medical device developer, acquired Cardiac Rhythm Management (CRM) Business from LivaNova Plc. Upon acquisition CRM Business is now renamed as MicroPort CRM.
2. Key players in the market are involved in various growth strategies such as research and development, in order to expand their product portfolio. For instance, in May 2019, Medtronic plc, a medical device manufacturer, announced pilot study results for its investigational Extravascular Implantable Cardioverter Defibrillator (EV ICD). In this device, the lead is placed outside the heart and veins to provide lifesaving defibrillation.
3. Key players in the market are involved in different growth strategies such as gaining approval from regulatory authorities, in order to expand their product portfolio. For instance, in September 2017, Abbott Laboratories, a pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval for magnetic resonance (MR)-labeling for one of company’s most widely used implantable cardioverter defibrillator (ICD) and related high voltage.