Implantable cardioverter defibrillators (ICDs) monitor heart rhythms and deliver therapy to correct heart rates that are too fast and can lead to sudden cardiac arrest. According to GlobalData analysis, the ICD market was valued at $3.2bn worldwide last year and will reach $4.4bn in 2030, at a steady compound annual growth rate (CAGR) of 3.7%. GlobalData’s global brand pricing tool estimates brand-level selling prices (including discounts) of key products in key global geographies. This information would be of great use in detecting price changes, understanding competitor market positioning, suggesting sales strategies and planning ICD product launches.

The ICD market can be segmented into single-chamber ICDs, dual-chamber ICDs and subcutaneous ICDs. A single chamber ICD attaches to one chamber of the heart, for example, the right ventricle. A dual-chamber ICD monitors the electrical activity in two chambers of the heart. The subcutaneous ICD (S-ICD), also known as the leadless ICD, consists of an electrode and a pulse generator that functions without the placement of the electrical wires (leads) in the heart. S-ICD has become the preferred device in patients with structural defects that might prevent the attaching of device wires to the heart. The average selling price (ASP) of EMBLEM S-ICD, the leading brand of S-ICD, is almost double that of regular single-chamber and dual-chamber ICDs.

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Medtronic is the market leader for single-chamber ICDs, ahead of Biotronik, Abbott and Boston Scientific. Since its acquisition of LivaNova’s Cardiac Rhythm Management business, Chinese medical device company MicroPort is established to hold the fifth largest share of the market. According to GlobalData’s global brand pricing tool, Medtronic has the highest ASP at more than $14,000, while Biotronik—with a 22% share of the market—has the second highest ASP. This indicates that setting a lower price during an initial offering may not help penetrate the market and attract surgeons away from competitors in this market.

In addition, Medtronic launched its most recent product, Cobalt XT, last year. Cobalt XT features BlueSync technology to offer connected health, including the ability for clinicians to program the device through app-based remote monitoring, thereby reducing potential exposure to Covid-19. As a premium brand in the ICD market, its ASP is 35% higher than the previous model, Cobalt. The global brand pricing tool will help players in the market optimise their pricing strategy if they plan to launch similar devices worldwide.

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