Global Defibrillators Market Size By End User(Hospitals, Clinics, & Cardiac Centers, Pre-Hospitals, Public Access Markets), By Product(Implantable Cardioverter Defibrillators (ICDS), External Defibrillators), By Geographic Scope And Forecast
Defibrillators Market size was valued at USD 10.88 Billion in 2020 and is projected to reachUSD 16.72 Billion by 2028, growing at aCAGR of 5.60% from 2021 to 2028.
The growing geriatric population having the highest risk of target diseases, rising incidence of cardiac diseases, and increasing focus on providing public-access defibrillators are expected to drive the defibrillators market over the predicted years. The Global Defibrillators Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Defibrillators Market Definition
A defibrillator is an electronic device used to deliver a therapeutic shock to a patient's heart in serious conditions like pulseless ventricular tachycardia, cardiac arrhythmia, and ventricular fibrillation. The electric shock depolarizes the heart muscles and restores its normal electric impulse. It can prevent sudden death among people suffering from life-threatening arrhythmia. End-Users of defibrillators are Hospitals, Clinics, & Cardiac Centers, Pre-Hospitals, Public Access Markets, Home Care, and Alternate Care Markets. Based on the product, they are classified into Implantable Cardioverter Defibrillators (ICDS), External Defibrillators, Manual External Defibrillators, and Wearable Cardioverter Defibrillators (WCDS).
Global Defibrillators Market Overview
The growing geriatric population having the highest risk of target diseases and increasing focus on providing public-access defibrillators are expected to drive the defibrillators market over the predicted years. Also, training & awareness programs on defibrillators and the rising incidence of cardiac diseases expects a boost to the market in the coming years. Additionally, the development of CRT-Ds, S-ICDs, and MRI-compatible ICDs
There are certain restraints and challenges faced which can hinder the market growth. Factors such as lack of awareness about the sudden cardiac arrest (SCA) and product failures are likely to act as market restraints.
Global Defibrillators Market: Segmentation Analysis
The Global Defibrillators Market is Segmented into End User, Product, And Geography.
Defibrillators Market by End-User
Hospitals, Clinics, & Cardiac Centers
Pre-Hospitals
Home Care
Alternate Care Markets
Based on the end-user, the market is bifurcated into Hospitals, Clinics, & Cardiac Centers, Pre-Hospitals, Public Access Markets, Home Care, and Alternate Care Markets. The Hospitals, Clinics, & Cardiac Centers segment is predicted to hold the largest market share. The factors can be attributed to the availability of reimbursements facilities and upsurge in the number of cardiac implant procedures.
Based on the product, the market is bifurcated into Implantable Cardioverter Defibrillators (ICDS), External Defibrillators, Manual External Defibrillators, and Wearable Cardioverter Defibrillators (WCDS). The Implantable Cardioverter Defibrillators (ICDS) segment is anticipated to have the highest CAGR in the forecasted period. The factors can be attributed to the rising adoption of cardiac resynchronization therapy defibrillators (CRT-Ds) & S-ICD systems across the globe and the development of technologically advanced devices with extended longevity.
Defibrillators Market by Geography
Based on regional analysis, the Global Defibrillators Market is classified into
North America
Europe
Asia Pacific
Rest of the world
The largest share in the market will be dominated by North America owing to the technological advancements, increasing the geriatric population, and the prevalence of cardiac diseases in this region.
Key Players
The Major Players in the market are as follows:
Medtronic PLC
St. Jude Medical, Inc.
Boston Scientific Corporation
Philips Healthcare (A Division of Koninklijke Philips N.V.)
Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation)
Biotronik Se & Co.Kg
Physio-Control International, Inc.
Cardiac Science Corporation (A Portfolio Company of Aurora Capital Group)
orin Group (Now Livanova PLC)
Nihon Kohden Corporation
These Major Players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Key Developments
Product Launches and Product Expansions
On April 2020, Philips, a health technology company, announced that the Emergency Care and Resuscitation (ECR) business is recommencing the US manufacturing and shipping of external defibrillators. The company notified that the US Food and Drug Administration (FDA) had lifted the restrictions imposed on the manufacturing and distribution of defibrillators in the US.
On March 2021, The Rankin government announced that all public schools in Nova Scotia would be provided automated external defibrillators. The government invested USD 700,000. The purpose of this investment is the availability of these devices at the time of cardiac emergency.
On July 2021, ZOLL Medical Corporation announced that the company had received clearance from FDA 510(k) to release the TBI Dashboard feature on its Propaq M monitor and Propaq MD defibrillator. This feature provided clinical decision support for managing patients with TBI and was available in international markets, but it is now available in the U.S. market with the FDA clearance.
TABLE OF CONTENTS
1 INTRODUCTION OF GLOBAL DEFIBRILLATORS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH